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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Reconciliations of reportable segment operating revenues, inclusive of the Company’s significant segment expenses of Cost of sales and Selling, general and administrative expenses, to consolidated Income before income taxes and income from equity method investments for the Company’s reportable segments and “Corporate and Other” category were as follows:
Three months ended September 30, 2025
E&MT&D
Corporate and Other
Consolidated Total
(In thousands)
Segment operating revenues
$767,312 $223,412 $— $990,724 
Eliminations
(1,772)(2,132)— (3,904)
Total segment operating revenues
765,540 221,280 — 986,820 
Cost of sales
679,340 183,424 (166)862,598 
Gross profit
86,200 37,856 166 124,222 
Selling, general and administrative expenses29,224 10,343 12,274 51,841 
Operating income$56,976 $27,513 $(12,108)72,381 
Interest income
1,369 
Interest expense
5,441 
Other income, net
3,745 
Total consolidated income before income taxes and income from equity method investments
$72,054 
Three months ended September 30, 2024
E&MT&D
Corporate and Other
Consolidated Total
(In thousands)
Segment operating revenues
$536,895 $228,504 $— $765,399 
Eliminations
(2,154)(2,260)— (4,414)
Total segment operating revenues
534,741 226,244 — 760,985 
Cost of sales
480,149 190,985 (49)671,085 
Gross profit
54,592 35,259 49 89,900 
Selling, general and administrative expenses19,649 10,001 6,541 36,191 
Operating income$34,943 $25,258 $(6,492)53,709 
Interest expense
2,851 
Other income, net
1,071 
Total consolidated income before income taxes and income from equity method investments
$51,929 
Nine months ended September 30, 2025
E&MT&D
Corporate and Other
Consolidated Total
(In thousands)
Segment operating revenues
$2,129,139 $620,811 $— $2,749,950 
Eliminations
(7,994)(7,041)— (15,035)
Total segment operating revenues
2,121,145 613,770 — 2,734,915 
Cost of sales
1,880,567 518,266 (502)2,398,331 
Gross profit
240,578 95,504 502 336,584 
Selling, general and administrative expenses80,065 29,868 30,779 140,712 
Operating income$160,513 $65,636 $(30,277)195,872 
Interest income
2,858 
Interest expense
16,437 
Other income, net
6,220 
Total consolidated income before income taxes and income from equity method investments
$188,513 
Nine months ended September 30, 2024
E&MT&D
Corporate and Other
Consolidated Total
(In thousands)
Segment operating revenues
$1,481,778 $623,777 $— $2,105,555 
Eliminations
(5,627)(9,881)— (15,508)
Total segment operating revenues
1,476,151 613,896 — 2,090,047 
Cost of sales
1,312,538 524,461 (146)1,836,853 
Gross profit
163,613 89,435 146 253,194 
Selling, general and administrative expenses62,842 29,353 17,097 109,292 
Operating income$100,771 $60,082 $(16,951)143,902 
Interest expense
8,823 
Other income, net
3,683 
Total consolidated income before income taxes and income from equity method investments
$138,762 
Schedule of Segment Reporting Information by Segment
Additional financial information on the Company’s reportable segments is shown below, which follows the same accounting policies as those described in Note 2 – Basis of Presentation and Summary of Significant Accounting Policies:
Three months ended,
September 30, 2025September 30, 2024
E&M
T&D
E&M
T&D
(In thousands)
Depreciation and amortization expense
$1,415 $5,917 $1,618 $4,753 
Interest expense
(2,431)946 (54)982 
Income tax expense
17,033 6,646 9,806 6,249 
Capital expenditures*
$2,575 $7,346 $2,701 $15,256 
Nine months ended,
September 30, 2025September 30, 2024
E&M
T&D
E&M
T&D
(In thousands)
Depreciation and amortization expense
$4,268 $17,162 $4,794 $13,848 
Interest expense
(5,728)2,644 117 3,030 
Income tax expense
46,770 15,900 28,478 14,596 
Capital expenditures*
$12,699 $29,269 $5,641 $28,726 
__________________
*Capital expenditures for the three and nine months ended September 30, 2025 and 2024 include noncash transactions for capital expenditure-related Accounts payable.
Reconciliation of Assets from Segments to Consolidated
Reconciliations of reportable segment assets to consolidated assets were as follows as of:
September 30, 2025December 31, 2024
(In thousands)
E&M segment assets
$1,019,499 $764,470 
T&D segment assets
440,100 410,887 
Total reportable segment assets1,459,599 1,175,357 
Other assets188,781 161,016 
Eliminations
(24,644)(47,910)
Total consolidated assets $1,623,736 $1,288,463