about discuss and before closed had conference year. Good the our talk Across I how we fourth But excited to fourth teams morning, quarter the quarter. our to welcome an outstanding call. I'm company, we accomplishments our the for of of out would investment some XXXX.
Previously, growth highlights plan. during details quarter, our like to laid significant as framework revisit strategic the and XXXX part I
and growth competencies built and core Our we pillars: is developing strategy we X on and transform. markets. our support expand and support growing strengthen focus When strengthening upon and strengthen, our in
both and expand we our As investments new and our home we transformative work transform, markets geographies. grow to in with more business
course to these markets work our strengthen higher Over win selecting and XXXX vendors types we claims competencies, constructed our while strengthened we with suited the of XXXX, to by selected more our customer we In and that segment, local to high projects projects, owners, legacy work home projects subcontractors the The intelligence and without right and our leveraging levels our the the of support work. plague market of margins. Construction at core businesses. satisfaction
plant and in In markets in aggregate through by additional our our reserves. we equipment acquisitions, projects automation Materials home invested segment, and bolt-on investing
billion. state state, a had $XX Texas home is $X billion. a California, our awards the construction and Transportation is Road to contract of lot next have We at country example. Builders good success markets. According Texas [indiscernible] is American and The transportation, local closest strengthening Association, government and
the years region focused Houston. the chased Midwest. As the historically strategic plan on work Dallas, implementing Texas Worth Southeast previous several we Texas ago, began on our Fort has region calls, XXXX and and Since discussed across
country. as DOT, with to we missed years and vendors, those the for pool, strengthen markets we has strong in opportunities Granite the Texas been has across and more Although both labor relationships XX relationships these subcontractors pursue of work than
In strategy growth metros markets, funding and a applied including site with a water, transportation, selective range derisked different development. of targeted of have cap in project Both we airports projects end to approximately These a our good $XX end million private portfolio bidding pipeline and an of and year. average of resilient strengths build projects. of competitive are XXXX, projects for to advantages per the as a the size markets and leverage
improvement cap and is the quality region. the Both the historical size of from Texas the a of cap significant
investments automation side, the consummation company, and across we aggregate the projects quarries business bolt-on in the and significant of acquisitions. material targeted the supported strengthened On with and reserves,
markets. added First, acquisitions. home to In strategic XXXX, we our bolt-on aggregate that capabilities acquisitions completed X
The in Canyon The home Brunswick XX asphalt first our reserves million expanded markets and Nevada. [indiscernible] Canyon added Quarry, Nevada. in Brunswick reach purchase of of was [indiscernible], plants an Northern integrated the the Carson City, tons
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We evaluating opportunities, our in been bolt-on believe through Arizona. have focus our like Hidrogate another market by acquisitions. to completed continue footprint home automation can Tucson, similar grow Swan and projects recently are and continually future facility acquisition we Aggregate facility
shifts, produce weekend The night minimizing automated cost reducing at new and challenges. we lower aggregates plant to that thereby use workforce technology while
Calera quarter facility automation first is the expected project California XXXX. in be at of during Bakersfield, second our The completed to
not additional XXXX to for While our all continue in in out suitable network plants, aggregate automation to XXXX. facilities to expect and technology roll we
to intend strengthen our support we making and to home investments forward, Moving markets. continue
Memphis healthy in well-run that acquisition in we of fact market Stone. additional The the X strategically a interested The into is team Lehman be the long-standing, that during businesses discussed and continue The greater Gravel have like Gravel transform expands well-regarded Granite's a acquisition Memphis tons for is We having are area that I are consider million Mississippi, will investment. [indiscernible] strong opportunities Lean a and will expected of Company will the serving good we in Northern first lead and growth. that'll operates [indiscernible] platform quarter to Stone be gravel that XXXX, then that leadership growth. market. and such growth sand asphalt operational just the companies They total can for that continue leadership growing and located reserves. Southeast acquiring mine Memphis Company are while an operates grow growing the and footprint our mines with and of [indiscernible] XX expand operate example positioned previously metropolitan The an X Memphis for plants acquisition also and would look the post of and businesses. and attractive Memphis types through is of that staying to business. businesses investments
with to We expect consistent Memphis in Lehman Stone XX% high and approximately profitability and margin. revenue XX% between in $XXX XXXX, EBITDA million add
We are and to XXXX in beyond. build excited the the growing platform on Southeast acquisition this provides and
into Now seeing California. on state for I'd to like specifically we before touch in to the dive related the funding public I what segments, of are transportation and
investment throughout bubble complemented strong present into the As industry the a opportunities our by Granite. market level private for in market, federal funding of in construction a we infrastructure. housing believe we revenue years seen in mid-XXXXs. of public their We the benefits the continue have the for growth the throughout industries state that increasing level future. and geographies short-lived that funding civil various market This not since of are and believe is said XXXX, we Together, this robust has created which will
transportation In California, cap. record largest high to project market, our translated of levels funding has and awards
increase whereas year allocations. transportation the consistent XXXX to June in most for there to proposed state the funding and and these Within allocations X respectively, level June current project XX% for budget, funding overall local show in transportation during billion, projects compared XXXX correlate outlay California. Capital budget primarily awards outlay assistance Caltrans and despite XXXX, $X.X increase of fiscal fiscal projects, level to capital $X.X Granite, a that accounts The the at previous assistance will are in allocations are are the expenditure [ to funding future in municipalities ] year local years, which the areas local and June projects shows opportunities billion projects. XXXX. in billion level for ending of respectively. deficit expenditure $X.X an a and XXXX, for California budget This bidding calendar Caltrans end transportation Actual resulted and allocation estimated provided ended
California This transportation continue at We several funding sources in by bill. levels these Pacific the minimum. at federal is the supported SPX in a infrastructure for funding years revenue more believe budget to transportation support these the will that
awarded allocations amounts for which As represent construction then prepared to for a need and will be then reminder, letting for construction. released projects, these
award for contractor current the not time made allocation, on for period a construction. may allocation a based several revenue to in an turn example, and more For between letting, year the into budget, years project
was Construction impacts Moving frustrating quarter to segment. is legacy bridge I-XX Tap projects. tempered the fourth It Z high-rise by strong and our negative from and that the really
probable event, negative gross our a Tap Although the of to resulted impact a we profit noncash This Z developments in claim review quarter. during the recovery dispute the $XX reflect and estimate adjusted project in on fourth process. million to
I-XX noncontrolling fourth quarter activities $XX construction million profit are interest. on complete gross $X million substantially even [indiscernible] addition, project, delays In after negatively the now or though and impacted by weather-related
fourth The revenue the year-over-year, quarter we record Construction XX% a However, into segment. the growth cap by quarter. was it carried tremendous for the grew driven by
sequentially replace a significant environment work this to which than market XX%. While though to cap of we it higher by bidding quarter quarter. third win Even the much from cap the this $X.X shortened led the record revenue to growth, prior a revenue decreased billion remained burn, able were quarter, holiday and is the or testament during year to
California groups, Group, XXXX the billion group with increased and Diving year. the prior than third million starting our the $X.X with quarter, into from and cap to XX% the higher enters $XX operating cap
balance quarter group in revenue growth another cap the cap going of was of XXXX. year-over-year record the XX% quarter With and in the record California, fourth experienced first the into tremendous
together we address work to design projects, in end under methods quarter Larger best through and client. Also, delivery project build large at XX to $X.X to a success bid-build value XX These $XXX more construction California value have lead the the in or separated manager for mitigate providing contractor us value are allow have or which fourth rail value then better multiple million collaborative us the opportunities completed year added during In represents like of XX% often includes the cap. best years, state. billion progressive to the work-packages, and best of This total best which the projects. project last in with position projects workshops, company the construction risks continues in cap small importantly, facility and general this risk were private reviewed for projects.
completed generally fewer claims. quickly are projects these that more and found have We with
As the mentioned, see opportunities in public continued investment continue sector. the funding state, foreseeable the elevated We and trend future. in believe and this we for remains private will
in I to third expect of the cap but by the fourth the in XX% state The the revenue the Alaska with budgeted revenue Group, XXXX. XX% million in quarter, Mountain group quarter, $XX increase decreased and the level grow In from increases to XXXX each Mountain for higher spending year slightly The ended Group regions. to and year-over-year. cap, a led with expected impressive an the ended continue year-over-year higher XXXX cap Utah in increase group by of
billion. although the $X.X with an of $XX by $XXX Group, Central the Finally, group finished year-over-year million, during million the increase quarter decreased to cap
remained quantity growth XXXX. increased return of expect the I key has group to and margin the contributor expansion revenue the believe in a cap to has to be expected While our I Group's the Central significantly. consistent, quality
that over our decade. is that Granite with market IA the strongest, high-quality with growth the a fueled coupled cap, position believe profitability macroeconomic in for in I the and by construction
Moving strong completed performance the segment. in the fourth Materials We to quarter. another
across X support years, last segment XXXX actions targets in the taken our margin of Over gross this to we profit XX%. of XX% have
grow volumes, expansion meet revenue revenue. automation, confidence and that profitability raising focus tons the continue with targets, prices, Lehman Our order bolt-on we increases, anticipate efficient expansion, With including geographic combined growing will our not Stone us but we Memphis that XXXX. price in operations in on when And more transactions, gives will focused XXX million we to in through reserves, strong segment bolt-on added geographic expected XXXX, and and acquisition. purchasing we financial investing only stabilized sustainably and acquisitions further reserves costs, of materials consistently and
over it to our financial turn quarter. review performance Now I'll Lisa the to for
