Non-GAAP Financial Information Fourth Quarter Fiscal 2025 East San Fernando Valley Transit Corridor Light Rail Los Angeles, California AECOM was appointed by the Los Angeles County Metropolitan Transportation Authority as the lead designer on the East San Fernando Valley Light Rail Transit project, providing engineering, architectural and design services for the 6.7-mile track extension. AECOM was appointed to Phase 2 work in Q4. Disclosures Forward-Looking Statements All statements in this communication ot ...

Core Insights - Jacobs Solutions, Inc. is set to report its fourth-quarter fiscal 2025 results on November 20, with adjusted earnings expected to show a year-over-year increase of 21.9% to $1.67 per share, while revenues are projected to rise 6% to $3.14 billion [1][3]. Financial Performance - In the last reported quarter, Jacobs' adjusted earnings exceeded the Zacks Consensus Estimate by 3.9%, but revenues fell short by 1.1%, with year-over-year declines of 17.3% in earnings and 28.4% in revenues [1][2]. - The average earnings surprise over the last four quarters has been 2.3% [2]. Segment Performance - The Infrastructure & Advanced Facilities segment, which accounts for 89.7% of total revenues, is expected to benefit from strong demand in Water & Environmental, Life Sciences, Advanced Manufacturing, and Critical Infrastructure [5]. - Water services are highlighted as a resilient part of Jacobs' portfolio, with ongoing modernization and regulatory compliance driving demand [5]. - Life Sciences & Advanced Manufacturing is anticipated to gain from investments in biopharma capacity and data-center development, supported by partnerships with companies like NVIDIA [6]. - Critical Infrastructure demand is broad-based, with significant projects such as the DFW Airport digital transformation and Australia's Marinus Link electricity interconnector enhancing revenue visibility [7]. Consulting Contributions - PA Consulting is expected to positively impact the fiscal fourth quarter, driven by increased private-sector demand and improved public-sector spending in the U.K. [8]. Revenue Estimates - The Zacks Consensus Estimate for revenues in the Infrastructure & Advanced Facilities segment is $2.82 billion, an increase from $2.7 billion in the previous quarter, while PA Consulting revenues are estimated at $326 million, down from $333 million [9]. Profitability Outlook - Jacobs' bottom line is projected to improve year-over-year due to a favorable mix, enhanced use of global delivery centers, and evolving commercial models that support margin expansion [10]. - The company anticipates a full-year adjusted EBITDA margin near 13.9%, with expectations for higher profitability in the final quarter as operational efficiencies and gross-margin initiatives take effect [11]. Earnings Prediction - The Zacks model indicates that Jacobs does not conclusively predict an earnings beat this time, with an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [13][14].

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - A specific company is highlighted as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI technologies [3][7][8] Investment Landscape - Wall Street is investing hundreds of billions into AI, but there is a looming question regarding the energy supply needed to sustain this growth [2] - AI data centers, such as those powering large language models, consume energy equivalent to that of small cities, indicating a significant strain on global power grids [2] - The company in focus is positioned to capitalize on the rising demand for electricity, which is becoming the most valuable commodity in the digital age [3][8] Company Profile - The company is described as a "toll booth" operator in the AI energy boom, collecting fees from energy exports and benefiting from the onshoring trend driven by tariffs [5][6] - It possesses critical nuclear energy infrastructure assets and is capable of executing large-scale engineering, procurement, and construction projects across various energy sectors [7][8] - The company is noted for being debt-free and holding a substantial cash reserve, which is nearly one-third of its market capitalization [8][10] Market Position - The company has an equity stake in another prominent AI venture, providing investors with indirect exposure to multiple growth engines in the AI sector [9] - It is trading at a low valuation of less than 7 times earnings, making it an attractive investment opportunity compared to other energy and utility firms [10][11] - The company is recognized for its ability to deliver real cash flows and hold critical infrastructure, positioning it well for future growth [11][12] Future Outlook - The ongoing influx of talent into the AI sector is expected to drive rapid advancements and innovative ideas, reinforcing the importance of investing in AI [12][13] - The combination of AI infrastructure, energy needs, and the onshoring boom presents a unique investment landscape that the company is well-positioned to exploit [14][15]

Core Points - A class action securities lawsuit has been filed against Fluor Corporation, alleging securities fraud affecting investors between February 18, 2025, and July 31, 2025 [1][2]. Group 1: Allegations - The lawsuit claims that Fluor Corporation made false statements regarding the costs associated with its infrastructure projects, including Gordie Howe, I-635/LBJ, and I-35, which were reportedly increasing due to subcontractor design errors, price hikes, and scheduling delays [3]. - It is alleged that these issues, along with reduced capital spending from customers and economic uncertainty, were likely to have a significant negative impact on the Company's business and financial results [3]. - The complaint further asserts that Fluor's financial guidance for FY 2025 was unreliable, the effectiveness of its risk mitigation strategy was overstated, and the impact of economic uncertainty was understated [3]. Group 2: Legal Process - Investors who suffered losses during the specified timeframe have until November 14, 2025, to request to be appointed as lead plaintiff in the case [4]. - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members [4]. Group 3: Law Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [5].

Q3 2025 Performance Highlights - Shimmick Projects revenue increased by 6% year-over-year[8] - Gross margin on Shimmick Projects increased by 67% year-over-year[8] - Backlog increased by 15% quarter-over-quarter, with a book-to-burn ratio of 1.7x, exceeding 1.0 for the first time since 2023[8] - The company achieved its first positive Adjusted EBITDA in four quarters, reporting $4 million[8] - New awards of $60 million were added to the backlog in October 2025, and $169 million in projects were selected as preferred bidder with awards pending[8] Revenue and Gross Margin Details - Reported revenue was $142 million, with $107 million from Shimmick Projects[8] - Excluding a one-time favorable GGB Project claim settlement revenue of $31 million in Q3 2024, revenue increased by $7 million, or 5% year-over-year[8] - Reported gross margin was $11 million, compared to $12 million in Q3 2024[8] - Excluding a one-time favorable GGB Project claim settlement gross margin of $11 million in Q3 2024, gross margin increased by $10 million year-over-year[8] - Shimmick Projects contributed a gross margin of $10 million, up 67% year-over-year, while Non-Core Projects contributed $1 million[8] Backlog and Future Outlook - Backlog is approximately $754 million as of October 3, 2025, with $191 million in new work added in Q3 2025, and Shimmick Projects accounting for over 86% of the total backlog[8] - The company's pipeline supports monthly bidding activity of $600 million to $1 billion[10] - For the fiscal year ending January 2, 2026, the company reaffirms its guidance, expecting Shimmick Projects revenue in the range of $405 million to $415 million, with gross margin between 9% and 12%[24] - Non-Core Projects revenue is expected to be in the range of $80 million to $90 million, with gross margin between -15% and -5%[24] - Consolidated Adjusted EBITDA is expected to be between $5 million and $15 million[24]

Core Viewpoint - A class action securities lawsuit has been filed against Fluor Corporation, alleging securities fraud that negatively impacted shareholders between February 18, 2025, and July 31, 2025 [2]. Group 1: Lawsuit Details - The lawsuit claims that Fluor Corporation made false statements and concealed significant issues related to costs associated with infrastructure projects, including subcontractor design errors, price increases, and scheduling delays [3]. - It is alleged that these issues, along with reduced capital spending from customers and economic uncertainty, had a substantial negative impact on the company's business and financial results [3]. - The complaint further asserts that Fluor's financial guidance for FY 2025 was unreliable, overstating the effectiveness of its risk mitigation strategy and understating the impact of economic uncertainty [3]. Group 2: Next Steps for Affected Shareholders - Shareholders who suffered losses during the specified timeframe are encouraged to seek information about their rights to recovery, with no cost or obligation to participate [4]. Group 3: Legal Representation - Levi & Korsinsky LLP, a recognized securities litigation firm, has a strong track record in securing recoveries for shareholders and has been ranked among the top securities litigation firms in the United States [5].

Core Points - A class action securities lawsuit has been filed against Fluor Corporation, targeting alleged securities fraud that affected shareholders between February 18, 2025, and July 31, 2025 [2][3] Group 1: Allegations - The lawsuit claims that Fluor Corporation made false statements regarding the costs associated with its infrastructure projects, including Gordie Howe, I-635/LBJ, and I-35, which were reportedly increasing due to subcontractor design errors, price hikes, and scheduling delays [3] - It is alleged that these issues, along with a reduction in customer capital spending and client hesitance due to economic uncertainty, were significantly impacting the company's business and financial results [3] - The complaint asserts that Fluor's financial guidance for FY 2025 was unreliable, overstating the effectiveness of its risk mitigation strategies and understating the impact of economic uncertainty on its operations [3] Group 2: Next Steps for Affected Shareholders - Shareholders who experienced losses during the specified timeframe are encouraged to seek information on their rights to recovery, with no cost or obligation to participate [4] Group 3: Legal Representation - Levi & Korsinsky LLP, a recognized securities litigation firm, has a history of securing substantial recoveries for shareholders and has been ranked among the top securities litigation firms in the United States for seven consecutive years [5]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Fluor Corporation securities between February 18, 2025, and July 31, 2025, of the upcoming lead plaintiff deadline on November 14, 2025, for a class action lawsuit [1] Group 1: Class Action Details - Investors who bought Fluor securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 14, 2025 [2] - The lawsuit alleges that Fluor made false and misleading statements regarding project costs and financial guidance, which negatively impacted its business and financial results [4] Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [3] - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company, and has recovered hundreds of millions of dollars for investors [3] - In 2019, the firm secured over $438 million for investors, and its founding partner was recognized as a leading figure in the plaintiffs' bar [3]

Core Viewpoint - Fluor Corporation is facing a class action securities lawsuit due to alleged securities fraud that occurred between February 18, 2025, and July 31, 2025, impacting investors adversely [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Fluor Corporation made false statements regarding the rising costs of its infrastructure projects, including Gordie Howe, I-635/LBJ, and I-35, which were attributed to subcontractor design errors, price increases, and scheduling delays [2]. - It is alleged that these issues, along with a reduction in customer capital spending and client hesitation due to economic uncertainty, were likely to have a significant negative impact on the Company's business and financial results [2]. - The financial guidance provided by Fluor for FY 2025 is claimed to be unreliable and unrealistic, with an overstated effectiveness of the Company's risk mitigation strategy and an understated impact of economic uncertainty on its business [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until November 14, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the class action does not require investors to incur any out-of-pocket costs or fees, allowing them to potentially receive compensation without financial obligation [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the United States [4].

Core Viewpoint - A class action lawsuit has been filed against Fluor Corporation (FLR) by Berger Montague on behalf of investors who acquired shares between February 18, 2025, and July 31, 2025, alleging that the company misled investors regarding its financial guidance and undisclosed risks associated with major infrastructure projects [1][3]. Company Overview - Fluor Corporation, headquartered in Irving, Texas, provides engineering, procurement, construction, and project management services globally, with its Urban Solutions segment being the largest revenue contributor [2]. Lawsuit Details - The lawsuit claims that FLR and certain executives failed to disclose rising costs related to significant projects, including the Gordie Howe, I-635/LBJ, and I-35 projects, which were impacted by subcontractor design errors, material price increases, and scheduling delays [3]. - Additionally, the company is accused of underreporting the adverse effects of decreased client capital spending and broader economic uncertainties [3]. Financial Performance - In February 2025, FLR projected a full-year 2025 adjusted EPS of $2.25 to $2.75 and EBITDA of $575 million to $675 million, which was reaffirmed in May 2025 [4]. - On August 1, 2025, FLR reported disappointing second-quarter results, with a non-GAAP EPS of $0.43, missing consensus estimates by 23%, and revenue of $3.98 billion, which was $570 million below expectations and a 5.9% decline year-over-year [5]. - Following the release of these results, FLR significantly lowered its FY 2025 outlook, attributing the downturn to project delays and reduced client awards, leading to a stock price drop of $15.35, or 27.04%, closing at $41.42 [5].