ATCX - Earnings call transcript Q3 2021 | Atlas Technical Consultants Inc

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Operator

Hello and welcome to the Atlas Technical Consultants Third Quarter 2021 Conference Call. Currently, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] I would now like to turn the call over to your host, Walter Powell, Chief Accounting Officer of Atlas. Thank you. begin. may you Sir,

Walter Powell

we joining found that quarter earnings you market our call, oneatlas.com. note after for in at a call. of website the support release earnings Investors I the this that Please today. hope have can close also our you posted XXXX presentation be third which conference issued have in Thank seen of our section

recent our statements. filings the Exchange of beliefs, you statements. remind plans, Before may we the risks assume company's which by Any today's and statements anticipated and may reasons, forecasts statements principal include like publicly actual with identify such of those to Commission, describing forward-looking We results. forward-looking note variety prospects for uncertainties projections, no begin, expectations, our that forward-looking beyond business, are many obligation statements. affect goals, our call update strategies, that our to results future could assumptions and that are Securities a from see which control. Please forward-looking I'd and any differ Please the

Chief In filings including now EBITDA, see these EBITDA the discussing certain adjusted or addition, Officer will turn their GAAP EPS. margins, Boyer. Executive adjusted income our non-GAAP for Joe and call most adjusted a net to and reconciliation our I adjusted measures measures financial release we Please will over comparable measure. non-GAAP be today, providing of to directly

Joe Boyer

Thank us Walter today. you, I appreciate and joining you

currently a medical to went he'll next recovery. begin, road Quinn along to he Officer be on week, all call well his David will from well my I not team Chief recent is participating I back on mentioned Atlas this wish Financial That with and work Before David be as I procedure. our that recovering

open before So financial operational overview with and And outlook of and call, questions. for an our discussion provide the I'll results us call will up update. of Walter on we an business give the then continue today's

incredible today, Let's about highlight great It solid results of Slide you quarter as gives just not to funding, start with major This but enabled operating we XXXX expanding speak growth on backed XXXX. market the another our-tech me program and is see also Atlas, and stimulus pipeline. projects it X. by capabilities, opportunities the look demand, for and pleasure we for forward to financial our

I across I'm of all our is quarter, quarter. economy-wide successful Atlas the in million. our This before was fueled bright our We execution of the I'd these lagged of price Now that our labor infrastructure project new the in as contract This XXX our $XX revenue time by short-term in in million in a quarter, now and to third cost our markets approximately roughly really $XXX pending at and our end half of very an in backlog quarter. And transportation led in by comparison new year programs business, traffic growth burn technical recovery industry, We contracts. strength converting during the million, the and highest driving backlog increases impacted backlog of our increase in a solid were to slightly. of low by revenue larger third of this some shifts cross-selling awards. have nearly in in And demonstrates delivered to margins our entire on aspects highlight in in feat were the acceleration of Common us in yet as second the contract in to execution the incredible expertise new due due trust focused to that team through number like resilience challenges. worked future, we that. due performance the major delivered results new touch and record our the the XXX business awarded awards XX% additional placed to an EBITDA to signed and thankful over winning have adjusted an for to despite pressures not environmental typically results the related quarter the the quarter volume progress million it of a services. were form Market of clients where yet prior the rose projects not COVID. We activity of business quarter, in level had but an when a our decreases again year-over-year at professional strong to

public to sustainability built longevity purpose-built is are and investments company ensure and and both quality, environments. nation’s Our private and in our natural

markets we expect strong time Now career. benefit X, other unlike tailwinds seen Slide detailing in secular I've service from my that and areas to from any

assets the As the demand renewal client This the monitoring and and that importance replacement safety, keeping renewed for overdue us bridge ensure recover in move ramp and on as which is safe, for XXXX. the to and nation of plays tragedies, the a growing sustaining in focus remind continues steady regulatory collapsed with assurance we're demand infrastructure includes the our to from quality driving building environment. recent compliance. pandemic, Most are higher of safety code reliability connectivity along seeing improving and improvement, into asset of we

in the the outsourcing enhancing impacts has quality healthy flooded responded heightened tragedies air public west, been climate and infection communities awareness Clients upgrades climate overdue the and security looking our monitoring of and planet. infrastructure social, are to quality studies DoTs, Growth and of life only by our and the to has of sustainability sector hurricane health viral increasing private threats security. rise with for improvements pandemic our the ESG workplaces. With infrastructure This environmental, and governance, on for has in of also related for public to quality for to building project the increased and safety for possible services. cities assessments occurring, of We pathways fires assurance and and the for address and wellbeing Atlas municipalities growth nation's critical and both see of for urgency areas. continue community and of exposure state, and

focus of all these positioned aligned and environment, Atlas see survive our definition commonality clients. communities, to And directly slide, built infrastructure, the company about as that's the look economies of address broadest Atlas the extraordinary can next those resilience Slide Taking platform critical a our on our challenges. closer a strengthening the you we've to X, our the challenges. focal is please and is and points So uniquely ESG areas with is on

X of standards. addressing our later the I diverse to forefront solutions create rapidly Starting smart are or at buildings technical and needs, engaged to capitalize on innovative today's macro a Our the experts Slide and with for our that bit across it's of of protecting or safety. clients' connecting for holds required mobility, technical Same will risk, upgraded transportation trends. whether focus other modes healthy ecosystems, technology, discuss on quality, all on services service areas evolving true our cities, four

to successfully our win work in and all service acquisition contributing abilities record consistently and backlog. strategy Our these is advance integration cross-selling growth areas and our to to

to strategy continue the to on and that targeting companies environmental opportunities our on tailwinds. We cross-selling the capitalize rich M&A to disciplined are infrastructure market Atlas well-positioned execute platform and bring

the vested itself a the as our and due lends are are both Our experts and well technical in at pipeline of a growth typically the excited mold. growth selling time company. result, that and And in have And the that of to and Atlas targets the seen that future of and de-leveraging eager very this healthy and success These our growth short fit this Several our a sheet. firms of stages principals of part we're be rapid to Atlas positioned over have Atlas. is in composed opportunities interest to pipeline cross are to of are balance take revenue transaction of period initiatives, success structures, this synergies are targets with diligence. of proprietary to de-leveraging expedite strategic the back advanced accelerate future

Slide tailwinds, milestone Bill market prevalent for X these moment enactment U.S. Infrastructure and the a represent for trillion will Atlas. $X.X Beyond the nation shown of on the

water extremely positive the the federal the The in critical catalyst upcoming in in is years. services said and I the spending In and provides, to trend markets so in this my Atlas upward by career. and our projects. bill, environmental with and renewed more and that As professional proprietary business of bill for by directly is maybe seen the the in an technical with infrastructure X% and Technical typically about of X% utilities. followed outsourcing spending biggest, focused this provided I've transportation investment with infrastructure this earlier, best Atlas environment, on tandem being services represent even focus services bill

to of private bill look We services. services of our for with value drive and opportunities incremental diversified and comes to XXXX large in the new clients our public spending portfolio represents the in this beyond. So focus and online areas late forward programs working added as sector

as important and the at what health prioritizes continues of levels, exactly performance by economic here federal increase. and investment this stressed Atlas need to momentum lifecycle and winning larger That's absolute our critical extension of funding improvement projects the as tailwinds for we climate Just assets impacts. do

with significant Department win end our the Moving $XX at on this, first the Transportation. Texas profile is which quarter a planned of of we I-XX and recent project to project to sized excited Slide a the the some of projects for Consistent year of XXXX. have X, kickoff major million end for I'm part of

The of to congestion have utilities such safety And this enhancements is assurance a in and improving design team. San as to roads a the We expected JV services in Under for other will purpose I-XX will lanes, of lanes, billion the demands gateway from congested of and TxDOT $X.X improvements connector Texas. partner significant infrastructure Expansion design-build interchanges and the contract, most populous and city section growth and of is design, the will design traffic most as additional of contract a reduce build of improvement the bridges, highway area, to NEX Northeast provide compliance ramps, I-XX specifications. include proposed provisions the this project construction is the the with and construction mobility, Alamo third into elevated major one Antonio phase The future provide general codes quality the in of review drainage, accommodate Atlas Texas. assets signs. assure

major the We this are part in of as phase thrilled part be project to construction and of anticipate the to well. be

X, innovative and us solutions our applications both couple strengthen technical relationship examples of deliver results clients. role that technology demonstrates major bring area. for service this our deliver solutions project And in I earlier, our growth to trust clients. the how our and as provide the standing I'll a mentioned infrastructure Slide pivotal long our and help expertise to TxDOT innovative of On will a the expertise play Our offerings of with we will in

of nearby critical Our Washington XX,XXX of a protection of client designed San for compliant stadium water proprietary construction groundwater with allowed assets reactivity this a cubic University coastline while newly cleanup modeling Access another Diego’s reducing costly enhancing stadium stretch addressing And yards of requirements. with of materials understanding our certain of and disposal of testing constrained. debris was faced to work Atlas into code in-depth with enabled renovation, during the challenge I'm materials project while city program of the our quality. and environmental renovated wetlands very to proud team's and teams’ geotechnical heavily concrete reuse reuse sustainably A example, infrastructure. leachability waste the us the contaminated of was and

technologies, So asset. as vibration water a major an to and extensive we vibrating system including this wire threat develop bluff coastal equipment monitoring to critical geotechnical warning to erosion piezometers use early

proven experts from rail, the extremely to proud from use speed the in of diverse can searching and deep impacts capabilities. for solutions modeling for high technologies integration, varying technical technical GIS Our wildfire generally our unique on geophysics aquifers monitoring west, applications

let Now wins. backlog record address our third me quarter key and

are and in contract As getting We strength back regarding $XXX of new procurement course state quarter earlier, business as to project agency I number well normal a saw particular with letting increased more and awards as opportunities. third wins million geographies. said services markets our backlog across and of major

well Now, and backlog as and the into to demand plays Slide for in our offering growth XX, infrastructure of turn you our our capabilities on the which diversity strength environmental can visibility future increased see drives revenues. of service

back the with turn to I'll call So Walter. that, over

Walter Powell

please And Joe. XX. to turn Thanks, Slide

was and million quarter for gross prior of both to quarter, up strong details driven $XXX.X Now were execution the organic compared the by of the contributions all from that acquisitions. across revenue and service XX.X% recent year offerings

revenue businesses period many our work increasing our and year design inflation rates, the of XX.X% EBITDA margins. and our and growth was supported a the XX% accelerate to prior impact compared Net the programs in some XXXX as XX.X% realized enter costs our see higher services highly at mix marquee year sell to gains self-perform we was of professionals $XXX.X recognitions, but gross managing than than revenue tend utilization saw our our been with commercial the million to margins. along labor and and quarter services quarter. XX% approximately X.X% more quarter, improve net projects Our represented Like with the solutions of portfolio. attract great environmental prior this successfully growth, temporary the workforce consistent biggest cross year. higher we quarter. qualified and engineering Revenue $XX.X larger of this continue Adjusted markets strategy of and EBITDA million during revenues, to grew even we’re through improve as represented the third We we've on to project awards and to workforce

third adjusted the the quarter, past with in For to Class $X.X some related to million of $X.XX the share year conversion of EPS we B of and versus prior Class A differential $X.XX produced the quarter net in income adjusted EPS year. over the

Moving operations. delivered to we from cash year-to-date, positive Slide XX flow have

of than quarter, our of third typical a a X.X support requirements from was growth. use capital to and larger cash working The driver revenue the primary During build this operations flow million. was

QX XXXX. strong the liquidity flow driving We cash and to during expect a levels in highest very quarter cash

with the we end. on year net As times path at six by approximately leverage to year be close

continued anticipate in year timing is of on resetting. to margins primarily $XXX now outlook be This full adjusted the on We of to visibility low unchanged, for the rates quarter $XX labor that our This the contributions and current to the third the will of to XX, are $XXX labor end raising project performance, backlog from million. our the EBITDA outlook the in Moving ahead of the of and work revenue our year come Slide and we of acquisitions. range. million range range to reflects our end XXXX. revenue operational strength recent the to million low in We costs due $XX closer higher impacted incurring million full

price on we Given XX% actively reset. this our new as rates contracts contracts business reimbursable, and mitigate approximately we is cost existing

And extremely we by EBITDA the were back the looking Federal our forward winds in Joe As mentioned, potential Infrastructure Bill tail contract our for low-to-mid investments closing can turn grow teen on incremental awards, pending moving existing passage We to the growth Based we Thank are the about business for range. are recent of our of market M&A, in and for XXXX percent adjusted clients forward. Joe all to Atlas and backlog, benefits excited strong now the excited assist in the expect future. you. accretive I'll the to the remarks. call

Joe Boyer

again, projects hard Atlas infrastructure X,XXX represent working on I U.S. critical across you am thank is and who employees are plus Walter. environmental passionately Great, to the proud

and to and directed levels Our deliver revenues of our EBITDA, highlights potential this ability growth the pushing in immense team company. backlog

Our success reflects integrating selling providing technology in network. in our to effectiveness work services client acquisitions, our winning cross solutions and

the our open you our environment. years. These drivers. final Our communities. can of market infrastructure advance need and in forward strong to organization, and model positive Thank XXXX operator again and of years to Infrastructure We to safety environmental in forward potential help growth anticipate the today tailwinds supported to in commitments the resiliency quality, alignment to now lines the in stewardship to Q&A margin quarter accelerate gain for firmly to broad-based for I the I nation power renewal many particularly momentum long-term for these for balance and deliver solid key its us investments and the will Bill a help continuing sheet. please. look and come. the infrastructure, our ability include and business market growth deleveraging improve We the joining believe our coming by to the aging steam, you performance our up this of business efforts while resilient look continue of transformational tailwinds all

Operator

Instructions] you. proceed with Lake Rob Street Brown of Please Capital Thank question. first comes line [Operator Our Markets. with the question from your

Rob Brown

Hey Joe. Walter. Hey

Joe Boyer

are you? Hey, Rob, how

Rob Brown

but shop projects the haven't yet, that you've the it maybe over had quarters? growth. Great, in the how nice backlog the environment contract the nice see and some in I I of the put few playing now – you is bit quarter about strong backlog been growth about thinking and a could growth you just see next new comment through pretty little coming environment, environment I out you am right won a how think

Joe Boyer

Certainly, really good question Rob.

been business as we've my a always challenge. is market, So said, to right? tight labor this industry this experience So in I've our in built address

competent we with I've I employer like successful benefits. that we projects of people and think attracting of and backlog our growing, in on importer to profile also a it focus projects heartless marquee work being found at technical culture competitive with and and been highly compensation talent of major colleagues. projects have being choice an and some net a on high

we're excited that. So about

our see labor to the excellent challenges we job an think there. despite the recruiters have and I absolutely continue need done investing

sharp our resources on address our revenue focus projections. So we'll continue labor to

Rob Brown

increases? works you up on? you Okay, or that that work great. the later, And of to of in does two sort up, as clarify prices how then or price labor pass it contractually you of or how do show are the getting is a quarter go And it contracting makes sort the able we terms

Joe Boyer

get on work On on costs costs. those projected or We annual more do. of have been forward. our we on on basically our those we've chance commercial to a term-basis do our and pricing those public renewal. We pass work, already base an a we Yes, addressed already

So is basically lag. it to have a one we two a and quarter in that short-term lag typically

So we'll see rates our improving in HX XXXX. to labor start that and QX impacts of those into on

Rob Brown

Okay.

the Okay, Bill. great. last on questions Infrastructure then And

starting you your playing federal or does see talked that later of of hit through I normally does the you do sort to think and that how how out growth flow How business? to about that hitting sort your your spending, year. in next

Joe Boyer

Sure.

federal first long of as stewardship that know, in investment. talked we've you the infrastructure squarely to see past. squarely where know strength just in of very is did The I say, focus overdue resilience environmental I climate this company is all, focused. So, the glad I'm about that renewal, bill, this and are the we of

see So to this it'll on least shovel-ready that's take at experience, from bill and few quarters impacts my a from even projects.

a to already said, and certainly see I in of of I through. few come And better So our environment then sustainability this to the bit now a speaks a it's going great the take think that company. little bill, we're without quarters but so even to

Just know this a that guidance impacts include the not it reminder of out as does for this I XXXX, yet. of early we bill but put

Rob Brown

over. Okay, it great. turn you. I'll Thank

Joe Boyer

Thanks, Rob.

Operator

you. Thank

of question Thielman with comes D.A. with question. the from Brent next Our line Davidson. your Please proceed

Brent Thielman

Hey, Hey thanks. Joe. Hey Walter.

Joe Boyer

Hey Brian. there. Hey

Brent Thielman

here quarter, that a pretty of you're or culmination first step the rest for outlet this business fourth backlog burning Yeah, side, the going Is reasonable implies to mean, up your the in a start is of just year revenue the on for through? I big the that I typical up. guess that work step on of

Joe Boyer

Yes.

across of beyond what making have out really stickiness is backlog feel our our are and I relationships of still client book think I that our the in I a good year, our the seeing our of raising and mean, of revenue Because steady decisions are, to and all will into remainder our in XXXX that, that, invest low the focus I markets we is that, think range. the we that, remind investor. just business in about comfortable that that geographies. visibility and and a current and we comfortable is say me Let of given were are end of we and growth steady revenue there. growth you we

and drives activity. testing are we're I think institutions, Real pick support, inspection our and deals, and which increasing are growing that funding steadily up commercial commercial to activity estate transactions with services seeing. environmental financial

York, The clients spending releasing I'd with a budgets. little And and exception Our budgets new petroleum now schools say clients the new most then are from isn't New are now back which steady. programs And levels of delayed completely public sector normal with almost and to bit think coming release programs and forward I for us. beginning been agencies transportation on are clients city have such. inconsistent, capital and to back our projects important, but

guidance feel put And we in we've for out so what QX. our really about good

Brent Thielman

to sort felt to Okay, first time of next then you half just of businesses, I with Joe, at contracts you of through think to caught on sounds see understood. wanted And of is the that clarify, through the like where sort year, in margin be relative it performance? to today respect about pricing way get the up you'll you fair inflation, terms a

Joe Boyer

Yeah.

that's think you well. that And a costs [indiscernible] incurred think If fair, I characterize those fair as pass inflation of see be to to bit but I little that I've But a of that wage we what that's to to-date. continue it'll forward, going we'll Brent. are reminded lag, course continue we've Brent.

Brent Thielman

to Okay. get these backlog. fell and there? just are I'm material kind does this any that turn longer, wondering any And then contracts or last signed whether of work the the of $XXX that process presumably quarter if Joe, at is there new million that quarter in taking in thoughts

Joe Boyer

Sure.

increase steady Rob, me of was what had quarter, as told see. you remember normally which you million unsigned, $XXX a but awarded, at time, an that let you over we as last increased, give I So we

that about QX. of So million signed $XX in we

got million that signed we added contracts. another of so awarded, $XX not we And or to still what, another So book. million $XX to

signed you getting back. continue back work reflection being procurement But their a So I'd expect, and contracts, would groups and of be in on know our it resources QX and direct you clients QX. that that tell to I that I'd is would hope into probably of half

is what So it normal, than anticipate. little but a slower I that's

Brent Thielman

you Thank great. That's Okay. guys.

Joe Boyer

Sure.

Operator

you. Thank

comes Johnson Our your Please of proceed line Daniel with Rice. the next from question. question Burke with

Daniel Burke

Yeah, good afternoon guys.

Joe Boyer

Hey are how Daniel, you?

Daniel Burke

one guess now M&A that of opportunities had in how Bill wanted I the Infrastructure reality, front still influence deals? does but spreads maybe for potential all, just on good in noted Just could some looking to when you, and with you at you the pipeline you opportunities I ask you're ask

Joe Boyer

So our we're start think that, reinforces Infrastructure strategy. Bill in let me by I confident saying the just that

I squarely environmental think we where the focused are bill and is focused on tailwinds. infrastructure

to rail So states highways, and focused as being are systems, we markets means, roads, where and the transit the continue bridges, on look really geographies space, at really particularly we focused. that's we're transportation where we creative funding water and are those utilities, alternate love

As proprietary mentioned, we are opportunities. you focused on

deals. from we're cross-sell businesses those and the those same services. technology currently to that leverage typically market and shy we away focused for in And are are broker-led drivers looking on that So leaders growth we

certainly helps us, half you. there's being and haven't maybe Hope given multiples uptick increase seen where that focused. of and impact a some turn an slight that and our but have higher out from we there, we traditionally much on a paid where we've focus, been seen a strategy of So we

Daniel Burke

want seem potential earlier Yeah, want elements to pivot sequential cases, quarter, QX can office. in of seasonal the fourth on that to back up quarter, singular figure a months a backlog. sometimes just in mean, award I might you sort the then and But it fact bit, rise do the could get And is suggest you'd optically your of focused an expect I environment I bring in you see versus think to have the any about many maybe a improvement bookings Thanks. positive the does ago. Joe. back And to comment too, if of through question, don't three in little would affect for to bookings when on pending year benefit mean, in for to that. I make the I appreciate we and guess refer that order sure, contract that QX inbounds being it trending end. customers backlog a

Joe Boyer

to QX will quarter. Certainly, think actually is Daniel, our that. I – say, so would assume biggest is you burning our you're I I I'm QX that sorry. fair biggest tell

signed us, growth a be – of these sign normal positive in quarter to our our real backlog projects be talking would just a grow backlog about yet backlog, impact is should for I I'm in fact obviously, awarded with So levels. positive this the think current signings to

Walter Powell

Yeah. Many of the there sorry state DoTs – Daniel? Daniel

Daniel Burke

No, Walter, please go ahead. no,

Walter Powell

Yeah.

as kind many are, state DoTs the of see their tap so fiscal fourth air into letting new So our increased in their budgets. some usually year, just got we hear they quarter they of into new

Daniel Burke

That's And growth guys you helpful. one, revenue on give estimate can just in – then organic last simple Okay. an QX? was the year-over-year where a me

Walter Powell

Yeah. Daniel.

So year-to-date we're above X% organic growth.

terms of This a quarter organic and was in revenue growth quarter-to-quarter growth. down little bit. guide We don't

in year track with digits full be expectations for XXXX. to It's we mid-single our with in-line guidance. on the For our the the year, and expect

Daniel Burke

Got it.

appreciate Okay. afternoon. time Thank you guys, the this I

Joe Boyer

You bet. Daniel. Thank you, it. Appreciate

Operator

you. Thank

Please line Thompson question. of question Kathryn with next Group. from comes proceed the Our with Research your Thompson

Kathryn Thompson

of the this year, year how to today. testament as company And announced you're to this win Hi, you more taking you've that. assurance On interested any plans and change recently even customers our builds my grows, discussed that what you're more terms with are you. like passage you the Thank if Federal of saying so Infrastructure that back end projects a bill. in it's potential your what, the the they really of projects Texas larger seeing larger platform able just – project is do for with passage you complex large projects. see project in thank the it's plan Bill questions quality from how and and and stepping on How with based

Joe Boyer

say projects, scope new see importance larger of build Sure. these relatively quality I larger think some continue work the we that, which larger Hi, in is of me design these will projects Kathryn, let and the plays assurance that to opportunities.

this not screen to and been it's So probably is that large planning more, or but technical have again, out larger say the other be. on huge there's state I'm just think that and but dramatic of bid size. least to of been pick-ups say projects I currently larger I projects design Bill maybe answer in But Bill it's projects through number And have the your impact through. project don't putting cities would a duties Georgia sure more is will that my in I mainly planned we I'd don't a of think I'm the know think smaller on large answer Infrastructure to I outside to already some projects radar go on pickup to in for that this and municipalities, Georgia, DOTs of previously. push that team question, at state projects, our build want the are will there's which Infrastructure going itself lend think aware XXX would

Kathryn Thompson

XX but are started for aside Okay. work of the transportation, on A into early and focus what the in now the water been wastewater. your of activity particularly around seeing lot pipeline. as build first residential see like set what How back now? And months you does you look What had say out experience XX and year, has some wastewater half and your the surface dollars progressing. project next, should you're on there seeing to definitely to from signs progressed the larger the based over half, are this

Joe Boyer

that, projects the of projects. least seeing we that can tell those last in transit that in say regards I water months, have say, engineering, crystal a can water water including only say in outside out improvement and focused that So rail But of to have built seen around at – obviously a projects Kathryn projector we that XX Pennsylvania, the and construction I us. I our year that wastewater area around inspection which you, being water for are there's let so area, that has more projects services, I coming business, services on water, pickup area, Philadelphia there a wastewater and transportation have oversight out. have we think all ball, really currently area. of months the can't the more are of seen forms I say the that's that would and our we majority in in our next me XX about side over I design is online that would dramatic

Kathryn Thompson

has terms mandate the Okay, this from our update Also can jobs thank what have has the done? created in obviously focal variety added getting industry front been vaccination contacts that in give throughout then additional that. labor in getting projects the How we're of helpful and wide you just labor front on year. managing are on just a And of you complications that? you hearing point And a done.

Joe Boyer

tell of in getting yet will the currently And an some have then obviously us, for in that middle I that staff. projects funded a a will countered tell vaccine we Well, as regard to that it to mandate to a impact us in had I build done state you, contracts. you hasn't even contracts federally are absolutely Sure. turnover we to federal on same are or mandate.

there still projects even current of. turnover out are in differing a through priority the done work we our top for that staff trying are it requirements to been and but I'm So that or vaccines our has to aware getting impact regards not a us, in to

Kathryn Thompson

Okay. saying long-term people but you'll thing focus Thank one you. Infrastructure, of leading see hold you bill, seen –once on potential again, in lot of into these passage to doesn't bills, that before. a highway like you've And have level we a the have sometimes or to that but this what happens, just bidding seeing in bidding not activity, see seen be you appear that case mid-year, around, point you time were case of were

continued into because projects taking we may that of to not consideration? any Just bids factors the or in has this in there Bill part, Infrastructure turning these be is momentum and other momentum

Joe Boyer

in say work So tremendous the that, pickup XXXX business grew that me our state volumes. both in so work, mainly transportation execution really saw we QX the traffic work the and in right? year, accelerating QX low XX% of agencies due last Let were as of in transportation to

XXXX volume a downturn were some around in accelerated Texas basically bit in particularly we so DoT as And little markets of of really had caught a work. the the,

the normal seeing answer other track back infrastructure something. least that lettings at historic from I I to example bill I in currently. the we're of just that specific not new sort than the transportation, seeing haven't of currently how any now on don't federal else I on can't know I've cite impact to we're levels And missed So unless budgets what communicated a seen, to there.

Kathryn Thompson

today. of And thank Nope. luck. helpful. That's my answering questions you Best for

Joe Boyer

it. Appreciate Kathryn. you, Thank

Operator

Thank you. comments. management closing to Ladies and back gentlemen, would I like at questions. this time, there are no further turn floor to for the

Joe Boyer

to thank progress. on updating your very much. I look I for at joining and everyone mean, support appreciate We our you Thank forward today. Atlas really you us

Walter Powell

you. Thank

Operator

concludes Ladies and today's this gentlemen, you. teleconference. Thank

disconnect your your time. You you participation. lines may this Thank for at

Atlas Technical Consultants (ATCX) 16 Nov 212021 Q3 Earnings call transcript