Jacobs Solutions Inc.

Hello everyone. Thank you for joining us and welcome to the Jacobs Fiscal Third Quarter 2026 Earnings Conference Call-In Webcast. After today's preparation, if you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Bert Subin, Senior Vice President of Investor Relations. Please go ahead.

Thank you, operator, and welcome, everyone. Following market close, we issued our earnings announcement, filed our Form 10-Q, and posted a slide presentation on our website, which we'll reference during the call. I would like to refer you to slide two of the presentation for information about our forward-looking statements, non-GAAP financial measures, and operating metrics. Now let's turn to the agenda on slide three. Speaking on today's call will be Jacobs Chair and CEO Bob Pragada and CFO Venk Nathamuni. Bob will begin by providing comments on the business as well as highlights from our third quarter results and a recap of notable awards. Venk will then provide a detailed review of our financial performance, including commentary on end market trends, cash flow, and balance sheet data, as well as our updated outlook. Finally, Bob will provide closing remarks, then we'll open up the call for questions. With that, I'll turn it over to our chair and CEO, Bob Pragada.

Good afternoon, everyone, and thank you for joining us to discuss our third quarter 2026 business performance. We delivered strong results in Q3. I'll quickly highlight a few key takeaways. First, adjusted EPS grew approximately 14% to $1.84, supported by more than 8% adjusted net revenue growth, all organic, and more than 100 basis points of year-on-year margin expansions. Second, INAF posted nearly $2.1 billion in net revenue, a 10% increase year over year, and a quarterly record for the segment. And third, our backlog grew 27% to $29 billion, setting another new record with a trailing 12-month book-to-bill of 1.4 times on gross revenue and 1.2 times on net revenue. As we look ahead, we see continued strong underlying business momentum as reflected by our third consecutive guidance raise for FY26, which Venk will walk through in more detail shortly. Turning to slide four, we provide a detailed overview of the quarter. We're very pleased with our Q3 results as strong operating performance paired with our lower share count drove the sixth straight quarter of double digit growth in adjusted EPS. Our margin profile continues to trend higher with our business achieving an adjusted EBITDA margin above 15% in Q3, up over 100 basis points year over year, and up almost 200 basis points when compared to the same period in 2024. The combination of strong annual margin expansion, high single-digit organic growth, and continued share repurchases enabled by strong free cash flow generation has created a powerful earnings growth algorithm. Further, we are seeing convergence of backlog growth and overall revenue growth, and we are positioned to deliver another strong bookings performance in Q4. Turning to slide five, I'd like to highlight a few notable project awards from the third quarter. In Water and Environmental, Jacobs is selected to provide program management and technical environmental services to the U.S. Navy's Environmental Restoration Program, primarily across the Mid-Atlantic and Puerto Rico. The work involves restoring contaminated sites, including PFAS and munitions-related projects, with the goal of reducing health and environmental risks and returning these sites to beneficial use. Thank you so much for joining us. were selected to deliver Central Utah Water District's Strawberry Highline Improvement Project, which will modernize roughly 40 miles of aging canal infrastructure through new pipelines, a pump station, a regulating reservoir, and related facilities. By converting a historic open canal into a modern pressurized system, the project will improve long-term water reliability for agricultural and municipal users while supporting regional growth and enhanced recreation along the corridor. It's part of the district's broader NEBO Regional Water Project, an approximately $1.5 billion program designed to sustain a doubling of the area's population in the coming decades. This also includes the South Utah Valley Regional Water Treatment Plant, where Jacobs is already under contract to lead design and engineering during construction. Shifting to Life Sciences and Advanced Manufacturing, Jacobs was awarded a sole source EPCM contract by HUD-8 to deliver Beacon Point, the company's second AI data center campus in the U.S. Located in Texas, the multi-phase campus is designed to support one gigawatt of total capacity. This award is a follow-on to HUD-8's Riverbend campus in Louisiana, where Jacobs is also leading program deliveries. will apply proven design elements from that project and deploy our data center digital twin to simulate critical assets, helping to de-risk commissioning and reduce time to first revenue by accelerating the deployment of AI workloads. Initial energization is targeted for 2027. Winning a repeat sole source contract at this scale reflects the confidence clients place in Jacobs to deliver complex AI infrastructure with speed, safety, and certainty. It also builds on our standing as Engineering News Records' number one data center firm, a sector where we see substantial runway as AI investments increase. And finally, PA is supporting the UK Royal Air Force's Optimize initiative, enabling RAF leaders to use data-driven insights to further strengthen operational readiness and decision-making in an increasingly complex environment. The work turns data into confident, evidence-led decisions that support the RAF's readiness and it reinforces our standing as a trusted delivery partner in the defense sector, delivering high-tempo programs that have real operational impact. Now please turn to slide six. Given the growth tailwind we are seeing from AI investments, I wanted to take a moment to quickly highlight our position in the AI infrastructure build-up. We've been serving data center clients since the 1990s and have long-standing relationships with semiconductor manufacturers that span over 50 years. Significant capital is being deployed to build AI data centers, and we have been able to grow our addressable market by expanding our scope of services, which now range from technical advisory and design to digital twins and full program delivery. Thank you for joining us. As of Q3, the direct AI build-out represented 11% of our adjusted net revenue, up approximately 100 basis points from last quarter, and our pipeline of future opportunities continues to grow meaningfully. Now I'll turn the call over to Venk to review our financial results in further detail.