This document provides a summary of Stantec's Q4 and full year 2017 earnings presentation. Some key points:
- Q4 2017 revenue was slightly higher than Q4 2016 but net income declined due to cost overruns on several construction projects. Adjusted net income also declined.
- For the full year 2017, gross revenue increased significantly due to acquisitions but net income declined. Several one-time items impacted results, including US tax reform.
- The presentation discusses financial performance by region and business unit. Most regions saw growth except the US which had declines due to a project adjustment.
- 2018 targets are provided including goals for margins, expenses as a percentage of revenue, and net income
Rexnord Corporation (RXN) Second Quarter Fiscal Year 2018 Financial ResultsRexnord
Consolidated Rexnord
• Supply Chain Optimization
& Footprint Repositioning completed, savings on track
• Core sales(1) growth increases to +4% year over year
Process
& Motion Control
• Positive core sales growth continues at +3%
• DiRXN (“Direction”) introduction generating strong customer interest, activity
Water Management
• Core sales growth accelerates to +5%, margins expand year over year by 200 bps
• World Dryer acquisition adds strategic adjacent product line
Cash Flow
& Balance Sheet
• Solid 1HFY18 for Free Cash Flow(1) supports unchanged FY18 outlook
• Net debt leverage ratio(1) declines to 2.9x
Rexnord Corporation (RXN) Second Quarter Fiscal Year 2017 Earnings Release Rexnord
2Q earnings in line Net sales increase 1%, including 1% drag from RHF product line exit –core sales(1)decline 2% GSf$S(1)f$ GAAP EPS of $0.24 –Adjusted EPS(1)of $0.38 Cambridge contributes approximately 4% to 2Q sales growth with favorable outlook Process & Motion Control delivers in-line results, positive sales growth Global aftermarket revenue increases as industrial distribution sell-through stabilizes Positive growth in consumer-facing, aerospace end markets augmented by acquisition Water Management results reflect infrastructure project deferrals Project timelines extend, particularly in Middle East, cutting into second-half outlook US nonresidential building construction growth uneven, but outlook remains positive
Updatingguidanceforfiscal2017EarningsperShare Updating guidance for fiscal 2017 Earnings per Share Revised GAAP EPS guidance is $0.75-0.81 –revised Adjusted EPS guidance is $1.32-1.38 More cautious end market growth assumptions yield lower core growth outlook of ~(3%) Supply chain optimization & footprint repositioning on track to deliver $30 million annual savings
Rexnord Corporation (RXN) Second Quarter Fiscal Year 2018 Financial ResultsRexnord
Consolidated Rexnord
• Supply Chain Optimization
& Footprint Repositioning completed, savings on track
• Core sales(1) growth increases to +4% year over year
Process
& Motion Control
• Positive core sales growth continues at +3%
• DiRXN (“Direction”) introduction generating strong customer interest, activity
Water Management
• Core sales growth accelerates to +5%, margins expand year over year by 200 bps
• World Dryer acquisition adds strategic adjacent product line
Cash Flow
& Balance Sheet
• Solid 1HFY18 for Free Cash Flow(1) supports unchanged FY18 outlook
• Net debt leverage ratio(1) declines to 2.9x
Rexnord Corporation (RXN) Second Quarter Fiscal Year 2017 Earnings Release Rexnord
2Q earnings in line Net sales increase 1%, including 1% drag from RHF product line exit –core sales(1)decline 2% GSf$S(1)f$ GAAP EPS of $0.24 –Adjusted EPS(1)of $0.38 Cambridge contributes approximately 4% to 2Q sales growth with favorable outlook Process & Motion Control delivers in-line results, positive sales growth Global aftermarket revenue increases as industrial distribution sell-through stabilizes Positive growth in consumer-facing, aerospace end markets augmented by acquisition Water Management results reflect infrastructure project deferrals Project timelines extend, particularly in Middle East, cutting into second-half outlook US nonresidential building construction growth uneven, but outlook remains positive
Updatingguidanceforfiscal2017EarningsperShare Updating guidance for fiscal 2017 Earnings per Share Revised GAAP EPS guidance is $0.75-0.81 –revised Adjusted EPS guidance is $1.32-1.38 More cautious end market growth assumptions yield lower core growth outlook of ~(3%) Supply chain optimization & footprint repositioning on track to deliver $30 million annual savings
Rexnord Corporation (RXN) Q3 Fiscal Year 2018 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on January 31, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Q2 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on October 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Third Quarter Fiscal Year 2017 Financial ResultsRexnord
Supply Chain Optimization & Footprint Repositioning Program
• Final pj , $ g roject initiated, remain on track to $30 million of annual cost savings
• RHF product line exit essentially complete
Process & Motion Control
• Sequential increase in First-Fit wins, on track to exceed FY17 target
• Cambridge acquisition continues to perform well
Water Management
• Matthew Stillings joins Rexnord as Water Management Group Executive
• Zurn establishes new global headquarters in Milwaukee
Cash Flow & Balance Sheet
• Net debt leverage ratio declines to 3.3x
• Term debt maturity extended to 2023, coupon reduced by 25 bps
Rexnord Corporation (RXN) Q3 Fiscal Year 2018 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on January 31, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Q2 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on October 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) Third Quarter Fiscal Year 2017 Financial ResultsRexnord
Supply Chain Optimization & Footprint Repositioning Program
• Final pj , $ g roject initiated, remain on track to $30 million of annual cost savings
• RHF product line exit essentially complete
Process & Motion Control
• Sequential increase in First-Fit wins, on track to exceed FY17 target
• Cambridge acquisition continues to perform well
Water Management
• Matthew Stillings joins Rexnord as Water Management Group Executive
• Zurn establishes new global headquarters in Milwaukee
Cash Flow & Balance Sheet
• Net debt leverage ratio declines to 3.3x
• Term debt maturity extended to 2023, coupon reduced by 25 bps
4Q results Core sales growth -3% –Adjusted EPS of $0.37 fff$%f FY16 free cash flow of $171 million, or 113% of adjusted net income Significant progress in portfolio management, cost reduction, management alignment Water Management performing well in favorable market environment Core operations deliver 20.3% adjusted EBITDA margin in fiscal 2016 Solid momentum in US nonresidential construction end markets Process & Motion Control outlook positive for aerospace, food & beverage Stabilizing sell-through in industrial distribution implies improving year-over-year comparisons Cambridge acquisition builds on leadership in food & beverage, expands consumer exposure Initiating guidance range for fiscal 2017 Adjusted EPS of $1.47-1.57 gggj$ Slow-growth end-market environment continues, but industrial MRO stabilizing Supply chain optimization & footprint repositioning on track to deliver $30 million annual savings
Rexnord Corporation (RXN) Q3 Fiscal Year 2020 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on January 28, 2020, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Rexnord Corporation (RXN) First Quarter Fiscal Year 2017 Earnings Release Rexnord
1Q results in line on operating basis Net sales decline 3%, including 2% drag from RHF product line exit –core sales(1)decline 1% S(1)f$$fff Adjusted EPS(1)of $0.35 includes $0.03 per share from timing of tax benefit Closed acquisition of Cambridge, enhancing consumer-facing end-market exposure Reduced outstanding debt by $100 million, eliminating all principal repayments before maturity WMfldddjii Water Management reflects steady nonresdemand, project timing Favorable growth outlook continues for US nonresidential construction end markets Investing in key new product introductions scheduled over coming 6-18 months Process & Motion Control core growth comparison improves Global aftermarket revenue increases as industrial distribution sell-through stabilizes Cambridge delivers solid contribution in initial quarter, integration on track Re-affirming guidance for fiscal 2017 Adjusted EPS of $1.47-1.57 End markets generally consistent with expectations –impact of weaker markets diminishing Supply chain optimization & footprint repositioning on track to deliver $30 million annual savings
Rexnord Corporation (RXN) Q2 Fiscal Year 2019 Financial ResultsRexnord
This presentation and discussion contains certain forward-looking statements that are subject to the Safe Harbor and Cautionary language contained in the press release we issued on October 30, 2018, as well as other factors that could cause actual results to differ materially from those discussed and that are disclosed in our filings with the Securities and Exchange Commission.
Some comparisons will refer to certain non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them and why we believe they are helpful to investors, and contain reconciliations to GAAP data.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
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US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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2. Cautionary Statement
This presentation contains non-IFRS
measures and forward-looking statements,
including a discussion of our business
targets, expectations and outlook.
We caution readers not to place undue
reliance on our forward-looking statements
since a number of factors could cause actual
future results to differ materially from the
targets and expectations expressed.
For a discussion of risk factors and non-IFRS
measures, see our 2017 Annual Report
which is available on SEDAR, EDGAR, and
stantec.com.
4. 4
2017 Highlights
2016 2017 2018
ACQUISITION
Largest acquisition
to date
ACQUISITION
North State
Resources, Inc.
#10 Global Design Firm
#3 North American Design Firm
INTEGRATION OF MWH Global Inc.
ACQUISITION
RNL Design
Facilities Corp.
ACQUISITION
Inventrix
Engineering, Inc.
Gord
Johnston
CEO
DIVESTITURE
Innovyze, Inc.
Letter of Intent
Traffic Design
Group (TDG)
Letter of Intent
Occam
Engineers Inc.
6. 6
Q4 17
$
Q4 16
$
Gross revenue 1,246.0 1,240.8
Net revenue 805.0 820.2
Adjusted EBITDA (1) 63.1 83.8
Net income 11.2 29.4
Adjusted net income (1) 37.2 40.4
Diluted EPS 0.10 0.26
Adjusted diluted EPS (1) 0.32 0.35
Cash dividends declared per common share 0.1250 0.1125
Q4 17 Financial
Results
(1) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
(In millions of Canadian dollars, except for per share amounts)
7. 7
Q4 17 Financial
Results
Q4 17
$
Q4 16
$
Gross revenue 1,246.0 1,240.8
Net revenue 805.0 820.2
Gross margin (1) 52.9% 54.5%
Impacted by:
Consulting Services
US Water downward revenue adjustment on
design-build project 5.0
Construction Services
US - cost escalations on three hard-bid projects 16.3
UK - cost escalations on waste-to-energy projects 5.0
Total 26.3
(1) As a % of net revenue.
(In millions of Canadian dollars, except for percentages)
8. 8
Q4 17 Financial
Results
2017
$
2016
$
Administrative and marketing expenses (1) 44.9% 44.3%
Impacted by:
Provision for self-insurance 6.2
Marketing and administrative labor 3.0
Share-based compensation 5.3
EBITDA (2) 69.4 82.9
Adjusted EBITDA (2) 63.1 83.8
(1) As a % of net revenue.
(2) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
(In millions of Canadian dollars, except for percentages)
9. 9
Tax Rate $
Reported Tax Rate 64.8% 20.6
Adjusted for one-time items:
Impact from Reorganization – Q4 Adjustment 1.3% 0.4
US Tax Reform:
Transition tax (98.5%) (31.2)
Revaluation of
deferred tax assets and liabilities 39.8% 12.6
Adjusted Effective Tax Rate 7.6% 2.4
Q4 17 Tax
Impacts
(In millions of Canadian dollars, except for percentages)
10. 10
Q4 17 EPS
Impacts
Q4 17 Q4 16
After Tax
$
Diluted
EPS
$
Diluted
EPS
$
Reported net income and diluted EPS(1) 11.2 0.10 0.26
Adjusting items and EPS impact
Amortization of intangibles 12.6 0.11 0.09
Rebalancing of investments held for self-insured liabilities (5.1) (0.04) -
US tax reform 18.6 0.16 -
Other (0.1)
-
(0.01) -
Adjusted net income and diluted EPS(1) 37.2 0.32 0.35
Normalizing items
Identified project issues 20.0 0.17 -
Administrative and marketing items 3.0 0.03 -
Normalized net income and diluted EPS(1) 60.2 0.52 0.35
(1) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
(In millions of Canadian dollars, except for per share amounts)
11. 11
2017
Financial
Results
2017
$
2016
$
Gross revenue 5,140.1 4,300.1
Net revenue 3,417.3 3,098.4
Gross margin 53.5% 54.1%
Adjusted EBITDA (1) 363.4 352.3
Net income 97.0 130.5
Adjusted net income (1) 202.0 181.1
Diluted EPS 0.85 1.22
Adjusted diluted EPS (1) 1.77 1.69
Cash dividends declared per common share 0.50 0.45
(1) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
(In millions of Canadian dollars, except for per share amounts and percentages)
12. 12
2017
$
2016
$
Administrative and marketing expenses (1) 42.8% 43.1%
Adjusted for acquisition related costs (1) 42.8% 42.6%
Impacted by:
IT costs 12.0
Provision for self-insurance 13.3
Professional and audit fees 3.9
MWH integration costs 3.5
Occupancy and lease exit costs 11.3
Severance payments 3.5
EBITDA (2) 424.1 336.3
Adjusted EBITDA (2) 363.4 352.3
2017
Financial
Results
(1) As a % of net revenue.
(2) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
(In millions of Canadian dollars, except for percentages)
13. 13
Tax Rate $
Reported Tax Rate 63.2% 166.5
Adjusted for one-time items:
Tax Impact from Innovyze Sale (28.8%) (94.5)
Impact from Reorganization (1.5%) (3.2)
US Tax Reform
Transition tax (14.9%) (31.2)
Revaluation of
deferred tax assets and liabilities 6.0% 12.6
Adjusted Effective Tax Rate 24.0% 50.2
2017 Tax
Impacts
(In millions of Canadian dollars, except for percentages)
14. 14
2017 EPS
Impacts
2017 2016
After Tax
$
Diluted
EPS
$
Diluted
EPS
$
Reported net income and diluted EPS(1) 97.0 0.85 1.22
Adjusting items and EPS impact
Amortization of intangibles 47.9 0.42 0.36
Rebalancing of investments held for self-insured liabilities (5.1) (0.04) -
US tax reform 18.6 0.16 -
Sale of Innovyze 39.9 0.35 -
Impact from Reorganization 3.2 0.03 -
Other 0.5 - 0.11
Adjusted net income and diluted EPS(1) 202.0 1.77 1.69
Normalizing items -
Identified project issues 20.0 0.17 -
Administrative and marketing items 13.6 0.12 -
Normalized net income and diluted EPS(1) 235.6 2.06 1.69
(1) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
(In millions of Canadian dollars, except for per share amounts)
15. 15
2017 Results Compared to Targets
Measure 2017 Target Range Results Achieved
Gross margin as % of net revenue Between 53% and 55% 53.5%
Administrative and marketing expenses as % of net revenue Between 41% and 43% 42.8%
EBITDA as % of net revenue (1) Between 11% and 13% 12.4%
Net income as % of net revenue At or above 5% 2.8%
(1) Non-IFRS measure defined in our 2017 Management's Discussion and Analysis.
Met or performed better than target.
Did not meet target.
17. 17
During the quarter growth came from
continued strong housing demand in Ontario,
southern Alberta, and Quebec; several larger
pipeline projects; and a large mining project.
Continued work on large healthcare projects
in Ontario, Alberta, and British Columbia.
Canada
C O N S U L T I N G S E R V I C E S
Q4 17 2017
Organic gross
revenue growth
5.4% 1.1%
Organic net
revenue growth
6.1% 0.1%
millions (C$)
18. 18
In Q4 17, completed significant design phases
on several large projects in Buildings and Water
business operating units, and in our
Transportation sector.
Water was impacted by revenue adjustments on
a major design build project.
Growth in Community Development, Mining,
Power, and WaterPower & Dams sectors.
United States
C O N S U L T I N G S E R V I C E S
Q4 17 2017
Organic gross
revenue growth
(retraction)
(0.6%) (0.3%)
Organic net
revenue growth
(retraction)
(1.1%) 0.0%
millions (C$)
19. 19
*
Experienced organic growth in the quarter due
to strong project activity in the United Kingdom.
Improving market conditions in
Latin America mining sector and Middle East
Water business operating unit.
Global
C O N S U L T I N G S E R V I C E S
Q4 17 2017
Organic gross
revenue growth
6.7% 7.2%
Organic net
revenue growth
8.3% 2.8%
millions (C$)
20. 20
Organic gross revenue growth is a better
indicator as very little work is self-performed.
Continued to win multiple projects in 2017
contributing to organic growth.
Q4 17 2017
Organic gross
revenue growth
11.2% 18.3%
Construction
Services
millions (C$)
21. 21
*
Canada and Global
experienced organic
revenue growth, offset
by retraction in the US
due to the downward
revenue adjustment on
a major design-build
project and temporary
slowdowns in the
Water Program
Management group.
Business
Operating
Units
C O N S U L T I N G S E R V I C E S
Q4 17 2017
Organic gross
revenue growth
(retraction)
(0.7%) 2.3%
Organic net
revenue growth
(retraction)
1.2% 3.0%
Q4 17 2017
1.8% 0.6%
(4.9%) (0.6%)
Q4 17 2017
(1.5%) (0.2%)
(3.0%) 0.6%
Q4 17 2017
(2.9%) (0.4%)
0.5% (2.4%)
Q4 17 2017
26.7% 2.7%
35.0% (1.4%)
Community
Development had
organic growth in the
year in both Canada
and the US.
Transportation saw
organic growth due to
increased revenue
across all major
subsectors.
Organic revenue was
impacted by the
decline in the oil and
gas markets. The
declines in Canada
were offset by
significant project wins,
primarily in the
healthcare sector.
Impacted by low
commodity prices,
however the oil and
gas industry showed
signs of increasing
activity in late 2017.
Mining and Power had
increased activity in
Canada and the US.
Organic revenue
retraction in Oil & Gas
and Global Mining
sectors. Our Oil & Gas
midstream business
continued to win work
because of our strong
client relationships.
I n f r a s t r u c t u r e
27%*
B u i l d i n g s
22%*
W a t e r
22%*
E n v i r o n m e n t a l
S e r v i c e s
17%*
E n e r g y &
R e s o u r c e s
12%*
*As an approximate percentage of 2017 Consulting Services gross revenue
22. 22
$3.9 billion
gross revenue
backlog
Recent
project
wins Pacific Gas and Electric Company
Environmental Inspections Program
(California, United States)
University of California at Davis Orchard Park and
West Village Student Housing
(California, United States)
Gross Reservoir Expansion Project
(Colorado, United States)
Long Island Rail Road Third Track Expansion Project
(New York, United States)
Inspection and Enforcement Program,
New York City Municipal Separate Storm Sewer System
(New York, United States)
Code of Practice for Self-Driving Vehicles,
Government of Dubai Regional Transit Authority
(Dubai, United Arab Emirates)
Strategic Planning Partner,
Yorkshire Water Asset Management Programme 7
(AMP7)
(Yorkshire, United Kingdom)
State Highway 58 Upgrades
(New Zealand)
Rosedale Wastewater Thermal Hydrolysis Plant
(Auckland, New Zealand)
Scott Street Pumping Station Stormwater Flow Reduction
(Ontario, Canada)
23. 23
MEASURE 2018 TARGET RANGE
Consulting Services
Gross margin as % of net revenue Between 53% and 55%
Administrative and marketing expenses as % of net revenue Between 41% and 43%
EBITDA as % of net revenue* Between 11% and 13%
Construction Services
Gross margin as % of net revenue Between 30% and 33%
Administrative and marketing expenses as % of net revenue Between 25% and 27%
EBITDA as % of net revenue* Between 7% and 9%
Consolidated
Gross margin as % of net revenue Between 52% and 54%
Administrative and marketing expenses as % of net revenue Between 41% and 43%
EBITDA as % of net revenue* Between 10% and 12%
Net income as % of net revenue* At or above 5%
Additional Measures
Capital expenditures for property and equipment $120 million
Amortization of intangible assets $53 million
Software additions $31 million
*Non-IFRS measure defined in our 2017 Management’s Discussion and Analysis.
2018
Targets &
Expectations
24. 24
Canada United States Global
Federal and provincial
increased infrastructure
spending
Modest improvement in
energy and resources sector
Moderate slow down
in housing market
Economic growth
Overall
Federal and state increased
infrastructure spending
Growth in non-residential
construction
Growth in housing market
Economic growth resulting from
tax reform
New opportunities for APD
Long-term target of 15% gross
revenue CAGR
Organic gross revenue growth
in the low- to mid-single digits
Strong backlog and client
relationships
2018 Outlook
Expand global footprint
into new markets