Core Insights - Jacobs has been selected to lead the engineering design for a significant coastal storm surge barrier system known as The Gate, part of the Coastal Texas Project, aimed at enhancing resilience against hurricanes and rising sea levels [1][2][3] Project Overview - The Bolivar Roads Gate System will span across Bolivar Roads, providing essential protection for over six million residents and safeguarding approximately $800 billion in regional assets [2][3] - The project is a collaboration between the Gulf Coast Protection District, the U.S. Army Corps of Engineers, and the Texas General Land Office, supported by nearly $1 billion in state funding, marking it as the most ambitious coastal resiliency effort in U.S. history [3] Benefits and Impact - The storm surge barrier is expected to lower recovery costs from storm damage, protect jobs linked to the region's port and industrial activities, and preserve sensitive ecosystems such as wetlands and oyster reefs [4] - Jacobs anticipates that the project will integrate advanced sector gates to manage storm surges while allowing maritime traffic, utilizing cutting-edge digital modeling for long-term operational reliability [3][4] Company Profile - Jacobs operates with approximately $12 billion in annual revenue and a workforce of nearly 43,000, providing comprehensive services across various sectors including energy, environmental, and transportation [6]

Core Insights - Colliers has acquired Ramos Consulting Services, enhancing its capabilities in the U.S. public transportation sector [1][2] - The acquisition allows Ramos CS's leadership to continue managing the transit business in California while becoming significant shareholders in Colliers Engineering [1][3] Company Overview - Colliers is a global diversified professional services and investment management company with $5.5 billion in annual revenues and $108 billion in assets under management [4] - The company operates through three main platforms: Real Estate Services, Engineering, and Investment Management, and has a proven business model that delivers approximately 20% compound annual returns for shareholders [4] Ramos Consulting Services - Founded in 2008, Ramos CS has supported over $20 billion in capital programs across transit, transportation, and public works in California [2] - The firm employs 50 professionals and is recognized as a trusted advisor to public transportation agencies [2] Strategic Implications - The acquisition is expected to strengthen Colliers' infrastructure capabilities and allow for the undertaking of larger, more complex projects [3] - Both companies express alignment in their commitment to technical excellence, culture, and client service, indicating a strong potential for collaboration [3]

Core Viewpoint - Bowman Consulting Group Ltd. will release its financial results for Q4 and full year 2025 on March 4, 2026, after market close, and will provide 2026 financial guidance during a conference call on March 5, 2026 [1]. Company Overview - Bowman Consulting Group Ltd. is a national engineering services firm headquartered in Reston, Virginia, specializing in infrastructure solutions for customers involved in the built environment [3]. - The company employs over 2,500 individuals and operates 100 offices across the United States, offering a range of services including planning, engineering, geospatial, construction management, commissioning, environmental consulting, and land procurement [3]. - Bowman trades on the Nasdaq under the symbol BWMN [3].

Financial Data and Key Metrics Changes - Adjusted EPS grew 15% to $1.53, supported by robust 8% net revenue growth and solid underlying margin performance [4][11] - Gross revenue increased 12% year-over-year, and adjusted net revenue grew by more than 8% [10] - Consolidated backlog was up 21% year-over-year to a record $26.3 billion, with trailing 12-month book-to-bill rising to 1.4x [11][12] - Free cash flow for Q1 was $365 million, supported by solid working capital performance [15] Business Line Data and Key Metrics Changes - Life sciences and advanced manufacturing net revenue grew 10% in Q1, driven by strong award activity in data centers and semiconductor sectors [12][13] - Critical infrastructure net revenue increased 8% over Q1 2025, with robust growth in transportation, particularly in rail and aviation [13] - Water and environmental net revenue growth increased sequentially to 4%, driven by high single-digit growth in water [13][14] Market Data and Key Metrics Changes - International business grew over 9% year-over-year, with broad-based growth in Europe, the Middle East, and APAC [23] - The company expects environmental services performance to improve as it moves into the second half of the fiscal year [14][28] Company Strategy and Development Direction - The acquisition of the remaining stake in PA Consulting is seen as a key accelerant in the strategy to redefine the asset life cycle [4][10] - The company aims to simplify its structure and produce predictable, high-quality earnings over the long term [10] - Focus on leveraging digital consulting, innovation, and AI advisory to enhance service offerings [4][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the updated guidance due to strong performance and backlog growth, indicating a positive outlook for FY 2026 [4][17] - The company anticipates that the acquisition of PA Consulting will be accretive to adjusted EPS in the first 12 months following closing [18] - Management noted that the velocity of private sector work and strong demand in key markets are driving confidence in achieving higher revenue growth [23][24] Other Important Information - The company announced a quarterly dividend increase from $0.32 to $0.36 per share, a 12.5% increase [16] - The net leverage ratio currently stands just below 0.8x on LTM adjusted EBITDA, well below the target range of 1.0x-1.5x [16] Q&A Session Questions and Answers Question: Outlook considering potential government shutdown and macroeconomic factors - Management indicated that the velocity of backlog and strong wins in life sciences and advanced manufacturing are key drivers for revenue guidance, with confidence stemming from international business growth [23][24] Question: Environmental services performance and demand drivers - Management identified three key factors driving improvement: larger government programs, transition of disaster relief work to state and local levels, and increased private sector demand [26][28] Question: Backlog growth and project complexity - Management confirmed that the risk profile remains unchanged, utilizing the same EPCM delivery model as in the past [79] Question: PA Consulting acquisition and capital deployment - Management clarified the accounting and economic ownership differences related to the acquisition, emphasizing expected accretive earnings and synergies [82][85] Question: Project pipeline and AI impact - Management highlighted strong pipeline growth across core markets, with AI enabling faster project delivery and improved client outcomes [90][94]

Financial Data and Key Metrics Changes - Adjusted EPS grew 15% to $1.53, supported by robust 8% net revenue growth and solid underlying margin performance [4][11] - Gross revenue increased 12% year-over-year, and adjusted net revenue grew by more than 8% [10] - Consolidated backlog was up 21% year-over-year to a record $26.3 billion, with trailing 12-month book-to-bill rising to 1.4x [11][12] - Free cash flow for Q1 was $365 million, with a strong underlying performance despite a favorable cash timing item [15][16] Business Line Data and Key Metrics Changes - Life sciences and advanced manufacturing net revenue grew 10% in Q1, driven by strong award activity in data centers and semiconductor sectors [12][13] - Critical infrastructure net revenue increased 8% over Q1 2025, with robust growth in transportation, particularly in rail and aviation [13] - Water and environmental net revenue growth increased sequentially to 4%, driven by high single-digit growth in water [13][14] Market Data and Key Metrics Changes - International business grew over 9%, with broad-based growth in Europe, the Middle East, and APAC [23] - The company is seeing a strong demand for integrated consulting and delivery approaches, particularly in critical infrastructure [9] Company Strategy and Development Direction - The acquisition of the remaining stake in PA Consulting is seen as a key accelerant in the strategy to redefine the asset life cycle [4][10] - The company aims to simplify its structure and produce predictable, high-quality earnings over the long term [10] - Focus on leveraging digital consulting, innovation, and AI advisory to enhance service offerings and drive growth [4][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the updated guidance, citing strong execution and secular growth tailwinds [20] - The company anticipates continued growth in the life sciences and advanced manufacturing sectors, particularly in the second half of the fiscal year [12][14] - Management noted that the government shutdown did not impact their performance, providing confidence in their revenue range [23][24] Other Important Information - The company announced a 12.5% increase in its quarterly dividend from $0.32 to $0.36 per share [16] - The net leverage ratio currently stands just below 0.8x on LTM adjusted EBITDA, well below the target range of 1.0x-1.5x [16] Q&A Session Summary Question: Outlook considering potential government shutdown - Management indicated that the backlog's burn profile and strong wins in life sciences and advanced manufacturing are key drivers for confidence in guidance [23][24] Question: Environmental services business performance - Management highlighted three factors driving improvement: government contracts, disaster relief work transitioning to state and local levels, and increased private sector demand [25][26][28][29] Question: Backlog growth and project complexity - Management confirmed that the risk profile remains unchanged and that they are utilizing the same risk management strategies as in previous years [78][79] Question: PA Consulting acquisition valuation - Management clarified the accounting and economic ownership differences and emphasized the expected accretive nature of the acquisition [81][84] Question: Project pipeline growth by end markets - Management reported strong pipeline growth across water and environmental, life sciences, and critical infrastructure sectors, with varying growth rates [90]

Financial Data and Key Metrics Changes - Adjusted EPS grew 15% to $1.53, supported by robust 8% net revenue growth and solid underlying margin performance [4][11] - Gross revenue increased 12% year-over-year, and adjusted net revenue grew by more than 8% [10] - Consolidated backlog was up 21% year-over-year to a record $26.3 billion, with trailing 12-month book-to-bill rising to 1.4 times [11][12] - Free cash flow for Q1 was $365 million, with a strong working capital performance [15] Business Line Data and Key Metrics Changes - Life sciences and advanced manufacturing net revenue grew 10% in Q1, driven by strong award activity in data centers and semiconductor sectors [12][13] - Critical infrastructure net revenue increased 8% over Q1 2025, with robust growth in transportation, particularly in rail and aviation [13] - Water and environmental net revenue growth increased sequentially to 4%, driven by high single-digit growth in water [13][14] Market Data and Key Metrics Changes - International business grew over 9% year-over-year, with broad-based growth in Europe, the Middle East, and APAC [23] - The company expects environmental services performance to improve as larger programs from the US Department of Defense come through [27] Company Strategy and Development Direction - The company announced an agreement to acquire the remaining stake in PA Consulting, viewing it as a key accelerant in redefining the asset life cycle [4][10] - The focus remains on strong execution, profitable growth, and continued capital returns, with an increased outlook for net revenue, adjusted EPS, and free cash flow margin [5][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the revenue guidance, citing strong private sector work and a robust backlog [24] - The company anticipates that the acquisition of PA Consulting will be accretive to adjusted EPS in the first 12 months following closing [18] - Management noted that AI and digital enablement are driving efficiencies and growth in both top line and bottom line [72] Other Important Information - The company raised its quarterly dividend from $0.32 to $0.36 a share, marking a 12.5% increase [16] - The net leverage ratio currently stands just below 0.8x on LTM adjusted EBITDA, well below the target range [16] Q&A Session All Questions and Answers Question: Outlook considering government shutdown concerns - Management indicated that the backlog's burn profile and strong wins in life sciences and advanced manufacturing are driving confidence in the revenue range [23][24] Question: Environmental services business recovery - Management identified three drivers for recovery: larger programs from the US Department of Defense, transfer of disaster relief work to state and local levels, and increased private sector demand [27][28] Question: Backlog growth and project complexity - Management confirmed that the risk profile remains unchanged and that they are utilizing the same EPCM delivery model as in the past [81] Question: PA Consulting acquisition valuation - Management clarified the accounting and economic ownership differences and emphasized the expected accretive nature of the acquisition [82][86] Question: Project pipeline growth by core end markets - Management reported double-digit pipeline growth in water and environmental, and life sciences and advanced manufacturing, with high single digits in critical infrastructure [92]

Group 1 - Leidos Holdings, Inc. (LDOS) has agreed to acquire ENTRUST Solutions Group for nearly $2.4 billion, with the transaction expected to close by the end of Q2 2026 [1][9]. - The acquisition will significantly expand Leidos' utility infrastructure footprint, effectively doubling its $600 million energy infrastructure engineering business and enhancing its role in grid modernization [2][9]. - The deal aligns with Leidos' NorthStar 2030 strategy, focusing on secure and resilient energy infrastructure, supported by an anticipated $1 trillion in U.S. utility investment over the next decade [3]. Group 2 - The acquisition is expected to improve Leidos' competitive positioning in a growing market, driven by rising demand for grid reliability, renewable integration, and climate resilience, supporting long-term revenue growth and earnings durability [4]. - The computer and technology sector has seen a surge in mergers and acquisitions, driven by rapid innovation and competition, allowing companies to scale operations and enhance capabilities [5][6]. - Other recent acquisitions in the sector include IonQ's agreement to acquire SkyWater Technology for nearly $1.8 billion, aimed at accelerating its quantum computing roadmap [6]. Group 3 - Leidos' stock has gained 17.3% over the past six months, contrasting with a 10.1% decline in the industry [11]. - Currently, Leidos holds a Zacks Rank of 3 (Hold) [12].

Core Insights - Tetra Tech, Inc. (TTEK) reported adjusted earnings of 35 cents per share for Q1 fiscal 2026, exceeding the Zacks Consensus Estimate of 31 cents and management's guidance of 30-33 cents, while matching the year-ago figure [1][9] Revenue & Segmental Performance - Tetra Tech generated revenues of $1.21 billion, a year-over-year decrease of 14.8%, but surpassed management's guidance of $950 million-$1.0 billion and the Zacks Consensus Estimate of $973 million [2] - Adjusted net revenues were $1.04 billion, down 13.4% year over year [2] - The backlog at the end of Q1 was $3.95 billion, down 27.3% year over year [3] - Revenues from U.S. Federal customers increased by 7% year over year, while U.S. Commercial sales decreased by 3% [4] - U.S. State and Local sales rose by 10% year over year, and International sales increased by 13% year over year [5] - Government Services Group segment revenues were $432.1 million, down 33.2% year over year, while Commercial/International Services Group segment revenues were $605.1 million, up 10% year over year [5] Margin Profile - Subcontractor costs totaled $173.5 million, down 22.3% year over year, while other adjusted costs of revenues were $816.8 million, down 16.3% [6] - Adjusted operating income decreased by 2.7% year over year to $133.5 million, with an adjusted margin increase of 140 basis points to 12.9% [7] Balance Sheet and Cash Flow - Cash and cash equivalents at the end of Q1 were $269.4 million, up from $167.5 million at the end of fiscal 2025, while long-term debt increased to $834.3 million from $763.4 million [8] - Net cash generated from operating activities was $72.3 million, compared to $13.1 million in the prior year [10] Shareholder-Friendly Policies - Tetra Tech distributed dividends totaling $16.9 million in Q1 fiscal 2026, an increase from $15.5 million in the previous year, and repurchased shares worth $50 million, up from $25 million [11] Fiscal 2026 Outlook - For fiscal 2026, Tetra Tech anticipates net revenues in the range of $4.15-$4.30 billion, higher than the previous projection of $4.05-$4.25 billion, but lower than the $4.62 billion reported in fiscal 2025 [12] - Adjusted earnings are projected to be $1.46-$1.56 per share, compared to the previous guidance of $1.40-$1.55 [12] - For Q2 fiscal 2026, management estimates net revenues of $975 million-$1.025 billion and adjusted earnings of 30-33 cents per share [13]

Contact: Lambert by LLYC Jennifer Hurson, 845-507-0571, [email protected] SOURCE Belcan About Belcan Belcan, a Cognizant company, is a global supplier of design, software, manufacturing, supply chain, information technology, and digital engineering solutions to the aerospace, defense, space, government services, automotive, and industrial markets. Belcan engineers better outcomes for customers – from jet engines, airframe, and avionics to heavy vehicles, automobiles, and cybersecurity. Belcan takes a partne ...

Earnings Call Q1 26 January 29, 2026 Dan Batrack, Chairman & CEO Roger Argus, President & CEO-Designate Steve Burdick, Executive VP & CFO Forward-Looking Statements & Non-GAAP Financial Measures All statements in this communication other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investmen ...