Record Revenue and Growth
Third quarter 2025 revenues reached $950 million, an increase of $62 million or 7% compared to the same period last year. C&I revenues increased by 10%, and net income reached a record $32 million, a 215% increase from the previous year.
Strong Operating Cash Flow
Operating cash flow was a record $96 million, up from $36 million in the same period last year, driven by higher net income and the timing of billings and payments.
Improved Gross Margin
Gross margin improved to 11.8% from 8.7% a year ago, due to better-than-anticipated productivity, favorable change orders, and favorable job closeouts.
Positive Market Outlook
Encouraging forecasts for key segments such as data centers, health care, and transportation, with expectations of continued growth in these areas.