Core Viewpoint - AECOM reported mixed results for Q2 fiscal 2025, with earnings exceeding estimates while revenues fell short of expectations and declined year-over-year, although net service revenues (NSR) increased [1][3]. Financial Performance - Adjusted earnings per share (EPS) reached $1.25, surpassing the consensus estimate of $1.15 by 8.7% and marking a 20% increase from the previous year [3]. - Total revenues amounted to $3.77 billion, a 4% decline year-over-year, while adjusted NSR grew by 4% to $1.87 billion [3]. - Adjusted operating income rose to $218 million, reflecting a 13% year-over-year increase, with an adjusted operating margin of 19.4%, up 130 basis points [6]. Backlog and Pipeline - Total backlog at the end of Q2 was $24.27 billion, an increase from $23.74 billion a year ago, with design backlog reaching a record high [4]. - The book-to-burn ratio in the U.S. design business was 1.2x, marking the 18th consecutive quarter above 1.0, indicating sustained demand [4]. Segment Performance - Revenues in the Americas segment were $2.9 billion, down 5% year-over-year, but NSR increased by 6% to $1.1 billion, driven by strong performance in the design business [5]. - International revenues decreased by 3% to $875 million, while NSR grew by 1% to $742 million, supported by growth in the U.K. and Hong Kong [7]. Cash Flow and Liquidity - Cash and cash equivalents totaled $1.6 billion, slightly up from $1.58 billion at the end of fiscal 2024, with total debt at $2.55 billion [11]. - Operating cash flow increased by 102% year-over-year to $191 million, and adjusted free cash flow rose by 141% to $178 million [11]. Guidance and Outlook - AECOM raised its fiscal 2025 guidance for adjusted EBITDA and EPS, expecting adjusted EPS in the range of $5.10-$5.20, indicating a 14% improvement from fiscal 2024 levels [12][13]. - The company anticipates 5-8% organic NSR growth for fiscal 2025 and expects adjusted EBITDA between $1.180-$1.210 billion, reflecting 9% year-over-year growth at the midpoint [13][14].

Primoris Services (PRIM) Q1 2025 Earnings Call May 06, 2025 10:00 AM ET Company Participants Blake Holcomb - VP - Investor RelationsDavid L. King - Chairman, Interim CEO & PresidentKen Dodgen - Executive VP & CFOPeter Lukas - DirectorDrew Chamberlain - Equity Research AssociateJustin Mechetti - Equity Research AssociateAvi Jaroslawicz - Equity Research Associate Conference Call Participants Brian Russo - AnalystBrent Thielman - MD & Senior Research AnalystKevin Gainey - Senior Research AnalystAdam Bubes - A ...

Financial Data and Key Metrics Changes - Adjusted EPS grew over 22% to $1.43, supported by solid year-over-year margin expansion [7][21] - Adjusted net revenue rose over 3% in Q2, with adjusted EBITDA for Q2 at $287 million, representing an 8% year-over-year increase [11][20] - Backlog grew 20% to more than $22 billion, a new record [7][21] Business Line Data and Key Metrics Changes - PA Consulting's revenue growth inflected positively, reaching mid-single digits and driving double-digit operating profit growth [7] - Adjusted net revenue growth for Water and Environmental was 2% in Q2, with expectations for mid to high single-digit growth in the second half [22] - Life Sciences and Advanced Manufacturing adjusted net revenue grew approximately 6% in Q2, with strong demand in both sectors [23] Market Data and Key Metrics Changes - Approximately 9% of total revenue comes from U.S. Federal infrastructure and related services, primarily tied to Department of Defense engagements [10] - The Middle East saw strong growth, continuing at double digits [45] - FX was a headwind in Q2, but if rates remain stable, it could become a tailwind in Q3 [46] Company Strategy and Development Direction - The core pillar of the strategy is to redefine the asset lifecycle for clients, focusing on high-growth markets [13][18] - The company aims to deliver sustainable, profitable growth by providing differentiated, digitally enabled solutions [18] - Continued investment in PA Consulting is being considered to strengthen the partnership and capitalize on growth opportunities [90][91] Management's Comments on Operating Environment and Future Outlook - The geopolitical backdrop remains stable, with infrastructure and consulting services in high demand [9] - The company anticipates sequential revenue growth from Q2 to Q3, with Q3 net revenue expected to grow 5% to 7% year-on-year [31] - Management expressed confidence in the backlog and its ability to absorb impacts from legal reserves and FX challenges [39][40] Other Important Information - The company returned a record amount of capital to shareholders during Q2, with $351 million in share repurchases [28] - A dividend of $0.32 per share was declared, representing a 10% year-over-year growth [29] - The company is on track to potentially return more than 100% of adjusted free cash flow in fiscal year 2025, excluding the distribution of Momentum shares [30] Q&A Session Summary Question: Can you quantify the reserve for the JV matter and discuss customer spending visibility? - Management indicated that while the procurement cycle is extending, there are no broad cancellations or delays in execution [37] Question: What are the regional dynamics, particularly in PA and the UK? - PA is experiencing strong growth, particularly in defense and security, while the UK business is rebounding with solid performance in transportation and water [41][42] Question: How is the company addressing rising construction costs? - The company is working with clients on supply chain scenario planning and value engineering opportunities due to rising costs [66][68] Question: Is there potential for stimulus spending from government customers? - Some programs that were paused are now resuming, particularly in federal infrastructure [72] Question: What is the outlook for margins and utilization rates? - Utilization rates have improved and are on par with previous years, with expectations for margin improvements in Q3 and Q4 [55][107]

Primoris Services (PRIM) Q1 2025 Earnings Call May 06, 2025 10:00 AM ET Speaker0 Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to the Primoris Services Corporation First Quarter twenty twenty five Earnings Conference Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. Thank you. I would now like to turn the call ...

Financial Data and Key Metrics Changes - Adjusted EPS grew over 22% to $1.43, supported by solid year-over-year margin expansion [6][20] - Adjusted net revenue rose over 3% in Q2, with adjusted EBITDA for Q2 at $287 million, representing an 8% year-over-year increase [10][19] - Backlog grew 20% to more than $22 billion, a new record [6][20] Business Line Data and Key Metrics Changes - PA Consulting's revenue growth reached mid-single digits, driving double-digit operating profit growth [6] - Adjusted net revenue growth for Water and Environmental was 2% in Q2, with expectations for mid to high single-digit growth in the second half [21] - Life Sciences and Advanced Manufacturing adjusted net revenue grew approximately 6% in Q2, with continued favorable demand [22] Market Data and Key Metrics Changes - Approximately 9% of total revenue comes from U.S. Federal infrastructure and related services, primarily tied to DoD engagements [9] - The Middle East saw strong growth, continuing at double digits [43] - FX was a headwind in Q2, but a potential tailwind is anticipated for Q3 if rates remain stable [44] Company Strategy and Development Direction - The company aims to redefine the asset lifecycle for clients, focusing on high-growth markets such as water and environmental services [12][16] - Continued investment in PA Consulting is being considered to enhance the partnership and capitalize on growth opportunities [85] - The company is focused on delivering sustainable, profitable growth through differentiated, digitally enabled solutions [16] Management's Comments on Operating Environment and Future Outlook - The geopolitical backdrop remains stable, with infrastructure and consulting services in high demand [8] - The company anticipates sequential revenue growth from Q2 to Q3, with Q3 net revenue expected to grow 5% to 7% year-over-year [29][30] - Management expressed confidence in achieving full-year guidance metrics despite macroeconomic uncertainties [29][114] Other Important Information - The company returned a record amount of capital to shareholders during Q2, with $351 million in share repurchases [26] - A final distribution of Momentum shares to shareholders is expected, representing approximately $159 million in incremental capital returns [27] Q&A Session Summary Question: Can you quantify the reserve for the JV matter and discuss customer spending? - Management indicated that while the procurement cycle is extending, there are no broad cancellations or delays in execution [36] Question: What are the regional dynamics, particularly in PA and the UK? - PA is experiencing strong growth, particularly in defense and security, while the UK business is rebounding with solid growth in transportation and water [40][42] Question: How do you expect free cash flow to convert this year? - Management expects a substantial step up in Q3 cash flow, not just back-end loaded in Q4, supporting the forecast of over 100% free cash flow conversion [50] Question: What are the expectations for profit margins in the third quarter? - The company anticipates significant margin improvement in Infrastructure and Advanced Facilities, with a target of close to 14% adjusted EBITDA margin [100] Question: How is the backlog growth related to project duration? - The company maintains a balanced approach to project sizes, focusing on both longer-duration projects and quicker-turnaround jobs [101][103]

Financial Performance - KBR reported revenues of $2.1 billion for Q1 2025, representing a 13% increase year-over-year, driven by growth across both segments and the LinkWest acquisition [29][30] - Adjusted EBITDA was $243 million, up 17% from the previous year, with an adjusted EBITDA margin of 11.8%, an increase of 40 basis points [29][30] - Adjusted EPS for the quarter was $0.98, reflecting a 27% increase, primarily due to a lower share count from repurchases [29][30] Business Segment Performance - Mission Technology Solutions (MTS) revenues were $1.5 billion, up 14% year-over-year, with adjusted EBITDA of $145 million, an 11% increase [31] - Sustainable Technology Solutions (STS) revenues reached $550 million, a 12% increase, with adjusted EBITDA of $124 million, up 20% [32] - MTS ended the quarter with a 1.0 times book-to-bill ratio, while STS had a book-to-bill ratio of 1.1 times [31][32] Market Dynamics - KBR is experiencing a shift in focus from energy transition projects to energy security initiatives in certain geographies, particularly due to affordability issues [46] - The company maintains a strong position in the military space market, highlighted by a recent $176 million contract win [21] - KBR's international operations are well-positioned to capture geographical shifts in energy markets, particularly in the global South [20][23] Company Strategy and Industry Competition - KBR is focused on executing its growth strategy, increasing bid volumes, and winning new contracts, while maintaining a balanced and resilient business portfolio [41][42] - The company is committed to disciplined capital allocation, returning record levels of capital to shareholders through buybacks and dividends [9][34] - KBR is actively pursuing bolt-on acquisitions that align with its strategic priorities, particularly in government and sustainable technology sectors [75][76] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the financial outlook for 2025, reaffirming guidance for revenues between $8.7 billion and $9.1 billion and adjusted EBITDA of $950 million to $990 million [38][39] - The company is monitoring geopolitical situations, particularly troop support in Eastern Europe, but has not observed significant impacts on operations [39][92] - KBR's diversified global mix of business positions it well to navigate economic uncertainties and capitalize on strong secular growth trends [25][26] Other Important Information - KBR achieved a record low total recordable incident rate of 0.05 in 2024, significantly lower than the national average [6][7] - The company ended the quarter with over $20 billion in backlog and options, indicating strong future revenue potential [20][104] Q&A Session Summary Question: Can you provide more color on the backlog growth and energy transition delays? - Management noted a global thematic shift towards energy security over energy transition due to affordability issues, but remains confident in the STS portfolio [46][47] Question: How confident are you in mid-single-digit organic growth for MTS? - Management highlighted a strong alignment with defense budget priorities and increased funding for human space exploration, indicating confidence in growth drivers [49][50] Question: What is the status of the $2 billion in awards under protest? - Management acknowledged a trend of protests in government awards but expects resolutions in the second half of the year [53][55] Question: How is HomeSafe performing during the peak moving season? - Management reported increased customer satisfaction rates and a strong relationship with Transcom, indicating positive performance expectations [56][58] Question: Can you provide insights on LNG project timelines? - Management indicated that LNG projects are at various stages, with ongoing work in the U.S., Indonesia, and Oman, allowing for flexibility in resource allocation [84][86] Question: What is the outlook for the ammonia industry? - Management confirmed a strong ammonia market with several projects focused on fertilizer usage, indicating a positive outlook for this segment [99]

KBR (KBR) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Speaker0 Hello, everyone, and thank you for joining us for today's KBR's First Quarter twenty twenty five Earnings Conference Call. My name is Drew, and I'll be the operator today. During today's call, after the prepared remarks, there will be a Q and A session. It's now my pleasure to hand over to Jamie DeBray to begin. Please go ahead when you're ready. Speaker1 Thank you. Good afternoon, and welcome to KBR's first quarter fiscal twenty twenty five ...

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KBR Inc. (KBR) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.36%. A quarter ago, it was expected that this the engineering, construction company would post earnings of $0.83 per share when it actually produced earnings of $0.91, delivering a surprise of 9.64%.Over the last four q ...

Jacobs Fiscal 2025 Second Quarter Results May 6, 2025 DISCLAIMER Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will ...