Jacobs Engineering Group Inc. (NYSE:JEC) Q1 2015 Earnings Conference Call - Final Transcript

Jan 29, 2015 • 11:00 am ET


Jacobs Engineering Group Inc. (NYSE:JEC) Q1 2015 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Jacobs Engineering Earnings Conference Call. All participants will be in a listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions). Please note, this event is being recorded.

I would now like to turn the conference over to Michelle Jones, Vice President of Corporate Communications. Please go ahead.

Michelle Jones

Thank you very much, Gary, and welcome to Jacobs' first quarter 2015 conference call. With us today is our EVP and CFO, Kevin Berryman, who will present the financial highlights for the quarter; Chairman Noel Watson will present our growth strategy; and George Kunberger, our Executive Vice President of Sales and Marketing, will provide a business overview and end-market outlook. Noel will wrap up the prepared remarks before we take Qs.

As you're aware, we issued the press release last night, and it can be found on jacobs.com, along with the presentation we plan to review this morning.

(Forward-Looking Cautionary Statements)

Michelle Jones

With that, I now would like to turn the call over for some opening remarks to Kevin Berryman.

Kevin C. Berryman

Thank you, Michelle, and good morning, everyone, and welcome to the call this morning. Before I kind of dive into some of the financial results, I thought I would spend just a little bit of time and give you some introductory comments given that this is my first earnings call with Jacobs. A couple of notes. Certainly, I'm very excited to be part of the team here at Jacobs, a recognized, leading company in the engineering and construction space. A couple of comments as to why I'm here and why I am excited.

During discussions on the on-boarding process with the board and the executive management team, it was very clear to me that this was a team that was collaborative in nature, that it was a very talented team, and that it operated with a very high level of integrity. So certainly, that was very important to me.

But of course, that's probably not sufficient for someone to come to the company. There was a little bit more than that. It was very clear to me also during those discussions that the team was very interested and keen on driving an even stronger performance agenda going forward and longer term. I joined this company because I think I can contribute and help drive the development of that performance agenda, which we all collectively believe is going to add significant shareholder value longer term.

A couple of comments about some of the changes that are going on in the company. Clearly, there's been some management transition. We're in the midst of a CEO transition. We're in the midst of myself coming onboard after a very talented man, John Prosser, retiring after decades of service to the company. But I thought I'd make some comments as it relates to the company itself and the talent.

Certainly, I want to communicate to you, from my perspective, there has been no loss of focus