Quanta Services, Inc.

Good morning and welcome to the Qantas Services fourth quarter and full year 2024 earnings call. At this time, all participants are in a listen only mode. A question and answer session will follow management's prepared remarks and we ask that you please hold all questions until that time. I will then provide instructions for the question and answer session. As a reminder, this conference is being recorded. If you have any objections, please disconnect at this time. I will now turn the call over to Kip Rupp, Vice President of Investor Relations, for introductory remarks.

Thank you and welcome everyone to the Qantas Services fourth quarter and full year 2024 earnings conference call. This morning, we issued a press release announcing our fourth quarter and full year 2024 results. which can be found in the investor relations section of our website at QantasServices.com. This morning, we also posted our fourth quarter and full year 2024 operational and financial commentary and our 2025 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, February 20th, 2025, 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 do not solely relate to historical and 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 QAN's control and actual results may differ materially from those expressed or implied. We'll also present certain historical and forecasted non-GAAP financial measures Reconciliations of these financial measures to the 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 qantaservices.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 Mr. Duke Austin, Quanta's president and CEO. Duke.

Thanks, Kip. This morning we reported our fourth quarter and full year 2024 results, which included double digit growth in revenues and earnings and a number of record financial metrics. Total backlog at year end was $34.5 billion. and notably renewable energy infrastructure solution segment, 12-month and total backlog achieved all-time highs. Our ability to deliver consistent, profitable growth is a testament to the strength of our portfolio approach, a diversified solutions-based strategy that enables us to adapt to evolving industry dynamics while delivering mission-critical infrastructure. Quanta has produced record revenues seven of the last eight years. seven consecutive years of record adjusted EBITDA, and eight consecutive years of record adjusted diluted earnings per share. These results were made possible by more than 58,000 dedicated employees and our industry-leading operational and financial platform. 2024 was another successful year for Quantum strategically, operationally, and financially. And while there are always areas for improvement, We are proud of our many accomplishments during this year and we continue to look forward with excitement towards the multi-year strategic initiatives we are working on and the goals we expect to achieve in this and the coming years. We continue to see significant opportunity to advance our growth strategy and are pacing well against our multi-year financial targets, including double digit EPS growth and double digit returns. Our strategic initiatives are enhancing our service lines and capabilities while also expanding our customer base and therefore enlarging our total addressable market opportunity for both organic growth and strategic capital deployment. The energy and infrastructure landscape is undergoing a fundamental transformation, and Quanta is positioned at its center. Utilities across the United States are experiencing and forecasting meaningful increases in power demand for the first time in two decades, which is being driven by the adoption of new technologies and related infrastructure, including data centers and artificial intelligence. The energy transition and policies intended to strategically reinforce domestic manufacturing and supply chain resources. This increasing demand coupled with tightening power generation capacity underscores the urgent need for large-scale grid modernization and energy infrastructure development. Quanta's portfolio approach uniquely positions us to support our clients as they navigate this evolving landscape. Our diversified service lines, self-perform capabilities, and craft skill workforce give us the flexibility to deploy resources where they create the most value across geographies, industries, and service lines. We believe our collaborative solution-based approach is valued by our clients more than ever. 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 addressable market. Our portfolio approach and focus on craft skill labor is a strategic advantage that provides us the ability to manage risk and shift resources across service lines and geographies. which we believe will become increasingly important as load growth, electrification, and the energy transition accelerates. We believe our portfolio approach positions us well to allocate resources to opportunities we find the most economically attractive and to achieve operating efficiencies in consistent financial results. I will now turn the call over to Jayshree Desai. I want a CFO to provide a few remarks about our results and 2025 guidance. And then we will take your questions.