Risk Factors Update Summary
- Revenue dependency on power industry services increased from 73% to 78% in Fiscal 2024.
- Delayed or canceled projects may impact future revenues, with a majority portion related to EPC services.
- $2 million loss recognized for unrecovered fraudulent wire transfers in Q1 of Fiscal 2024.
- Decrease in coal's share of net electricity generation from 20% to 17% in 2023.
- Future natural gas-fired electricity generation expected to decrease to 22-32% by 2050.
- Natural gas-fired power plants provided 42% of electricity in 2023, up from 39% in 2022.
- Quarterly cash dividend increased from $0.25 to $0.30 per share for October 2023.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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