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CEO Antonio Carrillo and team have simplified the portfolio, integrated two sizable 2024 deals, expanded margins and used the barge sale to improve leverage. Concentration risk exists in Engineered Structures where one customer represented about 12 percent of 2025 revenue, requiring continued commercial discipline.

Incentives appear aligned with cash and EBITDA metrics commonly used in lending agreements. Execution in aggregates and utility structures through 2025 and Q1 2026 gives us confidence in operational capability.