2018

11/5: It’s Time to Vote…Part II. Colorado and Missouri Vote on Key Transportation Funding Measures Tomorrow
11/2: It’s Time to Vote! Final Thoughts on California’s Prop 6
10/11: NC DOT FY'19 Expected Lettings up 100% YOY; TRG Hosting Field Trip to DOT & MLM Dec. 3
9/19: Feedback from National Construction Cost Estimator; Strong Construction Activity Expected into 2019 With Persistent Inflation
9/18: Feedback from Private Door Manufacturers Points to Steady Q3 Results & Positive Expectations Through 2019
9/6: Quarterly State DOT Lettings Report – Fiscal 2018
7/16: Texas Comptroller Boosts Revenues Estimates for Second Time this Fiscal Year; Insures Full Prop 7 Transfer
6/15: DOT Lettings Strong Entering Final Month of Fiscal Year
6/6: Heavy Materials Flashnote – Californians Vote in Favor of Prop 69, Setting a Constitutional Amendment to Dedicate All SB 1 Funding for Transportation
5/21: Heavy Materials Flashnote – Colorado DOT Receives $650MM Incremental Funding from Tax Revenue Surplus; Additional Funding Increases Planned
5/7: INDUSTRY UPDATE – State Revenue Report; Q3’18 Tax Collections Up 8.9% YTD, Lettings for Key States Up YOY
5/3: CBPX – Q1’18 Earnings Flashnote
4/19: Heavy Materials Flashnote – SB 1 Opponents Close to Gaining Signature Totals for Repeal; Prop 69 on June Ballot to Ensure Dedicated Transportation Funding
3/29: Large Res & Non-res Products Company Feedback; Inflation & Labor Pressures, But Demand Expected to be Strong
3/28: Feedback from the Field: The Largest Commercial Interior Products Show Points to Strong Visibility; Add’l USG Color
3/1: INDUSTRY UPDATE – State Revenue Report; 1H’18 Tax Collections up 8% YOY
2/15: Georgia DOT Proposes $1.8B “Truck-Only” Road Project to Support Increased Traffic from Port of Savannah – Panama Canal Expansion
1/30: Making Heads or Tails of the New Tax Code: Survey Feedback From the Field

2017

12/21: State Revenue Report; Q1’18 Tax Collections “You’re going to smell asphalt morning, noon, and night” - IN Governor
8/18: CALTRANS Announces ~$1B in Accelerated Projects
5/30: Texas Legislature Defers FY’19 Prop 7 Funding to Meet Biennial Budget Needs; ~$1.8B to be Received in Early FY’20, A 3-4 week Delay
5/22: Feedback From the Field Post Q1’17 Earnings Season
5/11: South Carolina Legislature Overrides Governor Veto to Increase Transportation Funding; Will Ultimately Raise $630MM Annually
5/9: State Revenue Report; Q3’16 Tax Collections Driven by Increased Employment Levels
5/1: Indiana Governor Signs Into Law HB1002 Raising $1.2B Annually for Transportation Funding
4/19: Tennessee House Boost Gasoline and Diesel Tax, First Hike Since 1989, to Raise $350MM Annually for Transportation Projects
4/17: 2017 TRG C&I Conference Takeaways
4/7: California Passes $52B Transportation Funding Increase
3/31: TRG C&I 2017 - RVs: Canary in the Coal Mine
3/30: California Governor & Legislative Leaders Successfully Combine Transportation Funding Plans for a Proposed $5.2B Annual Increase
3/29: TRG C&I 2017 - Aggregates: Timing is Everything
3/28: TRG C&I 2017 - Is Non-res Dead?
3/27: C&I 2017 - Sifting Through the Political Hoopla
3/14: Expansive Definition of Infrastructure; The Smoking Gun
3/3: California Governor Engaging Transportation Legislation – Funding Becomes Priority Post Weather and Dam Tragedies
2/15: State Revenue Report; 1H’17 Tax Collections, California and Trump Need Each Other
1/18: Tennessee Governor Proposes $275MM in New Transportation Revenues and Allowing Local
1/17: California Legislature Yet to Focus on Transportation Funding
1/13: 2017 IBS/KBIS Takeaways

2016

12/13: California Legislative Supermajority Gives Transportation Funding Initiative (yet) Another Chance
12/9: Continuing Resolution Delay of FAST Act Funding is of “Very Little Risk” to State DOTs
11/18: Infrastructure Stimulus - Are Expectations Over-built & Feedback from A Trump Senior Economic Advisor
11/9: State Revenue Report; Q1’17 Tax Collections and Various Transportation Initiative Results
10/14: State Revenue Report; FY’16 Tax Collections Up 1.5% YOY Posting 6 Consecutive Years of Growth, Q4 Slows
9/13: State-led Funding Initiatives Drive Aggregate & Concrete Companies Higher
9/7: “It’s Not You, It’s Me” (aka, Corporate Breakups): Recently Completed Spinoffs Create Unique
8/25: Texas DOT Proposes ~$30B FY’18-FY’19 Budget Request; A 30% Increase Over FY’16-FY’17 Funding Levels
8/24: Georgia DOT Proposes ~$2.0B FY’18 Budget Representing a 97% Increase from Pre-HB170 funding and ~230% Increase to Capital Projects
5/23: TRG's Brent Rakers a 2016 Thomson Reuters Award Winner
5/16: State Revenue Report; Q3’16 Tax Collections Driven by Increased Employment Levels
5/11: USG CFO Meeting - June 14, 2016 - Chicago, IL
4/19: NeoCon 2016 Field Trip - Opportunity to Meet HNI, KNL, MLHR, SCS, TILE, KBAL
3/29: TRG Construction & Industrial Conference 2016 – April 5, 2016 – NYC
3/28: TRG Adds to Conference Attendees with Dean Word Construction and NC DOT; Details on Policy Panel - April 5, 2016
3/1: Highway & Street Construction PIP up 34% YOY to Record $110.6B. Total Construction up 10.4%, NR up 12.3%, Res up 7.6% YOY
2/16: NeoCon 2016 Field Trip Save the Date - HNI, KNL, MLHR, SCS, TILE, MHK, Shaw Industries
2/12: State Revenue Report: Core State 1H’16 Collections Up 2.8%; Texas Collections down 5 of Past 7 Months
1/29: TRG Announces First Annual Construction and Industrial Conference – April 5, 2016 – NYC
1/22: IBS/KBIS Show Takeaways; Optimism Persists Despite Market Swoon

2015

12/16: Top Stock Ideas Going Into 2016
11/8: First Multi-Year Highway Bill in Decade Establishes Long-Term Funding Visibility + Stocks That Benefit
12/4: Initiating Coverage on Oilfield Services: Frac Sand Sector Preparing for an Industry Turnaround
12/2: Conference Committee Passes Fully-Funded, 5-Year $300B Transportation Bill
11/17: State Revenue Report: Q1’16 Collections Up YOY, But September Results Post First YOY Decline in 13 Months
11/16: Reminder of TRG Coverage European Exposure
11/4: Prop 7 Constitutional Amendment Passes by Overwhelming Majority Providing A Significant Boost to TxDOT Funding, ~30%
10/28: Prop 7 Would Provide $3B in Incremental Funding for TxDOT, “The largest single increase in transportation funding in Texas history.”
10/12: State Revenue Report: “Another Surge to End 2014-2015 Fiscal Year” - California Controller
9/28: TX Field Trip Focuses on TxDOT Infrastructure Funding Upside; SUM, USCR Doing Just Fine Despite TX Concerns
8/12: DOTs Continue State-Funding Initiatives in Face of Federal Funding Uncertainty
7/30: Congress Passes Short-term Highway Funding Extension
7/21: House Proposes Short-term Highway Funding Extension
7/1: Supreme Court Ruling Impact on Cement Companies
6/26: Ways & Means Committee Hearings Lay Out House Highway Funding Game Plan
6/12: House Ways & Means Committee Sets Hearing for Long-term Highway Funding
6/1: Texas Voters to Decide on Constitutional Amendment for Transportation Funding
5/20: Indiana DOT Still Benefitting From Major Moves Program
5/8: State Revenue Report; Q3'15 Tax Collections & Employment Levels Hit New Highs
5/7: Texas Legislature to Propose Constitutional Amendment for DOT Funding; Adding ~$3B Annually
4/2: U.S. DOT's TIFIA Office Likely to Announce Partial Refund of MAP-21 Funding to States; Additional Funding Provided in Latest HTF Extension
3/13: Georgia Gas Tax Hike Moves to Sentate; Other States Moving to Secure Additional Transportation Funding
3/5: Texas DOT Releases Prop 1 Funded Projects
3/4: Revenue Report - 1H'15 Tax Collections
2/23: TRG Hosts Conference Call with Virginia DOT P3 Manager
2/13: Public Private Parnterships (P3s) Gaining Ground with DOTs as Funding Uncertainty Continues; Conference Call Set with DOT P3 Maanger
1/14: Tax Hike Out of Gas; New Highway Bill Expected to be Part of Larger Tax Reform

2014

11/10: TRG Consulting Practice Announcement
11/3: State Revenue Report: Q1'15 Collections at All-Time Highs, Mid-Term Election Impact to Highway Spending
10/9: TRG Consulting: Core Competencies & Service Offering
9/12: State Revenue Report; FY'14 Tax Collections at All-Time Highs, Expectations for FY'15 Up 2-5%
9/5: Thompson Research Group Welcomes Brent Rakers & Anjali Voria
7/30: Senate Amends House Highway Bill
7/10: Updates on HTF, State DOTs, Gas Tax, and TIFIA
7/9: TRG Announces Business Opportunities
6/13: Updates from D.C. Transportation Conference
6/11: What Is the Impact of the Cantor Upset to the Highway Bill? Likely NOt Much
6/2: House GOP Leadership Announces Short-term HTF Plan
5/21: Revenue Report - Q3'14 State Tax Collections
4/16: U.S. DOT Updates Highway Trust Fund Ticker
4/4: State DOTs Prepared For Possible HTF Hiccup
2/14: 1H'14 State Revenue Report
1/27: T&I Committee Kick-off Highway Reauthorization Debate

2013

12/26: U.S. DOT Announces 5th and 6th MAP-21 TIFIA Awards
11/22: Additional MAP-21 TIFIA Awards Announced; Several Pending
11/22: State Revenue Report; Q1'14 Tax Collections
9/9: US DOT Announces Second Map-21 TIFIA Award
9/6: State Revenue Report; Record Collections For FY'13
9/4: Improving Res and Non-res Markets Drive TRG's Top 5 Stock Ideas
8/23: Kathryn Thompson Ranks #1 As Stock Picker & Earnings Estimates By the Financial Times/StarMine in 2013
7/25: US Transportation Secretary Makes Congressional Testimony Debut With Discussion of TIFIA Program; First MAP-21 TIFIA Award Announced
5/10: State Revenue Report - Q3'13 Tax Collections
3/1: Infrastructure Report - February 2013
2/25: Sequestration Impact on Federal Highway Funding Minimal
2/21: State Revenue Report; FY 1H'13 Tax Collections Hit Record Highs, Surpassed Peak Levels of 2007 and 2008
1/9: VA Governor Proposes to Abolish Fuel Tax; Sales Tax to Fund Transportation
1/2: Things Really Are Bigger in Texas

REPORTS

FLASHNOTES

2018

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2015

2014

2013

2012

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