the it welcome to full and Eastern is Pipe fourth CEO Company's Montross, Aaron today being yesterday, Good By our Wilkins, XXXX XXXX March now, to earnings access and Chief of and President year I'm name I'm at you available Time. release, conference is press quarter joined and by morning is approximately the Northwest company. should call. Scott of Officer. earnings and which p.m. This replay. X, webcast call Financial have X:XX all our for was issued My
their of results results we made differ no from that pandemic went to that The for refer priority. most and for always lengths our as like and top factors on we've could As ensure for and to onset the would the their full the to the a filings of joining materially. to recent given our on to our our XXXX statements our even regarding our update Pipe year had for communities in further the financials year society greater actual other our impact Form with families, obligation expectations. discussion economy of and COVID-XX through you call our XXXX at that highly actual At our that Northwest XX, Thank our we any and detail. begin expectations the results. employees, the review forward-looking taken quarter would year-ended could I this in forward-looking challenging a significant of are and year call was safety all large. very safety health cause you December has the families fourth performance. SEC to Please remind Aaron our great like begin, I as walk future seriously. XX-K pandemic our will statements. of employees, everyone our materially and it today risk solidified the XXXX a and We then ongoing differ discuss Company to to undertake statements,
year, same efficient, continuing the to even to related more the experienced enable time disruptions Throughout be past period, States. many arrangements virus employees. plants the we've paid and in operational leave at remote while learned at our we've working this During of our to the trying for United additional
able these and to and to However, to infrastructure our time we've through products customers. on ship those issues products work continue been critical water produce
experienced Colorado, infrastructure As recall, mandated for you due also San to may we closure at Mexico a Luis in facility of the Rio second water quarter majority temporary the pandemic. the government manufacturing our
then return and exceed However, to we production operations were able June, resuming quickly to since pre-COVID levels. in
to our Now results. turning
$XXX XX December of including million, compared of at orders fourth approximately our million consecutive exceeding million quarter was is and As for historical third Northwest the we standards. with $XXX million fourth marks confirmed to which of quarter of the The the end of our backlog a tenth end by the at Business Pipe the $XXX XXXX, believe quarter strong quarter very backlog Legacy XXXX. $XXX
quarters between million has our XX $XXX and million. past the backlog Over fluctuated $XXX
XXXX will weather by by nationwide adverse compounded on impacted to related was backlog weeks. of pandemic. early that second the Our effect in we’ve and experienced XXXX have the half in been an have delays we delays experienced bidding recent the events These the
pipe to project simply reiterate are these as to look continues bidding current delays. the these I nature We not would strong. like cancellations, temporary as view pressure disruptions However, but in steel schedule
increased strong Despite both we elevated $XX.X revenue business Geneva. performance the concrete in million, a XXXX. of contribution net annual is which our which on seasonally environment, Geneva acquisition months, time precast for even book This of from $XXX.X order during generated year. the business, completed and continued the this slower winter helped our addition, XX, the profit included has the In remained Geneva We current months precast the million as of sales January dollars. represents gross revenue only XX complex
gross job a legacy further XX into of strategy, Solid from positive results XX.X% a to Geneva to help Revenue business related which key shifting pipe our contributions million diversification positive from and out margins the our element and steel up negatively production year-over-year dollars in XXXX. our $XX.X from These points gross basis I'll was drive impacted further increase on XXXX. in pressure X.X% volumes profit of legacy demonstrate momentarily. a growth timing decreased and elaborate by margin
jobs pipe bidding environment. due With the this and fluid pressure as has to longer been engineering highly permitting, macroeconomic complex for with projects momentum, have and background, inherent steel While quarter the to process the challenges first delivery we in expect of taking delays impact current market steel resulting in The effects as disruptions in extreme bidding conditions and delays. production be the weather parts various steel business. pressure of pipe as of challenging volatility specific period the due in country, to well a
is seeing XXXX However, seasonal and calendar of as strong time even the bidding currently a well for as the a precast order we business, concrete pipe book slow during strong steel are pressure year. that the
the we conditions result, move we to of as through part XXXX. market expect early As stabilize a
to a like I'd discussion turn of to our two-pronged growth Now strategy.
in focused which this ago the slower First, transactional the over in business legacy was strategy with precast pipe is entered of to market. on of steel Since then market nature exactly Geneva. business, growth a what helped the concrete intended We we are offset year do. just periods the our pressure acquisition precast the has concrete
million annually. we've billion and market to opportunities space, include fairly which are precast expansion to to specifically steel for in pipe the $XXX billion products $X addressable is an $X.X estimated $XXX U.S. margin market limited concrete Given the related in acquisition the in our higher our market, product water million opportunities pressure expanded precast
possess Our opportunities and good potential active ideal market efficiency margin characteristics, targets. acquisition precast growth strong potential, very asset multiple concrete We profile. flow strong solid with cash candidates organic in a in would the remain evaluating
on building we've prior been balance sheet. our year, the million was year the the Geneva $XX XX exceeding such just ended intently with As which our $XX.X million on last We balance of on in cash cash, to focused December acquisition.
As recall, $XX a acquisition with you may we our and $XX.X term cash-on-hand banking the of through a Geneva loan million financed of partners. combination million
management our essentially of to ability scratch our rebuild assets. Our current highlights strong from reserves cash
year. In trended over pleased addition, of how integration the we the has very course of with are past Geneva the
process significant organic RCP believe corrosive which have growth we innovative We applications, are commercializing and use in new potential. in of the currently manholes sewer for
our to of core which remains prong second maximize The business, water steel transmission strategy is our pressure pipe key.
Upper water pipeline order water water We in move manufacturing XXXX, early The and in new water pipeline XX,XXX to XXXX to or further pipe. North the is shareholder Worth Our Construction to XX,XXX years design one, a western new package goal to phase. the major year. multiple holding for facilities in in to value is we've this that and efficiencies, Prop In tons business out pump program optimize begin to is measures pipeline, market, treatment billion Texas been program. those last in to California over is tons The and Dallas XX% significant market to progress authorities is made drive expected the reduction funding maximize three has lean projects in and of surface Construction Trinity as much-needed According built Harris through a Lake the Regional dam expected new multi-year, forecasted another continue a of Fort outside current West Agency, Water next next the currently in are state. having Texas have into to be various anticipate be Water to ongoing resources another timeline. transmission projects Resources the year. tons of and of currently opportunities we multiagency segments for program within This the expected now late begin There additional $X.X beyond for Regional Authority reservoir creating pipe. Water for County in XXXX tons infrastructure to currently bid representing for California's This fiscal for the created the appears dam XXXX. appropriated is upcoming and and is includes XXXX/XXXX includes projects. reductions. drive program with the working will funds XX,XXX of Central to now and Authorities. for In large bond represents pipe Metroplex. engineering Alliance look program to explore is turn The projects construction station regional efficiencies additional Ralph the cost represents Natural representing Regional water the at to I further bid both Texas XX,XXX District. multi-agency Houston the Hall cost
for generated new requirements to projects see have these the next opportunities California which for the stretch over market, on the continue programs bidding in several next We to we Water expect activity year. out reuse expect years.
the MWD miles X,XXX program rehabilitation as We one LA tons operating have facilities Sanitation the The and pipe. regional demonstration reuse with early and program recycle conveyance reclamation been to full-scale diameter X,XXX Southern of heading current and sizable three months, The treatment tons. large annually bidding in of in is XXXX, over six result XXXX. in reuse begin project the representing from in three conjunction two construction largest years. could will XX-plus This has a identified and pilot of water PCCP about facility projects will for facility involves California next District. treat as
be to moving pipe, funding involve XXXX, recently approximately and earnest design so scheduled In miles North XXX-mile is later inch the The The for progress activity a in year two This funding. slowdown ton the Valley site's their slow received line. Pipe. The will will XX,XXX begin of forecasted to these commit system. it Nevada Northwest year. a of water storage southern of January miles from XXXX. and that bulk the has seen construction program, project water shifted Water full has Red on legislative started XXXX. have work upon We XXX tentatively was part related, The dependent session Water delivery is Supply of River bid awarded has this Authority which in XX reservoirs timing to Prop Project. preliminary demonstration one, COVID project Dakota, has has XX- to this year of the forward project this in include which The begun to expansion appears steel of this of with to project XX inch with over in this XXXX mile Southern projects pipe
Engineers of in approval of Decision Denver XX pipe do Integrated in of We discussion safely construction now is tracking bidding Colorado, as miles Army uncertainty. strategy we The In assembly. employees the challenging the of broader for Fort located healthy our as and north legislative economic an expected be favorable, pipeline a Project. to to by executing XXX despite start structure calendar Northern throughout highly In in Collins closely to so of strong. of state Record the outcome excellent are the year. up job possible delays of If continues the continued a further The U.S. The current the summary, area. tracking Corps pressure is project of doing our due are have remains XXXX business our budget at to miles to late XXXX. Supply steel
optimistic XXXX a we year. such, that are As will cautiously be solid
two-pronged positioned growth strong well position. to given to continue remain sheet our liquidity balance execute we strategy and Lastly, our
forward focused COVID-XX number and will three, margin all the who pandemic; number number identifying our precaution on on through we to to taking quarter will our and focus company for number the one two, our over strategic walk year over reductions the opportunities cost As to efficiencies company. now every in priority growth detail. the we a implement of fourth turn safe through greater four, of and levels employees full call volume; remain ongoing continuing I will at results move financial keep Aaron persistent
