Financial Data and Key Metrics Changes - Third-quarter revenues were $1.46 billion, representing a 23% year-over-year increase, driven by engineering and real estate services segments [6][4] - Adjusted EBITDA for the quarter was $191 million, a 24% increase from the previous year [6] - Overall internal growth for the quarter was 13% [6] Business Line Data and Key Metrics Changes - Engineering segment revenues increased by 36%, with internal growth of 6% [7] - Real estate services segment revenues rose by 13%, with capital markets up 21% and leasing revenues up 14% [6][7] - Outsourcing revenues increased by 8%, led by valuation and advisory practices [7] Market Data and Key Metrics Changes - Assets under management reached $108 billion, a 10% increase from the previous year [5] - Capital markets showed strong growth, particularly in the U.K., Japan, and Canada [6] - Debt finance activity was robust, especially in U.S. multifamily originations [6] Company Strategy and Development Direction - The company is focused on unifying operations under the Harrison Street Asset Management brand to strengthen its business and deliver value to shareholders [4] - The engineering sector is seen as a significant growth opportunity, with plans to double revenue and profitability in the coming years [25][94] - The company is actively pursuing acquisitions in fragmented markets to enhance its service offerings [25][94] Management's Comments on Operating Environment and Future Outlook - Management anticipates a gradual recovery in capital markets as interest rates stabilize and investor confidence builds [4] - The company expects to meet its full-year outlook despite slight adjustments in investment management due to integration costs [9] - Management remains optimistic about the future, citing strong backlogs and a solid pipeline across geographic markets [7][9] Other Important Information - The company raised $1 billion in new capital commitments during the third quarter, with an additional $1.2 billion raised since quarter-end [8] - The leverage ratio was 2.3 times as of September 30, with expectations to decline to just under two times by year-end [9] Q&A Session Summary Question: Inquiry about engineering margins and service mix - Management noted that engineering margins were slightly impacted by service mix, with a decline of 20 to 30 basis points due to low-margin pass-through costs [14][15] Question: Discussion on investment management margins and future outlook - Management indicated that integration costs would impact margins for the next two to three quarters, but they are focused on long-term growth [16][18] Question: Organic growth in engineering - Year-to-date organic growth in engineering is around 8%, with expectations for continued growth in infrastructure-oriented markets [22][23] Question: Capital markets activity and pipeline - Management expressed confidence in the capital markets pipeline for the fourth quarter, expecting to exceed last year's performance [41][42] Question: Leasing activity and geographic performance - Leasing was led by the U.S., with strong performance in industrial and office sectors, and management expects continued growth [34][35] Question: Data centers as a growth opportunity - Management highlighted their comprehensive capabilities in the data center sector, emphasizing their full-cycle involvement beyond traditional real estate services [56][57] Question: Construction activity outlook - Management noted that construction activity is currently soft, particularly in condominiums, but there is ongoing activity in data centers and multifamily projects [61] Question: Operating leverage and capacity - Management confirmed a 22% operating leverage on incremental revenue in Q3, with expectations for continued leverage as revenues increase [65][66] Question: Future growth in engineering and acquisitions - Management sees significant growth potential in the engineering sector across various regions, particularly in the U.S. and Europe [92][94]

Financial Data and Key Metrics Changes - The company reported Q3 revenues of $1.46 billion, a 23% increase year over year, driven by growth in engineering and real estate services segments [7][10] - Adjusted EBITDA for the quarter was $191 million, reflecting a 24% increase from the previous year [7] - Assets under management reached $108 billion, a 10% increase from the previous year [6][10] Business Line Data and Key Metrics Changes - Engineering segment revenues increased by 36%, with internal growth of 6% and significant contributions from acquisitions [9] - Real estate services segment revenues rose by 13%, with capital markets up 21% and leasing revenues increasing by 14% [8][9] - Outsourcing revenues grew by 8%, led by valuation and advisory practices [9] Market Data and Key Metrics Changes - Strong sales growth was noted in the U.K., Japan, and Canada, particularly in capital markets and leasing [8] - Debt finance activity was robust, especially in U.S. multifamily originations [8] Company Strategy and Development Direction - The company is focused on unifying operations under the Harrison Street Asset Management brand, which is expected to strengthen the business and enhance shareholder value [5][10] - The engineering sector is seen as a significant growth opportunity, with plans to double revenue and profitability in the coming years [29][101] - The company maintains a decentralized operating model that allows for flexibility and responsiveness to market opportunities [5][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting full-year guidance despite slight expected declines in investment management margins due to integration costs [10][41] - The capital markets recovery is viewed as a multi-year process, with expectations for continued growth in Q4 and beyond [48][50] - Management highlighted the importance of long-term value creation over short-term margin pressures [41][42] Other Important Information - The company raised $1 billion in new capital commitments during the quarter, with total year-to-date fundraising reaching $4.4 billion [10] - The leverage ratio was reported at 2.3 times, with expectations to decline to just under two times by year-end [11] Q&A Session Summary Question: Inquiry about engineering margins and service mix - Management noted that engineering margins were slightly impacted by service mix, with a net margin decrease of 20 to 30 basis points [16][18] Question: Discussion on investment management business and future margins - Management indicated that integration costs would impact margins for the next two to three quarters, but they remain focused on long-term growth [20][21] Question: Organic growth in engineering - Year-to-date organic growth in engineering was reported at around 8%, with expectations for continued growth in the mid-high single-digit range [24][25] Question: Capital markets activity and fourth-quarter outlook - Management expressed confidence in exceeding last year's capital markets performance, with a solid pipeline for Q4 [43][46] Question: Leasing activity and geographical performance - Strong leasing activity was noted in the U.S., particularly in industrial and office sectors, with expectations for continued growth [37][38] Question: Feedback on integration of investment management - Client feedback on the integration process has been positive, with increased capital allocations from investors [34][36] Question: Construction activity outlook - Management indicated that construction activity is currently soft, particularly in condominiums, but there is ongoing activity in data centers and related infrastructure [66][67] Question: Future growth potential in engineering across regions - Management highlighted significant growth opportunities in the U.S., Canada, Australia, and Europe, emphasizing the fragmented nature of the engineering market [100][101]

Financial Performance Highlights - Revenues for the third quarter of 2025 reached $14631 million, a 24% increase compared to $11791 million in the third quarter of 2024[2] - Net Revenues for the third quarter of 2025 were $12589 million, up 19% from $10580 million in the same period of 2024[2] - Adjusted EBITDA for Q3 2025 was $1911 million, a 24% increase year-over-year from $1546 million[2] - Adjusted EPS for Q3 2025 increased by 24% to $164, compared to $132 in Q3 2024[2] - GAAP Operating Earnings for Q3 2025 decreased by 5% to $1047 million, compared to $1097 million in Q3 2024[2] - For the nine months ended September 30, 2025, GAAP diluted EPS decreased by 52% to $082, compared to $173 in the same period of 2024[2] Segment Performance - Engineering revenue increased by 54% to $4881 million in Q3 2025, driven by strategic acquisitions and organic performance[8, 9] - Real Estate Services revenue increased by 14% to $8386 million in Q3 2025, driven by transaction activity[8, 9] - Investment Management revenue increased by 7% to $1363 million in Q3 2025, supported by higher fee-paying assets under management[8, 9] Capitalization and Liquidity - The company's leverage ratio is 23x[20, 21] - The company has $950 million of available liquidity under revolving credit facility[21]

Core Insights - Gartner reported quarterly earnings of $2.76 per share, exceeding the Zacks Consensus Estimate of $2.41 per share, and showing an increase from $2.50 per share a year ago, resulting in an earnings surprise of +14.52% [1] - The company achieved revenues of $1.52 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.35% and up from $1.48 billion year-over-year [2] - Gartner's stock has underperformed, losing approximately 49.2% since the beginning of the year, while the S&P 500 has gained 16.5% [3] Earnings Outlook - The future performance of Gartner's stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $3.26, with expected revenues of $1.75 billion, and for the current fiscal year, the EPS estimate is $12.19 on revenues of $6.49 billion [7] Industry Context - The Consulting Services industry, to which Gartner belongs, is currently ranked in the top 26% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked using tools like the Zacks Rank [5][6]

Core Viewpoint - Technip Energies has announced its share buyback activities conducted from October 27, 2025, to October 31, 2025, as part of a discretionary buyback program managed by an investment services provider [1]. Group 1: Share Buyback Details - The total number of shares repurchased during the specified period was 22,500 shares [2]. - The average purchase price for the shares was €34.71 [2]. - Specific transactions included the purchase of 12,500 shares on October 30, 2025, at an average price of €34.78, and 10,000 shares on October 31, 2025, at an average price of €34.62 [2]. Group 2: Company Overview - Technip Energies is recognized as a global technology and engineering leader, focusing on sectors such as LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management [3]. - The company generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris [4]. - Technip Energies employs over 17,000 individuals across 34 countries, emphasizing a commitment to sustainability and innovation [4].

Core Viewpoint - Park-Ohio Holdings Corp. has declared a quarterly cash dividend of $0.125 per share, to be paid on November 28, 2025, to shareholders of record as of November 14, 2025 [1]. Company Overview - Park-Ohio is a diversified international company that provides supply chain management outsourcing services, capital equipment for production lines, and manufactured components for product assembly. The company is headquartered in Cleveland, Ohio, and operates approximately 130 manufacturing sites and supply chain logistics facilities globally, organized into three reportable segments: Supply Technologies, Assembly Components, and Engineered Products [2]. Recent Developments - Andrew C. Clarke has been appointed to Park-Ohio's Board of Directors as an independent director effective September 30, 2025. Clarke is the former Chief Financial Officer of C.H. Robinson Worldwide, Inc. [6]. - Park-Ohio will participate in the Sidoti & Company Small-Cap Virtual Conference on September 17-18, 2025, where company executives will present and hold one-on-one meetings with investors [7].

Core Insights - Amentum has secured positions on a multi-billion pound framework for decommissioning solutions at the Sellafield nuclear site in the UK, emphasizing its engineering and project management capabilities [1][2][3] Company Overview - Amentum is a global leader in advanced engineering and innovative technology solutions, with over 53,000 employees across approximately 80 countries [11] - The company has a significant presence in the UK, providing program and project management services at various nuclear sites [12] Project Details - Under the 15-year Decommissioning and Nuclear Waste Partnership (DNWP), Amentum will focus on waste-led decommissioning, including the clearance of redundant buildings and preparatory work on the UK's oldest nuclear reactor complexes [5][10] - The estimated value of work that could be awarded to Amentum is up to £1.4 billion ($1.9 billion USD) [2] Technology and Innovation - Amentum plans to utilize advanced technologies such as digital visualization, geospatial data analysis, robotics, and AI-based tools for optimizing remediation processes [6][8] - The company will deploy pioneering robot-operated technology for the safe retrieval of hazardous materials from nuclear fuel ponds [8] Strategic Partnerships - Amentum has been selected as the remediation partner for the High Security Area at Sellafield and is part of The Decommissioning Alliance (TDA) for pond retrievals [2][10]

Engineering Design & AI - AI is essential for accelerating engineering design with real-time physics, addressing the challenge of lengthy physical consequence analysis [1][2] - Optimizing designs for maximum performance requires running tens of thousands of iterations, achievable through AI built on high-level AI libraries like PyTorch, CUDA, and NVIDIA technology [2] - The company uses GPUs in the cloud for continuous model training to achieve the necessary scale, considering it the only viable solution without NVIDIA [3] NVIDIA Inception Program Benefits - The company acquired DGX H200 hardware through NVIDIA's Inception program, becoming one of the first to receive these units [3] - The Inception program provides valuable discounts on hardware, offering immediate financial benefits [4] - The program facilitates connections with NVIDIA teams and access to events like GTC, providing advantages that would otherwise be unavailable [4][5] Market Impact & Vision - AI is fundamentally changing engineering and has the potential to transform everyone's life [5] - The company is driven by the gap between the potential of AI and its current real-world application [5]

Core Insights - Parsons Corporation has been awarded two contracts exceeding $100 million for program management and design engineering for Middle East government customers, highlighting its capabilities in national security and critical infrastructure [1][2] - The company aims to leverage its strong regional presence in transportation and urban development to expand into adjacent markets related to defense, security, tourism, and entertainment [1][3] Company Capabilities - Parsons is recognized as the top firm in program management and ranks among the top 40 defense companies globally, with a diverse customer base in cyber, transportation, urban development, and critical infrastructure protection [3] - The company has extensive experience in the Middle East, having operated in the region since the 1950s, and has completed thousands of projects, including significant infrastructure developments [4] Strategic Focus - The contracts will involve leading the design review and project management of national security infrastructure programs, including border security facilities [2][3] - Parsons emphasizes its commitment to enhancing regional and global security through its industry-leading capabilities and local expertise [2][4]

Core Viewpoint - A class action lawsuit has been filed against KBR, Inc. for allegedly making false and misleading statements regarding its partnership with HomeSafe, which led to a significant drop in KBR's stock price after the termination of a contract by the U.S. Department of Defense's TRANSCOM [1][3][4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired KBR shares between May 6, 2025, and June 19, 2025 [1][2]. - Investors have until November 18, 2025, to seek appointment as lead plaintiff representatives [2]. - The allegations include KBR's failure to disclose concerns from TRANSCOM about HomeSafe's ability to fulfill its obligations under the Global Household Goods Contract [3]. Group 2: Impact on Stock Price - Following the announcement of the contract termination by HomeSafe on June 19, 2025, KBR's shares fell by $3.85, or 7%, closing at $48.93 on June 20, 2025 [4]. Group 3: Company Background - KBR, headquartered in Houston, Texas, provides engineering, logistics, defense contracting, and mission-critical government services [2].