Jacobs Solutions Inc.

Good day, and thanks for standing by. Welcome to the Jacobs Fiscal Fourth Quarter 2021 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. If you require further assistance, please press star zero. I would now like to hand the conference over to your speaker today, Mr. Jonathan Doros of Investor Relations. Thank you. Please go ahead.

Thank you. Good morning to all. Our earnings announcement and 10-K were filed this morning. and we have posted a copy of this slide presentation on our website, which we will reference during the call. During this presentation, we will be making forward-looking statements, including the anticipated timing of the impact of the recently signed U.S. infrastructure bill, benefits of our strategic investment in PA consulting, and our financial outlook, among others. I would like to refer you to our forward-looking statement disclaimer, which is included on slide two, regarding these and other forward-looking statements. During this presentation, we will be referring to certain non-GAAP financial measures. Please refer to slide two of the presentation for more information on these figures. In addition, during the presentation, we will discuss comparisons of current results to prior periods on a pro forma basis. See slide two for more information on the calculation of these pro forma metrics. For pro forma comparisons, current and prior periods include the results of recent acquisitions in the PA Consulting Festival. We are also providing pro forma net revenue comparisons, which also exclude the impact of the extra week in Q4 fiscal 2020. Turning to the agenda on slide three, speaking on today's call will be Jacobs Chair and CEO, Steve Dimitrio, President and Chief Operating Officer, Bob Pergata, and President and Chief Financial Officer, Kevin Berryman. Steve will begin by updating the progress we're making against our strategy and the future of ESG at Jacobs. Bob will then review our performance by line of business, and Kevin will provide a more in-depth discussion of our financial results, followed by an update on our Focus 2023 and M&A initiatives, as well as a review of our balance sheet and cash flow. Finally, Steve will provide the detail on our updated outlook, along with some closing remarks, and then we'll open the call for your questions. In the appendix of this presentation, we provided additional ESG-related information, including examples of our leading ESG solutions. With that, I will now pass it over to Steve DiMuccio, Chair and CEO.

Thank you for joining us today to discuss our fourth quarter and fiscal year 2021 business performance and key initiatives. Turning to slide four, before I review our results, I'd like to share that we're in the final stages of completing our new strategy. We will be hosting an investor event the week of March 7th for a deep dive of the next phase of our Jacobs transformation. Three key initiatives have emerged. First, we're putting in place a purpose-driven roadmap rooted in our values and strong culture to maximize our next stage of growth. Secondly, we identified and have aligned investment resources to capture three multi-decade growth opportunities, global infrastructure modernization, climate response, and the digitization of industry. And third, we're taking a transformational approach to executing against these opportunities as we are unlocking the innovation engine at Jacobs, expanding our technology ecosystem while accelerating our trajectory of profitable growth and durable cash flow generation. We look forward to illuminating this strategy at our upcoming investor event. Now turning to our financial results, I'm pleased with our strong fourth quarter and fiscal year performance with net revenue increasing 7% year over year. Adjusted EBITDA grew 12% during the quarter and 18% for the full year. Backlog ended the fourth quarter up 12% year over year and up 7% on a pro forma basis. PA Consulting continued to post exceptional performance with 41% revenue growth. More importantly, PA delivered this growth while maintaining adjusted operating profit margins of 24%. For the full year, PA revenues surpassed $1 billion, far exceeding our deal investment model. As we look at overall Jacobs growth going forward, we now have certainty surrounding the unprecedented U.S. infrastructure funding with the passage of the $1.2 trillion Infrastructure and Jobs Act last week. And more broadly, global infrastructure modernization and national security needs are accelerating as our government and commercial clients address the challenges of climate change, advancement of their digitization strategies, and increasing cyber threats. On top of that, our advanced facilities business is expected to show significant growth, driven by the need for additional semiconductor manufacturing capacity and post-pandemic life sciences priorities. Given these strong growth dynamics, we're introducing fiscal 2022 guidance for double-digit adjusted EBITDA growth. Looking beyond 2022, we expect our strong organic growth to result in approximately $10 per share of adjusted EPS in fiscal year 2025. Turning to slide five, as we reflect on climate change, it is globally accepted that humanity is at a critical juncture in our efforts to limit global warming. Jacobson, PA, participated at the recent UN Climate Change Conference of the Parties, COP26, in Glasgow to demonstrate our commitment to reinvent tomorrow with immediate and sustained action in the transition to a net zero economy. We stood alongside other business, financial, and government leaders, as well as activists and students, to make sure our voice was heard. We engaged in activities to accelerate solutions to ensure the world stays on track to meet the critical 1.5 degrees Celsius trajectory while preparing to adapt to the changes already locked in from climate change. As we move to slide six, given the nature of our business, it's clear that Jacob's greatest opportunity to positively address climate change comes from the sustainable and resilient solutions that we co-create and deliver in partnership with our clients. To spearhead this effort, we have established a new Office of Global Climate Response at ESG to ensure that sustainability is woven into all of our solutions across markets and geographies. We are accelerating our established partnerships with the public and private sector to advance net zero carbon outcomes, climate resilience, natural and social capital, as well as ESG business transformation in alignment with the United Nations Sustainable Development Goals. Annually, we generate approximately $5 billion of ESG-related revenue and expect to grow significantly over the next several years, driven by strong capability in energy transition, decarbonization, climate adaptation, and natural resource stewardship. Our culture is a competitive differentiator. Our people have the knowledge, curiosity, and the trust of our clients to achieve our purpose to create a more connected, sustainable world. With that, I'll turn the call over to Bob Pregata to provide more detail by line of business.