Financial Data and Key Metrics Changes - The company reported third quarter revenue of $213 million, an increase of $40 million from the same period in 2024 [10] - Gross profit was $3.3 million, up $54.4 million from the same period in 2024, with a gross profit margin of 1.5%, compared to negative 29.5% in the prior year [10][4] - Selling, general, and administrative costs decreased by $2.9 million to $14.6 million compared to the same period in 2024 [11] - The company reported a net loss of $75.2 million or $1.39 per share, compared to a net loss of $54.7 million or $1.14 per share in the same period last year [13] Business Line Data and Key Metrics Changes - The Civil segment had revenue of $99.5 million, an increase from $55.8 million in the same period in 2024, with a gross profit of $10.4 million and a gross margin of 10.5% [14] - The Transportation segment reported revenue of $113.9 million, a decrease of $3.6 million from the same period in 2024, with a gross loss of $7.2 million [15] - The Materials and Paving business line contributed $22.9 million to revenue, with a gross loss of $3 million [15] Market Data and Key Metrics Changes - The company added approximately $151 million in new awards and contract adjustments during the quarter, bringing the total backlog to approximately $2.26 billion [6] - The company expects to burn approximately 39% of the backlog over the next 12 months [16] Company Strategy and Development Direction - The company is focusing on finalizing remaining legacy projects and transitioning to high-quality new core backlog, which is expected to de-risk the earnings profile [6] - The strategy includes targeting short-duration, high-margin projects in both public and private markets, with a strong emphasis on data center opportunities [7][8] - The company is well-positioned to benefit from the Infrastructure Investment and Jobs Act (IIJA) and recent state-level funding initiatives, such as Texas's Proposition 4 [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing demand for infrastructure projects and the potential for strong cash flow from operations in 2026 [32] - The company anticipates that legacy projects will have less impact on overall results in 2026 as they continue to wind down these projects [16] - Management maintains confidence in the long-term outlook and future direction of the business, expecting to improve profitability as they focus on core work [41] Other Important Information - The company is exploring debt solutions to provide additional capacity and flexibility in accelerating work on the legacy backlog [16] - A one-time non-cash tax expense of $57.3 million was recorded due to a valuation allowance on net deferred tax assets [12] Q&A Session Summary Question: Inquiry about data centers and private projects - Management indicated that they are looking at data center opportunities that align with their core market, with a mix of private and public projects [21] Question: Progress on legacy claims - Management expressed optimism about settling more legacy claims in the next 12 months, noting progress on smaller disputes [22][23] Question: Free cash flow outlook for Q4 - Management expects to see positive cash flow overall from operations in 2026, despite potential decreases in Q4 and Q1 of 2026 [32] Question: Size and runway of quick-turn projects in the Civil segment - Management highlighted strong civil margins and the positive impact of Texas's Proposition 4 on future projects [34] Question: Competitive advantage with tunnel boring machines - Management noted that they have a significant advantage with their fleet of tunnel boring machines, which positions them well for upcoming opportunities [35] Question: Expectations for core business margins in 2027 - Management anticipates improved profitability in 2027 as they focus on core work and complete legacy projects [41]

together. Oh, [Music] warm sunlight. [Music] Welcome back.As the government shutdown enters a second day, the Trump administration is taking aim at New York. White House budget director Russ Vote announced a freeze on $18 billion in federal funding for two New York City infrastructure projects. The long-awaited projects include a rail tunnel under the Hudson River and an extension of the Second Avenue subway line.The administration is citing the shutdown and blaming Democratic leadership from New York with ...

[Music] We all punakers spend around 1.5% years of our lifetime just waiting at traffic signals. It's almost like doing a master's degree. Now managing this traffic or driving in Pune is not less than a Olympic level sports.When we go on the streets every day, it's like managing a stampede. Stampede not of bulls or animals but of cars, two wheelers, trucks, autorias. And when you have to manage it, it's a big problem because sometimes you may very well encounter with the occasional buffalo because she feels ...

Sim, thank you so much for being here with me. Tom was just talking about just how significant this G-20 summit potentially could be if we do see a communique actually coming later this year. We're seeing a number of geopolitical tensions, though, getting in the way of a number of financial institutions as Africa's biggest bank.Talk about how you're navigating that right now. Jennifer, the world is complicated. It's going through a very turbulent time now.We've not seen the levels of volatility for decades. ...

Group 1 - Infrastructure projects and clean energy are currently significant drivers of the economy, both of which depend heavily on metals [1] - The iShares MSCI Global Metals & Mining Producers ETF (BATS: PICK) offers a means for indirect exposure to the metals and mining sector [1] Group 2 - The article emphasizes the importance of financial modeling, valuation, and qualitative analysis in investment decisions, particularly in sectors like real estate and renewable energy [1]