Jacobs Solutions Inc. Q4 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Company Performance

  • Q4 net revenue grew 6% year-over-year (11% in constant currency), with all business lines showing constant currency growth.
  • Backlog increased 5% year-over-year (8% constant currency), supported by strong sales pipelines and marquee contract wins.
  • Full-year FY2022 net revenue and operating profit both grew double digits in constant currency despite FX headwinds.
  • Adjusted EPS for Q4 was $1.80, up 14% year-over-year (18% constant currency). Full-year adjusted EPS was $6.93, up 10% (13% constant currency).
  • Adjusted operating margin improved to 10.7% in Q4 (up 80bps year-over-year).

Business Segment Highlights

People & Places Solutions (P&PS)

  • Q4 backlog up 8% year-over-year (12% constant currency).
  • Advanced Facilities unit continues to drive strong performance with well over 25% operating profit growth for FY2022 on a constant currency basis.
  • Strong demand across life sciences, semiconductors, EV infrastructure, and green energy projects.
  • Infrastructure modernization and climate-related investments accelerating, supported by U.S. IIJA funding.
  • Q4 operating profit up 31%, with margin expansion of 275bps year-over-year driven by mix and cost control.

Critical Mission Solutions (CMS)

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Operator: Ladies and gentlemen, thank you for standing by. My name is Brent and I will be your conference operator today. At this time, I would like to welcome everyone to the Jacobs Fiscal Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] Thank you. It is now my pleasure to turn today's call over to Mr. Jonathan Doros, Investor Relations. Sir, please go ahead. Jonathan Doros: Thank you. Good morning to all. Our earnings announcement and 10-K were filed this morning and we have posted a copy of the slide presentation on our website which we'll reference during the call. I would like to refer you to Slide 2 of the presentation materials for information about forward-looking statements and non-GAAP financial measures. Now turning to the agenda on Slide 3. Speaking on today's call will be Jacobs' Chair and CEO, Steve Demetriou; President and Chief Operating Officer, Bob Pragada; President and Chief Financial Officer, Kevin Berryman. Steve will begin by reviewing our fourth quarter results and then provide an overview of our software and technology platforms. Bob will then review our performance by line of business and Kevin will provide a more in-depth discussion of our financial metrics as well as a review of our balance sheet and cash flows. Finally, Bob will provide details on our updated outlook along with some closing remarks and then we'll open up the call for your questions. In the appendix of this presentation, we provide additional ESG-

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