Reports Q3 revenue $593.7M, consensus $613.63M. “In Q3 we delivered 6% revenue growth and a remarkable 56% increase in diluted EPS. Our focus on margin expansion continues to drive profitability growth well in excess of revenue growth. Gross profit margins of 21.9% marked a new record, and we continue to look for opportunities to drive further expansion,” stated CEO Joe Cutillo. “We closed Q3 with combined backlog of $2.37B, which was in line with prior year levels. What the backlog metrics do not capture is that our business has moved toward large, multi-phase projects. As a result, we have built a pipeline of high probability future phase work that now totals over half a billion dollars. Our operating cash flow generation in the quarter was again excellent at $152M, driving our net cash position to $326M, and supporting share repurchases of $20M in the quarter. Our business is performing very well and we feel great about the opportunities ahead.”
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