Thanks Scott.
before, forward Solutions few honored Finance, interim as been take a get of more road. explanation particularly XXXX also the like President back as CFO to to be Although our you since of to community of a January. I’ve I’ve in I’ll Treasurer XXXX provide financial I’d I’ll spoken you we Charah with in where think analyst joined investor detail many This moment I XXXX areas look to introduce as myself. many the briefly and and and Vice serve I more the cover guidance. may additional meeting regard review Brickhaven to with contract. on results some our and morning, helpful, in the I
in due beat profit of under million of the primarily XXXX record to of exceeded range noted, expectations increased our some the midpoint the which our for tons ahead XX% range work IPO. Riverbend, The which $XX contract versus of million year to million, our our our from Scott occurred guidance guidance $XX December. a aggregating $XX ash reserve net increased Revenues for several other at loss of third recorded EBITDA the approximately excludes net expenses the tax-effective loss per guidance or basis, million of expenses year litigation We $XX million a or because which these $XX to for per and share our primarily million transaction-related million. diluted $X.XX income million. of was a non-recurring million GAAP had a share. to $X million. of for or $XX range year, million $XX of the a time $XXX November As supplied Exelon results both related full $XXX XXXX to of was was $X.XX $XXX $XXX additional in Gross on of was quarter our non-outage Adjusted within to Adjusted and XX% million.
byproduct in Scott year. sale month our were noted, businesses unusually the adverse and by As final of the remediation weather affected
guidance accelerate the although EBITDA we we first had was been quarter our In have we did as in these we XXXX the two anticipated range. provided booked this XXXX receipt into when Absent much XXXX. guidance EBITDA end continuing November, of would XXXX, factors, Riverbend the addition, in due of from at into Brickhaven ash to not as high of
million $XX base XX.X% margin contracts, to million other $XXX the gross the SCB adverse a two primarily the Brickhaven lower Turning the In environmental of for change by profit the the while increased offset reporting carries to million, than Gross and technologies weather, of doubled SCB in segment, and gross which partially in XXXX, and new we increased the attributable solutions primarily a out. than services rolled record revenue a business from the of acquisition discussion more to of to services with acquisition completion of of the to margins due our of maintenance record mix million, declined in XXXX our to roll-off XXXX, increase being technical reflecting offerings margin X% than lower declined remediation a which from $XX revenue remainder X.X% accelerated to generated each year of to services XX% profit of March a our nuclear due contract, XX.X% margin attributable our from X.X% $XXX an contracts. year of in segments, XX% offerings. segment, of a primarily business. full carry to to XXXX, full in Gross fossil services again nuclear remediation
I’ll statements on the our XXXX. the EBITDA Brickhaven significant for accelerated lower it and a Next, our how most XXXX bit financial why affected of completion more provide color is guidance driver
us. years it’s into we required be would retired a As under early by mine Riverbend costs, to the source at contract site, Brickhaven very done a because remediation and earnings Scott million two Brickhaven is return follow-on of plant developed which think other we contemplated approximately own This basis. our that tons conjunction significant be a several would but with on then aggregating different sites was to we would permitted to noted, these which from which a useful purchased, supply and completion customer is that look years our adjacent we XX the the investment one ago. ash store from we mines. separately the because projects in reimbursed our It contract that rather by Brickhaven capital the site power than XXXX. supplied XXXX from would including for pulled at of ash per-ton is us we and an owned ash, together two
the As completed. significant customer affected North significant early payment contract Brickhaven contract, supply would Scott not costs. Carolina these a the development law, project in due change results once from the the a that expect site ways. to guidance in we of and ash determined it XXXX costs The closing was receive to Under unrecovered completion the terms noted, of three and customer mines XXXX expected our to Riverbend for
of we intensive not from the and benefit recorded accounting and fourth expense and to EBITDA the the greater because this equipment. adjusted in to and have was would depreciation early $XX related depreciation project of XXXX. depreciation. million First, the expenses, $XX completion Had gross been project, of but of the Brickhaven quarters depreciation XXXX, profit, Of under revenues accelerated percentage had capital of approximately asset significantly into including amortization, was the nature net we and third benefit for to a completion has we million the an of of Brickhaven acceleration related XXXX less. This significantly
of recorded depreciation Net purchase Brickhaven which $XX liability option G&A with of million a and also negative million. associated We total amortization, $XX amortization expense. related project amortization was reduced to this the of Brickhaven,
was XXXX Riverbend lower. will cover Brickhaven in the We amount the to of this also revenues March XXXX, recorded be and revenues substantially completed associated expense. with Because depreciation in project under contract the
consistent less capital sold expect most goods we with intensive our that of with is cash the remediation the Going nature that forward, typical aligned more of be costs will of projects. cost closely
cost $XX associated operating by in balance the of The is and build-up or estimated cash through way This the operating Nearly results million, resulted build-up $XX the earnings CIE. year costs our sheet, cash negative which in in that as for Brickhaven. of all Brickhaven of Is million. shown flow affected reduced flow excess billings, unbilled on with second CIE
we capital significantly recover flow these rendering that As substantially us working positive. this reverse, amount later cash will year, balances
gone revenues of XXXX. way affected and that our in XXXX our Brickhaven that with we XXXX outlook have The beginning profit sites and results ash through third from XXXX would Brickhaven additional and associated had into expected final is and continuing fall additional the gross that
of not I’ll XX, Given fund expect but a needs. level we of offset EBITDA This capital up revenues this we we for to and million. the XXXX, our so our of drew liquidity. bids, do reserves primarily of million timing over to $XXX to September for litigation potential working our had debt close time. outstanding balance with and sheet consolidated XX of XXXX, gross from and our XXXX on At my the conversions was were $XX able discussion review because results loss December we expected revolver
ratio X.X quarter. Our net was unchanged times, the leverage from previous
later revolver, our was a and receive our liquidity we however, this ratio the Brickhaven-related million. Our term will lower we to over the EBITDA. flexibility; our expect under and to increase payment year, repay balance because we of After financial expected our loan which approximately our sheet of improve expect of amounts year $XX portion outstanding course strengthen leverage the
I’ll Next, our cover XXXX guidance.
million. to The lower We revenues providing to estimates. $XXX revenues our segment but slightly generally timing byproduct in Brickhaven revenues $XXX contract $XXX to are consensus partially will XXXX million range in sales $XXX we acceleration and million the of expect the of by business. lower XXXX is solutions with line our that the in level, offset environmental million the midpoint the At for than of compared into guidance is modestly of be in of business awards, guidance XXXX revenues due XXXX higher new
revenues the and in outages higher services only compared fossil technical which XX decline to as with scheduled be maintenance services, growth will in XXXX. XX that nuclear year expect to compared outages XXXX has modestly in offsetting XXXX, this in We services
$XX the million. to early primarily level completion of is attributable decline the to XXXX Brickhaven the Our $XX XXXX The guidance EBITDA is adjusted million from contract.
ash expected XXXX sites. receive with only this the to in EBITDA the XXXX it in and noted in other million XXXX and As tons remaining that also from pull XX into remarks, resulted not my from revenues did we earlier EBITDA of and associated of I loss XXXX, revenues
subsequent option approximately $XX lower; the expected revenue however, two-thirds we early due the market a depreciation outlook had our and had difference for of than profit the completion expense. occurred continued a of at we that million of IPO. our is I receive and lower result, and of instead The to the we expense, XXXX note compared time estimate including IPO. line from guidance segments the to not of be in approximately As projections gross adjusted in to will ash EBITDA that consensus remaining G&A Relative guidance $XX XXXX liability is difference estimates Brickhaven lower due is our at to their $XX which XXXX, lower the approximately due our million is EBITDA the of is revenues financial of consensus to be million and Riverbend, line amortization which in but credit business amortization is after in the expectations, time revenue performance respective the purchase reduction sites the to of between profiles. to would with than the our mix
our environmental As solutions segment. to noted, modestly margin XXXX offset mostly lower and higher we expect be to technical revenues in our revenues XXXX, segment compared services by in maintenance higher in
in supplemental our significant appear reduction on additional reflect amortization which presentation. after We option liability expense the expectations of figure, amortization XXXX the $XX detail included will higher expect the see the be Please the million. is of This non-recurring to the and in do items ballpark not adjusting credit. consensus in that depreciation or approximately for G&A purchase amortization the and G&A than and expense
million, XXXX of significantly of this be of and the the year expense level We timing expenditures. to on in a of $XX range lower loan expect refinancing repayment term depending debt to interest capital $XX million our as result the
this cash operating year. we will expect As noted, significantly positive flow that be
guidance cash With time typically into we this group them to Although finalization this our expenditures, payment, plan later of pending at we providing we Brickhaven-related three are not respect to the capital buckets. flow so do year.
replacement million to expect replace we invest needed. as to equipment First, approximately capex in existing or upgrade $XX
our initiatives. new other buckets, with expenditures, most The and of contracts our are technology for associated account two capital which
In be on of as We on it contract refer thus our spec of a is of highly business variable. what million. basis we growth the terms or and sign, capex to replacement only amount what equipment contract. capex growth $XX Last new but combined purchase function can we we capex, a year, the approximately new don’t totaled after signing spend
the the that expect technology will that that In the could the We it increase the of technology but new this on rollout. year be figure course current over but higher timing we than area, is we $XX decrease as $XX continue to our awards. invest of estimate XXXX dependent will million, contract will expectation be or moderately million
launching As grinding two two noted, slag construction year. we year are additional this this facilities later to with start another expected
these in our incremental expect volume benefit provide to sales that, We with full business revenue for XXXX. I’ll the call With and byproduct turn the back to Scott.
