Jacobs Solutions Inc. (J) Q1 2023 Earnings Call Transcript

Jacobs Solutions Inc. (NYSE:J) Q1 2023 Results Conference Call February 7, 2023 10:00 AM ET

Company Participants

Jonathan Doros - Investor Relations

Bob Pragada - CEO

Kevin Berryman - Chief Financial Officer

Claudia Jaramillo - EVP, Strategy and Corporate Development

Conference Call Participants

Adam Bubes - Goldman Sachs

Andy Wittmann - Baird

Michael Dudas - Vertical Research

Andy Kaplowitz - Citigroup

Michael Feniger - Bank of America

Robert Conners - Stifel

Louie DiPalma - William Blair

Gautam Khanna - Cowen

Josh Sullivan - The Benchmark Company

Alex Dwyer - KeyBanc Capital Markets

Operator

Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Jacobs Solutions Fiscal First Quarter 2023 Earnings Conference Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session [Operator Instructions]. Jonathan Doros, Investor Relations, you may begin.

Jonathan Doros

Thank you. Good morning to all. Our earnings announcement and 10-Q were filed this morning, and we have posted a copy of the slide presentation on our Web site, which we will reference during the call. I'd like to refer you to Slide 2 of this presentation materials for information about our forward-looking statements and non- GAAP financial measures. Turning to the agenda. Speaking on today's call will be Jacobs' CEO, Bob Pragada; and Chief Financial Officer, Kevin Berryman. We are also joined today by our incoming CFO, Claudia Jaramillo. Bob will begin by summarizing highlights from our first quarter results, discuss our commitment to sustainability and then provide an update on our strategy. Kevin will provide a more in-depth discussion of our financial metrics as well as a review of our balance sheet and cash flow. Finally, Bob will provide details on our updated outlook along with closing remarks, and then we'll open up the call for your questions. In the appendix of the presentation, we provide additional ESG related information, including examples of our leading ESG solutions.

With that, I'll now pass it on to Bob Borgata, CEO.

Bob Pragada

Thank you, John. Good day, everyone. Thank you for joining us today to discuss our first quarter fiscal year 2023 business performance. Starting on Slide 4. I'd like to welcome to the call, Claudia Jaramillo, who is currently our Executive Vice President, Strategy and Corporate Development. We recently announced her transition to CFO later this year. I'm excited to now lead Jacobs as CEO. Over the last several years, we have repositioned the company through a purposeful strategy of transforming our portfolio and capture higher value opportunities in our core and adjacent sectors. At this juncture in our strategy, strong execution and focus is pivotal to our success. There are three key priorities, first, we will maintain our inclusive and inspirational culture that fosters the creativity needed to live by our mission, challenges today reinventing tomorrow. Second, we will focus on driving a higher structural growth rate across our core sectors by executing against the three needle moving growth accelerators of climate response, data solutions and consulting and advisory across the entire organization and sectors we serve. While we are in a leading position to capitalize on the mega trends and structural tailwinds, our relentless focus on long term client relationships is driving sustained growth. Third, we will deliver long term returns for our shareholders by driving further operational discipline across the business to accelerate cash flow generation with disciplined capital allocation.