Trc Companies, Inc. (NYSE:TRR)

$TRR ($11.19)reported Q1 2016 results:

• Sales of $100.2 million  vs $92.6 million in the prior year

• EPS of $0.14 vs $0.11

Quotes from management:

"Fiscal 2016 is off to a good start, as we continue to execute our strategic growth initiatives," Vincze added. "In our Energy segment, demand for our utility clients remains strong. Our Infrastructure segment backlog is robust, and the prospects for a long-term federal transportation bill are favorable. Environmental issues related to transportation of natural gas and retirement of coal plants should support revenue growth in our Environmental segment. We are looking forward to completing our acquisition of the Willbros Professional Services business, which will become a fourth segment, Pipeline Services. We believe adding this unit's technical capabilities, employees and client base to TRC, with our national reputation and strong financial position, will create a company with an unparalleled capability to address all phases of the pipeline project life cycle."

Third Quarter 2015 Results

• Q3 2015 revenues of $101.0 million vs $88.1 million in the prior year period

• Q3 2015 EPS of $0.17 vs $0.05 in the prior year period

Comments on the Results

"TRC delivered a strong performance in all three of our segments during the third quarter," said Chris Vincze, Chairman and Chief Executive Officer. "Overall NSR increased 15%, and operating income nearly tripled, driven by strong fundamentals in all of our markets. Additionally, this year's third quarter was impacted less by the weather and medical cost issues that affected results in the same period last year.

"In our Environmental segment, NSR increased 22%, and profit increased 28%, on steady demand throughout the segment. Energy segment NSR was up 5%, while segment profit increased 10%, due to new project demand and efficient resource management. In the Infrastructure segment, NSR increased 19%, and segment profit rose 99%, resulting from project execution and receipt of pending change orders," Vincze said.

Business Outlook

"We continue to execute a profitable growth strategy across our three segments," Vincze added. "The Infrastructure segment, where backlog grew 56% in the quarter, is gaining momentum as several states have deployed significant capital projects. In the Energy segment, we are seeing increased demand from renewables as states such as California push for increasing energy efficiency and reduced carbon emissions. In addition, high levels of capital continue to be spent upgrading transmission and distribution assets. Meanwhile, in our Environmental segment, focused project execution and recent acquisitions are contributing to our growth and profitability. We have a strong balance sheet to support our growth through ongoing organic investments and strategic acquisitions, and we are optimistic about the remainder of fiscal 2015."