Summary of Jacobs Solutions Conference Call Company Overview - **Company**: Jacobs Solutions (NYSE:J) - **Date**: February 17, 2026 - **Key Speakers**: Bob Pragada (CEO), Venk Nathamuni (CFO) Key Industry Insights Financial Performance - **Q1 Growth**: Achieved an organic top-line growth of **8.2%** and a book-to-bill ratio of **2.0**, indicating strong demand and pipeline growth [2][4] - **Margin Expansion**: Continued margin expansion trend with an EBITDA margin increase of **110 basis points** in fiscal 2025 and a forecasted increase of **50-80 basis points** for fiscal 2026 [58][60] Market Segments - **Data Centers**: Significant growth in data center bookings, contributing to **20%** of overall bookings in Q1, with broad-based growth across water, semiconductors, and transportation sectors [11][12] - **Life Sciences and Advanced Manufacturing**: Strong growth driven by advancements in AI and chip manufacturing, with potential for double-digit revenue growth [110][148] - **Water Sector**: Expected high single-digit growth, supported by large multi-year projects [88][89] - **Environmental Sector**: Experienced some softness due to regulatory volatility but is seeing a rebound in pipeline growth [80][85] Competitive Advantages - **Technology Integration**: Jacobs is leveraging AI and data analytics to enhance operational efficiency and expand serviceable available market (SAM) [18][29] - **Decades of Experience**: The company has a significant advantage due to its long history of unstructured data, which is being transformed into structured data for better decision-making [47][56] - **Global Delivery Model**: The use of global delivery centers is expected to drive margin expansion, particularly in life sciences and advanced manufacturing projects [69][70] Strategic Initiatives Acquisition of PA Consulting - Jacobs is acquiring the remaining **35%** of PA Consulting, which is expected to enhance growth opportunities and operational synergies, particularly in defense and security sectors [171][186] - PA Consulting's expertise in energy, utilities, and health sciences aligns well with Jacobs' existing capabilities [186] Future Growth Prospects - **Geographic Expansion**: Strong growth anticipated in the Middle East, India, and Australia, driven by infrastructure projects and local demand [193][200] - **Free Cash Flow**: Guidance for free cash flow margin increased to **7-8.5%** for fiscal 2026, with a long-term target of **10%+** by 2029 [214][215] Additional Insights - **Client Demand**: Clients are increasingly asking for faster project delivery, particularly in the context of climate change and energy transition [40][46] - **Pricing Strategy**: Pricing remains stable, with opportunities for margin improvement through efficiencies rather than significant price increases [62][65] - **Emerging Trends**: The integration of AI in project delivery and the importance of regulatory compliance in various sectors are critical for maintaining competitive advantage [156][159] Conclusion Jacobs Solutions is positioned for continued growth through strategic acquisitions, technological advancements, and a focus on high-demand sectors such as life sciences, advanced manufacturing, and infrastructure. The company's strong financial performance and proactive approach to market dynamics suggest a positive outlook for the coming years.

© 2026 Fluor. YEAR END 2025 RESULTS FEBRUARY 17, 2026 © 2025 Fluor. SUNOCO MARINER EAST LNG // PENNSYLVANIA, U.S.A. 1 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, including statements relating to resolution of outstanding claims or ...

Board initiates search process, Mr. Bowman expected to remain CEO until successor appointed Gary Bowman, Founder & CEO of Bowman Bowman announces retirement plan for Founder and CEO Gary Bowman. RESTON, Va., Feb. 17, 2026 (GLOBE NEWSWIRE) -- Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering services and program management firm, today announced that its founder and chief executive officer Gary Bowman plans to retire as CEO and resign as director later this year in connection with the ap ...

Group 1 - KBR Inc. is considered one of the most undervalued mid-cap stocks, with Citi lowering its price target to $53 from $57 while maintaining a Buy rating, anticipating solid results and growth potential in data center expenditures [1][7] - KBR was awarded the FEED contract for the Coastal Bend LNG project, a natural gas liquefaction and export facility on the Texas Gulf Coast, which will utilize advanced technologies to reduce greenhouse gas emissions [2][3] - The company will lead the FEED effort for the ISBL scope and support regulatory filings with the FERC, aiming to set a new standard for low-carbon LNG production through operational efficiency and reduced carbon intensity [3] Group 2 - KBR operates through two segments: Government Solutions and Sustainable Technology Solutions, providing scientific, technology, and engineering solutions globally [4]

Group 1 - The company has approved the establishment of a subsidiary in Guangdong Province, specifically in Maoming City, during the board meeting held on January 9, 2026 [1] - The subsidiary has completed its business registration and obtained a business license from the Maoming Market Supervision Administration [2] - The subsidiary is named "Zhenhai Petrochemical Engineering Co., Ltd. Guangdong Branch" and was officially established on February 12, 2026 [2] Group 2 - The subsidiary's business scope includes industrial engineering design services, engineering management services, technology consulting, and various sales activities related to machinery and chemical products [2] - The subsidiary is classified as a joint-stock company branch and is involved in both general and licensed business activities [2] - The responsible person for the subsidiary is Dong Haofeng [2]

Financial Data and Key Metrics Changes - For Q4 2025, the company generated revenues of $1.6 billion, up 5% year-over-year, with adjusted EBITDA of $245 million, reflecting a 6% increase [10][11] - Full-year internal revenue growth was solid at 5%, with commercial real estate segment net revenue up 7% [10][11] - Investment management ended the year with over $108 billion in assets under management, flat relative to September 30 [6][14] Business Line Data and Key Metrics Changes - Capital Markets revenues increased by 13%, driven by strong activity in the U.S., while leasing revenues rose by 3% [11][12] - Outsourcing solutions grew by 8%, with valuation practices contributing significantly [11] - Engineering segment net revenue was up 8%, supported by recent acquisitions, with a strong revenue backlog providing visibility for future growth [12][16] Market Data and Key Metrics Changes - The U.S. market showed strong performance, particularly in Capital Markets and leasing activities, while EMEA and Asia Pacific experienced modest growth [11][35] - The company expects low teens top-line growth in commercial real estate for 2026, with Capital Markets projected to grow in the high teens [16][63] Company Strategy and Development Direction - The company is focused on expanding its diversified platform and pursuing further acquisitions, with the recent acquisition of Ayesa Engineering expected to enhance growth opportunities [4][5] - AI is viewed as a productivity and growth enabler, helping to automate routine tasks and improve efficiency across all segments [8][9] - The company aims to maintain a strong partnership model, emphasizing inside ownership to align leaders with clients and shareholders [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with strong momentum and a healthy pipeline, expecting solid internal growth and contributions from recent acquisitions [7][16] - The company anticipates mid-teens growth across key operating metrics, driven by favorable trends in infrastructure and urbanization [16][63] Other Important Information - The company plans to maintain leverage at around 2x, with the recent acquisition expected to add approximately 0.7 turns of leverage on a pro forma basis [15][70] - Fundraising targets for 2026 are set between $6 billion and $9 billion, with several funds currently in the market [13][66] Q&A Session Summary Question: Organic growth in engineering - Management noted strong demand for services, with opportunities to increase pricing and a growing workforce to meet demand [19][20] Question: Capital allocation and share buybacks - Management indicated a preference for careful capital management, with no immediate plans for stock buybacks due to ongoing acquisitions [28] Question: Macro perspective on Capital Markets - Management does not expect rate cuts to impact their outlook, citing pent-up demand for transactions as a key driver for growth [35][36] Question: AI's impact on business - Management sees AI as a margin enhancer rather than a disruptor, emphasizing its role in improving efficiency and decision-making [72] Question: Ayesa acquisition and growth expectations - Management expects high single-digit organic growth for Ayesa, leveraging its expertise in high-demand markets [80][81] Question: Fund performance and fundraising - Fund performance has been strong, with the flagship fund exceeding benchmarks, aiding in fundraising efforts [67][68]

Financial Data and Key Metrics Changes - For Q4 2025, the company generated revenues of $1.6 billion, up 5% year-over-year, with overall internal growth for the quarter being essentially flat due to strong prior comparisons [10] - Adjusted EBITDA for the quarter was $245 million, reflecting a 6% increase over the previous year, in line with revenue growth [10] - The company's leverage declined to 2x as of December 31, benefiting from strong seasonal cash flows [15] Business Line Data and Key Metrics Changes - The commercial real estate segment net revenue increased by 7% in Q4, with Capital Markets revenues rising by 13%, primarily driven by strong activity in the U.S. [11] - Leasing revenues grew by 3%, led by the U.S. in office and industrial asset classes [11] - The engineering segment net revenue was up 8%, supported by recent acquisitions, while investment management net revenues increased by 6% [12] Market Data and Key Metrics Changes - The U.S. market continued to show strength, particularly in Capital Markets, which is expected to maintain high teens growth in 2026 [64] - EMEA and Asia Pacific markets experienced modest growth, with expectations for improvement in 2026 [36] Company Strategy and Development Direction - The company is focused on expanding its diversified platform and has recently agreed to acquire Ayesa Engineering, which will enhance growth avenues and strengthen its global presence [5] - The strategy emphasizes leveraging AI as a productivity and growth enabler, improving efficiency and margins while allowing professionals to focus on higher-value advisory services [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with strong momentum and a healthy pipeline, expecting solid internal growth and contributions from recent acquisitions [7] - The company anticipates mid-teens growth across its key operating metrics for 2026, driven by a recovery in Capital Markets and strong demand in engineering and investment management [16] Other Important Information - The company raised $2.1 billion in new capital commitments during Q4 and $5.3 billion for the full year, with a fundraising target of $6 billion to $9 billion for 2026 [13][66] - The integration costs in the investment management segment are expected to continue impacting margins through the first half of 2026 [12][32] Q&A Session Summary Question: Organic growth in engineering - Management noted strong demand for services and opportunities to increase pricing, with hiring ongoing to meet demand [19][20] Question: Capital allocation and share buybacks - Management indicated a preference for careful capital management and highlighted the focus on acquisitions rather than share buybacks at this time [29] Question: Macro perspective on Capital Markets - Management does not expect rate cuts to influence their outlook, citing pent-up demand for transactions as a key driver for growth [36] Question: AI's impact on business - Management views AI as a margin enhancer rather than a disruptor, emphasizing its role in improving efficiency and enabling professionals to focus on complex transactions [71][72] Question: Ayesa acquisition and future growth - Management highlighted the strategic importance of the Ayesa acquisition for expanding into new markets and leveraging existing capabilities [56][87]

Swedish engineering group Sandvik has agreed to acquire ThoroughTec Simulation, a South African company specialising in equipment simulators and simulation-based training for the mining industry. Financial terms of the deal have not been disclosed. The transaction is scheduled for completion in the second quarter of 2026 (Q2 2026), pending standard regulatory clearances. Under the agreement, ThoroughTec will be integrated into Sandvik’s Parts and Services division within its mining business area. Thor ...

Core Insights - Worley has secured a contract from Samsung C&T Corporation for detailed engineering services related to a CO₂ sequestration project in Qatar, aiming to permanently store approximately 4.3 million tonnes per annum (mtpa) of CO₂ [1][2] Group 1: Project Details - The engineering work will be conducted from Worley's office in Qatar, with support from its Global Integrated Delivery center in India and technical teams in Australia [2] - The QatarEnergy LNG CO₂ sequestration project is part of regional efforts to reduce greenhouse gas (GHG) emissions through permanent CO₂ storage [2] Group 2: Company Statements and Future Projects - Worley CEO Chris Ashton expressed pride in the collaboration with Samsung C&T, highlighting the company's capabilities in carbon capture, utilization, and storage (CCUS) [3] - In June 2025, Worley was selected by Glenfarne to provide engineering services and a final cost estimate for the Alaska LNG Pipeline project, which will support financial investment decisions [3] Group 3: Alaska LNG Pipeline Project - The Alaska LNG Pipeline project involves a 1,300 km natural gas pipeline from Alaska's North Slope to the southern coast near Anchorage, including a gas treatment facility and LNG import/export terminals [4] - The pipeline is expected to transport enough natural gas to meet local demand in Alaska while supplying the full 20 mtpa capacity of the export facility [4]

Financial Data and Key Metrics Changes - The company achieved a total revenue growth of 12% and an organic revenue growth of 8% for fiscal year 2025, excluding a confidential contract [4][24] - Adjusted EBITDA expanded by 60 basis points to a record margin of 9.6%, building on a previous expansion of 50 basis points in 2024 [4][25] - Free cash flow conversion reached 100%, exceeding the high end of the fiscal year 2025 cash flow guidance range [4][24] Business Line Data and Key Metrics Changes - Critical Infrastructure segment reported a 10% organic growth and a 15% increase in total revenue for the full year, with adjusted EBITDA increasing by 73% [4][27] - Federal Solutions segment experienced a 9% organic growth, but total revenue decreased by 20% due to the impact of a confidential contract [29][24] - The adjusted EBITDA margin for Critical Infrastructure reached 10.4%, while Federal Solutions saw a decrease to 8.7% [27][29] Market Data and Key Metrics Changes - The company reported strong demand in both North America and Middle East markets, with double-digit revenue growth in both regions for four consecutive years [17][18] - The backlog at the end of Q4 totaled $8.7 billion, with a funded backlog of $6.4 billion, representing a record high since the IPO [32] Company Strategy and Development Direction - The company aims to achieve mid-single digit or better annual organic revenue growth supplemented by accretive acquisitions, targeting double-digit adjusted EBITDA margins by 2028 [8][33] - The focus on integrated solutions and strategic contracts is expected to drive long-term shareholder value [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing a robust pipeline of opportunities and alignment with government spending priorities [36][20] - The company anticipates a favorable procurement environment and expects to achieve a book-to-bill ratio of over 1.0 in Federal Solutions starting in the first half of 2026 [43][63] Other Important Information - The company completed three acquisitions during the year and increased share repurchases while maintaining a strong balance sheet [4][5] - The acquisition of Applied Sciences Consulting and Altamira Technologies Corporation is expected to enhance the company's capabilities and market presence [15][16] Q&A Session Summary Question: Will CI margins continue to exceed expectations? - Management confirmed that legacy adjustments are behind them and expects continued margin expansion in Critical Infrastructure [40] Question: How is the order activity in Federal Solutions post-government shutdown? - Management noted a positive procurement environment and anticipates a book-to-bill ratio of over 1.0 for Federal Solutions in the first half of 2026 [42][43] Question: What is the outlook for the DroneArmor system's addressable market? - Management expressed excitement about the DroneArmor solution and its potential applications across various government sectors [49] Question: What is the demand for mega projects in the Middle East? - Management highlighted ongoing growth in the Middle East, particularly in urban development and defense sectors, with a focus on key projects tied to upcoming global events [51][53] Question: What are the largest program movers for 2026? - Key contracts include the Joint Cyber Hunt Kit and several significant projects in the Middle East, which are expected to ramp up in 2026 [78][79]