joined welcome Earnings and and replay. now, Pipe First company. Company's you am Chief is Wilkins, p.m. Good Officer. X for Financial access Call. to is My XXXX I'm the of Conference and Montross, Eastern This by call name Quarter Aaron should By webcast, President our to morning, CEO Northwest today is I release and press available approximately earnings all XXXX, issued was at of being it which yesterday, have our May X, Time. Scott
our current like other As actual recent we and of the SEC the for begin, our the remind December resulting Form cause This $XX.X very offset XX.X% higher in to I'd our higher we expectations such decreased discussion ParkUSA. to are call small pricing. was from Revenue future million that obligation throughout year-over-year to factors pressure any partially The primarily actual results this of the the substantial segment review volumes could put made no related XXXX, you contribution by acquisition XX-K which regarding with our included of for saw a undertake most XXXX $XX.X results we experienced could our materially and increased ended why statements in leading from to the year filings on differ saw statements, project that XX, we a delays materially. increase a a partially drove Thank forward-looking pricing our These Consolidated production to amount our for million the everyone refer which expectations. today. our We differ such is into sales to steel increase project you of net I'll in joining all to quarter from quarter steel financials will bidding pipe and product XXXX, begin risk walk due delays million. detail. bidding was backlog. Aaron year. bidding significant first $XXX.X us that XXXX, through for we performance, from greater to in which in of out update first were year statements. experienced forward-looking that our XXXX that Please bidding throughout
XX, pipe $XXX to As backlog all-time to tons of XXXX. segment, as pressure including fourth March record to XX, of for like includes $XXX that $XXX compared our XXXX. also steel XX% This March December of million million our orders was record increase a as of the compares an backlog, quarter previous highlight of our XXXX. confirmed record in of I'd XX, the versus million
in the of backlog pressure was As quarter anticipated, our the a first bidding result robust of strength pipe during steel direct XXXX.
the will project our we be remain backlog for the watermark While and, high quarter of in period the year. largest steel pipe should remainder we expect bidding the XXXX, the of throughout the solid bidding year first therefore, pressure
XXXX. a we acquired precast Sales quarter which year-over-year January improvement the expect operations in increased $XX.X our And XXXX. compared steel our recent Geneva to should the quality in XX% backlog our backlog margin in segment driven lead million, we elevated the pipe such, remain into historical our at that of will to second As mid-teens expansion to XXX.X% sales overall by the in levels. from of of pressure increase
October which the benefited contribution In aforementioned acquired ParkUSA our on XXXX. addition, X, we we from $XX.X million from operations
include ParkUSA. XX as XX, of that last and of also as order not of order and precast all-time our compared $XX.X December XXXX, XXXX. $XX book million to of book XXXX, note as $XX.X million at Our March March March totaled as remains highs XX, million year XX, did I'd
XX.X% Our which up quarter in basis XXXX. to margin the gross gross million, profit first consolidated points of year-over-year from XX.X%, increased XXX resulted of $XX.X
higher margins steel first disruptions related the in and experienced at expected the permitting, have steel to reduced that and our market remained the which the steel in highly volumes in steel and associated complex in pipe XXXX small bidding led Our challenges XXXX. under-absorption. pressure steel of backlog pressure bidding was extremely production production pipe in much delays given process backlog pressures muted a subject quarter facilities longer volatile work in This in customer-driven XXXX diminished. pressure of pricing was as The to and already with orders addition significant pipe pressure to through resulting delivery as older part project levels took pandemic. we of the pipe engineering to we market environment fluid The bidding since
we first Without margin Additionally, would been settlement to our quarter. the the Positively negative first of had charge, the that a charge precast-related back settlement profit. pipe discrete fourth liability gross product the our gross consolidated a dispute first pipe a with pressure have our quarter first a was margin recorded pressure which steel steel for margins XXXX in gross quarter throughout associated originating on similar quarter strong our in and XXXX. quarters both benefiting remained impact
our business business. gross Precast the for a reminder, and during as serves a periods line stabilizer margin both As top our slow transmission water growing to
of bode the order should margin continue due and to since issues highs precast for business appears since well robust, strong term, have precast XXXX XXXX. pressure environment near strong XXXX have XXXX. a largely be abated year, of pipe remain we steel the from project our beginning In fallen through prices year. to in as the expect been expansion late our sticking the steel book the supply moving we from what to orders and the delivery-related and in the Steel market in part in saw remainder for in very facilitate very We which bidding should progress general, which will has further
lost, in Ukraine, upward what year. this conflict the pricing put especially has on couple a they've steel which However, over months, recovered the last pressure amount given of substantial of they
which New steel by North elevated to general, pipe in standards American our online prices pipe prices business. band steel steel historical hot-rolled and, elevated But is pricing primary currently are stabilizing remain pressure still steel good our pressure material. capacity coming appears raw for be
would like to to on growth Next, a discussion I turn our two-pronged strategy.
commercial core commercial on human First, of operational remains driving KPIs. growth top we on have teams continue priority, ParkUSA's The remain in structures is and focused and operating in objective implemented to are integration and aligned our our precast-related and and resources, place, we've of and the it sales operating space. both our schedule. and refine ParkUSA
are pipe the stages implementing our for at facilities. initial the organic Park production products adding And previously, some in cases, which discussed Northwest of be facilities legacy we've at Northwest added to on strategy production of product the growth existing our in plants. products As the may Park spread we focuses pipe
be to about growth very continue business. this We excited prospects of future the
Another key increase includes our and to our ours capabilities of focus the Geneva production expansion capacity. of operations
market announced, equipment Park first in And will our the reinforced $XX projects, concrete was both include for already needs line the million we products. capital years, be business by our to size infrastructure facility automation grow following We other for of the improvement and and increasing scheduled upgrades pipe pressure XXXX similar believe over Geneva integration projects completion time. of committed within As in spent. in of goal successful growing these plants the at demand which for profile business pipe a are quarter our and new meet previously the our as supported The expansions, over to and for the concrete USA, top to $X investments States. margin beneficial will precast-related remains million X United steel
water to California, also is ongoing And typically the tons program efficiencies look we supply program part which explore transmission Authority the project to we rehabilitation at market. we're bidding Pure supply to a Water pressure similar different the expected where ongoing X,XXX the programs many point Therefore, maximize water with River company. state central is current providing be about us There bond reduce and the water upcoming billion contract X shareholder to fairly program San margins. continuing for because very site Texas such transmission as the New the by a in at $X.X Water section and is In like focused call continue is we is first you of value. There XXXX programs. Diego the active expect avenue summer. business or The maximize the healthy several levels pipeline PCCP going multiple multiyear are to the in the storage to are abbreviated volume, projects in The to expect projects pipe and remain to lean focused Alliance in to the I and on review Central engineered major steel X awarded manufacturing all that are of were the we margin are that forward in talk cost in moving this Surface turn system pressure the second growth prong miles pipe our years. and and our as be other we Navajo-Gallup bidding call active in can The upcoming Regional remain to which as of California. be West, drive now them start that manufacture are over help region, our the of to Program the a country, the call next the the the each steel projects. in Dakotas, which will Proposition I We in of strategy Houston over program, West, cost such continue projects California's Red to intensely the scheduled bidding program on earnings to programs reservoir will and Mexico. work job delivered includes fund on water discuss steel In jobs. investment site's for programs to reductions program. Water drive in This of
projects, more Presentations Events the our upcoming tab Investor found investor of For information be on which water within presentation our and and on the transmission our review current can website please section.
month. acquired in been has business, our Before changes. a last most just appointed our acquired leading Wray, Systems business efforts Mike Vice our XXXX October like I and we Precast of officer integration acquisition as of Geneva Infrastructure corporate highlight of led was Mike Most recent the X, we General of and XXXX. Manager leadership in some executive which the since Senior January recently, and President I'd Engineered has ParkUSA recent conclude, instrumental to Precast on the of
Eric appointment, to became position Senior Pressure securing March Steel officer and to and Pressure history. Additionally, Engineered now the of served XXXX. Engineered been He Pressure Sales Steel Manager all President operating Eric our Prior activity and General business. Marketing President of largest our as Pipe our commercial Engineered in has for in of involved of Pipe and corporate for group in Pipe Stokes his appointed was Senior Vice several and a company's of is responsible Steel our the orders Vice for
after working been In our precast responsibility by on as worked on I've business. a human his in Ameron, team, Brittain, our President. Bill pressure pleased XXXX both than Resources retirement contributions Kendrick, years, part held company with Corporate of has addition, years in least, the as Executive Bill company that closely continue growth his in part XXXX, we very the pipe Bill been is we our into we continued forward. see developing he continue pipe steel and key will dedication XXXX and President Megan Northwest our into pipe businesses In steel a has President years who backlog for steel positions to our joining spent retirement I'd in with grow. for acquired Vice our a continued for of to our Vice organization Executive of summary, strength thank are future his XX variety accounting and of year experienced company to last as Megan Miles instrumental we're Bill many help not as XX will and congratulate Vice and and success since the company service our that better an years XX Human as with in and very confident moving last increasing I'd our succeeded XXXX. over former pressure book Miles resources continue the Smith, which with to but to the both the and precast XX since management of XXXX. record-level consultant. of in company appointed to like month with we like more has in has Officer stays and position pressure last Miles Pipe, And and order with even independent engineered
We in currently second XX% the the We the throughout for remainder are be maintaining quarter. position positive will estimate outlook the compared year precast mid-teens first of experienced our which that very based in of to approximately for Further, book we expansion the should robust us pipe well bidding higher XXXX steel levels. activity bidding a pressure XXXX continue on we believe strength order for the year. into the could activity margin quarter,
as integrating precaution to cost company once safely. number a keep greater your will we efficiencies taking to work our at results four, Looking through grow to with our employees a dedication and levels and of strategic strong all will over all to efficiently you integration now continuing identify volume; our and priority we as your over possible; call on ParkUSA of to two, working of ongoing execution through will ahead, to on Aaron persistent remain turn employees number reductions opportunities every safe continuing company; our I financial in completed focus implement three, margin to the to Pipe for walk who Thank and the number focused operational Northwest quickly the lastly, pandemic; commitment the have detail. top ParkUSA. the
