Execution And Project-schedule RiskDependence on commissioning and operational start-ups increases exposure to execution risk if plant ramp-up or support contracts face delays or cost overruns.
Margin Compression From Revenue MixGross margin weakened as a larger share of lower-margin technical services reduced overall profitability, posing pressure on margins as the service mix shifts.
Revenue Shortfall RiskProportional revenue in Q3 came in below analyst expectations, highlighting risk of near-term revenue volatility tied to project timing and deliveries.