We deliver infrastructure solutions for public and private clients in North
America. We are one of the largest diversified heavy civil contractors and construction
materials producers in the United States. We operate nationwide, serving both
public and private sector clients. Within the public sector, we primarily concentrate
on heavy-civil infrastructure projects, including the construction of streets,
roads, highways, mass transit facilities, airport infrastructure, bridges, trenchless
and underground utilities, power-related facilities, water and wastewater facilities,
utilities, tunnels, dams and other infrastructure-related projects. Within the
private sector, we perform site preparation and infrastructure services for
residential development, energy development, commercial and industrial sites,
and other facilities, as well as provide construction management professional
services.
In addition to business segments, we review our business by operating groups
and by public and private market sectors. Our operating groups are defined as
follows: (i) California; (ii) Northwest, which primarily includes offices in
Alaska, Arizona, Nevada, Utah and Washington; (iii) Heavy Civil, which primarily
includes offices in California, Florida, New York and Texas; and (iv) Kenny,
which primarily includes an office in Illinois. Each of these operating groups
may include financial results from our Construction and Large Project Construction
segments. A project’s results are reported in the operating group that
is responsible for the project, not necessarily the geographic area where the
work is located. In some cases, the operations of an operating group include
the results of work performed outside of that geographic region. Our California
and Northwest operating groups include financial results from our Construction
Materials segment.
Aggregate Materials - We own and lease aggregate reserves and own processing
plants that are vertically integrated into our construction operations. By ensuring
availability of these resources and providing quality products, we believe we
have a competitive advantage in many of our markets, as well as a source of
revenue and earnings from the sale of construction materials to third parties.
Controlled Growth - We intend to grow our business by working on many types
of infrastructure projects, as well as by expanding into new geographic areas
organically and through acquisitions. In addition, our financial strength and
project experience provide us with a competitive advantage, as we focus our
efforts on larger projects.
Core Competency Focus - A core competency is to perform the myriad of tasks
necessary to deliver major infrastructure projects. These projects include the
building of roads, highways, bridges, dams, tunnels, mass transit facilities,
airport and railroad infrastructure, underground utilities, power-related facilities,
water-related facilities, materials management, construction management, staff
augmentation and site preparation. This focus allows us to most effectively
utilize our specialized strengths.
Decentralized Profit Centers - Each of our operating groups is established as
an individual profit center which encourages entrepreneurial activity while
allowing the operating groups to benefit from centralized administrative, operational
expertise and support functions.
Diversification - To mitigate the risks inherent in the construction business
as the result of general economic factors, we pursue projects: (i) in both the
public and private sectors; (ii) in federal, rail, power, water and renewable
energy markets; (iii) for a wide range of customers within each sector (from
the federal government to small municipalities and from large corporations to
individual homeowners); (iv) in diverse geographic markets; (v) that are construction
management/general contractor, design-build and bid-build; (vi) at fixed price,
time and materials, cost reimbursable and fixed unit price; and (vii) of various
sizes, durations and complexity. In addition to pursuing opportunities with
traditional project funding, we continue to evaluate other sources of project
funding (e.g., public and private partnerships).
Employee Development - We believe that our employees are the primary factor
for the successful implementation of our business strategies. Significant resources
are employed to attract, develop and retain extraordinary talent and fully promote
each employee’s capabilities.
Ownership of Construction Equipment - We own a large fleet of well-maintained
heavy construction equipment. The ownership of a large portion of construction
equipment enables us to compete more effectively by ensuring availability of
the equipment at a favorable cost.
Profit-based Incentives - Managers are incentivized with cash compensation and
restricted equity awards, payable upon the attainment of pre-established annual
financial and non-financial metrics.
Selective Bidding - We focus our resources on bidding jobs that meet our selective
bidding criteria, which include analyzing the risk of a potential job relative
to: (i) available personnel to estimate and prepare the proposal as well as
to effectively manage and build the project; (ii) the competitive environment;
(iii) our experience with the type of work and with the owner; (iv) local resources
and partnerships; (v) equipment resources; and (vi) the size, complexity and
expected profitability of the job.
Our operating principles include:
Accident Prevention - We believe pro-active accident prevention is a moral obligation
as well as good business. By identifying and concentrating resources to address
jobsite hazards, we continually strive to eliminate our incident rates and the
costs associated with accidents.
Quality and High Ethical Standards - We believe in the importance of performing
high quality work. Additionally, we believe in maintaining high ethical standards
through an established code of conduct and an effective company-wide compliance
program, while being guided by our Core Values at all times.
Sustainability - Our focus on sustainability encompasses many aspects of how
we conduct ourselves and practice our core values. We believe sustainability
is important to our customers, employees, shareholders, and communities, and
is also a long-term business driver. By focusing on specific initiatives that
address social, environmental and economic challenges, we can minimize risk
and increase our competitive advantage.
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