Record-Breaking Financial Performance
The company's third quarter financial results surpassed expectations with new records set for NSR, margins, EBITDA, EPS, backlog, and pipeline. Adjusted EBITDA and EPS increased by 10% and 16% respectively, and free cash flow increased by 27%.
Strong Organic NSR Growth
Organic NSR growth accelerated to 6%, led by 8% growth in the Americas, the company's highest margin segment. The segment adjusted operating margin achieved a record 17.1%.
High Win Rates and Backlog Growth
The company has maintained a 19-quarter streak with a book-to-burn ratio above 1, winning more than 50% of the value bid and achieving an 80% success rate on largest pursuits. Backlog increased to a new all-time high, with the pipeline achieving a record high for the fifth consecutive quarter.
Positive Market Environment
Government initiatives in the U.S. and internationally are driving infrastructure investments. The U.S. federal government's focus on infrastructure, AI, and energy presents significant growth opportunities.
Expansion in Advisory and Program Management
The advisory business grew at a double-digit pace, with plans to double NSR to $400 million within 3 years. The program management business won nearly 90% of largest pursuits this year.