The company said revenue for Q2 2024 rose $513.9 million (39.6%) from a year earlier to $1.81 billion. It attributed 29.5% of the increase to same-store growth and 10.1% to the Summit, J&S and DECCO acquisitions.

10-QQuarterly reportFiled Jul 25, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue for Q2 2024 rose $513.9 million (39.6%) from a year earlier to $1.81 billion. It attributed 29.5% of the increase to same-store growth and 10.1% to the Summit, J&S and DECCO acquisitions.
The company said mechanical segment revenue for Q2 2024 increased $475.8 million (48.7%) to $1.45 billion, and electrical segment revenue increased $38.1 million (11.9%) to $358.6 million. It said $344.7 million of the mechanical segment increase came from same-store activity.
The company said operating cash flow for the first six months of 2024 was $336.4 million, compared with $252.3 million in the same 6-month period a year earlier, an increase of $84.1 million. It said cash used in investing activities was $282.4 million over the same period, and cash used in financing activities was $59.7 million.
The company said that as of June 30, 2024, it had no borrowings under its $850.0 million senior credit facility, letters of credit totaling $81.5 million were issued, and $768.5 million was available to borrow. It said the facility expires in July 2027.

Key figures

Quarter ended June 30, 2024

Revenue: $1.8B
Operating income: $185M
Net income: $134M
EPS: $3.74
Gross profit: $364M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 2024 Revenue $1.81 billion

The company said revenue for Q2 2024 rose $513.9 million (39.6%) from a year earlier to $1.81 billion. It attributed 29.5% of the increase to same-store growth and 10.1% to the Summit, J&S and DECCO acquisitions.

Source · Based on the MD&A text of the filing

Mechanical Segment $1.45 billion, Electrical Segment $358.6 million

The company said mechanical segment revenue for Q2 2024 increased $475.8 million (48.7%) to $1.45 billion, and electrical segment revenue increased $38.1 million (11.9%) to $358.6 million. It said $344.7 million of the mechanical segment increase came from same-store activity.

Source · Based on the MD&A text of the filing

Six-Month 6-Month Operating Cash Flow $336.4 million

The company said operating cash flow for the first six months of 2024 was $336.4 million, compared with $252.3 million in the same 6-month period a year earlier, an increase of $84.1 million. It said cash used in investing activities was $282.4 million over the same period, and cash used in financing activities was $59.7 million.

Source · Based on the MD&A text of the filing

$850.0 million Credit Line, $768.5 million Available

The company said that as of June 30, 2024, it had no borrowings under its $850.0 million senior credit facility, letters of credit totaling $81.5 million were issued, and $768.5 million was available to borrow. It said the facility expires in July 2027.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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