Record-Breaking Revenue and Growth
Revenue increased by $158 million or 12% year-over-year, with gross profit increasing by 28% and adjusted net income improving by 36%.
Materials Segment Success
The Materials segment showed significant improvement, with aggregate and asphalt volumes increasing 26% and 14% respectively.
Successful Acquisitions
Recent acquisitions, including Warren Paving and Papich Construction, have integrated well and are exceeding expectations, contributing to both revenue and margin growth.
Strong Cash Flow
Operating cash flow for the first 9 months was $290 million, surpassing the target of 9% of revenue.
Positive Market Environment
The public market environment remains strong, supported by the IIJA and private markets, leading to increased bidding opportunities and record high CAP.