Strategies for Sustainable Growth and Resilience
Overcoming Inflation & EDGE in Action (Cont'd)
Our decisive actions have resulted in margins inflecting upward
CONTRACTING SERVICES TOTAL BACKLOG ($MM)
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$778
$665
Q1'21
Q1'22
$959
Q1'23
CONSOLIDATED EBITDA MARGIN1
12.2%
9.5%
Q4'20
Q4'21
12.5%
Q4'22
Record Backlog in Q1 2023 and has increased by 23% y/y
with a 2-year CAGR of 20%
Backlog includes execution of our EDGE plan with our
new pricing and targeted bid strategy
The full impact of additional margin tailwinds from repriced
contracting services backlog expected in 2H 2023 - 2024
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Consolidated EBITDA margins have demonstrated strong
upward momentum with Y/Y improvement through 2022-23
Q4 2022 margins were ~30 bps above Q4 2020 levels and
~300 bps higher than Q4 2021
While Q1 is our seasonally low quarter, margins continue to
inflect upwards and were ~130 bps higher in Q1 2023 over
Q1 2022
Further margin tailwinds from our new EDGE pricing and bid strategy
Note: EBITDA, Adj. EBITDA and Cash Flow are non-GAAP measures, see Appendix for reconciliation. 1 As reported EBITDA margins of revenue.
KNIFE RIVER
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