joining evening our Cody, you Thanks, earnings call. and everyone. Thank second good for quarter
employees. want I’m I Cody, to Board Officer; Brad open Chairman; Patel, remarks joined Forth, to addition Officer. our my In by our Chief our and Nipul by Chief our thanking Commercial Financial Jeff today Krantz,
industry that successful. very hard dynamic be tremendous is Solar to execution a demands work, and dedication
deliver. employees at continue several been and them thrown met over that to past challenge months has Our the they have every
of we turn announced Blackstone provide call. a it. to proud a the Brad provide our business, to then to today. update I With overview Chairman on it then walkthrough full an I’m agenda earlier We second have that with a be that Forth detailed we will incredibly Nipul results. today’s our a part fantastic will and our an for and of quarter of have said, team And provide over transaction
work key three Turning now. to are that Slide our X. right business really themes in There
products The our for first is that to demand grow. continues
pressure in but year-over-year, XX% revenues we a over manufacturers business work several Like XX% second second our momentum third The We price speed Our reopening the increases have ever industry that which only significant won on going most order despite particularly demand plaguing months, have The over book was into has and past theme in lockdowns, our the our been of the totaling, the the of the that’s In that that and saw are it’s The continued logistics pandemic our XX costs in increase quarter July grew freight results. top-line alone, at with global history past more economy, of the and more the brings have tremendous the end inflation. year-over-year, cost growth, occurred have the $XXX in highest solar. projects months quarter. of following we EBITDA the challenges new input seen several than increases to demand. unprecedented we million. quarter in they us magnitude costs at which the that by commodity world the and strength the second margins. not cutting been wants driven reflected is put by increases the into
down gross was the second margin points. quarter XXX in Our basis
we which our and is that third to Our part accelerate the our our in business strengthen actions taken response have growth. is to theme of the inflation business,
increases commodity in First, exposure we have reduce to costs. changed processes our business future our input to
that since the our for gross changing requirements margins the we all and processes in the our our average. of XX% year, locked of orders booked with above input are even and steel including cases, in have some costs are remainder historical have We of our line nearly business
including board every directors, In Bilal strengthen and we Amarante to taken Smith, and management is [ph] three team. new independent Gerard have the Khan, as action we and two our Paulo three Tyson will important governance last nearly second legal operations; country, It’s size Legal of and The in our Officer, Hottinger, have have two added months, such as Brinker our sell new Senior new agreements manufacturing the new Ken past measure company. who Erica Operations, expertise we help oversee Groups. Commercial ESG functions. as grow who to Their executives, the revenues, we keep us and our mind that also compliance the lead Stacherski procurement continue as experience Chief will in. Marketing supply and and and Chief Officer will and more as President years, of than Vice Array tripled over our Excellence by to will lead we customers who combined
that help company We global are already an the larger us are increasingly manage adding much talent to additional great becoming. we team to
external a work space. specifics taken action third have but believe this we us our finally us Brad to transaction, accelerate as tailwinds of The policy the positions is the internal partner with plans. both further within will to leader business. growth for and to at more speak Blackstone, capital in give we is Array it And our our about as significant the
most lot in in become has competitive a with common without the generation U.S. past the We the incentives. about of solar source or talked here have
government alternative has source anymore. of capacity. become new a isn’t The primary really generation energy It recognizes this. Solar
we close million had quarter. want on $XXX yet. volume, fully EBITDA strong they If I’ll that on impact and the the occurred the XXXX mix more had with as felt The in June anticipated. in a expansion December the Harbor grow of was now more major flip than the execution additional occurred of been coupled two X, for results is coupled by to $XX.X accelerants Slide million, for XXXX all to to really for seeing higher we faster, are that quarter. being years, are the some quarter industry, of Adjusted detail projects hasn’t our added. provide with Safe to delivery even it favorable Revenues, support second ITC However were of why out which we the we extension policy their
Moving we call levels to are seeing last our quarter’s on book, that quoting record order I activity. of mentioned
project the year-over-year quarter During $XXX many XX% second quotes result convert to of quarter, million that we saw million a the $XXX which in number of of with the June, the orders alone. over record end those represents being includes second wins increase at
Most wins have Ocean the in environment approximately no this rolled In margin the take points. and is has XX%. last that up As slide, I mentioned actual quarter an come with, gross to surprise cost to will these into tripled. freight continued inflationary July, gross cases were the unprecedented up which new $XXX awarded purchase importantly, has is quarter. XXX new material is margins to million. down that quarter. and earlier, the slide, achieved key are and XX third have year, it and second is away we aluminum we The from in impacted hot go of our that line basis little cost projects, above momentum environment. year-over-year, how doubled, Compared is cost coil Against the XX% some next our backdrop, a in we we historically. dive deeper on I’ll totaling, If
us during would bill window. would awarded, project. the the spend of was up bill full during that we agree costs we same days. the we I’ll too day That by cases, The process only and our increase, prices of made orders down. our in they the the us time nearly if after move on from and allow Historically our went our and to changed slide. short of costs didn’t period, price materials, negotiate award start next expected generating of most order we XX period that Once working customers materials. the materials and At April bill That margin take the processes would gross that chance decrease. mismatched. down was dramatically the our to and they a result investment XX a bill was historically final finalizing some time the to a result would few capital every become suppliers XX-day the to too which had would Historically, detailed have and materials future input our design which But of actually later one very gap suppliers. price by of time much a the exposure in could of order to would business best or investment much suppliers of to from if from talking became up moved in for had could a capital project increases complete, that really reducing Once costs. ordering changes our engineering, about our moved limit place Turning in we particular with when when design giving was to we minimize component. up, and input And early that they to the inputs of the window, would price our a us process time. and they work benefited moved of prices the we
offer the using customers a and around move materials to our price, the if lock seven final commodity options, order in the from During changing we action gap that not those project both Buying process Today, process. that on longer to offer customer both the price outside, a results The the close enables early Either those valid collars, deposit wants impacted we margin LOI by price price we of updated will components is to helps now pricing. quarter, process. design. procure we this in by new us material XX of our and is a of LOI for the the the an prices movement collars price a signs Under two to good that us or days fixed which good took options. when costs, the we we components have become costs outset and offer for largely business only. the second make sign our that require fixed great. customer no ordering a been and because days are If commodity with re-quote is
them historical the getting or I at to at targets. on with achieved. margins our we margins are locking what in, and projects levels am winning line back above historically confident and are in that we performance are have path We on
chart of are booked they orders is to as that This are you that under projects And a new from it’s of turn lot effect we our that from going our the have backlog. this business the pre-inflation important takeaway margins long recover out a to pricing we the gradually still fulfill and if orders revenues agreed in keep create of comes was projects However, with that shows Those mind process. several hangover those previous to expect quarters. to as come recognized The next under have to that pre-inflation a Slide to more lead revenue X, times. pre-inflation our of is percentage you off the burn over projects old key our process.
of Nipul Now, second review I for will results. turn quarter it over to our
