Significant Growth in Non-Federal Client Revenue
Revenues from commercial clients, state and local, and international government clients increased by 13.8%, now accounting for 57% of the quarter's revenues, up from 46% last year.
Commercial Energy Business Expansion
Commercial energy revenues increased 24% year-over-year, driven by strong demand for energy efficiency programs and expertise in electrification, grid resilience, and affordability.
Improved Adjusted EBITDA Margin
Despite reduced revenue, adjusted EBITDA margin improved by 10 basis points due to strong growth in higher-margin commercial revenues and careful cost management.
Robust Contract Awards and Pipeline
Contract awards surpassed previous year levels with a book-to-bill ratio of 1.53. Year-to-date contract awards reached $1.8 billion with an $8.4 billion pipeline supporting future growth.