Revenue and EBITDA Growth
Revenue increased 7% year-over-year to $205 million, and adjusted EBITDA doubled to $11 million from the second quarter last year. Sequentially, revenue grew 9% and adjusted EBITDA increased 34%.
Strong Backlog and Pipeline
Backlog grew to almost $750 million, and the opportunity pipeline increased from $16 billion last quarter to $18 billion.
Marine Segment Achievements
Marine segment revenues increased 3% year-over-year and 6% sequentially to $135 million, with adjusted EBITDA growth to $12.7 million, representing a 9.4% margin.
New Contract Wins
Awarded a contract for an export dock replacement project in the Pacific Northwest and two projects with the Port of Tampa Bay.
Expansion and Strategic Moves
Opened an office in Phoenix to capitalize on data center investments and relocated headquarters to Central Houston for improved collaboration.