Record Operating Cash Flow
Operating cash flow was exceptionally strong at $289 million for the third quarter and $574 million for the first 9 months of 2025, setting new records for both periods.
Significant Backlog Growth
Backlog increased to a new record of $21.6 billion, up 54% year-over-year, with a book-to-burn ratio of 1.4x.
Strong Revenue and Profitability
Third quarter revenue was up 31% year-over-year, and operating income increased significantly despite higher share-based compensation expenses.
Improved Earnings Per Share
Adjusted earnings per share for the third quarter was $1.15, up from an adjusted loss per share of $1.61 last year.
Strategic New Project Awards
Added $2 billion in new awards, including the UCSF Benioff New Children's Hospital project in California valued at $1 billion.