Financial Highlights - Q3 2026 consolidated revenues reached $251 million, a 2% decrease year-over-year but a 6% increase sequentially compared to Q2 2026[5] - Q3 2026 earnings per diluted share increased by 9% year-over-year to $2.17[5] - Q3 2026 EBITDA was $40.3 million, representing 16% of revenue[5] - The quarterly dividend increased by 33% to $0.50 per common share[5] Backlog and Projects - The project backlog reached a record of approximately $3.0 billion as of October 31, 2025[5] - The current backlog represents approximately 6GW in new energy builds[5] - Recent additions to the backlog include a 1,350 MW combined cycle power plant and an 860 MW natural gas-fired power plant, both in Texas[5] - Natural Gas projects account for 79% of the backlog, Renewable projects 16%, and Industrial projects 5%[20] Market Drivers and Growth - Electricity demand is projected to increase by 25% by 2030 and 78% by 2050[21, 40] - Data center power demand is projected to double to 945 TWh by 2030[14] - Electricity demand from EVs is projected to reach 780 TWh in 2030, increasing from 180 TWh in 2024[16] Balance Sheet and Capital Allocation - Cash, cash equivalents, and investments totaled $727 million as of October 31, 2025[28] - Net liquidity was $377 million as of October 31, 2025[28] - $109.6 million has been returned to shareholders through share repurchases since November 2021[33]