Core Insights - Fluor Corporation reported its financial results for Q3 2025, highlighting a commitment to disciplined project delivery and value creation for clients and shareholders [2][6]. Financial Performance - Revenue for Q3 2025 was $3.4 billion, down 18% year-over-year, primarily due to a $653 million reversal related to the Santos ruling [7]. - The company recorded a GAAP net loss of $697 million, which includes a $653 million charge for the Santos ruling and a $401 million reduction in NuScale's share price [7]. - Adjusted EBITDA was $161 million, reflecting a 29% increase year-over-year, while adjusted EPS was $0.68, up 33% year-over-year [7][22]. - General and administrative expenses increased by 16% year-over-year to $43 million, which included $12 million in restructuring costs [7]. Guidance and Outlook - The company revised its adjusted EBITDA guidance to $510 to $540 million and adjusted EPS guidance to $2.10 to $2.25 per share [5]. - Fluor's backlog stood at $28.2 billion, with 82% being reimbursable, down 10% year-over-year [6][21]. Segment Performance - Urban Solutions reported a profit of $61 million with revenue increasing to $2.3 billion, up from $1.9 billion a year ago [9]. - Energy Solutions experienced a loss of $533 million, with revenue decreasing to $262 million from $1.4 billion due to the Santos litigation [10]. - Mission Solutions reported a profit of $34 million, with revenue increasing to $761 million from $635 million a year ago [11]. Shareholder Returns - The company repurchased $70 million in shares during Q3 and is targeting an additional $800 million through February 2026 [6]. - Fluor announced a comprehensive agreement for the conversion and monetization of its remaining stake in NuScale, expecting full monetization by the end of Q2 2026 [2][6].

Financial Data and Key Metrics Changes - In Q3 2025, the company achieved a total revenue growth of 14% and an organic revenue growth of 9%, excluding the impact from a confidential contract [5][17] - Adjusted EBITDA margin expanded by 60 basis points to 9.8%, driven by improved program performance and accretive acquisitions [18][24] - The company generated $163 million in cash flow from operations, resulting in a free cash flow conversion of 135% for the quarter [20][24] Business Line Data and Key Metrics Changes - Critical Infrastructure revenue increased by 18% year-over-year, with organic growth of 13%, driven by recent contract wins and growth on existing contracts [19] - Federal Solutions revenue increased by 9% year-over-year, with organic growth of 5%, excluding the confidential contract [19] - Adjusted EBITDA for Critical Infrastructure increased by 83% year-over-year, with an adjusted EBITDA margin of 10.3% [19] Market Data and Key Metrics Changes - The company reported a book-to-bill ratio of 1.0 times for the quarter and trailing twelve months, maintaining a streak since its IPO [6][21] - The total backlog at the end of Q3 was nearly $9 billion, with 72% funded, and a funded backlog of $6.4 billion, the highest since the IPO [16][22] - The company has a $58 billion pipeline, including over 115 opportunities worth $100 million or more [16][42] Company Strategy and Development Direction - The company is focused on capitalizing on long-term macro trends in national security and infrastructure, with a strong emphasis on operationally relevant solutions [4][12] - Recent acquisitions, particularly in the water market, are aimed at enhancing capabilities and expanding presence in high-growth areas [11][49] - The company expects mid-single-digit organic revenue growth excluding the confidential contract for the foreseeable future [12][47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities, citing strong program execution and a robust pipeline of large opportunities [12][24] - The company anticipates a surge in activity once the government reopens, as there is a significant backlog of contracting actions [94][96] - The FAA air traffic control system contract is expected to be awarded imminently, with the company well-positioned to capitalize on this opportunity [39][90] Other Important Information - The company was recognized as one of the world's best companies by Time and received the Diamond Award from ACEC New York for its work on the Brooklyn Bridge Rehabilitation Project [12] - The company completed its third accretive acquisition of the year in the strategic water market [17] Q&A Session Summary Question: Revenue from the confidential contract in Q3 and its impact on Q4 guidance - Management confirmed that there was some revenue from the confidential contract in Q3, but it was small and immaterial, with expectations for Q4 to be similar [27] Question: Critical Infrastructure margins and future expectations - Management indicated that strong program execution has led to consistent double-digit margins in Critical Infrastructure, with expectations for continued solid performance [29][31] Question: Top line performance and federal customer capacity - Management noted that timing issues affected Q3 performance, with expectations for a recovery in Q4 as delays are resolved [35][37] Question: FAA contract and its implications - Management confirmed that the FAA air traffic control system contract is not impacted by the government shutdown and is expected to be awarded soon [39] Question: Growth outlook for Federal Solutions - Management projected high single-digit growth for Federal Solutions, with a strong pipeline and backlog supporting this outlook [76] Question: Impact of the government shutdown on operations - Management stated that 50% of the business is not federal government-related, and a surge in activity is expected once the government reopens [94][96]

Q3 2025 Financial Performance - Total revenue reached $1622 million, reflecting a 14% increase excluding the confidential contract [8, 12] - Organic revenue growth, excluding the confidential contract, was 9% [7, 15] - Adjusted EBITDA margin expanded by 60 basis points to 98% [7, 13] - Cash flow from operations amounted to $163 million, with a free cash flow conversion of 135% [7, 8] - The book-to-bill ratio was 10x, maintaining a trailing 12-month ratio of 10x or greater since the IPO [7, 8] Segment Performance - Critical Infrastructure revenue increased by 18% to $833 million, with adjusted EBITDA margin expanding by 360 basis points to 103% [17] - Federal Solutions revenue decreased by 29% to $789 million, with adjusted EBITDA margin decreasing by 170 basis points to 92% [19] Contract Wins and Backlog - The company secured four contract wins exceeding $100 million in Q3 2025 [10] - Backlog increased by $48 million to $88 billion, with 72% being funded [10] - The company has approximately $11 billion worth of contract wins not yet included in the backlog [10] Fiscal Year 2025 Guidance - The company is modifying its FY25 revenue outlook to $64 billion - $65 billion, representing a -4% growth and -8% organically, but reiterating adjusted EBITDA guidance of $600 million - $630 million and cash flow guidance at the mid-point [7, 36]

Core Insights - Parsons Corporation reported a 10% decrease in total revenue for Q3 2025, amounting to $1.6 billion, with a 14% decline on an organic basis. Excluding a confidential contract, total revenue growth was 14% and organic growth was 9% [4][7] - The company achieved a 60 basis points margin expansion, with adjusted EBITDA margin increasing to 9.8% from 9.2% year-over-year, despite a 5% decrease in adjusted EBITDA to $158 million [5][8] - Parsons secured significant defense contracts and maintained a strong backlog of $8.8 billion, with 72% funded, marking the highest level since its IPO [7][12] Financial Performance - Total revenue decreased by $188 million, or 10%, compared to Q3 2024, with operating income down 6% to $108 million and net income down 11% to $64 million [4][7] - GAAP diluted EPS was $0.59, down from $0.65 in the prior year [4][5] - Adjusted EBITDA, including noncontrolling interests, was $158 million, a 5% decrease year-over-year, while adjusted diluted EPS fell to $0.86 from $0.95 [5][8] Segment Analysis Critical Infrastructure Segment - Revenue increased by $129 million, or 18%, year-over-year, driven by organic growth of 13% and contributions from recent acquisitions [6] - Adjusted EBITDA for this segment rose by 83% to $86 million, with an adjusted EBITDA margin of 10.3% [6][8] Federal Solutions Segment - Revenue decreased by $317 million, or 29%, year-over-year, with adjusted EBITDA down 40% to $73 million [9][10] - Excluding the confidential contract, revenue increased by 9%, driven by growth in key markets [9] Key Performance Indicators - The book-to-bill ratio was 1.0x for Q3 2025, maintaining a streak of 1.0x or greater since the IPO [7][12] - Total backlog increased to $8.8 billion, with a funded backlog of $6.4 billion, the highest since the company's IPO [7][12] Contract Wins and Acquisitions - Parsons won four contracts worth over $100 million each during Q3 2025, including significant defense and infrastructure projects [11] - The company completed an acquisition of Applied Sciences Consulting, enhancing its capabilities in water and stormwater solutions [13][18] Fiscal Year 2025 Guidance - The company modified its fiscal year 2025 revenue outlook to $6.4 billion - $6.5 billion, while reiterating adjusted EBITDA and cash flow guidance [14][15]

Core Viewpoint - Oceaneering International, Inc. is set to participate in several investor conferences in the fourth quarter of 2025, highlighting its focus on engaging with institutional investors and showcasing its technological capabilities in various sectors [1][3]. Group 1: Upcoming Conferences - Oceaneering will attend the Bank of America Securities Global Energy Conference in Houston, TX on November 11, 2025, where CFO Alan Curtis and Senior Director of Investor Relations Hilary Frisbie will meet with institutional investors [3]. - The company will also participate in the Baird Defense & Government Conference in Tysons Corner, VA on November 18, 2025, with President and CEO Rod Larson presenting on the Aerospace and Defense Technologies segment, and Bill Merz participating in a panel discussion on autonomous maritime technology [3]. - Additionally, Oceaneering will be present at the TD Cowen Energy Conference in New York, NY on November 18-19, 2025, where Alan Curtis will join a panel discussion on Offshore Services and meet with institutional investors [3]. Group 2: Company Overview - Oceaneering is a global technology company that provides engineered services and products, as well as robotic solutions, to various industries including offshore energy, defense, aerospace, and manufacturing [2]. - The company emphasizes its commitment to delivering innovative solutions in a dynamic market environment [6].

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].