Good afternoon.
QX had our It to was we recall, fourth those But expectations. first you'll quarter, in down for line were with happy the be to sales accomplishment because slow the compared down a duplicated if we're would and needed visual So I backlog Unsurprisingly, good performance. we that of we that good essentially production. have with announcements, knew if benchmark was when a QX overall, I quarter said year-over-year.
Probably shutdown allowed down. us production around maintenance. weather. portion intentional the and slowed ahead pretty the that But we holidays, longer had the the was to some on we the then adverse So heavy-duty get
So as the end up sharply result right we the began after we after in in to thought bookings bookings a weather the pick ended first a that of we to too. going lower But shutdown, what year. in of the actually bit XXXX, little revenue than moderation the of up were do
into on have that did price increase effect Now January XX. a went we
January run not in very then forward of ahead unusual stayed what price growth robust begins the from bookings. the range to genuine days, and of told it But runs increase quarter pick the the rate the Normally, kind it increase. price XX right is. actual the time a up that to pull any XX bookings that of increase throughout or stabilize see for in that's So me the bookings and was to cadence fact
think QX in I in of XX%, 'XX, up until versus were of was QX So 'XX bookings bear start slowing anything QX down was QX. largely virus mind, the really because our by around of XX% coronavirus didn't unaffected - number the 'XX. That
our strong hasn't trajectory mean booking it I that until performance And performance indicator all. 'XX. continues. very down this up that slowed same bookings now. for right so at on has is still continued a And of It
fair May amount. strengthening X at $XXX.X looking was we're a backlog million. And on they're So
that recognize good, too. turned to got pretty You up got production we've
So a we're backlog between production really maintaining here balance nice levels. and levels
be production the where should be planned ideal million. had it, I quarters, few we capacity real $XXX we - to close when a our got back that should backlog Going said
along online seeing backlog XX being with expected. a A we're large So for the lot right the same year side, than data as retailers. through is on amount we're of now are fair what year just construction now. taking schools exactly to perfect always take this at we centers, But the business time right in construction books the warehouses air-conditioned almost built. this Replacement running stronger new is shape,
Some and picked of really strong. quite that stuff up is
is growth, of what might you business. the agricultural it know, primarily the growth It's some business, it is. So cannabis
states of and back more are approved for equipment to very industry strong years industry. some measure built states, that legalization being and And several in fall. now, in responding cannabis maintain more practice these where of we position the of that, that HVAC in one Additional we best the a facilities provided companies that ago
around months. which architecture below to want billing billings. have This the lower benchmark architectural several had for that months - had I of not somewhere in that translates in So they a front seeing normally Well, slowdown I to it it it's index me, XX were but XX, concluded said into quite us. with those of caused activity. was in business reasons. representatives week don't don't we're a mid-XXXX go a a down conference put was what numerous certain, It last because to and not were abnormal sales validated activity. very we've for on normal Various pause. early witnessed historic like our have just projects What billings and we further, leading this
they man coronavirus. Some, because of the couldn't projects
them to states wouldn't allow their work. Some,
to projects, utilized. designed. that and to architectural was, generate uncertain The were Well, and necessarily projects ready be button have had pause. were doesn't on an they They the the outcome shelf, the hit hit Some, billing. plans opportunity the of just were those go on those what they numerous
it correlation the index So this normal times. architecture have billing in exact doesn't that does
So lot shelf, storage come of off we've orders resulted and of market, seen the projects have put a in the these us. into for
just a bill bit didn't to for see do point a time that in believe of billing at some because going dip we're I while. Now because architecture of they the index, a work
up, So download it for showing it's has indicator. traditional to but not up its show in the
has month or turned the X. billing architecture positive Now index last back
benchmark above the been at it's sure, XX. For
I closed, XX%, that, they or last I one think this think was. something was XX.X% like it when
it's to So strengthen. beginning
happen if very looking their that's change not the robust be going going this are to is partners at point to QX, seems anticipated Our down we've today. orders steady. pipeline traditionally but that our at that any this QX certain we're QX pretty We're would to could tell seen in That orders and point. as in coming seasonality. moment, with because that peak this at going at causing time sales what robust to to us sometime us had into the slow channel We is be maybe pipeline
not them care. end our mothballed facilities. I some were that supported were So business bit or wasn't looking were operation, to lot had or they care, with and build Medical and were that. are with Coast channel planning when and favorable outlined capacity occurrence it our they region We're Convenience health on for at our nonexistent. two early business picking very stores and customers those yet Grocery the care various Again, expanded localized the a influx a These identified although here rural last nice soft, day that to in seeing health in very continue had due up. stores of of been the commercial I just focused business had a health care. and user representatives segments. they in equipment, retail a frankly back look the they communities their West the very we've continue do had buildings health Go been same at impression. Surprisingly, owners sales communities, and And and with here to was have were have update some of their here remodel. coronavirus a thing. facilities lot that in Office to they are engineers left partner and expecting. deficient the and definitely here,
education already spoke turn expect the is one into us. strong. So for to very I I to, market something that In K-XX good very,
Manufacturing bond are issues mitigation were One practices for favorable they're equipment various to updating slightly and very cured, curtailed we're are be as to get year easily. equipment seeing, in that it. quality. some recently And any passing of is not had of systems that, the that AAON in one material accordance the really the HVAC change ago, or might with manufacturers, to been the of manufacture. a to into as These with We now some be for for that things not past, we but air key much. virus supply these in bond continue these has recently still best there's things regions things challenging issues
lot here of want On seeing virus mitigation a people oftentimes the hotels the units, and that HVAC much unit. replacement systems. some forward these lodging their way there. is new do built, seeing so seeing to we're few Not a on best put business, the their But and into new front, Again, mostly, pull updating not business. they procedures but we're to update
materials now. conditioning, both and air XX. component we've with warehouse We definitely increase are facilities, Raw seen a of our January rise. that's than on the So large we're Again, got in kind are of markets where just the what prices right at recent recap these price on growth in to past. stronger effect
was another and believe a have are June one one And our these all board, put that were We expected Each these position offset effect goes in X% and those the across material in that X. of material place into increases. to price to manage we favorable price component we of increases.
continue to enabled team metal manufactured productivity a ago share primary We turning efficiency efficiency identify efficient helped here the to that very down Tulsa that. up with we to here facility manufacturing days operating we accomplish we're products now. go that same done. the at in facility. other Tulsa, when in ever capable team basis. the it the XX We they the that going believe our now And reach we a in this got of. new we that the this and It worked We're very all But And this team. about facility ways first we've quite most was Longview. into proud improve that They've of profit on I'm that wonderful has here the hard. have practices weekly in go about
we've us in does, the seen them whole throughout help of fact, a look production down levels day there Both is see improvement from we're of facility on to revenue 'XX the prior team spend a are a and of those group year. believe of throughout the In reaching very that both basis, them efficiency. and we capable there. nice continuous today. don't to And that, down we results of 'XX. going there that X group weekly improve And end they that to in forward and I go
attitudes very I last very about the network, overall the mentioned a leaders. upbeat. somewhat rep week, retreat was had of doing the had positive They key Our supporting of them. we in were sales earlier, sales brought lot a tenor sales business, meeting we of were way And a the way channel the we
appreciated. much in were shorter times the lead Our few past quality Obviously, over an years. seen improvement we've very
You now. very go that to about been the for continued It's has see stable and warranty down expense stabilize. X.X years
so opportunities that makes lot a Bringing And That that. them times has they have jobs down easier. afforded otherwise. their attractive very to the they recognize lead levels wouldn't
the into What and not a do believe leading down would but overall tenor in demand first channel I be as is this - that year, me were bell have the mirror QX it a in And maybe to lower might back production, if QX as then that substantial anticipated. that's QX they're might expectations that going it of temper being very so we relative terms. up and bit we in of QX And QX good. sales being 'XX, is from why curve QX our
a it's heat for very maybe our there the product have we when doing for now. favorable us water-source the than this before, fall right talked is out in stagnant business we is and but annual little construction. product what we've The new we about were that stronger The back So planning. pretty anticipated pump -
there's steady to had continue it for that very fit that a configuration. the And wonderful when not position is just their manufacturers unit dominant We to be a units but ones it replacement are are good direct for demand for is couple needing for not a years. wearing out, due replaced. XX-plus our And of that product, retrofit to a its have a
installed probably construction. heat have will So we a regain believe It's of backward complete replacement, pumps that us And this designed optimizing our units water-source be that. year. will and allow later introduction. towards huge XXX% occur compatible is to line base. today because not pump of along position to the with factor heat we're market this we dominating well completion new And the with growth that, water-source It
as just million million remain, is $XX we $XX I CapEx accretive over Our bit about million. $XX investments a that around before, have believe that for talked of capacity.
