Quanta Services, Inc.

Greetings, and welcome to the Quanta Services second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Kip Rupp, Vice President of Investor Relations. Thank you, sir. You may begin.

Thank you, and welcome, everyone, to the Qantas Services second quarter 2024 earnings conference call. This morning, we issued a press release announcing our second quarter 2024 results, which can be found in the investor relations section of our website at QantasServices.com. This morning, we also posted our second quarter 2024 operational and financial commentary and our 2024 outlook expectation summary on Qantas' investor relations website. While management will make brief introductory remarks during this morning's call, the operational and financial commentary is intended to largely replace management's prepared remarks, allowing additional time for questions from the institutional investment community. Please remember the information reported on this call speaks only as of today, August 1st, 2024, and therefore you are advised that any time-sensitive information may no longer be accurate as of any replay of this call. This call will include forward-looking statements and information intended to qualify under the Safe Harbor from Liability established by the Private Securities Litigation Reform Act of 1995, including statements reflecting expectations, intentions, assumptions, or beliefs about future events or financial performance that or that do not solely relate to historical or current facts. You should not place undue reliance on these statements as they involve certain risks, uncertainties, and assumptions that are difficult to predict or beyond QANU's control, and actual results may differ materially from those expressed or implied. We will also present certain historical and forecasted non-GAAP financial measures. Reconciliations of these financial measures to their most directly comparable GAAP financial measures are included in our earnings release and operational and financial commentary. Please refer to these documents for additional information regarding our forward-looking statements and non-GAAP financial measures. Lastly, please sign up for email alerts through the investor relations section of quantaservices.com to receive notifications of news releases and other information, and follow Quanta IR and Quanta Services on the social media channels listed on our website. With that, I would like to now turn the call over to Duke Austin, Quanta's President and CEO.

Duke? Thanks, Skip. Good morning, everyone, and welcome to the Kiwanis Services second quarter 2024 earnings conference call. Kiwanis' first half of the year is off to a good start. Their second quarter results highlighted by another quarter of double-digit growth in revenue, adjusted EBITDA, and adjusted earnings per share, record total backlog of $31.3 billion, and strong cash flow. We believe our results reflect the power of our portfolio, sound execution, and continued demand for our services. driven by our customers' multi-year programs to build the renewable generation and power grid infrastructure necessary to support North America's energy transition, load growth, security, and reliability. We recently completed the acquisition of Cupertino Electric, or CEI, which provides a platform of new service lines and dynamic customer base, which includes technology companies driving load growth and demand for renewable energies. CEI brings an exceptional management team and a premier craft-skilled workforce that complements Kiwanis culture and will create a comprehensive, self-performed electric infrastructure solution offering for renewable developers, utilities, and large power consumers, from electron generation to transmission to consumption. Utilities across the United States are experiencing and forecasting meaningful increases in power demand for the first time in many years, driven by the adoption of new technologies and related infrastructure, including artificial intelligence and data centers, as well as federal and state policies designed to accelerate the energy transition and policies intended to strategically reinforce domestic manufacturing and supply chain resource. There is momentum building across our portfolio of solutions, but the complexities of the energy transition, its impact on the power grid, and the significant upgrades and enhancements required to facilitate load growth, our collaborative solution-based approach is valued by our clients more than ever. We continue to look forward to the realization of our multi-year strategic initiatives and the goals we expect to achieve in the coming years. We are positioning Quanta for decades of expected necessary infrastructure investment and believe our service line diversity creates platforms for growth that expand our total adjustable market. Our portfolio approach and focus on craftskill labor is a strategic advantage that we believe provides us the ability to manage risk and shift resources across service lines and geographies, which is increasingly important as the energy transition and new technology add complexity to infrastructure programs. We believe our diversity and portfolio approach has also improved our cash flow and returns profile and positions us well to allocate resources to the opportunities we find the most economically attractive and to achieve operating efficiencies and consistent financial results. I will now turn the call over to Jayshree Desai, Climate CFO, to provide a few remarks about our results and 2024 guidance, and then we'll take