and you quarter good outlook with update week portfolio. thank and results unanticipated everyone view our full-year of project Heavy second we and in by for the morning, us Well Earlier our group thank an which was joining Lisa this provided of you XXXX a Civil operating today. you preliminary all precipitated charges XXXX
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years. legacy the disputed delays XXXX for been the execution charges Monday’s costs in by resulted and discussing and by XXXX projects and we of reported to work charges four the announcement. relate scheduled that between bid exacerbated These have were which The in several today
related one an court project ruling of July, early the of we on in outstanding Additionally unfavorable notice disputes. received
revised million charges, in result these in our full-year our than for $XXX detail of expectations and reduction more our will results we a guidance a have discuss revenue a more Jigisha shortly. XXXX. quarter, included which of the As second
Civil sharp the this that mentioned. in are group recognize just in results contrast with backdrop quarter We Heavy that very I positive
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This the are all business table. certainly on is the not and as usual options
focus margin Granite priority main is Our bid appropriately completion. our successful the talented deliver working on to near-term that to our ensure is teams Operationally are project resourced day projects expectations.
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will bookings simply impact delays with from we it biggest demand I call here across XXXX. year, achieve assumption well second With will the us business. the that strong end allow the the for of additional high hope Fortunately have weather up until these as half tiny to of strong revenue to single-digit go weather for wet the is a pent an in normal anticipate consistently created growth
gist Civil let’s to group. back the Now Operating Heavy
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type projects on values contract contract legacy project four it’s billion. hold performing price of to of to delivery fixed designed the $X in with is a $X in each excess billion nearly model. ranging work of this Each When
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clearly are with not or of These our pursuing expectations years projects aligned Two new seized with those we ago projects. stakeholders. our the
significant early of Our XXXX in project size. wins projects not unconsolidated JV any have included any
scope deliberate been and by rental reducing across have of We Company. duration to the the contracts our enacting risk
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and At value strategy a skills. procurement and Management all Our known design Contractor CMAR has work methods Construction best negotiating with CMGC. our as General and progressive build on value known technical Management as Risk procurement shifted strong waiting best Construction including to our
scope average targets. item a the now are bidding reduced for critical significantly of duration project projects cash considerations and overall opportunities have gaining We and flow and
our strategy venture the projects addition has position. on with Granite on or Granite projects sole exclusively In almost lead in focused
cash By lead, for performance taking destiny all profitable control to are all a consistent financial in flow the deliver operational position improve and better we to stakeholders. and better Granite our able
there get However, How we do diverse with understand of rolling have more we that we portfolio begins to work our do. work.
down Granite this end the group year XXXX with third CAP our of capital more than quarter of $X.X or from significantly portfolio average brand an This record check. XX% mid-year more $X.X of the billion of current Our Heavy value than At year-over-year. was second billion a overall XX% our the approximately since of XXXX. up Civil was
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our footprint acquisitions has through Granite’s infrastructure and expanded the the in Water past markets. solutions dramatically waste organically both over capabilities five and and Water years
and and reduces We for presence, resources project provide project improved networks in are Granite driver quality risk. a This capabilities of strategic advantages. critical is project focusing our pursued markets
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is changed Typically what we a today who not but here, a are. reminder particularly at start time Granite, has of for good we
way, from We to investors are and clients. Granite's infrastructure to all and commitment creates and things day, unwavering our America's for the value right employees stakeholders do partners Company every
zero XX Company, and most us history. goal our Granite our heightened of on in stakeholders. focus aligns with striving our year consistent our XXXX, across acquisitions a teams for have With safely XXXX started the the certainly path ultimate in Working safest recent well including injuries
ensure a single important used make demand is incident of work rate. With An on a safe. for are your Today our best-in-class the healthy CAP safety that and all focused recordable hard metric teams all our at performance home day. employees you well OSHA every Thank please record working this Granite and to X.X. remain stay operating employees area in to it we outlook, and below measure level, to common safely
we have Heavy the across demand remain Granite's views group strong in on markets. experienced by remain and market booking robust The our trends changes Beyond market and private conditions strategy supported end operating public intact. overarching Civil
key continuing the by local and state approved Public in $XX state transportation program in California, multi-year programs evidenced recently billion level, Washington, infrastructural demand Illinois. is further by of driven the at Granite and geographies including investment in the Utah
market in growth strong bolster private continues addition our most demand outlook for In to markets.
expansion. investment anticipate for to point infrastructure mid-cycle to As time, today's continue ultimately that XXXX some we stages we have early a mark XXXX will said for of
believe that together factors are quite that poised to business our Taken these the steadily the we is time. key grow view for support some
operational let's overview of segments. reportable to our move of an second the and performance Next in overall quarter
have floor project top market geographies second additional conditions delays driven by weather stacked of and work strong So end markets. across on
XX% From from XXXX year. period the field May June in in hours up the jumped same to XX% worked last
Importantly shifts are to meet year. increased and strong June trajectory XXXX of work six XX% weeks order than seven day demand year with fast June's the over multiple more combined becoming work the hours day. performance and
and well teams is what busiest to summer ever. swing are construction into of season fall be now the Our full Granite's expected
shift now mind to quick I call overview in segment a will over before I that Jigisha. the hand With to
Okay.
with start Let's off transportation the segment.
our negative a our accelerated operations record noted, California bookings segment and even we in had June As and transportation weather the impact in group pent-up strong of demand the in may, operations. across with CAP West driven have wet in activity most through persistent
of improving, has operations work. These trends by growing largely have and transportation by Midwest. our long-term portfolio for most state local West driven funding negotiated Most the opportunities across stable, our and in of been matched and been
improvement to part margins We business. mid-teens this in our margin profit continue to gross target of significant
with balance and project in And that relationships. action materials, vendors large and we diversity consistent equipment hope access as portfolio non-sponsored efforts create clear, and our projects strategic away accelerating our labor, subcontracts, I leverages fleet best now global dynamic large LIBOR are we made to geographic tailoring the from
Moving now to the Water segment.
the marks quarter This anniversary of Layne one-year acquisition. Christiansen
teams majority the and of these continue their businesses. vast round on focus activities growth the and With integration opportunities behind to in expenses of optimization sharpen now us, new
primarily revenue segment last year's This second driven quarter growth delivered acquisitions. by
changes and integration of made in Safety We in incorporated One the is enthusiastically safety have Safety in efforts, note key Performance. we proven adopted highlights significant investments and the safety teams our and programs. have made of in and
congratulate As from a incident it teams improved our year-to-date X.X year. effort, incident Water keep up. for figure to above result, last the OSHA I dramatically X.X concerted for business rate the this
second flooding and Certainly and projects record with progress the rainfall Midwest growing Water our the historic weather of the Layne work. impeding portfolio in across challenging quarter was
demand conditions Transportation incredible created adding half strong in for As only across of the segment, second the and and year. geographies pent-up the to weather delays expectations solid market
Next, to of growing mining renewable and capabilities. strong leveraging Specialty by and is and fueled tunnel, combination the our site move segment highly energy, let's mining the segment. teams Specialty development, equipment federal services, specialized in power,
the results This included that comprise a project mix, Improved mix projects by revenue acquisition. the diverse reflect of Layne was acquisitions and businesses anniversary by the driven quarter of segment. which and
are and wins to expansion successful customer demand and By the all in key This for our addition, parties. division Granite strong In aligning private focusing well West. solutions in investment challenges, seeing project in Southwest in focus for continue with as be differentiator. commercial value work we sector significant we the continued solar federal overall demand is solid states, coupled on industrial a in creating outcomes, needs as
finish on let's Material segment. discussion Now, the the with
again portion the a activity liner asphalt and key quarter this businesses in June. of the our Here of with and with our positive products of impact products poor is contribution of most and Water inflicting small production weather sale The Granite volume May production business. markets had through drivers concrete to from a use significant
of are second demand. our positions record and another Strong the results of This visibility to committed XXXX backlog. fueled our into half extremely supports materials by saying, well improved a for XXXX way rest us volumes, expected be XXXX
is as also demand. work our to steams and So now, in our business across much earnest employing rates shifts six are material and it of seven producing multiple meet
driven by operating increased horizon. of of our businesses committed foreseeable this believe a by our growth. days in number be performance combination steady Our the part only and of economic Today really our volume will of that business the we on limited
guidance. now that financial results with and turn And XXXX I discuss call our over to our the will Jigisha to Jigisha.
