CTRI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• During the second fiscal quarter of 2026, we reversed $9.0 million in revenue related to a legacy contract with the City of Chicago (the “City of Chicago reversal”) within our U.S. Gas segment upon completing our initial analysis of a court order entered on April 20, 2026, which required us to reass…

• During the first fiscal six months of 2026, we incurred increased costs to scale up our workforce in response to increased demand.

• only includes revenue estimates over the contractual life of MSAs, backlog tends to fluctuate based on the timing of MSA renewals.

• •Revenue from our U.S. Gas segment totaled $489.5 million, reflecting an increase of $152.7 million, or 45.3%, compared to the prior year period, primarily driven by new bid and MSA contracts. We also experienced additional volumes on existing MSAs during the current period. As a percentage of reven…

• •Revenue from our Canadian Operations segment totaled $81.4 million, reflecting an increase of $26.3 million, or 47.8%, compared to the prior year period. This increase was driven by the acquisition of Connect, which contributed approximately $22.3 million in revenue and $2.4 million in gross profit…

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• well-positioned to support growing customer attention in achieving environmental objectives through infrastructure construction and maintenance.

• •Revenue from our U.S. Gas segment totaled $284.5 million, a record high for first fiscal quarter revenue achieved by the segment, representing an increase of $86.8 million, or 43.9%, compared to the prior year period. This growth reflected progress on our initiative to increase work volumes in stat…

• especially harsh winter in the prior year period. Gross margin improved to (2.2%) in the current period from (7.5%) in the prior year period, benefiting from increased productivity of crews and more efficient utilization of fixed overhead due to increased volumes.

• •Revenue from our Canadian Operations segment totaled $60.0 million, reflecting an increase of $20.2 million, or 50.9%, compared to the prior year period. This increase was driven by the acquisition of Connect, which contributed approximately $23.2 million in revenue and $3.4 million in gross profit…

• •Revenue from our Union Electric segment totaled $204.1 million, reflecting an increase of $28.6 million, or 16.3%, compared to the prior year period. This increase was driven by new bid project wins. As a percentage of revenue, gross profit increased to 8.9% in the current period as compared to 6.7…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• At the end of the period covered by this Quarterly Report on Form 10-Q, we evaluated, with the participation of our Chief Executive Officer and Chief Financial Officer, the effectiveness of the design and operation of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e)…

• There have been no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the second fiscal quarter of 2026 that have materially affected, or are likely to materially affect the Company’s internal control over finan…

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• At the end of the period covered by this Quarterly Report on Form 10-Q, we evaluated, with the participation of our Chief Executive Officer and Chief Financial Officer, the effectiveness of the design and operation of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e)…

• summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange …

• There have been no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the first fiscal quarter of 2026 that have materially affected, or are likely to materially affect the Company’s internal control over financ…