ECG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Selling, general and administrative expenses (“SG&A”) for the three months ended June 30, 2026, were $71.2 million, an increase of $23.8 million, or 50.2%, from $47.4 million for the three months ended June 30, 2025. The increase was primarily driven by higher labor expenses of $14.6 million, to sup…

• The following table sets forth our consolidated selected statements of income data, with percentages of operating revenues for the interim periods indicated, as well as the percentage change from the prior comparative interim period:

• Income before income taxes and income from equity method investments

• Operating revenues for the six months ended June 30, 2026, were $2.27 billion, an increase of $520.4 million, or 29.8%, from $1.75 billion for the six months ended June 30, 2025. E&M revenues grew $483.6 million, or 35.5%, with SE&M contributing $33.4 million. T&D revenues increased $34.5 million, o…

• Changes in estimates associated with performance obligations that were satisfied or partially satisfied in prior periods positively net impacted revenues and accounted for approximately 5.1% of revenues for the six months ended June 30, 2026, compared to 4.2% of revenues for the six months ended Jun…

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

• Selling, general and administrative (“SG&A”) expenses for the three months ended March 31, 2026, were $53.0 million, an increase of $11.5 million, or 27.7%, from $41.5 million for the three months ended March 31, 2025. The increase was driven primarily by higher labor of $5.9 million, to support ope…

• •Renewables revenues increased $2.8 million with increased project activity within the commercial submarket, partially offset by lower project activity in the generation submarket due to the timing of projects.

• •Institutional revenues declined $41.6 million from lower project activity due to project timing and decreased demand for services in the healthcare, education and government submarkets.

• •Industrial revenues decreased $8.0 million with reduced project activity in the oil & gas and manufacturing submarkets, partially offset by higher workloads in the high tech submarket.

• •Service & other revenues were lower by $1.8 million due to decreased repair and maintenance demand.

Text added vs the prior filing · source: 10-Q · 2026-08-05

• We are exposed to interest rate volatility with regard to our long-term debt obligations, which bear interest at variable rates. As of June 30, 2026, we had $277.5 million outstanding under the Term Loan and no outstanding balance under the Revolving Credit Facility. Outstanding amounts, if any, for…

• As of June 30, 2026, the interest rate was 5.73% for the Term Loan. Therefore, a 1% increase to the variable interest rate would have increased the rate to 6.73% and increased our interest expense by approximately $2.7 million based on the expected balances outstanding for the Term Loan over the nex…

• Going forward, the level of our interest rate risk will depend on our utilization of the Revolving Credit Facility and the outstanding debt amount under the Term Loan and will be sensitive to changes in the general level of interest rates. As disclosed in the “Liquidity and Capital Resources” sectio…

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

• We are exposed to interest rate volatility with regard to our long-term debt obligations, which bear interest at variable rates. As of March 31, 2026, we had $281.2 million outstanding under the Term Loan and no outstanding balance under the Revolving Credit Facility. Outstanding amounts, if any, fo…

Text added vs the prior filing · source: 10-Q · 2026-08-05

• The Company's management, with the participation of the Company's chief executive officer and chief financial officer, has evaluated the effectiveness of the Company's disclosure controls and other procedures as of the end of the period covered by this report. Based upon that evaluation, the chief e…

• The Company completed the acquisition of SE&M on April 1, 2026. Under the current guidelines established by the SEC, companies are permitted to exclude acquisitions from their assessment of internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act)…

• The Company’s management, including its chief executive officer and chief financial officer, does not expect that the Company’s disclosure controls and procedures or its internal control over financial reporting will detect or prevent all errors and all fraud. A control system, no matter how well de…

• These inherent limitations include the realities that judgments in decision-making can be faulty, and breakdowns can occur because of simple errors or mistakes. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management ove…

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

• 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) under the Exchange Act) during the three months ended March 31, 2026, that have materially affected, or are reasonably likely to materially affect, the Company's interna…

• The Company’s management, including its chief executive officer and chief financial officer, does not expect that the Company’s disclosure controls and procedures or its internal control over financial reporting will detect or prevent all errors and all fraud. A control system, no matter how well de…