Thank to and are conference our and this each families everyone, you and be stay to to I first and with afternoon, here of welcome you, I'm happy results hope call. your quarter safe. that afternoon, continuing healthy Cindi. Good you
our for in takeaways quarter on commentary XXXX. initiatives. During trends first performance on and and a Wes we outlook and progress our from today's end detail will discuss results update provide strategic call, review provide I'll key our made have market quarter, then the of segment greater on some the
open closing questions We and up will end remarks. for call some then the with
operating new quarter year XXXX operational during experienced another carried results as solid and posted we strong we the into execution. of momentum positive The has
market make strategic position on in on track us progress Based trends important a end expectation our of financial advantage initiatives, regarding We combined year full business to trends, remain strong putting XXXX with the Gulf our are optimistic achieve core region. against our favorable targets. for to Coast the continue initiatives, to outlook take key execution we in our and positive continued these our on
Another will are our ending sheet strong cover both was inorganic quarter million. encouraged important more we with balance This financial but by financial us $XX ample quarter. balance Wes the sheet pursue and our cash of and highlight from position liquidity detail, the very exiting objectives. growth flexibility to in first our organic strong over gives quarter
Division. Now turning to looking segment our at Services results, first, our
our driven markets, continued first business. Safety quarter offshore XX% year-over-year Spark our in Our revenue strength momentum further by increased in services including
our our customers oil for demand strong maintenance favorable capital healthy environment. gas environment and remain generating spending as profitability, key to The customers leading are a
continue pleased continued Spark new the Safety expand are the as of offering to with for services We our traction customers. we base
and business challenge labor. retain attract ability in biggest our to the The remains services craft
in XXXX. retaining focused and we a business in including As talent, to strong and employees new said, our encouraged develop trends to That expect finding our we year remain through a our similar to of result, Dynamic. creative and acquisition the continue Services ways on by remain attract M&A,
to moving on Now Fabrication.
the including Our our in but strong from fabrication large was benefit in declined continued driven small project reported year-over-year business previously entirely the our our legacy The momentum solid strong year's revenue by saw market. during this discussed markets in fabrication results. this last have opportunities last year, the of in we business. fabrication in as quarter the The trends first subsea positive, demand growth and we execution remain
outside target to our end traditional A and markets. key is strategic aspect markets plan gas oil our of of
continue We in see to petrochemical, these have as discussed and potential opportunities the markets. in markets, LNG such we adjacent attractive and
where pursue in our history our of strong of to continue We also strategic end can advantage location. we markets execution new take
key contributor example strong focus. of expand a of fabrication end the during growth first which is small-scale fabrication in structural to for to for our opportunity the an contract our Our the components market was quarter, NASA,
end are is We of place premium than these schedule delivering. certainty, that where more areas seeing a capable and markets on Gulf Island quality
believe pursue these to are As we end in an a attractive we result, position markets. new
pursue to continue several large fabrication We attractive projects.
is However, the and pursuing. we on many uncertainty the in interest decision but ability challenging. rate fabrication the outlook the getting regulatory is, the remain lines more awards, of large large cycles of predict bullish for projects cases, and time to potential uneven are extending many much timing We
existing are as markets, strong combined well the our give us much in meaningful are growth in we dependent positioned tight with small our trends confidence as large business, growth in given fabrication. now market opportunities The well the fabrication for our scale we However, our awards. markets in less end on new capacities,
Finally, to our turning Shipyard Division.
with led warranty up during remaining we highlighted for last call, on obligations first we with the period remaining our the As the of ferry quarter, wind-down associated shipyard our wrapped business. the projects being final operational items the our
and the wind-down the behind and our are all to to Services have focus to pleased in businesses. growing are We shipyard Fabrication and our excited of put us energy
to our end, acquisition that To penetrate will With and strategic new our grow enable financial stable our we partnerships and our to and more with current us increased opportunities pursue efforts we opportunities. further expand fabrication have platform, position, our services growth capabilities markets. platform, strong to acquisition that partnerships and identify ideally existing are combined strategic situated
strategic our growth throughout both inorganic As we in have transformation pursuit done we organic disciplined remain and process, of opportunities. will our
to position, These small-scale gives and stable our us an our together the was strong financial strong to businesses in Fabrication of In our with by very pursue momentum platform combine by highlighted which attractive closing, base business year, which, objectives. more profitable Services the a continued pleased start we're businesses. form growth to our and
position, in the our us. put in see excited and of we execution successful competitive Our of we strategic has are us by a opportunities front strong objectives
I detail. will now Wes results the to to turn call quarterly in over our greater discuss
