Q1 2026 delivered exceptional financial performance with revenue up 19.1% to $138.3M, gross margins expanding to 19.3%, and operating income surging 127.3%, fueled by strong segment execution and pricing discipline amid favorable project timing.
Key takeaways
Operating income more than doubled 127.3% to $12.7M, driving operating margin to 9.2% through segment leverage and cost efficiencies.
Net income grew 165.7% to $10.5M with diluted EPS up 176.9% to $1.08, highlighting profitability gains from revenue and margin momentum.
Operating cash flow increased significantly to $29.3M, generating $25.8M free cash flow after $3.5M capex to support ongoing operations.