Stable Revenue and Growth in Non-Federal Segments
Second quarter revenue was stable and in line with expectations. Revenues from commercial, state and local government, and international government clients increased by 13.8% in aggregate and accounted for 57% of second quarter revenues.
Commercial Energy Client Growth
Revenue from commercial energy clients increased by 27% year-on-year due to strong demand for energy efficiency programs, electrification, and grid resilience.
Adjusted EBITDA Margin Expansion
Adjusted EBITDA margin expanded by approximately 20 basis points year-on-year, reflecting favorable business mix and cost management initiatives.
Strong Book-to-Bill Ratio
The second quarter book-to-bill ratio was strong at 1.3, indicating positive business outlook for 2025.
Growth in Environment and Planning Services
Strong demand for environment and planning services for commercial clients was driven by renewable and transmission permitting and new project awards.