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Total Backlog
Measures the total value of signed, uncompleted contracts across the company, offering a snapshot of revenue runway and stability while also signaling risks from cancellations, delays, or cost overruns.Backlog has steadied after large mid‑cycle swings, suggesting the recent declines are more timing and project execution shifts than a collapse in demand. Management confirms a modest overall backlog dip driven by Energy (solar) timing while Utilities backlog grew, and they expect bookings to recover in H2 with book‑to‑bill >1x. Key takeaway for investors: near‑term revenue and margin pressure from renewables execution, but healthy utility wins, a big BESS/data‑center funnel and the Paynecrest deal support recovery and longer‑term growth.
Date | Total Backlog |
|---|---|
Jun 30, 2026 | $6.09B |
Mar 31, 2026 | $5.27B |
Dec 31, 2025 | $5.29B |
Sep 30, 2025 | $5.00B |
Jun 30, 2025 | $5.14B |
Mar 31, 2025 | $5.18B |
Dec 31, 2024 | $5.20B |
Sep 30, 2024 | $5.20B |
Jun 30, 2024 | $4.26B |
Mar 31, 2024 | $4.61B |