Earnings Conference Call Presentation Q3 FY25 August 6, 2025 Pro Forma and Non-GAAP Measures This presentation includes the presentation and discussion of pro forma financial information that incorporates the results of Jacobs' Critical Mission Solutions and Cyber & Intelligence businesses ("CMS") prepared in accordance with the requirements of Article 11 of Regulation S-X. This presentation also includes the presentation and discussion of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjust ...

Core Insights - Jacobs Solutions reported Q3 FY2025 results with Non-GAAP EPS of $1.62, exceeding the consensus of $1.53, while GAAP revenue was $3.03 billion, slightly below the estimate of $3.07 billion [1][2] - The company achieved a 24.6% year-over-year growth in adjusted EPS, despite a decline in free cash flow [1][2] - Strategic focus remains on high-growth areas such as smart infrastructure, sustainability, and digital transformation [4][15] Financial Performance - Non-GAAP EPS reached $1.62, a 24.6% increase from $1.30 in Q3 FY2024 [2] - GAAP revenue grew 5.1% year-over-year from $2.88 billion in Q3 FY2024 [2][6] - Adjusted net revenue was $2.23 billion, up 7.2% from $2.08 billion in Q3 FY2024 [2] - Adjusted EBITDA increased by 13.5% year-over-year [5] - Free cash flow (non-GAAP) fell 39.1% to $271 million from $445 million [2][8] Business Overview and Strategic Focus - The company operates in infrastructure, advanced facilities, and digital consulting, focusing on sectors like water, energy, and life sciences [3] - Recent strategic initiatives include targeting energy transition, water infrastructure, and digital transformation [4] - The company has made strategic acquisitions and divestitures to enhance its portfolio [4] Market Demand and Growth Drivers - Strong demand in the I&AF division was driven by life sciences, data centers, energy, and transportation [6] - Backlog reached a record $22.7 billion, up 14.3% year-over-year, indicating healthy order intake [7] - PA Consulting segment reported 15% revenue growth year-over-year [6] Capital Returns and Shareholder Value - The company repurchased $653 million in shares, retiring about 4% of shares outstanding in FY2025 [7] - Dividends increased from $0.29 to $0.32 per share, marking consecutive years of dividend growth [9][10] - A 10% dividend increase is planned for FY2025 [15] Future Outlook - Adjusted EPS guidance for FY2025 is raised to $6.00 to $6.10, with a target of approximately 5.5% adjusted net revenue growth [15] - Free cash flow conversion is expected to exceed 100% of net income for FY2025 [15] - Key areas to monitor include backlog conversion, free cash flow generation, and performance in digital and consulting businesses [15]

Core Viewpoint - Fluor's disappointing second-quarter 2025 financial results and revised outlook have led to a significant drop in its stock price, reflecting investor concerns about the company's performance and future prospects [1][3][4]. Financial Performance - Fluor reported Q2 2025 revenue of $3.98 billion, missing analysts' expectations of $4.55 billion, representing a year-over-year decline of 5.9% [3]. - The company's adjusted earnings per share (EPS) was $0.43, falling short of the estimated $0.56 [3]. Revised Outlook - Management revised its 2025 adjusted EBITDA forecast from an initial range of $575 million to $675 million down to $475 million to $525 million, citing "client hesitation around economic uncertainty" as a key factor [4]. - The revision reflects concerns over new awards and project delays impacting the company's performance [4]. Investor Sentiment - Despite the steep decline in stock price, the company remains an industry leader in energy and infrastructure projects, suggesting potential for future growth [5]. - Investors are advised to maintain their positions rather than sell in response to the current downturn [5].

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $4 billion, with consolidated new awards of $1.8 billion, 72% of which were reimbursable [6][7] - Total backlog remains around $28 billion, with 80% being reimbursable [8] - Adjusted EBITDA for Q2 was $96 million, down from $165 million a year ago, and adjusted EPS was $0.43 compared to $0.85 [27][36] Business Segment Data and Key Metrics Changes - Urban Solutions reported a profit of $29 million, impacted by a $54 million net cost growth on three infrastructure projects [8][14] - Energy Solutions segment profit was $15 million, down from $75 million a year ago, due to nearing project completions and an arbitration ruling [16][17] - Mission Solutions reported a segment profit of $35 million, down from $41 million a year ago, due to a temporary stop work order [20] Market Data and Key Metrics Changes - New awards for the quarter totaled $7.6 billion for 2025, with a book-to-burn ratio above one [7] - The company noted a slowdown in capital spending in the Mining and Metals sector due to global trade uncertainty [12] - The infrastructure segment experienced cost growth on three projects, with significant impacts from design errors and material escalation [14][91] Company Strategy and Development Direction - The company is focusing on markets such as mining, advanced manufacturing, data centers, and life sciences for future growth [46][48] - Management expressed optimism about the long-term opportunities in the LNG market, particularly with the recent achievements in LNG Canada [19][81] - The company plans to convert 15 million NuScale Class B shares into Class A, viewing it as a positive step for shareholder value [5][34] Management's Comments on Operating Environment and Future Outlook - Management noted a short-term hesitation in client investment decisions due to trade policy uncertainties and cost escalations [22][23] - The company expects that once trade agreements stabilize, clients will accelerate investments in various end markets [23][102] - Management remains confident in the long-term growth strategy despite current market hesitations [100][102] Other Important Information - The company reported a cash and marketable securities balance of $2.3 billion as of June 30, down from $2.5 billion at the end of Q1 [30] - Operating cash flow for the quarter was an outflow of $21 million, significantly lower than the cash generation of $282 million a year ago [31] - The company plans to slow share repurchases in 2025, expecting total repurchases to be between $450 million to $500 million [32] Q&A Session Summary Question: Insights on the bookings environment and backlog growth - Management acknowledged that trade policy impacts client sentiment and investment decisions, but they are pursuing work in the right markets [41][46] Question: Details on NuScale conversion and tax implications - The conversion of Class B shares to A shares will have a tax gain associated with it, which can be shielded through tax credits [50][51] Question: Clarification on backlog adjustments - The $1.7 billion in positive backlog adjustments relates to ongoing reimbursable work, primarily in the Urban Solutions segment [63][64] Question: Comments on infrastructure project performance - Management expressed disappointment with the results of three infrastructure projects but is committed to addressing the issues and completing them [91][92]

Q2 2025 RESULTS AUGUST 1, 2025 © 2025 Fluor Corporation. All Rights Reserved. Fluor is a registered service mark of Fluor Corporation. 1 LNG CANADA EXPORT FACILITY // KITIMAT, B.C., CANADA SAFE HARBOR STATEMENT This presentation contains forward-looking statements (including without limitation statements to the effect that the Company or its management "will," "believes," "expects," "plans," "intends," "continue," "anticipates," is "positioned" or other similar expressions). These forward-looking statements ...

Core Viewpoint - Tetra Tech, Inc. reported strong third-quarter fiscal 2025 results, with adjusted earnings per share of 43 cents, exceeding both the Zacks Consensus Estimate and management's guidance range, reflecting robust performance across all segments [1][2]. Revenue & Segmental Performance - Tetra Tech generated revenues of $1.37 billion, a year-over-year increase of 1.9%, surpassing management's guidance of $1.10-$1.20 billion [2] - Adjusted net revenues were $1.15 billion, up 3.9% year over year, exceeding the Zacks Consensus Estimate of $1.14 billion [2] - The backlog at the end of the fiscal third quarter was $4.28 billion, down 18.2% year over year [3] - Revenues from U.S. Federal customers increased by 46% year over year, while U.S. Commercial sales decreased by 4% due to lower renewable energy sales [4] - U.S. State and Local sales rose by 30% year over year, driven by disaster response, while international sales decreased by 1% due to softness in Australia's infrastructure [5] - Government Services Group segment revenues were $429 million, up 29% year over year, while Commercial/International Services Group revenues totaled $633 million, a 2% increase [5] Margin Profile - Subcontractor costs totaled $216.8 million, down 7.6% from the previous year, while other adjusted costs of revenues were $901.5 million, up 1.7% [6] - Adjusted operating income increased by 37.2% year over year to $159.4 million, with an adjusted margin increase of 300 basis points to 11.6% [7] Balance Sheet and Cash Flow - At the end of the fiscal third quarter, Tetra Tech had cash and cash equivalents of $242.8 million, up from $232.7 million at the end of the previous quarter [8] - Long-term debt increased to $862.5 million from $812.6 million [8] - In the first nine months of fiscal 2025, net cash generated from operating activities was $356.8 million, compared to $253.1 million in the prior year [9] - Capital expenditure was $13.4 million, an increase of 18.3% year over year [9] Shareholder-Friendly Policies - Tetra Tech distributed dividends totaling $48 million in the first nine months of fiscal 2025, compared to $43.3 million in the previous year [11] - The company repurchased shares worth $200 million during the same period [11] Fiscal 2025 Outlook - For fiscal 2025, Tetra Tech anticipates net revenues in the range of $4.454-$4.554 billion, compared to earlier expectations of $4.400-$4.765 billion [12] - Adjusted earnings are projected to be $1.49-$1.54 per share, an increase from the previous estimate of $1.42-$1.52 [12] - For the fiscal fourth quarter, management estimates net revenues of $1.04-$1.1 billion and adjusted earnings of 38-43 cents per share [13]

Colliers International Group (CIGI) Q2 2025 Earnings Call July 31, 2025 11:00 AM ET Speaker0Welcome to the Coherus International Second Quarter Investors Conference Call. Today's call is being recorded. Legal counsel requires us to advise that the discussion scheduled to take place today may contain forward looking statements that involve known and unknown risks and uncertainties. Actual results may be materially different from any future results, performance or achievements contemplated in the forward look ...

Financial Performance (Q3-25) - Net revenue increased by 11% to $1.06 billion compared to $0.96 billion in Q3-24, excluding USAID and DOS [5] - Operating income increased by 37% to $159 million compared to $116 million in Q3-24, excluding USAID and DOS [5] - Earnings per share (EPS) increased by 46% to $0.41 compared to $0.28 in Q3-24, excluding USAID and DOS [5] Segment Performance (Q3-25) - CIG segment net revenue increased by 2% to $633 million [7] - GSG segment net revenue increased by 29% to $429 million [7] - CIG operating income margin increased by 230 basis points to 19.9% [7] - GSG operating income margin increased by 130 basis points to 15.2% [7] Customer Revenue (Q3-25) - U.S Federal net revenue increased by 46% [8] - U.S State & Local net revenue increased by 30% [8] - U.S Commercial net revenue decreased by 4% [8] - International net revenue decreased by 1% [8] Financial Overview (FY25 YTD) - Net revenue increased by 9% to $3.454 billion [14] - EBITDA increased by 15% to $476 million [15] - Operating income increased by 21% to $432 million [16] - Diluted EPS increased by 26% to $1.11 [16] Backlog - Q3-25 Backlog is $3.09B [10] Guidance - Q4-25 Net Revenue is expected to be between $1.0 billion and $1.1 billion [32] - Q4-25 Adjusted EPS is expected to be between $0.38 and $0.43 [32] - FY-25 Net Revenue is expected to be between $4.454 billion and $4.554 billion [32] - FY-25 Adjusted EPS is expected to be between $1.49 and $1.54 [32]

Financial Data and Key Metrics Changes - The company reported revenues of $2,000,000,000 for Q2 2025, representing a 6% increase year-over-year [37] - Adjusted EBITDA was $242,000,000, up 12% with an adjusted EBITDA margin of 12.4%, an increase of 70 basis points year-over-year [37] - Year-to-date operating cash flow was $308,000,000, up 20% versus the prior year, with a conversion rate against net income of 123% [37] Business Line Data and Key Metrics Changes - In the MTS segment, revenues were $1,400,000,000, up 7% year-over-year, with adjusted EBITDA of $141,000,000, an increase of 6% [38] - The STS segment reported revenues of $540,000,000, up 2% year-over-year, with adjusted EBITDA of $129,000,000, up 17% and margins of 23.9%, an improvement of over 300 basis points [39] Market Data and Key Metrics Changes - The Middle East region saw a 20% growth on a trailing twelve months basis, with significant investments in energy security and infrastructure [20] - The company has a robust pipeline with $19,000,000,000 in bids awaiting award in the MTS segment, of which 72% represent new business [15] Company Strategy and Development Direction - The company is refocusing on its core business of MTS following the termination of the HomeSafe Alliance joint venture contract [7] - KBR aims to expand in key markets through delivery and innovation, achieving leading margins while deploying capital back to shareholders [19] - The company is prioritizing pursuits in MTS that align with the new defense budget and expanding geographical reach in STS [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the conversion of the pipeline as funding from the presidential budget and the Reconciliation Act begins to flow [58] - The geopolitical environment, particularly in the Middle East, poses risks but is also seen as an opportunity for growth [59] - The company remains committed to creating shareholder value and maintaining a disciplined approach to capital allocation [52] Other Important Information - The company updated its revenue guidance for fiscal 2025 to a range of $7,900,000,000 to $8,100,000,000, reflecting the removal of expected revenues from the HomeSafe contract [43] - The adjusted EBITDA outlook remains unchanged despite the revenue guidance reduction [47] Q&A Session Summary Question: What were the upside and downside risk factors in setting the updated guidance? - Management highlighted the importance of pipeline conversion and geopolitical movements as key factors in setting the guidance [58] Question: How does the company feel positioned to win and retain work after the HomeSafe experience? - Management believes there will be no negative impact on win rates due to strong customer relationships and increased engagement [61] Question: What is the outlook for the MTS segment regarding bookings in the second half of the year? - Management expects a more robust second half bookings environment as the award cadence picks up [71] Question: What needs to happen in the next several quarters to support the new targets for 2027? - Management indicated that conversion of the pipeline and winning a fair share of opportunities are crucial for meeting the targets [75]

Core Viewpoint - Jacobs has been selected to provide program management support for the Consolidated Rent-A-Car Facility (ConRAC) and Common Transportation System (CTS) at Denver International Airport (DEN), which is part of a broader capital improvement initiative aimed at enhancing safety, passenger experience, and operational efficiency while promoting sustainable aviation [1][2]. Group 1: Project Details - The ConRAC and CTS projects are essential for DEN's projected growth, with expectations to exceed 120 million passengers by 2045, facilitating a seamless rental car experience for travelers [2]. - The consolidation of rental car operations into a single facility will reduce terminal area traffic, eliminate excessive shuttle buses, and free up curb space for future redevelopment [3]. Group 2: Jacobs' Expertise and Contributions - Jacobs will leverage its global program management experience and specific knowledge in electric vehicle infrastructure, fueling operations, traffic design, and customer interface technologies to support the airport's capacity expansion while minimizing environmental impact [3]. - The company has a long-standing relationship with DEN, having delivered over 60 critical projects since 1992, including the Great Hall Improvement Program and Concourse Expansion Program [4]. Group 3: Industry Position - Jacobs is ranked No. 2 in Transportation by Engineering News-Record and provides comprehensive services in transportation infrastructure, helping clients move people and goods across various modes of transport [5]. - The company generates approximately $12 billion in annual revenue and employs nearly 45,000 people, focusing on creating a more connected and sustainable world through its diverse service offerings [6].