Slide 1: Fiscal First Quarter 2022 Earnings Conference Call
Fiscal First Quarter 2022 Earnings Conference Call February 8, 2022 ADD DATA THEME QUOTE ©Jacobs 2021
Slide 2: Disclaimer
Disclaimer Forward-Looking Statement Disclaimer Non-GAAP Financial Measures Certain statements contained in this presentation constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934
Slide 3: Today's agenda
Today’s agenda ▪ Overview − Strategy and performance update − Data and Cyber strategy − StreetLight Data acquisition ▪ Lines of business review − Critical Mission Solutions − People & Places Solutions − PA Consulting ▪ Financial review − Q1 Fiscal 2022 results − PA Consulting Financial Snapshot − Ba
Slide 4: Jacobs: Challenging today. Reinventing tomorrow.
Jacobs: Challenging today. Reinventing tomorrow. Compelling investment thesis ▪ Global infrastructure modernization, climate response and industry digitization ▪ U.S. infrastructure investments expected to fuel 2H FY22 growth and beyond ▪ ESG and digital solutions embedded throughout global offering
Slide 5: Data Solutions – Domain knowledge combined with robust analytics
Data Solutions – Domain knowledge combined with robust analytics Specialized Data and Cyber Geospatial and Edge Data Analytics Consulting Services Computing Technology Software Platforms National Security Critical Infrastructure Landscape of Opportunity 5
Slide 6: StreetLight's platform provides human mobility, supply chain efficiency and social value analytics
StreetLight’s platform provides human mobility, supply chain efficiency and social value analytics ▪ U.S. Infrastructure investments to drive acceleration in transportation, EV charging and urban development ▪ Commercial customers in need of data-rich solutions to understand changes in human mobilit
Slide 7: Critical Mission Solutions
Critical Mission Solutions Critical Mission Solutions Snapshot (TTM including The Buffalo Group, BlackLynx) Strong base of recurring revenue; new business pipeline margin-accretive U.S. / International 81% / 19% ▪ Multi-year enterprise contracts provide long-term stability Government ~86% ▪ High-val
Slide 8: People & Places Solutions
People & Places Solutions People & Places Solutions Snapshot (Net Revenue Q1 2022) Deep Domain Expertise + Data-Driven Solutions + Global Scale ▪ Client-recognized impact of expertise at scale driving differentiated solutions U.S. / International 59% / 41% ▪ Global delivery model benefiting profitab
Slide 9: PA Consulting
PA Consulting PA Consulting Snapshot Bringing Ingenuity to Life to build a positive human future (Revenue Q1 2022) ▪ Responding to mega trends of agile working, climate change, health, data and UK / US / Other 77% /12% / 11% digital transformation Public / Private Sector 50% / 50% ▪ Leveraging techn
Slide 10: Fiscal 2022 Q1 results
Fiscal 2022 Q1 results Revenue was flat y/y and Pro Forma Net Revenue down 3% y/y ▪ Pro forma net revenue growth was impacted by the timing of large CMS wins and P&PS Americas customers evaluating investments from recently passed U.S. infrastructure bill GAAP Operating Profit (OP) of $177M and OP Ma
Slide 11: Segment financials
Segment financials $’s in millions Q1 2021 Q1 2022 Y/Y Critical Mission Solutions Operating Profit 110 111 1% as a % of revenue 8.5% 9.6% 110 bps People & Places Solutions Operating Profit 196 192 -2% as a % of net revenue 13.7% 13.2% -50 bps PA Consulting Operating Profit — 63 N/A Design Automation
Slide 12: PA Consulting's strong growth and margin provides upside to valuation
PA Consulting’s strong growth and margin provides upside to valuation Strategy firms Design houses $’s in millions Teams with End-to-end real-world experience innovation capabilities Q1 FY20 FY21 . Jacobs Fiscal Year Ending September 2022 PA Consulting Revenue 770 1,028 290 y/y local currency 24% 21
Slide 13: Balance sheet and cash flow
Balance sheet and cash flow Continued strong cash flow generation ▪ Q1 cash flow from operations (CFFO) $322M and FCF1 of $302M; includes cash outflows mainly related to a $55M cash payment for COVID related deferred FICA ▪ Quarterly DSO decreased ~8 days compared to Q1 FY21 ▪ On track to achieve >1
Slide 14: Outlook & Summary
Outlook & Summary Reiterating Fiscal 2022 Outlook ▪ Continue to expect adjusted EBITDA outlook of $1,370 to $1,450M and adjusted EPS outlook of $6.85 to $7.45 Positioned for double-digit adj. EBITDA growth in FY22 and beyond Harnessing the ▪ Expect benefits from U.S. Infrastructure Investment and Jo
Slide 15: Challenging today. Reinventing tomorrow.
Challenging today. Reinventing tomorrow. Our passion and commitment to take immediate action on climate change comes from our leadership and our 55,000 employees who, together, are pushing the limits of what’s possible by creating sustainable solutions that leave no one behind. We do things right. W
Slide 16: Office of Global Climate Response and Environmental, Social & Governance (ESG)
Office of Global Climate Response and Climate Response Environmental, Social & Governance (ESG) Climate change: the greatest challenge and opportunity of Decarbonization Natural & Social Capital our generation ▪ End-to-end net zero delivery ▪ Natural capital stewardship ▪ Clean & smart mobility ▪ Ca
Slide 17: Delivering sustainable solutions
Delivering sustainable solutions Member of Dow Jones Sustainability™ North America Index Green Hydrogen PFAS Cleanup Inductive Vehicle Charging Sustainability Roadmap RWE, Pembroke Power Station, South Wales, UK: City of North Bay, Ontario: environmental assessment, Michigan Department of Transporta
Slide 18: Environmental, Social & Governance Summary
Environmental, Social & Governance Summary A sustainable business model aligning purpose and vision with both growth and positive impact: ▪ Fully integrates purpose with profit and operationalizes ▪ Achieved 100% renewable energy for sustainability across all aspects of our business our operations i
Slide 19: Selected financial data
Selected financial data $’s in millions Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Backlog 22,671 23,291 23,674 23,818 23,818 25,105 25,571 25,436 26,631 26,631 28,006 Revenue 3,360 3,427 3,260 3,520 13,567 3,382 3,548 3,576 3,586 14,093 3,381 Net Revenue
Slide 20: Selected financial data
Selected financial data Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 $’s in millions FY 2020 FY 2021 2020 2020 2020 2020 2021 20211 2021 2021 2022 Critical Mission Solutions Backlog 8,473 9,135 9,066 9,104 9,104 9,683 9,779 9,565 10,589 10,589 10,798 Revenue 1,182 1,243 1,211 1,329 4,966 1,295 1,310 1,218 1,264 5,087
Slide 21: Other operational metrics from continuing operations
Other operational metrics from continuing operations $’s in thousands Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Depreciation 22,152 22,566 22,276 24,076 91,070 22,989 25,090 26,405 26,540 101,024 26,237 (pre-tax) Amortization of 21,845 22,094 23,135 23,4
Slide 22: Non GAAP financial measures
Non GAAP financial measures (1) Includes charges associated with various restructuring, transaction and other related activity costs associated with Company transformation and acquisition related programs, including pre-tax charges for the Company's real estate impairment of $72.3 million. (2) Inclu
Slide 23: Non GAAP financial measures
Non GAAP financial measures (1) Includes charges associated with various restructuring, transaction and other related activity costs associated with Company transformation and acquisition related programs. Also includes $27.9 million in charges associated with the impairment of our investment in AWE
Slide 24: Reconciliation of net earnings from continuing operations attributable to Jacobs to adjusted EBITDA
Reconciliation of net earnings from continuing operations attributable to Jacobs to adjusted EBITDA 24
Slide 25: Reconciliation of Jacobs free cash flow
Reconciliation of Jacobs free cash flow 25
Slide 26: Non-GAAP financial measures
Non-GAAP financial measures Net revenue is calculated excluding pass-through revenue of the Company’s People & Places Solutions segment from the Company’s revenue from continuing operations. Adjusted net earnings from continuing operations, adjusted EPS from continuing operations, adjusted operating
Slide 27: Calculation of metrics
Calculation of metrics This presentation contains certain metrics which management believes are useful in evaluating the performance of StreetLight. Because StreetLight derives the vast majority of its revenue from recurring software subscriptions, these metrics provide investors with visibility to