AECOM (ACM) Q4 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 14, 2022 12:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the AECOM Fourth Quarter 2022 Conference Call. I would like to inform all participants, this call is being recorded at the request of AECOM. This broadcast is the copy righted property of AECOM. Any rebroadcast of this information, in whole or part without the prior written permission of AECOM is prohibited.

As a reminder, AECOM is also simulcasting this presentation with slides at the Investors section at www.aecom.com. Later, we will conduct a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Will Gabrielski, Senior Vice-President, Finance, Treasury and Investor Relations.

Will Gabrielski

Thank you, operator. I would like to direct your attention to the safe-harbor statement on page one of today's presentation. Today's discussion contains forward-looking statements about future business and financial expectations. Actual results may differ significantly from those projected in today's forward-looking statements due to the various risks and uncertainties, including the risks described in our periodic reports filed with the SEC. Except as required by-law, we undertake no obligation to update our forward-looking statements.

We use certain non-GAAP financial measures in our presentation. The appropriate GAAP reconciliations are incorporated into our materials, which are posted to our website. Any references to segment margins or segment-adjusted operating margins will reflect the performance for the Americas and international segments.

When discussing revenue and revenue growth, we will refer to net service revenue or NSR, which is defined as revenue excluding pass through revenue. NSR and backlog growth rates are presented on a constant-currency basis, unless otherwise noted. For year-over-year constant-currency growth for 2023 guidance, foreign-exchange rates are based on the underlying rates used when we set our 2024 targets in late 2021. Return on invested capital as measured on the continuing operations of the business and excludes any retained assets or liabilities of previously disposed businesses. Today's remarks will focus on continuing operations and exclude impacts related to our exit from Russia.

On today's call, Troy Rudd, our Chief Executive Officer will review our key accomplishments and our strategy and our outlook for the business; Lara Poloni, our President will discuss key operational successes and priorities; and Gaurav Kapoor, our Chief Financial Officer will review our financial performance and outlook in greater detail. We will conclude with a question-and-answer session.