Financial Data and Key Metrics Changes - The company reported revenues of $6.2 billion, net income attributable to common stock of $144 million, or $0.96 per diluted share, and adjusted diluted earnings per share of $1.78 [10] - Adjusted EBITDA was $504 million, representing 8.1% of revenues [10] - The company generated cash flow from operations of $243 million and free cash flow of $118 million, which included a $109 million tax payment deferred from 2024 [10] - The company increased its full-year 2025 expectations for revenue by $100 million, adjusted EBITDA by $10 million, and adjusted earnings per share by $0.05 [12] Business Line Data and Key Metrics Changes - The company emphasized its core strategy built on craft skill labeling, execution certainty, and strategic investments in talent and technology [6][7] - The company highlighted robust demand for resilient electric grids, power generation, and energy infrastructure, indicating a strong growth trajectory across its business lines [8][9] Market Data and Key Metrics Changes - Utilities in the United States are experiencing significant increases in power demand driven by new technologies, including data centers and artificial intelligence [9] - The company believes this demand surge could lead to the largest investment in high voltage transmission infrastructure in a generation [9] Company Strategy and Development Direction - The company aims to reinforce its leadership position through a diversified solution-based strategy that integrates craft labor with engineering and technology [7] - The company is focused on delivering comprehensive infrastructure solutions and creating deeper strategic relationships with customers [8] - The management expressed confidence in navigating periods of uncertainty and emerging stronger due to its financial liquidity and strategic execution [8] Management's Comments on Operating Environment and Future Outlook - Management noted that the energy and infrastructure landscape is undergoing a fundamental transformation, positioning the company at its center [8] - The company is proactively collaborating with customers to provide supply chain solutions focused on cost optimization and growth [13] - Management remains confident in the multiyear compound annual growth rate (CAGR) expectations for renewable energy generation and storage [14] Other Important Information - The company repurchased approximately $135 million of its common stock, with $365 million remaining under its existing repurchase authorization [14] - The company received credit upgrades from S&P Global Ratings, which are expected to lower borrowing costs and expand liquidity [12] Q&A Session Summary Question: Impact of Long Island Power Authority's decision on guidance - Management indicated that the decision was not anticipated in their guidance [25][26] Question: Expansion of high voltage transmission projects - Management confirmed ongoing firm demand for transmission projects and expects continued backlog growth despite macro uncertainties [30][34] Question: Impact of tariffs on customers - Management stated that they have not seen significant impacts from tariffs within their customer base and believe their portfolio can weather potential disruptions [39][40] Question: Status of interconnection work and backlog - Management noted steady growth in construction starts for renewables and expressed confidence in their backlog [49][50] Question: Strategic benefits from supply chain access - Management highlighted the importance of internal supply chain capabilities and their ability to provide better solutions to clients [90][91] Question: Growth in data centers and underground business - Management acknowledged opportunities in large diameter pipe and natural gas projects, indicating a positive outlook for these segments [132]