morning, Thanks, everyone. Chris, good and
pandemic, been note. on around quite months, world a While to drastically us XXXX strong lay continued for long-term and past profitability. small ended the has doing improve to part solid the the in actions the a market volatile improved the outlook company Williams It’s its no few foundation but COVID-XX changed growth and take this time has over to
financial our results EBITDA for revenue the posted annual and positive adjusted XXXX both for with guidance We exceeding year.
our addition, our the were gross margins In at range. high-end of
the also We began with in strides meaningful SG&A consistent strategy [XXXX]. made reducing expenses further in we
non-recurring XXXX Excluding items was expectations. generally our line in SG&A with
in build plan newer larger call, This even the We in in will that in growth Williams including as to better our I profitable we are markets. fourth important company. also a is end working more into experienced XXXX. end, strategic To the results financial review our later that significant successes more diverse backlog quarter, expecting validates and
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but this even gross quarter million $XX.X total. and excluding We in for reported contract million was over termination, an related gross XXXX included fourth quarter margins for XX%. of the to early the million also margin $XX.X The $X.X
XX% for XXXX. As of gross noted earlier, target overall the company margins met to its XX%
year-over-year. $X.X down $X were Operating expenses million for million, quarter the
legal and third million cost tied While in non-recurring expenses due to fees. sequentially the this approximately to $X.X quarter, rose severance, from primarily was professional
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XXX experienced of approximately backlog backlog decommissioned and Canada we million Of of the to took in going two particular our our XXX end wins year. in flexibility provide balance financial million forward. increased XXX were steps strengthen of to of that also revenue million We approximately XX and new this note, XXXX. be total After million anticipate of the will converted quarter, we sheet
and million. will X.X the February completed that review offering] amended brought proceeds Randy net we moment, January a in As [rights facilities initially credit in oversubscribed XXXX in our backed of by in field and one was were
pleased in investors We support and our our lenders was by that are shown very success interest by alike. the and
starting our on add let business details Now, some Slide with X. backlog me our performance to
As backlog a more grew quarter now from I third is noted XXXX of moment million diverse. sequentially the much over ago, XXX and company’s the
in roughly growth of seen industrial energy X we’ve XXX Canadian Vogtle and construction nice and still While the X million project our decommissioning markets. for end accounts total,
other dedicated we’re and revenue the these our in declines Vogtle X years. discussed it future to in in past, to offset areas and expanding as penetration As X
on we work that the to and Southern Vogtle still that two with a just our pandemic due operations in inform running new let me our or note, changes factors, As and XXXX, for will and respectively. up being accordingly properly. planning investors be other COVID-XX site nuclear to adapt the the add time Nuclear continues unabated side If timing new XXXX reactors November to
focused most disruption and the but not those business delayed to largely are remain efforts potential activities track, project we on experienced COVID-XX quarter, XXXX we with on end the pandemic. plans any near far. Nonetheless, thus As the due our first bid for business have our have now of remain the certain areas development been to growth
our pending in our orders have outlook. which We other and pipeline opportunities current support
nuclear Canada] downstream [into Florida power water, are and also expansion prospects end and further and decommissioning pursuing for generation other delivering of energy are industrial There the gas. We markets. plenty within growth oil
for year, remain the confident half. the particularly in we regarding the outlook back So,
However, remains the situation will very closely. we fluid monitor to conditions and continue
X XXXX Slide revenue types. of snapshot market the is and contracts by
gas we’ve year, the in returns. power in more fixed past our risk as Generally During terms be in XX% generation certain derived to speaking, predictable was and the industrial the markets tend midstream street of lower most] price margins which were projects and only of [across from in revenues contracts, are said and nature. and oil
Canada X U.S. last XX% X. was of that industrial year accounted roughly was decommissioning by largest these of end-market about nuclear Fossil at work of X%. nuclear as for by will XX%, million next to reviewed. total Vogtle the revenue I at Most followed just backlog XXX of total at X%, a related Energy grow and and as areas our of with time revenue approximately numbers indicated total percent and and revenue, XX% over
we ongoing by a to the created conditions The about make is few going Randy. the very comments through time over tumultuous important by bring and now X, lives handing governments, the to control being hope call clearly a COVID-XX as Turning pandemic. I quickly alike the possible. obviously the challenges world due to the to scientists before taken most The under overall now that is market threat Slide wanted companies, drug these of actions to as and situation human
handle our the with companies being We markets meantime, in to In we economic better the from in a most serve. developments are issues customers view spot short-term continually the our Williams faced is an tracking as standpoint. than
end services industrial provide the markets segments. and power, and essential the energy, are nature given of Our proof generally the to recession we critical
and sites and downturns. utility projects maintenance upgrades regular water the forward municipality and customers improvements their matter cycles outside in recessionary is infrastructure during grids, and maintenance Transmission infrastructure and related what and happening Our economic world. require require moving no during continuing capital power,
cap, with solid warranty receivables a has and de blue-chip diversified customers, minimis minimal and collection ex-requirements, exposure. Williams backlog
environment, force taken occur significant of the during years. always last are on We the and two in ability our our already also demand SG&A quickly lid We as graphically a business a additional costs. to amount flex the can as of move out work changes have and have keeping
always a streamline markets we operations are pause, some further environment, but company's the in has down take obviously and slowed end further important XXXX. others, outlook remains and is looking reassess slow in mindset This things at dynamics, even the ways and for current has activity uncertain the to projects shareholders. increase or We in bid will remained resilient returns which from as while
company. and about potential for period be bullish which leaner, a a long-term restructuring more from remain has focused, profitable I emerged re-birth to of Williams,
rights million our XXX approximately facilities refinancing of offering. credit completed an backlog and just a have both We oversubscribed and of recently
memory we intend we this a market possible better at point and [indiscernible] economic thought at as to recent very [tunnel] we than be never that with as turn world over, with to of even unmatched conditions. very are future. many business and subject broader soon So, prepared and I end-markets, our ago sitting solid bright negative months would exchange time strong is any a pandemic Williams distress the middle in management events the this but of a balanced in
financial it for few end over call, overall now Randy and we’ll we make discuss of XXXX, detail. our will the the results in more greater guidance I’ll comments at hand review to to a but
