Want to see FIX full AI Analyst Report?
Backlog by Segment
Shows the value of signed but uncompleted projects in each business segment, indicating near-term revenue visibility and which parts of the company have the strongest demand pipeline. A growing backlog can signal future revenue and hiring needs, while a shrinking backlog may warn of slowing commercial construction or contract wins.Mechanical backlog has surged and now meaningfully outstrips electrical, giving multi‑quarter revenue visibility fueled by data‑center and modular demand; electrical backlog is also accelerating and will be augmented by the announced tuck‑in acquisition (bringing revenue but lower EBITDA margins). The strategic pivot to modular capacity supports future conversion, but management’s callouts on labor, capacity limits and elevated CapEx mean backlog is powerful only if conversion speeds up—watch execution, working‑capital impact and margin mix as risks to near‑term earnings.
Date | Mechanical | Electrical |
|---|---|---|
Jun 30, 2026 | $10.06B | $4.00B |
Mar 31, 2026 | $9.59B | $2.86B |
Dec 31, 2025 | $9.03B | $2.92B |
Sep 30, 2025 | $6.79B | $2.59B |
Jun 30, 2025 | $5.81B | $2.31B |
Mar 31, 2025 | $5.21B | $1.68B |
Dec 31, 2024 | $4.69B | $1.31B |
Sep 30, 2024 | $4.44B | $1.24B |
Jun 30, 2024 | $4.49B | $1.29B |
Mar 31, 2024 | $4.63B | $1.28B |