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New words:
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Removed:
Absent, absenteeism, accrue, achieved, adjudicate, Affiliated, aging, alleged, alternative, analyze, apply, appointed, assessed, assume, attract, attrition, avoid, back, Bacon, benchmark, bore, broader, build, burden, cease, CEO, cessation, complaint, concluding, concurrently, conform, connected, constructability, Continental, contingency, contractually, contrary, County, Court, create, dedication, defended, Deferral, delinquency, derecognition, desirable, developed, differentiated, disposal, diverse, doubtful, ease, eighty, employment, entitlement, exhibit, exit, extending, Facilitation, final, force, goal, greater, history, honor, HVAC, implementation, incorrect, influenced, inherent, integrated, Interbank, introduced, invest, Legacy, LIBOR, London, Los, maintain, manipulation, McCann, Michael, modification, modify, modular, moving, MRSU, Nasdaq, Northeast, optional, oriented, participate, persist, Pittsburgh, plaintiff, portfolio, prefabrication, presentation, properly, proposal, prospectively, prove, pursue, quotation, recognizing, recoverability, referee, refine, refused, relief, remote, removed, replacement, repurchased, rest, retain, retrospective, satisfied, securing, served, solvent, sooner, stepped, subset, succession, suffered, suit, sunset, Superior, susceptible, tenor, traditional, Transfer, transition, trial, true, turnover, unanticipated, unconditional, unique, updated, utilize, vaccination, variability, venture, vigorously, warrant, winning, wrongful, xlv, xlvi, xlvii, xxxvix
Financial report summary
?Risks
- Intense competition in our industry could reduce our market share and profit.
- We face competition from the in-house service organizations of our customers.
- If we do not effectively manage the size and cost of our operations, our existing infrastructure may become either strained or overly-burdened, and we may be unable to increase revenue growth.
- Our dependence on a limited number of customers could adversely affect our business and results of operations.
- Our contract backlog is subject to unexpected adjustments and cancellations and could be an uncertain indicator of our future earnings.
- Since we bear the risk of cost overruns in most of our contracts, we may experience reduced profits or, in some cases, losses if costs increase above estimates.
- Timing of the award and performance of new contracts could have an adverse effect on our operating results and cash flow.
- We may incur significant costs in performing our work in excess of the original project scope and contract amount without having an approved change order.
- We place significant decision making powers with our business units’ management, which presents certain risks that may cause the operating results of individual branches to vary.
- Acquisitions, divestitures, and other strategic transactions could fail to achieve financial or strategic objectives, disrupt our ongoing business, and adversely impact our results of operations.
- Our failure to successfully integrate acquisitions could adversely affect our financial results.
- Design/Build and Design/Assist contracts subject us to the risks of design errors and omissions.
- If we experience delays and/or defaults in customer payments, we could be unable to recover all expenditures.
- Unsatisfactory safety performance may subject us to penalties, affect customer relationships, result in higher operating costs, negatively impact employee morale and result in higher employee turnover.
- Our inability to properly utilize our workforce could have a negative impact on our profitability.
- Our business may be negatively affected by our failure to properly execute our business strategy.
- Our success depends upon the continuing contributions of certain key personnel, each of whom would be difficult to replace. If we lose the benefit of the experience, efforts and abilities of one or more of these individuals, our operating results could suffer.
- If we are unable to attract and retain qualified managers, employees, joint venture partners, subcontractors and suppliers, we will be unable to operate efficiently, which could reduce our profitability.
- Misconduct by our employees, subcontractors or partners, or our overall failure to comply with laws or regulations could harm our reputation, damage our relationships with customers, reduce our revenue and profits, and subject us to criminal and civil enforcement actions.
- Our dependence on subcontractors and suppliers of equipment and materials could increase our costs and impair our ability to complete contracts on a timely basis or at all, which would adversely affect our profits and cash flow.
- Changes in energy prices may increase our costs, and we may not be able to pass along increased energy costs to our customers.
- We may be unable to identify and contract with qualified DBE contractors to perform as subcontractors.
- Our participation in construction joint ventures exposes us to liability and/or harm to our reputation for failures of our partners.
- A significant portion of our business depends on our ability to provide surety bonds. Any difficulties in the financial and surety markets may cause a material adverse effect on our bonding capacity and availability.
- Our insurance policies against many potential liabilities require high deductibles. Additionally, difficulties in the insurance markets may adversely affect our ability to obtain necessary insurance.
- Our use of the cost-to-cost method of accounting could result in a reduction or reversal of previously recorded revenue or profits.
- Earnings for future periods may be impacted by impairment charges for goodwill and intangible assets.
- Contractual warranty obligations could adversely affect our profits and cash flow.
- Recent and potential changes in U.S. trade policies and retaliatory responses from other countries may significantly increase the costs or limit supplies of raw materials and products used in our operations.
- Rising inflation and/or interest rates, or deterioration of the United States economy could have a material adverse effect on our business, financial condition and results of operations.
- Continuing worldwide political and economic uncertainties may adversely affect our revenue and profitability.
- Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
- Failure to remain in compliance with covenants under our debt and credit agreements or service our indebtedness could adversely impact our business.
- We may not be able to generate sufficient cash flow to meet all of our existing or potential future debt service obligations.
- Our obligation to contribute to multiemployer pension plans could give rise to significant expenses and liabilities in the future.
- Increases in healthcare costs could adversely affect our financial results.
- Our business may be affected by the work environment.
- A pandemic, epidemic or outbreak of an infectious disease, such as the coronavirus (COVID-19), in the markets in which we operate or that otherwise impacts our facilities or suppliers could adversely impact our business.
- Future climate change could adversely affect us.
- We may be affected by market or regulatory responses to climate change.
- Increasing scrutiny and changing expectations from investors and customers with respect to our environmental, social and governance practices may impose additional costs on us or expose us to reputational or other risks.
- We are susceptible to adverse weather conditions, which may harm our business and financial results.
- Information technology system failures, network disruptions or cyber security breaches could adversely affect our business.
- Changes to our outsourced software or infrastructure vendors as well as any sudden loss, breach of security, disruption or unexpected data or vendor loss associated with our information technology systems could have a material adverse effect on our business.
- We have subsidiary operations throughout the United States and are exposed to multiple state and local regulations, as well as federal laws and requirements applicable to government contractors. Changes in laws, regulations or requirements, or a material failure of any of our subsidiaries or us to comply with any of them, could increase our costs and have other negative impacts on our business.
- As Federal Government Contractors under applicable federal regulations, our subsidiaries are subject to a number of rules and regulations, and our contracts with government entities are subject to audit. Violations of the applicable rules and regulations could result in a subsidiary being barred from future government contracts.
- Past and future environmental, safety and health regulations could impose significant additional costs on us that reduce our profits.
- Our failure to comply with immigration laws and labor regulations could affect our business.
- The price of our common stock may be volatile.
- Future sales of our common stock may cause our common stock price to decline.
- Future equity issuances could result in dilution, which could cause our common stock price to decline.
- If equity research analysts publish unfavorable commentary or downgrade our common stock, the price and trading volume of our common stock could decline.
- We have not declared any dividends on our common stock to date and have no expectation of doing so in the foreseeable future.
- Provisions in our organizational documents and Delaware or certain other state laws could delay or prevent a change in control of our company, which could adversely affect the price of our common stock.
- Failure or circumvention of our disclosure controls and procedures or internal controls over financial reporting could seriously harm our financial condition, results of operations, and business.
- Our management has concluded that our disclosure controls and procedures and internal control over financial reporting are effective. However, if we are unable to establish and maintain effective disclosure controls and internal control over financial reporting or have material weaknesses in our internal control over financial reporting, our ability to produce accurate financial statements on a timely basis could be impaired, and the market price of our securities may be negatively affected.
- Actual and potential claims, lawsuits and proceedings could ultimately reduce our profitability and liquidity and weaken our financial condition.
- Force majeure events, including natural disasters and terrorists’ actions, could negatively impact our business, which may affect our financial position, results of operations or cash flows.
- Deliberate, malicious acts, including terrorism and sabotage, could damage our facilities, disrupt our operations or injure employees, contractors, customers or the public and result in liability to us.