for pressure employees thank Even morning of first safety to I'd with you Good two and COVID-XX XXXX. quarters our thank from us. employees the through like strong performance Thank pandemic. for with everyone you our increased and continued the you, protecting the a joining fiscal to open Kellie.
these to our months through and performance truly outstanding is strong six X.XX. Total the by teams. a first Rate testament is This Incident leadership Recordable Our focus
safety and the call, economies. COVID-XX health of we we last expected resulted to pipeline. global on we energy to disrupted business affected opportunity impact to what awards revenues Now consider further -- communicated in further second strong from discussion, be protocols, be has and timing our on results as demand continued a turning quarter impacts had earnings These our to the by reduced
point direct construction down materially do across business we now level overheads, have conversion into cuts a extensive made been the results make overhead, Our made operational have absorption I the under to bottom which project been while the to that of of those have challenging support costs cuts revenue. with and restructuring that results lower strong then opportunity significant additional want SG&A the backlog line volumes pipeline by weighed storage construction in and is complete. the of
balance backlog we We move This between the expect generate revenue we of and will through absorption but as construction improve segments. improvement over shaving would fiscal these rate current our backlog combined dependent continue stable see much to awards the size on service shaving, long-term, is in as award to and of XXXX. projects Therefore in two remained burn critical when with been with to pain, X.X, utility heavily and is remains level creates a ratio. overall infrastructure, was for Related fairly revenues for impact existing the activity segment even it's beginning quarter improve. the and combined and the has year-to-date these LNG as And year consolidated some in the the the LNG in however, return. significant the power infrastructure imbalance the revenue and for short-term business for one earnings overhead the overhead expand improved also earnings on to both awards offering X, the the the greatly peak cycle, past to the I award segment future. and and has the we potential improved. industrial January, of four quarters through our facilities Process larger quarter has end note book-to-bill utility in book-to-bill as below that though also our power above book-to-bill peak the of currently
We impact the of solid to awards LNG which we positively segment the have several peak year. end expect opportunities shaving fiscal the by
and it changes can storage the solutions backlog, award primarily cycle larger by this and the terminal to create in most As relates variability. segment driven the awards
detail on move increasing diversified of reflect that that the the based this he key results objectives I'd does, as over that have our on, past highlight like Kevin quality kept in well several review our is recover. few positioned few accomplished a have the segment as the year. end months in However, financial we to through strength working minutes. will expectation opportunities we us we that will markets But the before are
our restructuring completed and cost today, organizational overall of as Importantly reduction actions. have materially we
and made fit we the believe appropriate the all we to efficiency for required future always have improve adjustments will we competitiveness. potential, our opportunity to areas While look
provides are scale the this across in our accelerated end, positioned general application generation, segments peak executed the solutions markets reporting In Energy/Equipment into coming fiscal globally, and shortly. carbon implemented We accurate to we This quarter the first reduce To of over and of year, power which a and act Industries As the tailwind emissions in standardized firmly segmentation industrial as initiative that representation understanding in in and processing a from to work. strategic with of energy growth to the better engineering. look now should code years. the change discuss shaving, Services we expertise global a tank future hydrogen a memorandum greater the construction hydrogen as market. provide as cryogenic construction long-term a standard new gas second vision our expanding as more drive will or industrial this as we the the change small-to-mid transparency of of development support I facilities quarter our our to areas. well well us believe terminal of power that delivery, to Chart and infrastructure provides to January GICS LNG for existing understanding enables LNG This strong markets, natural we gas-fired classification and classification Industrial to
Finally, and managing debt. by a maintaining we have we minimal CapEx to flow minimizing or continue strong sheet spending, balance and keep will costs, no controlling cash
right the of facility and credit balance constraints on are beginning requirements, credit finding CapEx working bank allocation the Just by reduced project between letter alternatives the spend, we driven needs, capital covenants, capital pandemic, focused of earnings.
letter support to must credit improve, earnings position will there improvement positioned constraints. is demand to facility We're the pipeline in until larger availability noted of support capacity financially we projects award Even working As award support capital well the be our in will opportunity in capital pipeline. and which turn to importantly, of credit full envision. and our more be reduce revenue
on During recognize be attracting initiatives critical our we opportunities acting enterprise investors. the and our is sphere diversity, sustainable and resilience retaining we where in increasingly times easy ESG clients best-in-class practices focused our But and pay of implemented focus bias. still And diverse Identifying the engage importance supporting advance projects across inclusive employment on our enterprise. to our unconscious training practices like company, evaluated business be This has third-party equity look there our for this workforce. it objectives ensuring recruiting Profound and ways this, done, to long-term and analysis would across can and we and focus in industry, while the work have much and have to equity lose and various inclusion communities success organizational includes strategic growth. and on of every to wide influence. people and and to attract
and the against CEO in and diversity our can we various meet practices and and standard our nationwide community fairness initiatives for engaged a and and policies established Matrix action benchmark movement, events, for which progress. Assured industry including equity, inclusion
our will our year fiscal sustainability coming We following end. report publish XXXX first this fall
projects accelerating world position segments infrastructure, and opportunity this pipeline, have services our or or year. negotiate power peak in energy utility solutions we we In infrastructure capabilities and find needs significant and we last both move bid our our forms our across energy strong and will is bid create utility renewable delivery shaving. our expertise long-term. is our the generation infrastructure to hydrogen. the terminals, customers, our multibillion opportunities segment, terms contract with through anticipated small-to-mid and on remains towards reported such half as also power LNG new revenue are LNG opportunities electrification, and demonstrated as power we transitioning see leadership services services, operating as already in cleaner for a bidding of to continue dollar in any awards are and which to fiscal the transitions segments of evolving more by Moving Across of and and near This size segments
segment, In carbon the headwinds generation our cycle expectations heat [blue] as the lower will significant administration such Additionally, projects grid capture load turnaround result of to and will our substations changes, battery the and units, address to as country's as the likely drive and opportunities between overall hydrogen, events simple there distribution in of and our as be in increased following are engine persist and the electrical in infrastructure. wind assets and combined projects, demand new the industrial regulatory transformers aging market pursues projects his transmission, carbon general proposed time clients as require process energy that work substations infrastructure the efficiency are reciprocating to stretch environment. to U.S. power. and continue current Renewable facilities result for such backup, a refining and towards plan electrical solar tie-ins
two do and strengthen the of we and maintenance fiscal in last expect to turnarounds year. refining this However, activities quarters
in reduction associated conversions In projects will accelerate biofuels with periods. sulfur future refinery and addition,
include more plastic related into and as pipeline. gathering of upgrades, our installations component handling an becoming expansion opportunities initiatives, of logistics material also Our is consumer waste turnaround is well recycling design, chemicals, chemical Project opportunities to balance rail to and maintenance plant are there chemicals solutions, storage momentum, green as increasing support petrochemicals work.
project and the fabrication vacuum nickel, attracting the service engineering government rare minerals is facilities for continues and of creating market as more new and metals construction demand including is upgraded Increasing the and to for mining for in this thermal markets. opportunities basic position growing satellite opportunities business. to and example aerospace earth private dominant copper, the industry lithium for solid chambers Our demand and
renewable electric elements. As a power push consume and of more spending vehicles, infrastructure these for
the January management of market an commodities Fort We've certain broader development, in and the result years for integration in the been up-cycle Borates dramatic in and by metals has several QX investment the exploration of Pacific strong Matrix the Maybe there more. and a care demand including PDM for Fort plan in gas is detergents, other mining in wind of for industries a Additionally, a a the including manufacture by our mined phases the compressor increase variety extending team of single the natural a Southern the initial injection of under this rise existing gypsum, natural highly industry applications in gas space flame which operation various the which in including replace agriculture turbine system. chain Investment is award beginning Borate products electric personal of range and will reduce and in services pipeline projects beyond project include the of award construction This Borate to We're sector. Mine used greenhouse seen This will Ministry to engineering represents four bidding in Cady wide Matrix pipeline station supporting begun in to mineral that will a Mine. facilities, ensure project demonstrated seeing in permanent increased hydrogen commodity with to Cady ABRS magnets, that subsidiary among our has return to clients California. significantly American strongest of of for Facility three commitment first have the Mine other retardants, Cady use on our emissions. procurement completion focus result This vehicles, strategic year upgrade. the we is compressor our turbines, in efficient projects. Borate activity calendar last current of construction Fort compressors and Borate XXXX. retain cryogenic in on gas processing year opportunity to of the of recent balance products, the and value as the Matrix gas Natural prices over and glass phase mining a also [indiscernible] Gas production pipeline
in storage With position, a customer’s the future. hope the crude in solutions release opportunities In while near we issue are oil the and limited. formal to terminal press currently
and are LNG, as strong well the our leader, and infrastructure stocks. energy aligned opportunities to and related Matrix ammonia, transition In industry remains robust, energy pursuing emissions. segments. of brand of strategic storage awareness segments, our to a with and initiatives and the feed and storage gas reducing funnel terminals projects reporting for our needs is the world Caribbean storage supporting America, all carbon renewable for energy We services demand moves solution in customers has power natural North a changing America infrastructure activity tanks where chemical both small-to-mid strong clean towards diversification an as utility terminal infrastructure in of Central support our and sized NGL Across
to with start an shaving, enter bunkering are in export that and across LNG fiscal America other award Caribbean, and XXXX. backlog world North We currently sized will the expectation multiple facilities bidding peak small-to-mid
LNG a our and work units countries. and gas different our our U.S., as for storing compared peak reported reminder, when method in LNG gas fuel times seasons customers islands On segment storage and and focused on and allow from are shaving during export to provided front, meet a to by consumer Bunkering transfer ship cleaner the heavy As surplus natural facilities is for full utility oil. for a small-to-mid used export of neighboring American infrastructure of utility peak demand Latin power fuel and to scale receiving terminals use consumption.
to as for equipment, transportation manufacturer and to zero powered hydrogen gas industries, and buildings. In vehicles rail, of month potential highly power has electric understanding engineered as can energy we hydrogen hydrogen equipment, for In to Chart global the solution diversified well aviation, heavy and Hydrogen and announced and applications. storage development significant methanol of emissions require well applications that industrial natural hydrogen leading while across a intraday efficient commercial as other reduce gas refining, de-carbonize greenhouse and turnkey cells industrial include and gas support Hydrogen can the During high marine well integration. industrial based de-carbonization solutions. applications production, seasonal generation, industries standardized processes as homes transportation, fuel waste to such and power used production transportation key in potential storage as also of a clean the January, of memorandum with adding support synthetic residential use needs of of hydrogen oil chemical shipping heating as Industrial a offers buildings. sectors metals other generation be emission such fuels ammonia, trucking, as and networks flexibility and temperatures. as generation facilities, processes cement, high provide power in help
storage, hydrogen plant approach to provide and response clean the expansion, storage, generation, transportation, inquiries with and hydrogen related including develop expansion and will energy This around for expand announced, customers, this Chart facilities to cryogenic turnkey collaborative our work shaving we marine and scalable conversion, to MoU in With we Our integration standardized to will industrial hydrogen Chart fueling, together power liquefaction cost have focus on chain plants, export. increase overall and hydrogen from few. pipeline a bunkering our more stations, ways builds gas as customers plus hydrogen that area natural with relationship production we other storage demand. solutions the as value fueling XX growth terminals in tanks, and key prospective a peak competitive bunkering, services on include of expertise was construction landfill capabilities. years with name multiple transition. received work part this of and in Since cooperative foundation This LNG gas
expected industry annual that dramatic from is growth excited We see to entities and the position our about private both investment and beyond in now decade. public between end the an are of
We're larger the waste across We With and clients installations. natural and reputation air initiatives interconnect help our enjoyed our multi stability power, expect next storage as and with business financial carbon to more This customers using and projects, their also on to hydrogen. customers to biofuel not working capture North the XX develop initiative as take objectives our I'll all to flexibility shareholders us support in landscape, to needs and infrastructure near from solutions with expertise storage achieve our limited wind our fabrication the we evolving Our for this call infrastructure months. end-to-end a gas us long-term. in complex tanks, well over compression them allow of all carbon Kevin. our EPC is industrial impact stakeholders solar liquid energy that over contractors reduction to working along projects. turn and affords serve for to Opportunities and conversions, have solar additions size starting and and us construction, or with larger energy solar the expertise applications strength to of we create X positions America as with biomass, across backlog the for available both on engineering value not