Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| This is a multi-billion dollar market and a substantial growth opportunity |
| Finally, our leadership position in the tunneling market remains a competitive differentiator on large and complex transportation and water programs |
| Our first quarter performance exceeded our expectations and I'm very proud of how the organization is delivering on our key priorities |
| As a professional services organization, our people and their passion to deliver a better world, create a competitive advantage we bring to our clients |
| To that point, I'm also pleased to report that we were recently recognized as one of Fortune's World's Most Admired Companies for the 10th consecutive year |
| In addition, our employee satisfaction scores remain at an all-time high, and employee retention remains well ahead of both internal and industry benchmarks, which is significantly better than our pre-COVID levels |
| Our headcount also continues to increase organically across our largest markets, demonstrating the health and strength of our workforce and business |
| These outcomes demonstrate the value we realized when we consistently invest in our teams through technical and leadership development and the positive benefits to recruiting and retention from winning marquee projects globally |
| And then in terms of that outlook obviously strong opportunities ahead of us in terms of our market leadership with PFAS |
| Growth was also especially strong in our global water and transportation markets |
| The segment adjusted operating margin increased by 100 basis points to 15%, which is a new first quarter high |
| Our adjusted operating margin in the Americas expanded to 18.3%, which was a new first quarter high |
| As a result, adjusted EBITDA and adjusted EPS increased by 14% and 25% respectively, which puts us firmly on track to deliver on our full year guidance |
| Some nice wins in terms of -- with the resiliency and sustainability by -- signaled by our great win when we see which rounds out the project lifecycle work that we are undertaking to them, water and environmental services |
| So a long-term infrastructure, very robust |
| Supporting future organic growth, our design backlog hit a new record high and our pipeline continued to expand, reflecting the strength of our end markets and the continued expansion of our addressable market through our Day 1, Day 2, Day 3 strategy |
| We see substantial opportunities in both sectors going forward in line with those ongoing secular trend |
| And so as we see the opportunity to accelerate in North America we also think that again bodes well for the future of the profitability of the business |
| Even more encouragingly growth has accelerated in the earlier stages of our pipeline, which aligns well with our expectation for an extended period of elevated growth and opportunity |
| Our strong start to the year and consistently strong execution as a result of our Think and Act Globally strategy, which we discussed in detail at our Investor Day in December |
| In the Americas IIJA funding is accelerating as evidenced by another milestone, program management, win for Amtrak's Susquehanna Bridge Replacement Project, which will improve operations on one of the busiest rail corridors in the U.S |
| All of this strengthens our confidence into the future |
| Our backlog in the design business is at a record level and included 23% growth in contracted backlog reflecting our high win rate and focus on winning what matters to expand our long-term earnings power |
| As a result, innovation is accelerating and we are bringing new solutions to our clients that further enhance our advantage |
| We are realizing both the benefits of our organic growth at higher incremental margins and the investments we've made to deliver our work more efficiently, including a shift in our headcount with digital and program management representing the fastest-growing areas of headcount increases across the company |
| We are really pleased to start the year with such strong momentum |
| growth in the water market is set to accelerate from the substantially expected AMP8 funding |
| So we've built up a really strong impressive core team and I think it's a combination of our skills in that core team and frankly some of the things we are doing with respect to our digital innovations to make the customer process much more transparent and to improve the communication or think about it as an improved client experience |
| Our first quarter results exceeded our expectations, highlighted by continued strong organic NSR growth, a record first quarter margin, double-digit earnings growth, and strong free cash flow |
| Taken together across each of our markets, the strength of our strategy and our technical expertise is differentiating us and positioning us well for continued strong growth in the years ahead |
| Statement |
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| As with again as with everything, there's always a few opportunities -- or there's always a few markets, or in fact, there is some difficulties |
| I think everyone is aware and as Gaurav pointed out, certainly in commercial office and I'll call it in tall buildings in North America, we see a slowdown |
| You kind of lose momentum |
| And the third thing is, we saw this through the conversations with our clients and through our pipeline a number of years ago that there was going to be a sort of a slowing in tall buildings |
| And I just wanted to ask, because there are some concerns that maybe the stimulus dollars and the project pipeline maybe peaks out in '24 |
| First, the funding outlook in our core markets has never been stronger |
| So the overall backlog is down |
| I should note that our Construction Management backlog declined due to our decision to remove two projects from awarded backlog where the final terms and conditions were inconsistent with our risk framework, which did not materially impact our profit in backlog given the high pass-through revenue in this business |
| There are places where there is some slowness in the market, which we pointed out in the U.K |
| So the weakness that you're seeing in U.S |
| elections and a little bit of a pause in spending there |
| So, well, Europe may be choppy in terms of infrastructure funding |
| Nearly every market and client we serve is working to address a similar challenge, which is evident on a record pipeline |
| Then we have seen outside the U.S., but again not to point out that we are seeing significant slowing |
| So all those things have come together and we are just not seeing the pushback in the market as evidenced by our win rate |
| There will be a focus on the overall backlog being down |
| So even where there might be some slowness in the market because we are exposed to much greater client spend we have the opportunity to support businesses that might even -- they might even be seen some slowing in the market |
| So it just gets to the point that we are not going to again chase work perhaps in a market that would be difficult and that's sort of the commercial tolerability environment |
| Actual results may differ significantly from those projected in today's forward-looking statements due to various risks and uncertainties, including the risks described in our periodic reports filed with the SEC |
| These successes aren’t unique for us |
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