welcome Company's Officer. and Northwest Earnings morning, Wilkins, company. to Good and by today Pipe and of My Aaron is I'm joined President Chief Conference name Third Scott am Montross, Financial I our webcast, CEO the Call. approximately release, issued XXXX yesterday, being October By now, have it should call was you and Eastern access to This XXXX, for which at X:XX available all of our p.m. Time. earnings replay. press is XX, is Quarter
from detail. our review of quarterly no for and everyone As other regarding key we I'll factors delivered results records financials walk XX-K a with the differ begin, of our you SEC statements.
Thank that future actual I'd will obligation begin new Aaron our third could joining third achieving we the December greater us through to for quarter from all results, XXXX. forward-looking ended discussion such expectations risk any year actual differ made metrics. expectations. like are call to XXXX, to expectations. in this could outlook our recent performance statements, you materially Once then and refer update in again, today. financial to undertake for and strong remind filings our results most We on Form the quarter that XX, a several forward-looking statements for our materially Please cause in
as on pressure our ongoing precast was of as by pipe well our steel growth performance side in residential driven Our business. the strength business
generated reported million, revenue the increased strong third was X.X% our reflecting quarter a the gross $XX And also quarter Our consolidated the ever company. the profit second record. of outpacing million highest sales quarterly to in and year-over-year $XXX.X quarterly by net
segment totaling million level on pipe line at flow our steel our further results. management X.X% our pressure effective record increasing helped year-over-year cash Revenue strong segment working generation.
To $XX.X another levels break and quarter addition, in of expectations. down from capital focus remained In our drive with near
production second Our the XXXX carried the of in levels as as due performance has the continued in over well reflected environment bidding strength half into that timing. primarily ongoing high to changes
SPP XXXX, from $XXX as and confirmed as including Our backlog, June million of September XXXX. XX, orders, XX, of $XXX of from The million was down XX. as $XXX down September million
has timing backlog Although mix the in projects. backlog our bids number done of and with to team the a and steel bid the in backlog attribute lesser tons environment strong bidding declined, expected significant backlog prices.
Nevertheless, we quarter. executing job primarily our We healthy and to awards, our expected in job of decline to remains extent, the quarter SPP fourth lower believe remains on our a tremendous a third
As our a to through we result, improve expect backlog year-end.
Our partially third selling costs. quarter by due lower material offset lower prices to performance raw realized was primarily
to X steel ton about stabilizing prices of weeks. they lead the $XXX volatile per the be quarter, were to appear with standing X times course third in range, While throughout fairly the at
strong Geneva robust a our the in by production year-over-year Now and to our operational strong levels. our new backdrop XX.X% field of turning shipment which Precast a precast by business, execution teams resulted of residential increased and revenue of driven record million, on to $XX.X segment. continued the side quarterly demand in
rate current related Park commercial on precast of nonresidential our shipments continued impact construction business portion environment due the offset construction of strength, of interest mainly the portion of the on to the some business. However, this reduced at
our To events production is generally continue severe up impacted rates in months XX% in versus which projects we in for a extent, to a levels. market this become expect to weather Texas lesser experienced by reverse the prior July.
Currently and and down. We also as construction segments was tailwind breaking ground, to come nonresidential respectively, the about are year's X%, commercial are the XX planning, and that in institutional going the
time to planning breaking length compress. between ground and As is expected interest rates the fall, of
As are the in expecting nonresidential strength we near-term market. a result, upcoming
part On precast XXXX, multiple the pricing business by the side, throughout demand the of we've enacted driven increases experienced at residential price our has strong locations. that Geneva
as it downward However, experienced nonresidential the some has negative commercial impact and had business elevated demand. interest of our on precast the pressure pricing a environment rate the result construction
near XX in strengthen additional Fed to September the year-end, initial the expect in cut the term. construction are and basis before With rate expected market cuts that nonresidential point we the
September $XX June of traditionally of the modestly from the as September resilience enter slower we it time Precast totaled $XX XXXX. XX, year, order the from book million segment XX, XXXX, reflecting as down and of up million, $XX was of XX, as As our million this
resulted up XX.X%, year-over-year company. in reported margin consolidated gross XX% XXXX. gross the and a the increased strong current of profit third SPP for quarterly new Our gross gross of profit configuration $XX is in from the third quarter to of we've record for margin quarter the for This million, which strongest quarterly the company. XX.X% the a precast
changes we've points margin strength the in strong, primarily due production product This, Our over high points experiencing. volume overhead the absorption SPP XX.X% basis of to increasing in strong was by as been over prior activity well mix. year gross the and in XX to addition prior as the bidding period XXX approximately with basis quarter, ongoing
the the changes over of by XXX XX.X% market improved strength on the construction the Geneva product mix. the quarter, in Our construction the prior ago points gross year basis versus year precash points approximately location strengthened Margins prior in well residential resulting over the of and side period as quarter. basis residential XXX margin as primarily from
rate construction indicated, by creating adversely market commercial some margin interest As been compression. environment nonresidential demand affected the high has
reduced overhead impacting facilities, margins. levels, quarter third on not further the weather-related also production third early to production at our shipping but days lower early only addition, impacts revenue nonresidential and In severe reduced leading quarter Park absorption
provide over of Texas worth strategy on product business. spread projects update have worth like and the outside Precast booked our of I promote million to an Next, $X state approximately growth $XX of the organic to orders. bid million of in Year-to-date, we would on
result production efforts efficiency approximately projects. As ongoing to maximize we utilization plants overall gained booking additional park-related the to volume.
Further, in and plants our of on capacity of spread precast enhance our Geneva Utah at Texas-based by a at $X.X million traction product
projects to excess at look $X of Our in in goal Geneva million is worth XXXX. park-related of
pipe once As planning scheduled stage park to geographic occur Pipe is additional at capacity, in and Precast positioning the established plan product mill that current to Geneva strategy This City years.
Further are we business is the locations, our at and reinforced and over couple facility the of spread Northwest new we production the for report products expanding to Utah previously the capacity Salt is in Lake additional completion. additional Utah capabilities, our to investment manhole expand growth. pleased near next This unlock noted, the to our our will locations. concrete
candidate shares reach to by our in be in to accretive manufacturing and the growth repurchase would the margins strategy production incurred evaluate continuing opportunities, organic [ efficiencies our positive acquisition finance deliver strategy, and cash of The repaying geographic organic may Park consistent opt addition our progress absence possess would are our and generation.
Properly philosophy. expanding potential execute precast debt, we space we've accretive our activities, top we growth for allocation precast earnings, to a to our increasing remains ] product portfolio. of flow to that our deal In accelerate capabilities actively XXXX and And of related our help in strategic common M&A enhance stock. growth, the focus capital opportunities USA strong our of
shares in we approach of third since November shares our of the September XX. initial bought during $X.X for as back million repurchase on While a opportunistic XXXX, repurchase we our did remain not share of any total we in the quarter, authorization XXX,XXX
relatively I due to we've stronger slowest year major In that the overall to a booked fourth on we being holidays we than as I'd summarize Before projects our SPP generally of year, it recent business, of impact years weather-related anticipate primarily our quarter revenue a for well volume. margins quarter as of in gross X we for their quarter to production expected fourth of mix related strong seen events.
Nevertheless, outlook to expect a and the be XXXX. the is and conclude, quarter despite like fourth
website. amount also portion projects which strong be investor of on of steel on We the the remain expected we're activity by the remain water found and volume Relations can backlog expect to historical detailed given of upcoming of presentation in our seeing for Investor current standards transmission our pressure by our XXXX.
Further, encouraged we bidding the remainder pipe
the business, stable Precast margins. year to continue XXXX, be bidding expect record We we to our XXXX sequentially reported the down gross are just revenue fourth third in to relatively with healthy similar from quarter levels.
In expecting a quarter we
for safety we in We with shareholder the all growing Thank stakeholder team growth the I'm value. of success business you continue need pursuit position.
In as significant housing strong given our infrastructure for spending of long pent-up the for Precast dedication quarter. level enhanced and demand, members of a operational in and the market of to term in to the in in and your in specifically and the very believe growing our mid- delivered financial performance the the strength residential U.S. our we to strategy continued execute third to and field pleased summary,
that anticipated to performance remain environment into to elevated be continues throughout year XXXX. bolstered of by and the strong bidding in is Our the a XXXX balance
the maintaining a our implement four, all focusing to shareholders persistently to company; to opportunities, to over and priorities Looking of you at detail. in absence proud remain continuing focus workplace opportunistic opportunities work intensifying to walk efficiencies returning acquisition repurchases. employees through three, who through on: reductions five, ahead, company; our I and where will over strategic now on value greater the call M&A our cost on turn will are our of our levels one, financials margin the safe in Aaron, to grow share the volume;
