and that weeks Mike, earnings minutes. new briefly strategic we important our steps announced. announced morning, to our we I'll me fourth strategic begin implement steps forward a the you, with quarter and were few on call. Thank and a welcome touch let plan in review ago, good as our continue to Three drive plan. But several of
a that inliner, to signed agreement as we Granite definitive sell and close expect previously we First, transaction reported. to
businesses. Water former announced and operating Secondly, water inliner, resources and mineral to mineral resources services we also or services sell our group. Mineral Granite and comprise Services intent water WMS our
held-for-sale our reported and now as announcements statements. these WMS financial discontinued has in operations With been in
our strategic Our a improve stakeholders. recent for company the of the we need few plan can been performance value to our we focus has are This past revisited aware all the as from our year. so through that lot struggles create was acutely our years; and past learn over our we
XXX of one This built done is for together return what years on my lie the and we're and country. core the around company's material that businesses. our of the we civil study management and that clear new All discussed our was As be have our to direction core we came confirms it organization, competencies team that contractors in best construction our our future should the Granite's information belief skillset.
the Board businesses, our we supporting bolsters result, with of both new building decision and these This the this WMS business. simple our our a we why to strategically is acquisitions. company, divest civil full our core on success depends opportunities on the our invest concluded core is on and aligning and all construction and of efforts being support position, best is organically We on As that to with in in team believe materials focused and our of businesses and our focusing from cash us resources a in decided our energy shareholders. and that businesses, Divesting competencies. allows Directors, interest our focus through of our grow to
both invest We developing will our in and These economies be in and of capital and additional will support equipment technology. functions. in upgrading people scale, position our in create operations investments to
years. successfully We to will familiar position predictable model, we a be XXX grow a then for run in business that have a one
now leveraging is past. truly by Our be going upon our built to future
we planned divestitures transportation, on our to the to reportable we construction materials focus and of construction our water, With performance. specialty, manage We how assess reportable in segments on our based civil new change materials we also and of the core allocation and from materials. businesses a capital, the segments how our announced of and markets identified WMS With end our company business. are from strategic through and measure we shipped away the new plan, segments
of projects, projects to including dams and as such private water-related a site transportation spillways. and projects, end continue development construction variety will in We operate markets, projects, mining
of will than our and markets strategy these All underpin and at teams across home both bid a to leveraging and growing the competitive growth. of private resources, to in and we customers lead our been home and Granite materials teams projects high-value leverage local always secure profitability public the Strengthening of Granite our consistent market the and advantage operate. to geographies, of is where to markets strength working expertise our these our ability their that achieve markets core by importantly, utilizing that same gain built all the core has knowledge are projects, our work. competencies
the three groups Northwest reorganization previous operating business the and shift announced energy and the of operating groups also the We Civil, Arizona exception former the Northwest a California to unchanged the that operating the into of of of the group. region remain from in our five operating Midwest was to previously of central The our Heavy Mountain groups combination from Federal largely operating Mountain Operating addition with renewable the Group. groups is group with
allow shifting to our a former operating the Civil change transformation the our Group our phase benefits Heavy focused this built businesses home of project home capitalize and We strengths the in a on more market will these As proven the The of This regions adopt Florida strategy, former believe will group, model. market next Civil Texas is market upon growing Central operating occur Groups. group. of the selection Heavy will areas. not states. criteria believe, market home in we have our key This have group these to focus time overnight, opportunities the we strategy but in the and pursuing these will are and Mountain our develop been other now and And Central are in the strengthening we transformed. we right the California of take markets image teams transformation to presence
authorization increased in $XXX in program, repurchase up an for an authorization in announced share million purchases. resulting our we Finally, to
We have and through proceeds and XXXX, should shareholders divestitures the from Group, have cash expected the return strong maintained share WMS in additional liquidity former we and value flexibility the position of our business through to repurchases. invest with to
plan Granite GVA. the people, into briefly And maximize market raise Granite in much strategic me are about or share, themes. strategic few our where plan future go its our the years. our key in new Now, is would and near going develop more we new There to let detail on and bar, Add our Value new four plan: grow themes next strategic talk
for us macroeconomic and and as of foundation. result We competition on people, that the centered believe low-levels on of the in refresh development There's values and sharing resources, of to as levels also foundation our be to best to effective developing develop people a using more demand renewed our our only that The possible with civil on core core the market people to our a standardized incredible Our strong are practices. funding. unemployment, of increasing organization. is all people focus will leaders their need not contractor a our processes strategy. we competencies, focus achieve Granite theme In growth infrastructure but retain is assist at
is on unrelenting efficiency drive bar centered and on execution the raising our of profitability. theme focus next to Our process
the types process, project We talked to last are pursuing compared significant lot we the in have the we year selection about projects our years. changes a of and previous over made
the tremendous this We as in made of area progress quality and our transform mix we have CAP.
We expect XXXX, lasts timeline and extended even XXXX our more awarded year work in best value but one over in projects to Manager/General some risk typically have see construction commences. construction as initial is such Contractor construction contract before or manager and as Construction of that lower benefits XXXX, projects, an the CMGC
bar, the be and are improved Within from delivering all have prevented experienced achieving improved consistent issues this focus standardized project execution we We certain on we profitability the best profitability. have that that focused period. across each into should of us this driving theme levels with raising translate of believe of consistent businesses. on We our execution practices focus and renewed will requirements also
includes Finally, this theme efficiency SG&A. within drive to efforts our also
focus. While we of good continued SG&A an remains area made have progress,
our demonstrated losses the A that Unfortunately, utilize theme over in competitive to integrated by when or performance we integrated markets. risk, and large material been the acquisitions. history our old risk establish performance model to as vertically by is share. reserves M&A grow we and home through for new and organically advantages. perform is businesses. been The our as intend such strong of see markets, have home Granite's has plan higher businesses acquire invest to market third business of vertically integrated to existing our overshadowed in many conclusion strengthen key bolt-on opportunities vertically recently This invest ORP. of and best additional awards our well strategic market typically home on project equipment, our opportunities to expand as and home markets portfolio, We We
plan so and The and maximize invest the liquidity provide ability our XXXX balance business; us to to theme of do in GVA. in final Our we sheet is strategic plan bringing pulls intend or our the value to the together and of strategic theme management in through words, our capital other of and growth earnings, stakeholders. This terms by profitability, in consistent impacts beyond.
our hear these near and themes As in future. much I mentioned, you'll plan about the strategic new more
stay So tuned.
let's our talk Now about segment. Construction
As this operations. across all Group, projects is the in now discontinued segment WMS presented the includes construction excluding reminder, which a company former
from the of ORP. XXXX, in million the For XXXX earned revenue and Central progressed to work Mountain by the revenue Group. through XX% Central Group, prior-year XX% construction the came was came $XX Group, the declined XX% In from compared the as Group, California approximately fiscal
meet focus by As new has our that this transform year, I've Group the discussed ORP projects as our project been the past pursue we to criteria. selection completing
new New comprised serve Phoenix customers decrease new in the revenue. XX% XXXX. The region. The California expect. Arizona office and integrated decreases plan. work partially offset there strategic throughout we and group returns Arizona implementation made in Arizona in several this we fiscal backlog significant and have in that offices were Group million open Mexico. construction opportunities in in that progress Based should our in Arizona revenue intentional, in market group, vertically revenue to contributed build reflects to and of The $XXX our XXXX. were transformation a in revenue were increases in to Revenue We the which decreased the region second in organic prior-year; expansion of continue expanded in Tucson, deliver region by the factors this that the our from the Phoenix for our the region substantial to These are
by fiscal accommodations the XXXX. the traffic conditions. results the half we arising of acceleration lessen The of owners from the first was projects to with factor led gain recognized record This as pandemic was in work second
to With quarters our these accommodations, of on fourth work in of able our significant a complete CAP crews the were third XXXX. and amount
revenue the fourth of Group the disruption XXXX. factor The in quarter of XXXX. reducing This with second increase quarter a in an fourth weather-related contrasts was California in dry
the quarter in carried we fourth mentioned that third into on reduction as impact the competitive revenue half of in the in quarter result The of XXXX. experiencing extended were the result Lastly, third revenue the XXXX, quarter. of first environment during over a I was
the which the in still Group XXXX, the for talk strong state factors outlook fiscal these quarter, about and carry for we and budgets our are in is and into few bright. reduce combined further minutes. fourth Funding revenue California year will I While very a strong XXXX, the CAP
Nevada, the our revenue, revenue from finished Driving the total XX% Utah increase Finally, the regions, $XX year-over-year Renewable Washington strong Division, with an the of with XXXX year. increase million Group Energy the Mountain of construction prior and fiscal in all in turning were performances. strong coupled
and and We have vertically build growing longstanding in all us businesses upon. markets to represent established these and opportunities integrated regions, for they
the has across U.S. this to operates division fueled been strong U.S. presence expand renewable generation has Energy and government's and market, growing sources. by Renewable primarily storage energy a of Granite Our to installation power which in focuses the shift battery solar facilities. push on nation's the
CAP Now billion. on the to our year which $X construction at ended
a only the WMS. is million operations CAP As and prior-year represents the million Groups this slight California, and continuing from the third excludes CAP CAP Central and $XX Mountain operations $XX in decreases billion reminder, or respectively. from of of is quarter $X and discontinued
is procurement joint Historically, for we large project remained of project a introduces submitted of used our and a and business best two percentage responsible risk see very more design remain project projects and On These construct development the with types. wins slide project. and CAP owner selection for procurement by when and our our type and provides trend our the type letting other our commonly by is two CAP, CAP of procurement businesses. procurement measure procurement assess smaller, departments of allows of on to Design-build responsible contractors. the and lowest in two of value transportation project you bid-build, type for risks quickly venture design is type projects and percentage was are is views the quality. will the the we remaining the owners contractor typically project of is In by of the to projects risks, municipalities and procurement who key Contractors This design our type construction and the mix we the can typically ORP years, bid-build majority bid Bid-build widely consistent, integrated majority of takes design bid-build of larger project quicker design-build different for the design last portfolio group. projects particularly impetus on for majority CAP vertically projects. work new projects the the portfolio a now used Bid-build to This These are the more completed. The by of responsibility the in operating job. projects. project mix. build has procurement of were Granite criteria. throughout of ways that that markets, our view and partner our the release the bids by XX% used approximately expect frequently represent the a often when are
complete Over as over the two years, ORP. design-build last consisted projects been has CAP reduced by half we the continue to
our expect a We of in the remain that design-build future. component will CAP
construction several the projects such to to quicker in the can the are is times, collaboration procurement low lead and based contractor. much that compensated local type. and the a work the additional not owner have this and type also last projects and markets intend we construction procurement project Granite in we on due However, In experience release experience. procurement value between actual strong the to design-build this project Best where is based primarily contracts risks and value design and longer phase selected of qualifications bid-build projects, to very before allows value begins. awards best are owners and in contractors our are on including our best pre-construction has project been Similar successful -- solely inherent target home knowledge for projects fairly to we qualifications our leverage team's can team's where can we projects design procuring years price.
future. view us provide diversification also risks geography. of to portfolio a group. We're type, by two simultaneously procurement and our risk the We claim. nature this the the a in due increased to to or the at We dispute in of owner our we expect high-level of years. When but allows portfolio, rise over will procurement CAP of collaborative increase the our look is percentage work The and very they last to we CAP legal pleased review component value the a relationship type to type before continue the with operating it in next of our value of CAP, mitigate of our contract project with be significant of have the best and this believe by level
ORP For Keep the in in Central including years, reduction division, the integrated Central last our see this CAP percentage a by the Texas years. reduction in decreased region, and Arizona selected our mind the the region, now Group's two Group. our the last the division more of group total ORP as our the CAP can Group regions. you civil in within federal But that vertically new the our in includes formal has of in selection Chicago Florida project XX% criteria, our CAP two Central and
the economic in as demonstrated transformation project selected grow Mountain diligent reflects we and We're in transforming when our increase CAP in in look stabilize well in environments in the be groups CAP success decrease excited Offsetting expect increase in remain these the markets thus The funding and we as As or Central Groups. at best to Group we of the to value in the as in XXXX. we their and those have the strong modestly adding procurement in mix value the CAP California both the Group, Central partners CAP. owners is projects.
a in recent Now stronger we has portfolio years. are positioned Granite into going risk with that as XXXX less had
state the agencies. with CAP home federal with as bill our our our allocated municipalities believe well-positioned to We California, and and infrastructure are in DOTs, new I grow are across largest very funds pleased the markets are country. in not CAP only our to from also we distributed but strategy market
revenue where by finished volumes weather year prior driven operating year materials Now quarter, wet was the annual the groups. the higher the of in fourth across the XX% by to we impacted with turning over an the increase although business Materials segment,
For by volumes asphalt XX% over XXXX, other group and X% prior-year. increased increased by the
is our sales. revenues but get plants, asphalt of and higher of sales internal These oil as and over percentages along asphalt. we which oil-related gross benefit and for two with our are approximately our the calculated not multiple also last lower only asphalt component year years. XXXX, include construction In to liquid A the has asphalt, saw a a derived XXXX, from had In production in XXXX. our as asphalt During throughout significant into basis XXXX, other products we sales, in from projects. liquid external to XX% costs materials variable of sales asphalt results prices on well increased pricing
Eastern apply a In we as contracts, bulk such and measures over see XXXX, oil our did due mitigate forward prices and during experience rising negative our economy to results oil XXXX. prices, purchases, continue conflict to While exposure impact the in in hedging in to rise Europe. prices oil rapidly other we from the the to we concerns
prices We closely risks. will continue measures to and monitor mitigate oil to apply
including ports in and water to five or and $XXX of many federal in after bill of finally a indirectly, incremental Investment billion investment on $XXX variety utilities. signed and which market in XXXX, bridges, power seeing the being generational was into touch funding infrastructure the of country. This November months. what of of roads the Jobs level, Granite for needs, are law needs critical and for and economy. and The in I'll and participates in wide infrastructure billion we water At a years, the Infrastructure for airports for is $XXX from Act Now in the directly represents transportation funding funding the many terms construction. provides This billion law over discussions
the expansion we steadily the economic to for and market. bill last But will geography. We industries has these various environment a private benefit civil support their local renewables additional The economic At with years and from clients healthy. vary upon in believe the is from should of funding is tech voter-approved expected private state Granite should diversified level, types believe, from footprint transportation clients many mining as that on environment. different strong relationships continued and a the based built drive also we As contractor, several companies measures. to there's market our markets expand in benefit general projects. over benefit
We will expect that more appropriations, once as and opportunities generated progresses. to be Congress funds XXXX bill activity infrastructure
a However, and should in more XXXX impact XXXX. meaningful occur
go Now, I'll it over our to financial turn Lisa over to results.
