Strong Revenue Growth
Consolidated revenue grew by 23% to $193.7 million, with a gross margin of 19% for the first quarter of fiscal 2026.
Record Backlog
Achieved a record backlog of $1.9 billion as of April 30, 2025, with significant projects like the SLEC 1.2-gigawatt ultra-efficient combined cycle natural gas-fired plant in Texas.
Increased Net Income and Earnings
Net income increased to approximately $23 million or $1.60 per diluted share, up $1.02 year over year.
Robust Project Pipeline
The company expects to exceed $2 billion in backlog later this year, driven by strong demand for power industry services.
Strong Balance Sheet
The company reported $546.5 million in cash and investments, net liquidity of $315 million, and no debt as of April 30, 2025.
Power Industry Services Growth
Revenues for the power industry services segment increased 45% to $160 million, representing 83% of first-quarter revenues.