Welcome to Suncrete's second quarter 2026 earnings conference call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I would now like to turn the call over to your host, Mr. Rick Black, with investor relations. Thank you. You may begin. Thank you, operator, and good morning, everyone. We appreciate you joining us for the Suncrete conference call to review second quarter 2026 results. This call is also being webcast, and it can be accessed through the audio link on the Events and Presentations page of the investor relations section of suncrete.com. Information recorded on this call speaks only as of today, August 14, 2026. Please be advised that any time-sensitive information may no longer be accurate as of the date of any replay listening or transcript reading. I would also like to remind you that the statements made in today's discussion that are not historical facts, including statements of expectations or future events or future financial performance, are forward-looking statements made pursuant to the safe harbor provision for the Private Securities Litigation Reform Act of 1995. We will be making forward-looking statements as part of today's call that, by their nature, are uncertain and outside of the company's control. Actual results may differ materially. Please refer to our earnings press release for our disclosures on forward-looking statements. These factors, as well as other risks and uncertainties, are described in detail in the company's filings with the Securities and Exchange Commission. Management will also refer to non-GAAP measures, including adjusted EBITDA and adjusted EBITDA margin, as well as supplemental adjusted EBITDA. Reconciliations to the nearest GAAP measures can be found at the end of today's earnings release. Suncrete assumes no obligation to publicly update or revise any forward-looking statements. I would like to turn the call over to Suncrete's CEO, Randall Edgar. Randall? Thank you, Rick, and good morning, everyone. We appreciate you all joining today's call. With me this morning are Tommy Wentroth, our Chief Financial Officer, and Ned Fleming, our Executive Chairman, along with other members of our management team. I will begin today's call by providing an overview of our second quarter operations and discussing our active M&A pace. I will then turn the call over for Tommy to provide second quarter financial highlights and review our 2026 outlook. Then Ned will provide additional strategic comments before turning the call over for questions. I would like to start today by thanking our more than 1,100 employees across the Suncrete organization for their continued commitment, dedication, and customer-first focus. At its core, this is a people business, and our success begins with the strength of our culture and the talented teams serving our customers every day. We believe our people and culture are fundamental to our ability to consistently execute, to grow our business, and create long-term value. The second quarter marked significant year-over-year revenue growth, including organic growth of approximately 9%, reflecting strong execution across our organization. Despite unusually wet weather across much of our footprint during the quarter, demand throughout our markets remained strong. We also maintained a highly active pace of M&A, adding five new companies to the Suncrete platform in the first 60 days after becoming a public company. Our teams are making strong progress integrating these businesses and are executing market-specific improvement plans focused on driving growth, capturing cost and operating efficiencies, and expanding profitability. Supported by favorable demand fundamentals across our footprint, including infrastructure investment, population and economic growth, and healthy commercial and residential construction activity, we remain confident in maintaining our 2026 guidance. Now, let's discuss our growth strategy. The second quarter was a transformative period for our business. In the quarter, we made significant progress executing our acquisition strategy, completing five acquisitions that expanded our ready-mix concrete and concrete products platform to now include six states across the Sun Belt. We established a new platform in Texas and Louisiana through the acquisition of Hope Concrete, followed by the acquisition of Nelson Bros., which further strengthens our position in North Texas. We also expanded our geographic reach further into Arkansas, Louisiana, Missouri, and Mississippi through the acquisition of ABC Block Company, a leading supplier of concrete products headquartered in Little Rock, Arkansas. In addition, we folded in two bolt-on acquisitions, expanding our presence in Louisiana. These acquisitions demonstrated the scalability of our model and the skill and strength of our organization, building a leading ready-mix network through the acquisition and integration of best-in-market local operators. These new markets represent highly attractive long-term growth opportunities, and we will continue expanding our presence in the region. Combined, these acquisitions expanded our capabilities in local markets by adding 31 ready-mix plants, 279 mixer trucks, and eight concrete production plants. Integrating five companies in a relatively short period of time is a significant undertaking, but it is also an important part of building and scaling the Suncrete platform. While we are still early in the integration process with several of these companies, we are progressing well and remain confident in our ability to achieve our performance targets. As we previously discussed, our integration strategy is designed to bring the margins of acquired businesses in line with Suncrete's historic margins within 9- 18 months following the acquisition. Of the five businesses currently being integrated, three are tracking toward the earlier end of that time frame, while two are working through challenging markets that might take a bit longer. For example, our acquisition in Oklahoma City in October is already achieving margins consistent with Suncrete, up considerably from its margin profile at the time of the acquisition. In North Texas, the broader market remains a more challenging operating environment, which is consistent with our expectations when we entered the market. We have a clear improvement plan in place and remain confident in the long-term opportunity and our ability to improve performance over time. Across all of our acquired businesses, we are making steady progress implementing the Suncrete operating model, with initiatives focusing on purchasing, pricing discipline, fleet and logistics optimization, and overall operational execution. These efforts will drive continued margin improvement while positioning these businesses for sustainable long-term growth. At the same time, our acquisition pipeline continues to expand, providing additional opportunities to build scale in our existing markets and enter attractive new geographies. Turning now to the construction demand and activity we see throughout our markets. The commercial environment remains strong with new construction projects spanning a broad range of customers from mid-sized projects for shopping strips and retail establishments to larger facilities for manufacturing, warehouses, and distribution centers. In addition, AI data centers are certainly a fast-growing end market across the region. We are currently participating in several data center projects and expect to see sustained activity in that sector. As a trusted, reliable, and scaled operating platform to our customers in the region, we are well positioned to compete and win in this space. It is estimated 70% or more of the new data center construction nationally is expected to occur in the Sun Belt states. Due to our existing relationships with national and regional contractors and our ability to execute large and complex pours, we believe we are well positioned to gain share in the sector. Before turning the call over to Tommy, I want to state that we are proud of the platform we continue to build, and we are excited about our growth opportunities. The combination of resilient demand, disciplined operational execution, and a customer-first culture has continually driven our growth since our inception, with approximately 20% annual growth and consistently strong margins across many different markets. To capitalize on this opportunity, our growth strategy is centered on three primary objectives, gaining strength in our existing markets, driving organic growth, and expanding into attractive new markets through disciplined, accretive acquisitions. Central to this strategy is partnering with high-quality local operators and providing them with the scale, resources, the purchasing power, and operational support of Suncrete while preserving the local leadership and customer relations that made those businesses successful. We believe this combination of local entrepreneurship and the benefit of a scaled company provides a repeatable model for profitable growth. I'd now like to turn the call over to Tommy. Thank you, Randall, and good morning, everyone. Reviewing our second quarter results and key financial metrics. Revenue in the second quarter was $97.2 million, an increase of 146% compared to the same quarter last year. Net loss in the second quarter was $37.1 million, compared to the net loss in the same quarter last year of $325,000. In the second quarter of 2026, net loss included a $26.9 million non-cash one-time charge related to de-SPAC. Adjusted EBITDA in the second quarter was $13.5 million, compared to $7 million in the same quarter last year. Supplemental adjusted EBITDA in the second quarter was $14.6 million, an increase of approximately 90% compared to the same quarter last year. You can find GAAP and non-GAAP reconciliations of net income and adjusted EBITDA and supplemental adjusted EBITDA financial measures at the end of today's earnings release. Turning now to the balance sheet as of June 30th, we had total liquidity of approximately $51.1 million, consisting of $28.6 million of cash equivalents, and $22.5 million available capacity under our revolving loan facilities. Additionally, in the second quarter, we completed the fifth amendment to our credit agreement, which provides an incremental $175 million delayed draw term loan with a $100 million accordion and doubled our revolver capacity to $50 million, along with increasing capital flexibility, enabling us to streamline deal execution. This provides the business with ample, flexible, and efficient capital for growth. In the second quarter, cash used in operating activities was approximately $19.6 million. The negative cash flow during the quarter resulted from the combination of elevated SG&A expenses stemming from the inclusion of acquired operations, increased overall headcount, and various acquisition-related costs associated with five deals we closed during the second quarter. We continue to expect to convert 60%-70% of EBITDA to cash flow from operations in 2026. Turning now to our outlook. Today, we are maintaining our outlook for 2026 that reflects management's current expectations for organic growth and project execution across its core markets and includes the expected contribution of recent acquisitions, including Hope Concrete, Nelson Bros., and ABC Block Company, following the close of such acquisitions in the company's second quarter. This guidance is based on current economic conditions and assumes no significant changes in the overall economy or other conditions in the Sun Belt region. The guidance does not include the potential contribution of any future acquisitions. The ranges are: revenue in the range of $420 million-$480 million, income in the range of a net loss of $4 million to net income of $20 million, as adjusted for the one-time non-cash accounting charge in the second quarter. Adjusted EBITDA in the range of $68 million-$93 million. Supplemental adjusted EBITDA in the range of $71 million-$96 million. With that, I'd like to turn the call over to our Executive Chairman, Ned Fleming. Ned? Thank you, Tommy. Welcome, everyone, and thank you for joining us today. Randall, Tommy, Mark Jones, and the entire Suncrete team have been extremely busy executing a disciplined growth strategy. As Randall discussed, we completed five acquisitions during the quarter and remain actively engaged with several additional prospective sellers. We have built a deep and experienced leadership team that understands the ready-mix business at a very high level, from sand and rock and cement to finished product. We are proven operators with a relentless focus on customer service, operational excellence, and disciplined growth. Just as importantly, Randall recognized early the opportunity to build a scaled platform in a highly fragmented industry. Suncrete is strategically, financially, and organizationally positioned to capitalize on the long-term growth across the Sun Belt. Suncrete occupies a highly differentiated position within the ready-mix industry. Many privately owned operators navigating generational transitions and seeking greater scale and operational resources are looking for trusted acquirers. This dynamic creates a significant opportunity for Suncrete to be the acquirer of choice for high-quality local operators seeking a long-term partner that values their people, entrepreneurial culture, customer relationships, and local market expertise. Our scalable operating platform situates us to drive continued market share gains through a combination of organic growth and strategic acquisitions. Central to our approach is partnering with high-quality local operators and providing them with the scale, resources, and support of the broader Suncrete organization while preserving the entrepreneurial culture, local leadership, and customer relationships that made those businesses successful. Our strategy is straightforward and highly disciplined. Build strong local market positions, partner with exceptional operators, maintain operational excellence, and leverage the advantages of scale across a broader platform. Because ready-mix concrete is fundamentally a local business, density, logistics, customer service, and operational execution matter. Our decentralized operating model, combined with centralized operational support and financial resources, creates a meaningful competitive advantage. As Suncrete continues to scale, the company's increased market density, purchasing power, fleet utilization, and operating efficiencies provide meaningful opportunities to enhance profitability and generate attractive returns on invested capital. Looking ahead, we continue to see a very robust pipeline of acquisition opportunities across our existing footprint and adjacent high-growth Sun Belt market. Importantly, our strategy is not simply about acquiring assets. We are focused on partnering with outstanding local operators, investing in their people and businesses, and creating long-term value together as part of a broader Suncrete platform. With significant opportunities for both organic growth strategic M&A, Suncrete is well positioned to build a leading ready-mix platform across the Sun Belt and deliver compelling long-term value for all our stakeholders, employees, suppliers, customers, communities, and absolutely our shareholders. Now, I'd like to turn the call over for questions. Operator? Thank you. We will now be conducting a question and answer session. We ask that you please limit to one question and one follow-up. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please, while we poll for questions. Our first question comes from Kathryn Thompson with Thompson Research Group. Your line is now live. Hi. Good morning, and thank you for answering my questions today. The first is, as you completed acquisitions in late April, May, and June, you are doing a bit of digesting. Give a little bit more color, just in terms of how integration is going, and understanding that the ABC Block Company integrations can be a little bit different than both Hope Concrete and Nelson Bros. So any color that you have on that and progress? Well, good morning, Kathryn. This is Randall. The integrations are going at various levels, but we think they are all going well. For example, the Oklahoma City integration, their performance has already brought up to the standards of Suncrete's historical performances. Out in North Texas, that is a little more challenges in it, but we still believe we will get it within our playbook of 9- 18 months. We do not believe there are any major issues with integrations, but they just do not happen overnight. Regarding ABC Block Company, that has gone very well also. They have some good management team there, and actually that has gone surprisingly well. We are very happy about that. Hey, Kathryn, this is Ned. I would just tell you that it is hard to project how quickly these businesses really get integrated and come up to the margin with the markets they are in. I think what we are seeing now is they are really all on plan and on point. It is difficult to project month to month or quarter to quarter how that works. As Randall said, OKC came up a little quicker than we thought and has really been a terrific surprise to some extent. I think for ABC Block Company, it gives us some real strategic opportunities as we move forward. That business has done some unbelievable progress as we bought into that. It has been a real bright spot. Okay, excellent. In the quarter, you noted 9% organic growth, which is, given some pretty challenging weather conditions, I'd say that's pretty good. As you look at the growth algorithm, beyond organic, in focusing on end market, you alluded to AI driving demand. What are other areas that are driving just core demand from your acquired companies and also organic growth? Where do you see it over the next, does that mix impact over the next, say, 12-18 months? Well, our markets are still robust. We're seeing a lot of good projects come through, both commercial and obviously some of those are AI. We are getting our share of the AI projects. But again, the markets are solid. We're working on improving margins, looking at costs and more efficiencies right now. Ned, do you have something to add to that? Yeah. Kathryn, you wrote the book on this. We got $1 trillion-$2 trillion of infrastructure that's going to be built, and we are building a company right in the heart of that growth and that progress. We're seeing growth. There's a Hyundai plant that we're bidding on, putting concrete in. There's AI projects. There's developments going in because the cities are growing. We see organic growth really being better than we originally projected. It's going to be 7%-10%. As we add acquisitive growth to that, this is going to be a business that grows strong into the foreseeable future. Perfect. Thanks so much. I appreciate it. Thank you, Kathryn. Have a great weekend. Thank you. Our next question comes from Philip Ng with Jefferies. Please proceed with your question. Hey, guys. Looks like weather contributed to weaker. Hey, how you doing, Ned? It looks like weather contributed to weaker volumes in the quarter, Texas, Oklahoma in particular. But any color how order patterns trend through the quarter in early August, and have you seen shipments kind of rebound in July and August? I know Texas is actually still seeing some wet weather. But just give us any color in terms of how trends has progressed through the quarter and perhaps any color on non-weather regions, how it's progressed. Well, weather primarily impacts our business by they shift the volumes into future periods. You never lose a yard of concrete. It just doesn't get poured on that rainy day. Then typically, the third quarter is the strongest quarter in concrete, at least in this geographical region with the weather patterns we have. So we believe what we missed in the second quarter is being pushed into the third, and then the third quarter tends to have, historically, if you go back, third quarter is usually the strongest quarter for a concrete company. Hey, Philip, as you know, we play an outdoor— Yeah, go ahead. We play an outdoor game, and it evens out over the year generally. I think last quarter, and as we expand our geographic footprint, you'll see weather have less of an impact. So we're going to continue to expand that. It was interesting to me that all of a sudden, I'm now watching weather for lots of various reasons. Oklahoma and Texas. You would like Texas to be wet and Oklahoma to be dry and vice versa. So it drives those to expand that geography so that we have less impact by weather. Randall, have you seen the shipments kind of snap back in July and August? I guess, bigger picture, you guys obviously reiterate your full year guidance, a little tougher out of the gates the first half. What are the drivers that we should be mindful of in the back half to kind of hit your framework? Hopefully, you see a snap back in volume. But what are some of the considerations we should think of in the back half and just given a softer start, is the midpoint of range still achievable target at this point? Well, we certainly believe so. Again, we think third quarter will be a strong quarter, because historically it always is in the concrete business, even if all variables stay the same. But we also believe an important factor that will be improving the integration process. We do have a plan. Got it. As we mentioned earlier, OKC, we were able to get that integration process in place quicker than anticipated, and it is ahead of schedule, but we still believe in 18 months. Again, some may be closer to nine, some may be closer to 18, but we are still very optimistic that we are on pace. Yeah, Philip, from the standpoint of having done this for now a long, long time with different industries, it's really hard to project integration on a month-to-month basis. We know we're going to get there with them in really generally, 12- 18 months. Some of them happen quicker. But it evens out over the year. As we do more acquisitions, we just get better at it. Okay. Appreciate the color, guys. Thanks. Our next question comes from Andy Wittmann with Baird. Please proceed with your question. Yeah, great. Thanks for taking my questions, guys. I guess I wanted to drill in a little bit more on the second half margin guide. Obviously recognizing that your company has gone through a lot of change with these acquisitions. But some of those were owned during the quarter and obviously they'll be integrated more here. But the second half margin guidance is up pretty materially. I guess I'm calculating it somewhere pushing, I don't know, at the midpoint around maybe 20%-ish versus something here like 14%-ish. So I guess my question is like, can you talk about some of the specifics that are going to help you? Obviously, volume is one of them. Seasonal, you mentioned that a couple of times, and that's well known. But anything else in terms of things that we should know about to give you confidence? And maybe just specifically, guys, I think it would probably be helpful for everybody involved here to talk a little bit about third quarter specifically. We are halfway through the quarter here. There is a really big range in your guidance for the year. So just for us all to try to get the seasonality correct, maybe you could help pin that down a little bit more specifically what you got in 3Q versus 4Q. Well, again, not to beat the weather to death, but we expect third quarter not to be as abnormal weather pattern. Again, third quarter is typically your strongest quarter in concrete. But we are making good progress on the integrations. But some margin profiles take longer than others. As far as our outlook, I would turn that over to Calvin, if I can. I think he is well equipped to answer that question. Calvin? Yeah, good morning, Andy. I think Randall said it well, right? Integration plays into Q3 results and specifically the margin profile. Again, as weather patterns are better, you have less fixed costs that are burdening your yardage. Then lastly, I would point out that some of these acquisitions are doing quite well. If you look at the Oklahoma City acquisition we did, that is performing right in line with Suncrete's margin profile, and we will see the benefits of that in our strongest quarter coming up in Q3 and Q4. Got it. Thanks. [crosstalk] Andy, it should be our highest volume quarter, and the absorption also helps that margin. Sure. Okay. Great. Let's see what else I want to ask about here. I guess, maybe just in terms of, I guess, the balance sheet and the capital structure, it's good to have what's officially there now, which is great. We saw the average diluted share count, and then thanks for posting the shares on the balance sheet at the end of the quarter. When we look at that share count at the end of the quarter on the balance sheet, and we add up the A's and B's, is that the right number? Or are there still shares from the forward contract that you guys sold in the pipe? Just want to try to understand the capital structure a little bit better and where you're on the proceeds for that, as well as the shares being recognized on the balance sheet there. Yeah, Andy, let me start with your first question. This is Ned. Number one is we've got a really strong balance sheet. It gives us an opportunity to go. We've got lots of unlevered capital that we can utilize. We've got cash. We're building cash as we continue to provide cash flow. The forward contract, they got through it really quickly, honestly. We're through all that. I think the share numbers you see are going to be accurate as we move forward. We're excited to be able to provide that and be done with that. We would anticipate having a strong balance sheet and continuing to work to have that. You can see that our multiple of cash flow has substantially gone down since we did the de-SPAC. I think it was about 3.4, and we're now down to 2.5. We're going to continue. That's a range that we really like. Got it. That's helpful. My last question goes back to the margins a little bit. There's obviously been a lot of fuel cost inflation, and that fuel and energy costs have a way of kind of working them through other parts of the supply chain. Certainly, delivery costs for some of the aggregates that are inputs for yous could be an obvious knock-on effect of that. I was just wondering what your experience of that was in the quarter, and how it affects your outlook, if at all, in terms of the margins that you have or the posts here in the second half of the year. Thanks, guys. I'll leave it there then. Well, we have a fuel surcharge in place that's been in place for, I don't know, years, and it's indexed by a federal reference, so we just pass it through. Okay. Any other ramifications for the downstream though, Randall? We haven't seen anything. Demand still remains strong, and a lot of projects are still coming out of the pipeline. Okay. I'll leave it there. Thanks, guys. Our next question comes from Rohit Seth with B. Riley Securities. Please proceed with your question. Hey, thanks for taking my question. Just curious on the SG&A, running about $25 million in the quarter. I'm just curious, what's the right quarterly run rate as we exit the year? That's about the right run rate, Rohit. Okay. On ABC Block Company, it is not necessarily ready mix concrete. That surprised me a little bit. Are you guys planning to open up or consider other acquisitions in pre-stressed concrete? Well, we are certainly open to it. Again, we are pleased with the outcome and results of ABC Block Company, and we think there are some opportunities to consolidate that, other acquisitions into that. Obviously, there are certain regions that there are better markets than that. We are looking at those. Rohit, strategically, it is cement and rock, and those concrete products are made by the same product. So it gives us an ability to utilize our scale. We also have areas where we can add block, that we currently have concrete plants and vice versa. So these are two things that really fit hand in glove, to be honest with you, with terrific margins. Okay. On the pipeline, you guys had about $60 million of pro forma adjusted EBITDA, I guess, acquisitions in discussions. Just curious if you think there will be anything more being done here before the end of the year, where those maybe acquisitions sit in terms of execute on this year? Rohit, I would encourage you to stay tuned. Acquisition pipeline looks as good as it's ever been. I would expect us to be making some announcements in Q3 and Q4 this year with some more exciting updates. All right, fantastic. Thanks, Rohit. Our next question comes from Gerry Sweeney with ROTH Capital. Please proceed with your question. Good morning. Thanks for taking my call. Good morning, Gerry. I am going to take a slightly different tack. Everyone, a lot of questions around acquisitions, but I am actually interested a little bit in organic. Oh, Gerry, knowing you, Gerry, that surprises us. Just wanted to talk about organic investment. Obviously, I think you have some footholds in some regions through acquisitions. What about the opportunities just for organic investment to potentially expand those footholds? Is there an opportunity not just to expand them, but maybe deliver scale sooner to go after larger opportunities? Or should we just be looking at acquisitions from that perspective? Well, no, we're looking at greenfield opportunities and organic expansion. We recently just went into the Missouri market in a concrete plant, set up a plant in Missouri. Prior to that, we went into the Fayetteville market with a plant. So any of these markets we're in, if we see an opportunity to expand our footprint with the greenfield, we certainly keep that in mind at all times. [crosstalk] Sorry. Yeah. Gerry, some of the larger projects that we do with AI, with developments where we see growth, it gives us an opportunity to really have a greenfield that we know we already have revenue and cash flow for. Okay. That was my follow-up. Some of that is we have customer bases. Yeah. They ask us to come into that market because we serve them in so many other markets. That's a good springboard to enter a market and set up a plant and then build your volumes from there. That's one reason why we do that. There's a multitude of them, but that's typically a good reason to springboard into another location. Can you quantify those opportunities? Is it, could you quantify those opportunities, if possible? Yeah. I think the easiest way to quantify them, [Gerry], is we think organic growth is going to be probably 8%-10%. If you look at the last quarter, it was 9%. About two-thirds of that is just the markets we're in, and about a third of that is moving into new markets. Okay, great. That's it for me. Appreciate it. Thanks, guys. Thanks, [Gerry]. Our next question comes from Adam Thalhimer with Thompson Davis & Co. Please proceed with your question. Hey, good morning, guys. Morning, Adam. Rick likes you to bat cleanup. That's all I can figure out. I'm getting. We're seeing a pattern here, which is fine. I wanted to ask, when you look at national PPI, concrete pricing is actually a bright spot, and I'm curious what you're seeing concrete pricing in your markets. Well, it's solid. Some markets, we have introduced a recent price increase in. We're still waiting to see how some of things unfold in the other markets, but they're holding their ground. We're not going backwards. That's a good thing, right? No, it varies market by market, and when we see opportunity, we put out a price increase. Oklahoma City is a good example. Oklahoma City is a good example. Randall, on data. Actually, I have three questions on data center jobs. Fire away, Adam. Okay. How many cubic yards typically do you see with those jobs? When you start them, how long are you typically at the job site? Is the pricing any different? Well, again, that varies a lot, to be honest. We have some that may be 40,000 yards, 50,000 yards, but it's phase one. They could have five phases. You have some that may be a half a million yards. Typically, on that size, you set up plant or plants on that site, and those could run a year or more. Pricing on that, again, that varies on the size of the operation and whether or not you have to set a plant up and what market it's in based on freight and material costs. There's a lot of variables. I can't really give you one size fits all. No, but it's a great opportunity for us because once we have a plant on site, there's a lot of ancillary growth. There's communities that go around it. There's retail centers that go around it. People don't really understand the growth that happens around these AI centers, and it's really part of the infrastructure build that's going to be probably close to $2 trillion. I think from a pricing standpoint, they're very sensitive to on time, on spec. As you can imagine, when you're sensitive to on time, on spec, for us, that's a really good margin business. There's only so many You have to have the scale to be able to perform that. You have to have engineers on staff. Competition for those jobs is much more limited than general market. Got it. Okay. I'll leave it there. Thanks, guys. Thanks, Adam. This now concludes our question and answer session. I would like to turn the floor back over to management for closing comments. Thank you all for joining today, and have a good day. Ladies and gentlemen, thank you for your participation. This does conclude today's teleconference. Please disconnect your lines and have a wonderful day.