Great. us. you, you Garrett, for joining Thank everyone. afternoon, Thank and good
and I'm discuss Marine through recent provide with run announcements performance we'll then a quarter Global third going our to to high-level and Broadcasting. of our respect
quarter's for Sena, Our and call then CFO, performance your the then discuss in detail Q&A. open we'll financial up Mike more will the
made with sale Marine we process, the significant what would performance we portfolio highlight to remiss for respect a if the first While progress very didn't Global quarter. from be I was our solid
our increased remain over for which And to segments sign led deleveraging, to by story shape Construction great term. is generated a while strong committed adjusted the the to continues HCX increase take within $XX.X XX% another which XX% subsidiaries segment our in core a operating from EBITDA for million, long year-over-year EBITDA. we Adjusted our business quarter by
an engaged Energy saw last XX quarter projects produced in XXX% also from improved EBITDA, increase adjusted Services previously a performance and now of as CNG delayed from We fully by are Marine driven which its acquisition stations.
increased adjusted EBITDA the prior-year from Total to million. $XX.X period XX%
at carrying life while MediBeacon from In RX. our at corporate expenditures the reducing at by offset at fundings segments, the partially have expenses losses and sciences in improvement been successful addition to broadcasting increased we following recent core
As they to attempt a ramping up reminder, we R&D commercialization. MediBeacon at will and RX reach both be as
million. our have million. platform. That continues solid already funded. million that quarter income brings the income We to total for to year-to-date of $XX.X are pretax income our going $XX.X for and operating levels to $XX.X capital investments impact strong cash and have performance income EBITDA net and September adjusted net million operating the pretax reported forward, on segment of another will may However, having $XX.X an perform while overall these well on it impact as And no Insurance
accomplished testament this initial in to the by is Continental real ago, entire years execution a just being four our this team. of was segment investment the Considering quality
Before the moving year. we've ability throughout pull our on our holding consistently, we given the structure up of cash company liquidity to to have at as business, quick a level, forward, noted the the from update holdco our segments
BeneVir Thus We as management of approximately quarter, $X received And million we escrow in received the in million XX, payment in million in dividend $X far September and Continental have $X.X we've from September. the from fees fourth net cash. Telecom. a
year. we back our from another as in quarter, did the the distribution this in Later second we of segment expect past just receive Construction quarter to
in As Marine out interested to the a interest our December have meet result, ongoing been our comfortably way, investors if payments. With are Global process. aware that covered we that the we very remain keenly
We for been at deliver number very our the holdco to is priority one clear level. sheet our have some that time balance
Optic-Electric announcement We an with patience, Company. week's first that step HMN to the sell And completed step pleased and process Hengtong was joint Group's in toward Global goal. very Marine we're accomplishing everyone's the appreciate to an venture important we've the last stake agreement in
Marine’s HMN a values stake at Global Global HMN Marine ownership million selling closing at XX% two-year agreement, which million. exercise will market of the XX% was at at and $XXX $XXX retain at for will the current under valuation greater Hengtong option is of valued it XXXX put the XX% value which a million fair approximately $XXX in interest to that time. be equity able to
Marine. of to quarter sale of JV stake after own The ultimately Hengtong during purchase Huawei’s of completed it with option. upon first the closing and Marine’s JV completes XXXX is to Global subject full XX% expected to owner the become put be the will the of then conditions XXX% will customary of Global its delivered exercise proceeds
this outcome We are at for venture. extremely joint the HMN pleased
relationship we've grow our over well. wish a past to whom joint venture the them working long-term five years with and partners strong the enjoyed We appreciate
focus our in forward, stake Moving majority our completely shifted has to Global Marine.
much that last from process our acquirers. more on high-quality been a in robust multiple noted We receiving past, sales than seeing call the we've bids
the the culmination will of the quarter. approaching process of We the further be and are through move now sales we along Marine believe process Global as in the balance for we
an the share will HCX would able stake, pending we of for in agreement be any net majority utilized our proceeds announce that sale Assuming we to reduce both to satisfaction the HMN sales allow and from after should expect Global concert our consolidated at capital of obligations and are of the course term. debt to with interest This of eliminated longer us ultimately hold of the our indebtedness sale. will Marine any cost significantly HCX co level and be reduce expense our over with
still excited need execute to we this the make of on our that to fully execute only part that consistently to noted we are able and mistake next we deliver And strategic be on of and know to way goals We've step. we're promise. part on no need there
our our that on clearly if to delever, noted monetization I portfolio for valued. additional evaluate Global to As paths with process of at this last additional companies other continue call appropriately is the forefront we
and able As will value creating we in balance show a we see benefits progress diversified improving be are to we portfolio. believe the of our investors the sheet,
As in ongoing answer my cannot Marine time or questions standalone given beyond the the process. quarters prior of very it remarks sale Global comment is at here, on active and we a further still
a coupon privately-placed an we XXXX. X.X% pick Along the the completed $XX Marine of issuance have notes of newly HCX important by front, with rate These Global the at mature with of and blended positive Broadcasting. on segment the in refinancing million news broadcasting recently October
and as used acquisitions, notes to corporate capital retire well as existing financing HCX the were Net to pending fund working proceeds XXXX purposes. general from Broadcasting’s
financing platform this for build-out completed, to infrastructure. package distribution our returns With our stations further of well as our the upgrading focus our broadcasting and as technology
that year. earlier length strategy We long-term creation. a talked broadcasting we this strategy our potential time, that value since call more enormous on at confident to And even conference has to say, about suffice drive are
following seen a steady in quarterly large and basis. counts on cable subscriber Some operators of you and may be have losses the the satellite
we rapid have not in occurring past cord-cutting time as very quarter, anticipated. American third four than cable their had noted of over platforms seen only rapidly to just subscribers real that million leave from is satellite alone. acceleration is largest phenomenon here cord-cutting This stay, X.X consumers we in they quarter of more it saw the and providers XXXX The the of
our a well own of XX strategy. platform. OTA operating this different now XXX America in Azteca our the very including networks X distribution of We or bodes host This stations on top over residing and DMAs over-the-air for platform have XX
our OTA platform, our this of enable completion us networks broadcast are reaching viewership. financing, the the with that OTA growing of to to content further providers content reach will us we on toward our way allow goal well With which homes wish of to quality U.S. and and nationwide attract XX%plus
and few some building With the over into we step them through moving infrastructure strategy closing the technology one construction hold fully are two, the XXX now firmly out pending are and financing years. winding of of step and to upgrading our and up licenses now stations our silent broadcast XXX operational some acquisitions is complete, permits which of next we the turning
these analyzing continuously depth. to we our and breadth may look circumstances and are our and acquire or to certain stations sell We optimize in trade of portfolio permits, geographic licenses
plus with the to provide reach months, us to distribution which we coverage, the XX U.S. Once within of next goal in expect XX household completed our over-the-air XX% platform the would largest
couple strategy a our flows. of sustainable to growing generate elements core have broadcasting of our platform we and and reminder, a monetize As cash distribution
which station part these to to we these This have channels content. core a Leasing XX are now of we generation. we revenue as providers, is number third-party increase channels on will, Today, our X,XXX XXX deliver doing different available course, stations over our with content approximately of increase count. networks,
agreements discussed also major with We've various revenue content providers. sharing
have American language we broadcasting. that our Hispanic a America, content are we audiences that own Spanish leading Additionally, delivers network to Azteca network currently
we able we As revenues. are advertising generate own network, ongoing to the
the given a others platform capital facto amount platform strategy. stations us providing would de to over incredible amounts this and to for and licenses with available, attempt a last it we've similar that in the building the of two value build barrier capital rising to fewer utilized future Keep mind years in effort this require OTA in entry the of of
our fully can Beyond revenue we platform built. the once believe rapid is we growth, achieve
midst remotely allow This the us of centrally. our completed, and costs media to of will completing broadcast the move the significantly to the of to in are stations. center we able our operating Once be network We our lower cloud. operate gateway will
providers almost sign up allow will cost the which additional fixed capacity. long-term filling as our structure and expansion rapid margin we for up will the be significant completely us Essentially, potential
to adjusted shareholders. value rapidly equate everything coming We're together. should to and significant add growing excited EBITDA see sustainable very annual ultimately and which That will long-term for revenue
quite also with our operations. and from we're excited in very but results obviously HCX’s the We're present ongoing future confident very pleased
segment and GrayWolf construction a execution to strong had far has contribution continue as strong project acquisition from the bolster XXXX Our thus results.
maintain Importantly, healthy backlog. a adjusted Construction continues to
aspects all $XXX end a at DBM’s the backlog fully in quarter adjusted is just operation And almost over fact, GrayWolf was year. In been record. over of past million has integrated which
and look his great have of segment's team a and job potential in executing the to done Russ we the on favorably come. years
that target expect adjusted construction XXXX. the in its to still million million also $XX at $XX full hit We EBITDA year will for
has no exception. us and as insurance noted wonderful Additionally, been I contributor was the this before, year, quarter for third a
segments Construction over value as at platform. are the are the Sciences, Life value Energy we Our positioned our grow in and continue segments build our and Insurance proof we create HCX for shareholders strongly unlock inherent and significant And value Broadcast to to long-term. the to and
of our call who now discuss CFO, some third I'll that, With quarter turn highlights. XXXX financial Mike Mike? will to over the Sena, our
