The Flywheel | Issue No. 56 Contents:     George’s Message          Year in Review           

Letter from George

One of the dilemmas of giving a year-end report in The Flywheel is trying to be interesting, relevant, and truthful. If I were to go with my instincts, I would lose you because this memo would be too long.

There have been so many crazy things happening in our world that cause people to be uneasy. Stable and predictable don’t describe our state, country, or world. Wars in Ukraine and Gaza, threats of war with Russia and China, food shortages around the world, inflation (far more than the government tells us), and supply chain disruptions causing shortages of goods and services are now familiar. I suspect most of you stay informed and have at least some uneasiness that things just aren’t as you would like them to be.

Why do I start this year-end report with this? Despite all these disruptions, we hit or exceeded our goals. We hit the 1,000-employee mark during the year and not only continued to be over $1 billion of backlog but increased that backlog by 20%. Strong compensation, bonuses, and profit shares came with our success.
Congratulations. We couldn’t have done it without all your commitment to excellence and our new mantra, “One Team, Total Ownership.”

When some things in my life aren’t going how I would like them to, I look to the things that don’t change. My faith in God. My love for (and from) my wife and children. And the stability of RQ. We all rely on work to take care of our families. I want to assure you that our management team takes very seriously the vision and planning necessary to provide a path for RQ to continue our march toward growing our markets, people, and capabilities.

2024 could be a rough year for the construction industry, yet RQ will continue to get work, execute work, and attract some of the best people in the business. We are in so many programs that, come what may, we will be bidding and winning work. We may need people to be somewhat flexible as we never know exactly what work will come next. But due to the wonderful execution of all your projects, the customer’s first choice is RQ and will continue to be paramount to our success.

Thank you from the bottom of my heart. There could be no better group of people to lead into 2024 and, God willing, this will be the best year yet.

George H. Rogers, III

PRESIDENT AND CEO

RQ’s Year in Review

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