us. everyone. welcome, morning, Good you, joining Jeremy Thank and for and thanks
is and our John Acquisitions Officer, of President today our Vice Capital Financial Markets, Katz. Jordan; and Chief me Matt Executive Joining
be deck we’re As a on. Jeremy I’ll pages using mentioned, note which we’ll presentation and
got or to Slide So, X X. Page let’s
preliminary management X, initiatives prepared finally, Number Number X, units. key We X, unit we’ll areas you five we Number business X, detailed mid-Atlantic happening on focus financing. And the to and address company around have foremost comments our for what’s thoughts business strong the our there. on and some of on our XXXX. the John we’re our our see I’ll our performance hit continuing Number comments other going remarks. first update up growth. will of Number to around company’s X, set a focus across provide results with and and wrap
some global with start me off Let comments.
segments. strong for the quarter construction both revenue was and for service Our
isolating our well beating late on projects write we year-on-year several business very incurred with is When to our in mid-Atlantic, SG&A expected, in growth. tracking and leading the the balance quarter in our Our is very, plan region loss of strong quarter. downs performing our in the major substantial as mid-Atlantic but fact
forward. want to explanation give where and I the background, with are, start me we of going thorough you mid-Atlantic. Let a see we what
now So, Slide that to I’d you X. ask move
provide let or region. historically we one across some the The the and projects branch, largest of most location the mid-Atlantic of Limbach me managing Limbach of Limbach’s First, is has been is context projects country by and region. separate hundreds around these Currently, one profitable. and
higher In delays project as us. our teams XXXX. reported our we of However, certain were past have in review completion we of cost the downs our projects reported monthly than of mid-Atlantic majority which the and projects, of the see to several challenges late during to September, certain thought normal with quality majority get starting control outside issues. along process, further began write expected first in behind on of the control, were within took the half their We
then senior on completed to work caused hand delays very issues to well team project final projects, bottom management to as a get options. from information to work and provide projection were was the understand late plan to wanted better these September. review notified of the and recovery management. the This a the of the problems. that cost causing local The late in identify the We Our We October. in agreed to impacts as
to their accounted has know impacts this to within our issues. commence we auditors want bank quarter region everyone the properly auditors realized for all all of our group The our work, management’s the been restate, to the performer confirming and surety due Following or led quarter, the due for work and charges Limbach. to notified strong a To rework. the review delays I in
in the on the leading bottom one delivered of year single XXXX, I region fact, when in contributions the largest particular took from the line In company, company’s one history.
this and XXXX, over region tight stellar through range years period about the period. both years average X% and the average revenue provided EBIT had $XX XXXX and some but delivered It average solid performer. Over million during an the of recession, a on the
happened. revenues deal to XXXX capital with growing XXXX. the deliver The XXX have up stressed will that enough million against just realizing was again in of capacity over us. region’s what delays what sold, business side the to number all repeat and mechanical We didn’t was and So, the on while in human that to plumbing stacked with
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those you help, can't the simply and region travelled tower the you past several have is Washington that in but years just over booming. around The For of all cranes. notice D.C.
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recently and construction have brand more both with strong local We a in and reputation electrical. service and
on stand out opened we drywall originally into but to Hotel month. and this do scheduled for September financial just Marriott we it work finish where due earlier Place, larger couldn’t Columbia It this dragged the impacts. the The was had concerns, our have projects moment. that So,
further initial completion. Institute but we we have to with substantial should delays, after to of [ph] start-up, believe [Secured] Project Our National able continues Standard face Thanksgiving be the
will QX of the in Our plumbing seven project XXXX. [Realtor Dallas] we're stations complete where installing [ph] on substantially HVAC and
hospital have the of Finally, which month. numerous a rough the the our very end with faced of little next majority delays on upfront relief the project, schedule systems complete back-end of large will
Our our manpower see to normalized we and month. to XXX down levels next expect to is that now drop
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negotiations focus of our leadership, unit scalable effort, the be on order backlog providing transparent, in about strategy focused To the specific We Limbach capital, a and actions us the within our reinforce proven completion four X, across open weekly our my mid-Atlantic, manager creating an our sufficient auditing we a and there the to our the our project Number to for mid-Atlantic, for our we the remaining Number Number our business on to business and collection up recovery profitability capital. support a on and staff with always and increased process. These X, long-term. is work a unit future. understand to that to training But timeliness previously of reporting have commenced the of have additional our training We company matters. the craft and focus which operations leader stronger involve period, our of informant along as operations. range. information in processes. through another claims branch’s with mentioned especially assistant outstanding investors, comments allows timely superintendent's manpower our have new completion have monitor work wrap to we management we goal that from X, are change collecting region stay weekly acceptable with
I'm was the our performing guidance there terrific write-downs exercise the strategy cost company to to region going the gross laid investors of XXX the number in million. will the news. a coming quarter. surrounding we we’re hand assessment maintaining some of mid-Atlantic. mid-Atlantic any on from preparation out certainly assessing Slide certainly third We you X, work the for a in of have you in in of is X to of month Slide work we all the as are to million a million hearing moving the for and Overall the is handle accurate to to our business diligently the revenue full-year be the of as the the be absent XXXX team open as could at were the On in region, the information now. of margin challenges? end September Do strategy XXX the news on understand We big. major result in Alright. since October. our a call. of which address is during this questions diligently a project and move region of see around have of and accurate activities challenges these As questions out reviews mid-Atlantic the late totaled This This X.X well write-down to on parts with the region, quarter our and
due With the million the September for reach the XX, at project with XXX.X write-downs. and performing construction XX.X%. mid-Atlantic down backlog of When of mid-Atlantic year-on-year remove gross profit was quarter, year-to-date is profit confident the margin I’m service from of you our performance at our Gross mix, the targeted guidance. of million revenues and of we’ll XXX the rest to business growth XX.X%
profit As Service several down is expect in by has previously XX% booked. of to XX% range. construction to due September see sales basis basis of Year-on-year XX bookings the stated, points. service comparison XX margins as gross XX we to projects of larger being points,
points basis T&M service our basis XXX up are points. contracts maintenance and spot on up XXX margins Our contracts are or
to opportunities. push see margins we our continue We where the
Now, moving on to Slide X.
be Our of company, pipeline steady have billion very remaining million, the look level our allowing X.X to XXX us. in selective work we a our tracked. robust work which of aggregate promised what combined plus XXX is pursue. over being we ahead of combining backlog at us with more million When remains The million, we is across XXX of
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million leaves XXX work XXXX XXXX. graphic full on this slide of with if quarter, million the As we the the for in the us through shows, XXX burn
have opportunities UHS, HCA, with pf major such a we’re Eight data next the regional as healthcare phase major several pursuing forward, players. and center. Looking several projects we mega
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projects our these engineering Michigan While services revenue operation are preconstruction backlog, through the provide will XXXX. to in in
number Orlando in continue projects contractor a We’re Disney viewed be on mechanical of we a properties. to the as very tracking respected also where Disney
major growth. red done right we’ve Florida that a is that with there’s have, and on we pulling is of of and commented, FCOC in terrific job our staying really share previously going to profitable we're fair disciplined smart hot a business. As now update
Our expansion extremely well, to better Southeast expected. Florida is actually going than
with reported during at England. units, We’re tracking I next the Ohio Southern XX we’re Jacksonville, note building. our also California, want possible year-on-year engagement and completing Florida expansion one in business the XX of in quarter to step looking first that our Of New occurred our net Florida in where for quarter growth zero ahead plan. to England, New
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excluding plan figures business, the of mid-Atlantic. results this provide In a now On mid-Atlantic. excluding we reported have for our column, our we Turning to recap Slide for third slide, year comparing X. the the year-to-date those as also
see, ahead of XX% EBITDA plan. plan, can revenues bit of is a a our remarkable but you As are ahead
controlling SG&A coupled excluding pricing profitability, in us expense, with translating upward is into our success Our improved Mid-Atlantic. by
on the Maintenance X in prior service started service program year. as I’ll service XX% XX.X September were for were sales just sales above move address Let’s of amount contract record the from rapid well. up since X million where of performing expansion back of Slide year-to-date year segment the our we all segment Year-to-date are million, where the XXXX. to aspects
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as we executed the Here in project were our employed properly very to Number are weekly us the taken. to of They some big this will our actions we Number refinement have core policy XXXX data found profits. monthly around X, and refer better review to of construction and forward our further project. daily, candidly practices, we QX August More accountable to metrics. timely management processes and X, not been indicators the to acquisition people administration have with engaged since which allow and in strong improve processes. mid-Atlantic. review holding introduction a of those We of consultant data
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In our our human in very, terms reputations and stellar of have local company capital, Limbach recruitment executives of is a attractive employer. our markets. very
this for for have in at heated we our in execute our given grow, And and how we hire a construction be more to to to excellent many However, need labor could self-contracting booming looking projections the self people market our more careful but again, needs a expect employing we we manpower. in maintain industry, forward work determine continue period also to community. and and with we relationships region within our contractors to
oversight. super regional with Prior Limbach the to employed re-introducing presidents X recession, regional also the to We’re great ratio the with business units. X
of minutes experienced Assessment with tied want to to business growth, Slide elevating for Operating program. out Energy spend take growth I management the reintroducing will coming needs the Limbach With LEAP proven continued turning This December Co-Chief have the stands a we is X. manager to of Performance. LEAP business And for are XX. structured review be that we our our unit existing move effect our Officer. now This XXXX expected introducing few a to plan. along
For known performed projects as years Limbach performance-related performance has various contracting. energy
systems. control building installed also We
energy to ability a to During our our sell and that work owners. we systems, building related across more came projects, service direct automation technology building solution acquisition pursuits, would enhance all
and the results this been positive. year, piloted earlier have have program very We the
buildings, profitable units. into achieve Michigan success, to We’ll to other allowing the competition we business units. us the a owners ramping introduce tend expand units, balance financing by recommend to LEAP a in point, apart providing this continued we Assessment to on we which Ohio service couple of Performance our projects energy launching for another building of will cash and the to XXXX, off and into direct collecting be building up going It John move allows hand Energy our to various to At to data conference optimum us flow business be review the our owner sets our business discussions. realized or our we will well offering on in This complex pieces sheet for us and services, offering be to focused our for I'm us. performance As of from Limbach equipment performance. service most
