Atlas Technical Consultants (ATCX) 18 May 212021 Q1 Earnings call transcript

Welcome to the Atlas Technical Consultants First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note this conference is being recorded. the to turn Quinn. host, now will conference your over David I Mr. you begin. Quinn, may

for quarter call, of release oneatlas.com. Thank call. our in Investor that joining you first section a posted be that market Please presentation seen found we the the also We of XXXX at you've our can after our earnings this website issued support today. note which hope conference earnings in

forward-looking statements. we our forecasts and today's forward-looking recent include differ with Before future no such uncertainties statements. prospects statements. statements by control. update Please I'd a results. call Commission, goals, reasons, the beliefs, Exchange may remind that business, like publicly assume and any that variety those principal actual of see company's forward-looking the could projections, filings statements beyond many risks that Securities and identify We you These for are plans, begin, of to are Please expectations, the which our our note and anticipated from results to affect describing may our strategies, obligation forward-looking assumptions which

income EBITDA, we're EBITDA addition, including GAAP these of will their today, directly non-GAAP margins, to see most adjusted release EPS. adjusted In comparable financial measure. for we adjusted measures certain providing a reconciliation Please discussing be net our and filings adjusted and non-GAAP measures

Officer I'll on for Chief to we operating business agenda continue our Boyer, our results update. Executive questions. our outlook to Slide on over to will Moving up call Joe Joe will open by the provide of am X. turn discussion Slide financial call I our I an overview today who before the X, the give the and with At this of an joined point, pick up and

to grade discipline to XXXX, on that commitment I'm to David. technical strategy points providing I first our term and continue of to you and strong quality excited their resources pleased customers. to a for to execute a thanks of share our the number you, long start proof with have and services our value create stakeholders. that today am report also focus we our to demonstrate to our Thank

first received a and the XX% revenue quarter, digit in by mid-single XX% EBITDA, nearly growth. driven to For we return growth adjusted increase organic

achievements to York of March, Our New materials increased contribute AEL, In results deliver closed us first profitability the and results plan the of a and in XXXX. of positioned transaction inspection, and full-service strategic mid-April, That these Jersey balance second in exceeded growth firm and markets. announced testing, beginning New the and and will the and for in engineering acquisitions year quarter beyond. our we quarter the to

capital position capital to increase Atlas deliver to we completed transformative our As that has the The sheet you this primary committed structure our of our loss, improved technical management team the excellence structure, cross balance focus the enables all utilize and in sell been financing our platform flow, support to long strength more to of clients. bar a for to growth. acquisitive our recapitalization reduced dramatically in term optimize order new expand work, free us self-performance and growth. company cash provided to simplifies organization a the know, and our In February, of recapitalization fully services, geographies, of

success our every the foundation stronger of that making company are our are people Our day.

well our achieving in markets the coming we encouraged projects pipeline, continue market We win our as our are the to access as are as bidding rates, to by and end contracts in increase and strengthen.

the trend expansion and foreseeable business new project drive the of higher to size future. and for volume the both our expect of We wins the

infrastructure and the excited about in pursuing particularly areas. opportunities the transportation are environmental, are we We

an example show On an X, the services. right of impactful, design environmental of side sustainable engineering project array and involving an we our Slide of

solutions Our position objectives. long-term for particularly clients, sustainability as their offer to our well to capabilities

develop helping quality innovate their mitigate that are to and them enhance solutions We identify and technical of environmental their assets. with associated the them with risks operations,

X, Moving to please. Slide

a A, synergies of revenue $XXX to COVID The highlights. take capabilities they during quarter now look conditions fueled growth ability So in our adverse in expansion across us despite and quarter. at whole X% related the in factors how organic also and including this platform. XX% delivered accomplish our to core perform for certain from We our pleased with typical total gross We by the were the objectives positioned quarter and expanded the business revenue results markets, first first cross core by positive growth, to our our by year. resiliency of markets of weather Texas, evidenced selling continues impact be continued million,

business, efficiently seen in the areas While challenges materials, including liners, building and business, shortages our to in recently execute But impacts, are and pandemic logistical we’ve fuel. related cases together and see safely. our our working despite in certain a reduction material more COVID present to these landfill of continues teams

on performance towards to party to more of vendors. while our services work of Our approximately third demonstrate XX% net self-performance shift customers through of an provided revenue at gross continues reducing our expansion revenues reliance

our the of XX.X% M&A key Northeast exemplified piece $XX.X the than Our testing continues in QX services the strategy, of and broadens AEL million This stronger XXXX. also growth came to reach our of by region acquisition recent be our inspection of country. acquisition. in adjusted a of EBITDA

confident AEL positioning M&A us us our which surpass to expanded will closing will capability revenue to business robust, afford of in earnings ahead new acquired deals annualized We the accretive the remains fundamental us to an The to accelerate be are is pipeline that and to XXXX. deleveraging strategy. as

across service the or and contribute X. approximately call followed what line our point revenues comprised as performance then service XX% Now, program please is to services margin to of certification I PCQM. quarter, similar. these lines have levels. testing, of services finally, construction TIC And our and management, our and quality would by major each the environmental, category inspection Slide turn and inspection revenues, lines, we Internally, engineering with characterize gross gross in relatively testing, by or In of certification largest first four design. out closely XXXX the we we then like

and continued service Our strength of represents be prior private in public to tighten independent markets. verification these resources. and priority services as line to the We air with materials TIC of markets their our ESG as in field our and XX% and sector business services provide volume, and all increased sustainability methods, building of sciences. including as services current vital of growth such Atlas, tailwinds of services anticipated remediation, both the compliance protecting building administration, the and design line as policy as Also, site our from environmental year of clients top well with a assessment, addition interest communities and third-party new codes the results, a demand associated with for quality, further construction with end and from

will we large sustainability opportunities expanding this business expand confident building component seeing our via our of we pipeline. new in and are We are ESG and

our contributed offering PCQM service XX% Our of gross revenues. approximately

services. announced the This as partly accelerate state category project opportunity to number DoT's We professional continued have reduced this outsource due year to states flow recently transportation last during work. wins as using to COVID traffic service in line grew an of

policy a states private to to infrastructure, with positive to We the continue continued the find potential creative example, upside anticipate tailwinds for see business would naturally partnerships We these in federal further momentum as ways fund of related growth to continue areas here as upward, passing bill. outsourcing public in follow continues of to tolls. trend infrastructure possible that

engineering for business full of our Our to to year compared grew the revenues, XXXX. design XX% proportionately gross XX%

outsourcing private design positioned previously terms in that to to fundamentals work. XXXX. federal quality assurance delayed work benefit both Recall mentioned, market our funding. services Across from of Northern stimulus of from sector and our For and in in York related same benefit of improvement were broad in is services, ENV sector the government portions private lines, New reasons significant business infrastructure any California base continue our and we're seeing

continued in regions. a recovery see to these pleased are we So,

work, most our business. Our aspects government our as namely professional for to services and continue momentum infrastructure gaining dependable mission critical be of the of highways base is demand one

some are However, impacts. project as in couple states, start minor budget delays, experiencing as well a we

also investments creative to infrastructure stimulus. finding a of support ways the states without or see and We federal prioritizing with to continue fund projects

Now let Slide me backlog on and our new address awards X please.

This that for of service driving This in common the longer celebrate emphasize the includes year TIC the risk by is above the a profile therefore First which term. of XX all regions, contracts is and expected by services as million our to and which quarter backlog even and to are another from with are to closely those to services more note just business our strategy meaningful of regions, Central we we major across growth. $X geographies. environmental is more yet in the currently. better are West PCQM to we This $XXX selling It our size grow major book from those backlog are contracts we invigorated our to in from lower increased ago in with have scope how and and our for increasing and we our strategy. defined to and the and cross Northeast that is practices seeing regions all updated of success grew record to increase synergy projects awards Large built in lines The our acquisition. frequency would time projects, across project reflect regions. consistent important industry. generate We expect of continue XX and Central calculation relative million of to point revenue service wins and opportunities, Southeast the average revenue continue value precursor Southeast lines and a match all large we materials, our

mention project believe backlog size, scope of full only opportunity. large our I backlog the executed updated maintains our each wins the including practice our methodology project also in captures of multiyear projections contracts. have we will better fully increased that for As

methodology, sequentially compatibility, guidance from of is from our impact increased important Any $XXX passage existing outlook. from million, the our potential proposed want this infrastructure federal this guidance package to proposed million this of better On our positioned For we legislation. assume under how bill. incremental Atlas longer-term entirely benefit highlight up quarter XXXX. backlog first to to to $XXX remind Slide no at would record and from end this prior the the you, I be is in and to we X,

half in finally and water shown sides, utilities. followed markets contemplated the addressable as bill by the the Atlas, education, being roughly with by spending and of biggest, on transportation would and So be housing

governments to these forward You our each to look passed. provide. with event categories the bill state services see local in We provide in we areas can this under the and these working federal, of is services

As you CAGR our X, with the resulted and can top are guidance of plan behind solid XX% since April see a execution XXXX. of drivers for approximately increased growth revenue the XXXX, on along the growth of Slide in addition organic AEL in our line has

XX success This deleveraging Slide LONG example one-year for business from anniversary have acquisitions company we acquisitions compliance. that to level synergies. helping our acquisition with the And of Vista, Test, and the of turning recent to as West growth. The Atlas of and AEL. furthered incremental mid-February our Atlas, a engineering we LONG to them looking which the meet acquisition ESG value to on Alta Now a M&A, path this briefly is of convert eventually selling our good in its I'd an through clients year. goal derived revenue into This of example, accretive accelerate increased more our at growth integrate of how like we're cross replicate highlight LONG and acquisition marked

I'll Texas Some Carolinas. collaborative work turn In very from increase balance our as across year. team the our summary, work have this of new to first have the pleased Transportation, projects this I'm in additional of actions the that Departments to and how Georgia include resulted Alabama, outlook well With and as David positioned Virginia the with please. us of the quarter, of and for with our that, the projects results

good Thanks, everyone. Joe. Please XX. afternoon, to turn Slide And

for address or our impact to this issued results. by I comments year, Before liabilities. a of wanted warrants about have equity current from the to accounting of which the SEC’s will and issued results discuss I no recent statement considerations our for quarter, In future SPAC regarding on reclassification the April SEC SPAC, warrants reporting the

’XX our be that Q. Given summary financials of is of for first our the periods completed A or to the of to stock moving of of related our we found detailed our common in historical warrants quarter this the exchange expected can in XXX% XXXX, impacts for more no there of assessment forward. November XX

operations, to to of of Now returning see we are and making the quarters. design in to revenue, across first up early seasonality the staff from project In field this, the EBITDA or prior Adjusted higher XX% season qualified and opportunities offset as strategy million revenues, inherent just in ahead of return of up of revenue pressure cross have this sell were country, down some expanded primary revenue approximately period, quarter and of the our spring strong resources year driven internal XX.X% million XX.X% to Due we and of quarter, the all we the perform XX% Like the feeling continuing as up and begins expedite second the and seasonally to contributions quarter, improvements our resource to in intensive revenue recruiting year overall was to are up. the we the converting costs was scarcity. quarter, some results. more approximately In driver showing engineering gross line by portfolio. sell was of attributed project the and from XX.X% levels in hiring the which revenues recent and program of represented than prior acquisitions. EBITDA and as to first response larger larger in third of our and our Growth $XXX.X work. of compared answering add our modestly benefit $XXX.X million necessary $XX.X net utilization Net many gross reflect our our the from in represented businesses discussion our lines, growth, impacts both the year XX% team and impact organic strongest to execution service the ramp quarter. our prior candidates. execution partly Higher mix services but of

produce as net income share. For of the per adjusted of we earnings share recapitalization per as $XX.X related share income per to Adjusted non-recurring amortization costs. impact the first items, quarter of net XXXX, of intangibles of and excluded the adjusted costs, costs other well and earnings acquisitions, million $X.XX transaction and

exchange I'm that picture business us. their clearer a our costs of earnings company very know more associated recapitalization pleased and are Slide to behind better operating full earnings transaction anticipate XXXX public offer XX. the remainder underlying generating provides flow this the income sheet to net underlying recap our for momentum, formation, the cash structure and cash the At adjusted While the now balance with on formation, we will I'll We our Atlas. of therefore XXXX point, reflect year improvements made power into fundamental of and capital

we sheet. As previously completed balance of announced, February, in our recapitalization significant

under M&A. strategic expansion $XXX have proceeds to borrowings growth to is and and units goal simpler organic balance our outstanding our the Our fully deleveraging transformation both of of transactions loan, they our the through sheet to several million accomplish structure First, achieved a the prior at using our repay We through actions better objectives capital support all balance simplified following: par. dramatically term equity preferred redeeming sheet. These outstanding this

by our points. on we debt interest aggregate lowered Second, approximately XXX basis rate

positioned through million. two the projected higher with M&A over runs organic deleveraging and cash to total million the extended initial are combination cash. operating We the that over higher have our now expanding growth previous our on of two income. execute roughly noting it on given our increased our XXXX. reduce And XXXX. outlays impact to cash next base through by flow, reported to access wall years last is by and to shift $XXX expected stock Atlas worth anticipated net leverage did whereas growth, to dividend believe on we from will expense The maturity now better capital years EBITDA $XX structure, And a not not interest dividends is we preferred debt least, saves but to we under years. expense, net interest Third, average liquidity This two preferred recapitalization, weighted

important what However, going reported our this the shares B Class in our softest shareholders. shares we've debt it aligned pleased equity, to how returns to of provided of or preferred Class XXXX, which our is intensive for of The cost and with deleveraging business up higher and to from will shares year our flow Class modest resources our field was as we voluntary know change recharge over advance our our quarter were end during elimination our is A further of of operations and quarters. shares, refinancing even roughly XX% cash the is million the A to We expanded to generate Since outstanding. be delivering conversion in of total ramp goal forward. seasonal public XX stronger typically

public expect strongest company the we for continue cash three normal cleaner our behind with With In a move With reduction more third full generation. of improving further our cadence a turn quarters goal we leverage. focus will ends to typical our net prioritizing transaction us, see times net the as of in this, and business, expect fourth our the sheet, XXXX, quarters ratio forward. on achieve we and balance being generation of of cash and the seasonality be below in our reducing to line a longer-term leverage and we

adjusted to and four-week move Slide be prior compatibility for change guidance outlook this on XX. XXX of provides $XXX from Schedule will efficiency be the change the up our in now range backlog not calendar year local AEL we $XX five-week million, $XXX out results. continue the We April, adjusted that moving as work to range of to of to to in and million way, adjusted that. in months as XXXX our we updated This end comparisons will reflects million. year full the the and into to last improved which full Moving the I efficiencies, be year, $XXX increased you million remind of XX% to strength addition million a $XX by raising month. to This range that two and compared Records to and driven be current our of at XXXX in administrative forward. a a calendar of will continue year revenue divides $XX I'm of our our economies outlook the communicate range for that grouped operating visibility year improve. previous The of XXXX. $XXX at million million to anticipate $XX full me for our the are the of operational the XXXX of This to EBITDA timing as well the from previous on our same by on management. shown EBITDA the vigilant quarterly into XXX cost the one year performance to midpoint to let to continued increase With pleased changed applies million factors,

the XX. continue for flow expect we to Joe in you. Slide I'll now turn XXXX. to Thank cash call addition, In And on remarks closing operating back improved

you, thank David. Great,

We has how are performed a proud of becoming public since Atlas company.

validate we business successful synergies. revenue adapt, steam model believe performance environments. organic our in another and to be leadership continues strength all and resilient growth quarter as gaining and our efforts delivered grow the are scale of in results team market We solid business our QX to Our in

unrelenting commitment growing and momentum strong performance organization, XXXX balance extremely and gives sheet. year power growth, recovery, and to and all the to of to our the for our this to remain infrastructure and safety continuing in deliver believe economic rapidly I positive the capitalize positioned nation's us ability look investment. continued firmly forward well beyond. that to on earnings we full national confidence commitment Our execution particularly by margin I our deleveraging continuing

us. for again Operator, up can joining for please. So we open lines thank Q&A the now you

conducting a this At will [Operator we question-and-answer time, Instructions]. you. be session. Thank

D.A. with first question Our proceed your with question. from Davidson. is Please Brent Thielmann

Good year. Great, start Congrats a on evening. the to thanks. good

Thanks, Brent. Appreciate that.

first obviously guess the on the year, around thoughts AEL I you to Yeah, just the in question, the have start guidance. raise Early the contributions.

how how to wanted much optimistic to related just is for and much a Just reflects get more that, the sense outlook really business?

related a me sort acquisitions bolt financials on our not scale a firm. give it's about the of XXX-person practice on disclose slide. Yeah, details to specific Brent, business so to for sense To of is

equity, you the relative far an we volume a at me give If our look little you appreciation to guide. let Well, what do. of the the won't just currently more they off too was be driving from generate of what thinking business’s

organic So first a all, we first in delivered better-than-expected of growth the level quarter.

last related in capabilities we're transportation full said, federal, opportunities environmental really our as with expected our recommence we of think government X% increased also investments. from of of to in the local state confident the first positioned we were XXXX, backlog expected organic relative delivered quarter solutions expanding our that. time that, the the business. that through mention infrastructure pierce putting particularly we're evaluated I'd timing work benefit And think in to we and our also to I we're and so to well seeing infrastructure market. so, We we about suite resilience outside growth spoke the we you take them and thoroughly,

of included to stimulus haven't the We've provided. April quick join revenue contribution as we they're platform. However, did your we're deliver them in build to in got And we that they of AEL. dollars guidance in we the that course, done the lastly, calling going any synergies and point,

impacted this growth environmental been had COVID And maybe the COVID units business love that more And then Okay, of the that think of and X% today. protocols, that a very the little maybe I services where by piece color since more the sort I regions of then quarter. driving on organic good. business

on really pre-COVID movement that. pent-up. was operating Yeah, model so we're experiment, a a momentum based to it seeing That's just back solid natural so

sciences just harder as seen COVID. I across which a board, really and well across a the increase synergies for revenue that We've environmental company of one mention We business, at seeing businesses. our strategy of And the platform. we the really also building the rebound that are hit took with was prove would the are out the the nice benefit outset of seeing in of gradual our components a

selections contracts, We and are second will larger going larger bet magnitude recent we're think projects move will that the this And The we win And further these real some we and programs. pursuing securing and really programs. that, on third the projects contracts of evidenced, and quarter. underlying we value have of in. as be companies I high of is cement synergies confidence the further we bringing to through

to Brent, me a couple Joe. this things let add that, is

think sustainability, working development engineering, few Georgia, of in Twin type have and fair of say that on renewables are work, Farm. services, and administrations on early out called to we both and now inspection the site on, renewables solar that some engineering larger it's Solar civil projects the southeast, a that push a come through I particularly fields, really projects in one

So basically, hadn't that into backlog previously. we renewables the had our getting

move I one And to around few interesting. last if through any inflationary a there, your the in that's implications year? maybe maybe Okay, thoughts the some the pressures on and just costs, comments opening just margins, just maybe the would commentary be, out caught

to people seeing the door. get start securing bit on in we So, a to increased definitely It talent pressure changed more with, are recently. quite

to and for the to in-house up as our in to talent and Our double wrapping this have the We right our projects, relative to recruiters, this. securing response intensive believe we're of advance identify we field season. been growing do has an additive particularly

projects. and company, sets and on dealing types I we're to technical attracted culture things. when student data focused inside these with the the As they’re a was growth very and talent, of And,

probably going this things promote. is I But to Joe, So, couple to you continue think add. have a what to we're

are pressures seen since time a the particularly, while Brent, I’ve that So, really, level position. technician a we is first really experiencing in around wages, on

worlds, the cost majority that than contracts paid to and our materials attract contracts been of technician of all Remind reimbursable. the been trying and you have past impact. we more bit level find seen coming in are that corporate and So, out first absolutely are a having

might term, cost-of-living get we annual a short margins, our although little you typically adjusted We contracts on of increase, So, will, an our if labor. tighter see just basis. get bit on a on that

So, we’ll up time. over pick that

term But being I our that locate the long see to to a being the are short don’t we the think longer and recruiters past. issue. said, than it’s able a talent in stay little

great. taking you for Well, Okay, thank question. the

Thank you.

Our Dilts your with question is Noelle next with Stifel. question. Please from proceed

that for the chain thinking sure -- might construction, my material and And And but of about call, if things right things good on quarter. these Hi, we’re comment kind model, raw little plus, costs, question. and the bit about on in their just push and the projects if think availability, the they of a also guys, thanks about if Earlier you’re congrats higher in can I how of taking impact timing -- a aspect that understand mentioned, you I Earlier supply things? to thanks. lot hearing could the a you cost Again, challenges. some within obviously. understanding your and

are shortages expected and it material to about And filled on been going our we directly seeing issues, which landfill are to the do materials, delayed to still CQA what he liners, or giving be quarter so a shortage pretty Midwest, as supply which example we our on Noelle, some sites, I’m and But might us outside in a to Absolutely. projects. the is line month. much those what not But an have those delays. increase our recently experiencing second at is of are project of of inspects we inspections products us. labor the so. another revenue is QA hit in impacting we ladders, right there fuel our costs significant cost has us wires. get now, back And

impacted that’s other client So facing. costs. the the us are issues really as we’re materials one of driven Obviously,

project and the I a haven’t seen we for postponed right to delay, say the delays just So, would right significant continuation. into

Okay thank you. And…

actually say availability little to we’re we’re thing longer just we’re me defined a as and our a of facing, and I with on lot we more issues dealing trust hanging with the receive, is trust obviously SaaS, so had that are Let well. we but planned, bit one felt microchips than

that most about really great, from infrastructure business the of then to you new is, mentioned that bill. your build. But amount this a an your impacting that think units to maintenance and know benefit of as recurring, given of kind really fair helpful. And tied would work Okay, XX% I more

on where think color would be to the would about going to the how size be think and additional company helpful, thanks. to any about benefit kind the Just most of

I don’t our would guidance. have think pleased infrastructure but Sure, lot bill to of the overdue, lot first of to infrastructure. the David there, say, that, general, do we It’s see all, I bill. a think I’m in mentioned in long would of our improve nation’s any we I a involve out

suited We is going is it, do aligned, it miles already investments those huge into significant of inspections our because which well for our in day, of transportation, completely We’re in every They roads single services the doing wheelhouse. and are XX,XXX number. amount a and we’re revamp the bridges.

right ports working we’re now of So, talking airports. and well. upgrades it’s also as about And

at really, we’re education, them. building and group as sciences are strong that’s and going housing an helps our we well. pass licensed again, When area in they So, as and billion $XXX to that’s

wheelhouse our our clients think as area completely think another in well. help of it’s as areas we those in strength. I And we can So, it’s that

environmental, anything third to about through really Atlas So, that well. of business our fortunately that as half of than right, we services. as strong it Hopefully, see that accessible course, less a comes of is bill is

Right.

I we’ve know before, the in but any guidance so great. for all kind how you’re of that’s give capital how the us this any expecting of year? shake changes given And guidance out you the to about can on then, expense structure, talked on interest Okay,

I’m sorry, how we’re expecting what?

expense. Interest

somewhere for full end for million $XX interest when the Yeah, million year running for expense. will deferred around financing we off, up the excluding being be say year. -- year Interest $XX expense the will

Thanks perfect. Okay, much. very

you. Thank

proceed Markets. Capital your Our from Brown next question with is Lake with Rob question. Street Please

for quarter. congratulations the my and Good afternoon,

you, Rob. that. Appreciate Thank

on M&A of sort at, in the you of the question you’re acquisitions types and the terms the of of first us characterize Could looking the in pipeline, of you’re The companies maybe is M&A. sectors size the looking kind pipeline? at help

the off to just let with. pipeline so me say that Sure, start characterizing

strong, exceptionally it seen biggest we We’re I’ve bit, started. -- since probably it’s the

anywhere choir services services $X think, mentioned typical right from, substantial the There’s the all of more we’re becoming say much into in wouldn’t -- which we’ve is seen are that to of in firms structure environmental. of million And the the still regarding to I choice, a perform, we’re more spot are looking acquisitions sweet set range. higher I in firms size the of as those that the EBITDA a that are that are I past. a

our meet technical do still an M&A in pipeline. is of it’s to thing pipeline for they permitting They’re that still have one culture. model our departments capabilities match being the think I cash the a in goals. in that note attractive in model we’re performance have our excellent our the stocks, And have

very, looking important regards we’re that. So, in for very to what

slight than out is, lot higher. that in the a services past. we’ve lot I hasn’t there a one that, and within noticed the the been in the of a the is in particularly multiples, transportation have I think space year, in I think model change success space increase slightly -- Other in last that thing the laid

new So, with we expanded capital AEL, our in Rob, in the just structure. capital, secured our

our realized that to of expect We and in really able contributions acquisition exceed we have to a lot activity be XXXX.

great, you. Okay, thank

you’re and you of but the David little Is or cross-selling size your I really on on bit just some talked that about it size projects they’re bit having or winning? a potentially the talked to little driving increased about just the market bidding what’s want volume things it? dig and in a more pipeline actually activity, So, projects understand your of bigger the

are both. there’s with more are clearly budget are projects that consortium a that Robert, in say I’d picking PX, There type projects more are large increased. -- of So, transportation type more space, the

as add our width as platform, the our capabilities. to the in depth our we of and we’ve As capabilities, service well technical firms increased

of to still are still forget, So send it’s to more had We’ve larger pursue not services to and of aren’t taking which again, a fit lot And riskier. and fit to a but strategy more that year, Don’t enough projects, us this receiving low-risk space. firms always that space on They constructions. squarely not we tremendous time technical the of in service in out do have capabilities we’re model, perform and materials. in their our that. course,

project. still risk it’s a lower So,

see several of So that every would we those And them be larger. year. opportunities

it turn I’ll you. over. Thank great. Okay,

you. Thank

Please your Thompson from question Thompson final with proceed with Group. question Our Research is Kathryn

in fitting today. for Thanks

We’ve But you’re a there’s and So types talked lot XX answered, this clarification backlogs So, more on Thank ago? but color in just other months or versus a have months questions points, the went the the of giving step different in is XX back, look, mix geographies. you XX change ago? into backlogs. already on today if to how of backlogs size versus words, going but about been different and you. to projects, of different few XX,

is This Dave and Kathryn. that. Thanks sure. Yeah, I’ll take

I really platform looking hasn’t capabilities mix. have that that, and the programs. probably bigger in of of we’re based our design, surprisingly and COVID. say and will I again, And strong opportunities, the change increased engineering not projects on after go expansion seen platform, a mention our the positioned better we’re at much in them. we as the result, reach, winning PCQM transportation, an there to as a back been our would So, through related huge uptick proving infrastructure, the

large pick to a the contract I from a ago in year at current backlog, increase a seen XX, project, time. is XX if us. an portfolio, So, $X and We’ve number million just our portfolio at we’ve contract a said for this look

that we’ve market contracts win portfolio. the of and So, bid, and to into been our bring in able increase the magnitude projects

say guess been growth organic on Okay, a that, quarter, driving is that, you the and follow previously? to X% better I in would of than magnitude a which that primary had force the some the is

you part quarter, the to again, over XX% over backlog capacity we grew it to and like and XX.X%. following -- to year way XX% increase course, our our But to that growth at if going our good very have quarter feel is we certainly, on ability the a if revenue quarter. contracts, in of the the Again, we go X% that EBITDA XXXX. at And looking to through projecting long-term it’s reassessing refresh X% if growth. full out at probably at mid the this right. actually balance look year so, Well, And revenue minute contributes you propel X about over that, organic actually of the it year. quarter made, we’re And revenue, under we’re look think EBITDA, only you I for at our EBITDA the of it, not of projection being

pleased really over momentum, in the the terms year and are seeing progress business. we year So, we’re of

Okay. And Yeah. question. final

levels, the was we COVID spoke of last when So, activity your in the back exception with services largely to of Environmental restriction. because Building the lockdown pre-COVID Northeast Science

needs that chance in see Or changes is due environment, muted now. still the COVID a back from no to are that’ll work at trending be labor And constraints Given that that completed? above levels pre some the to palettes rebound there of level? keep a you’ll and we postpone

Kathy Joe. this is

much that that building the say some enough held XX% to, and in is our of you’re because say levels, referring to before now it handout would Northeast live order task capacity. the related would us wage So, progress. schools to that clients so funding really or but still right funding to in technical work so I if are sizes to complete XX% likely Not I issues up

the from would And building And So, well, relates out quarter. is it I issues. think, say growth I anything going at sciences, least we’re to lastly next in in education the to sometime that we sector bill COVID regards get really anticipate do our code hoping that as with and up to sciences related likely would it look second. building benefit to come to that might levels

Okay, quarter. great. Thanks and much, very good

Thank you, Thank you. Kathryn.

Thank reached closing of end now I remarks. over we turn have call Boyer the Joe you. the Ladies and will the gentlemen, to session. for question-and-answer

look our thank to Thank for Atlas progress you today. very We updating I much. joining appreciate in want us you support you future. the your everybody forward to and on of

thank So, you.

conference. This today's concludes

Have Thank at you your this disconnect time. day. lines your participation. a for great may You