Good morning, and thank you for joining the Tetra Tech earnings call. As a reminder, Tetra Tech is also simulcasting this presentation with slides in the investor section of its website at tetratech.com. This call is being recorded at the request of Tetra Tech, and this broadcast is the copyrighted property of Tetra Tech. Any rebroadcast of this information, in whole or part, without the prior written permission of Tetra Tech is prohibited. With us today from management are Dan Batrack, Chairman and Chief Executive Officer, Steve Burdick, Chief Financial Officer, and Jill Hudkins, President. They will provide a brief overview of the results and will then open up the call for questions. I would like to direct your attention to the Safe Harbor statement in today's presentation. Today's discussion contains forward-looking statements about future business and financial expectations. 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 Tetra Tech's periodic reports filed with the SEC. Except as required by law, Tetra Tech undertakes no obligation to update its forward-looking statements. In addition, since management will be presenting some non-GAAP financial measures as references, the appropriate GAAP financial reconciliations are posted in the investors section of Tetra Tech's website. At this time, I would like to inform you that all participants are in a listen-only mode. At the request of the company, we will open up the conference for questions and answers after the presentation. With that, I would like to turn the call over to Dan Batrack. Please go ahead, Mr. Batrack. Great. Thank you very much, Darryl, good morning, and welcome to our fiscal year 2023 first quarter's earnings conference call. We had an excellent first quarter and start to our 2023 fiscal year, setting new records for net revenue, our operating income, and earnings per share. In the quarter, our EBITDA margin exceeded 14% for the first time in our history. Backlog, the best indicator of future growth for us, achieved an all-time high of $3.81 billion, up 11% from last year. Just as the first quarter closed, we announced the acquisition of Amyx, bringing 500 high-end security cleared staff to our U.S. federal IT practice. More recent, back just 10 days ago, we completed our acquisition of the RPS Group that adds 5,000 staff and provides new growth opportunities, especially in international water and energy consulting business. I'll begin today's presentation with an overview of our first quarter results and the business outlook, while Steve Burdick, our Chief Financial Officer, will provide additional details of our financial performance and capital allocation. Jill Hudkins, our President, will also provide additional insight into our strategic growth opportunities that we see together with RPS. We had a very strong first quarter, setting new records for net revenue, operating income, adjusted earnings per share, and backlog. Our net revenue was $737 million in the quarter, up 8% from the prior year, a new all-time high for any quarter in the company's history. We also had a record 14% adjusted EBITDA margin, which is 90 basis points increase from the prior year. As a result of this increased margin, we generated an operating income of $97 million for the company, up 17% year-over-year. Earnings per share from operations were a record $1.34 for the quarter. First time we've ever exceeded $1.30, up 20% from last year on an equivalent tax basis. In fact, we were well over $2 on a GAAP basis of earnings per share in the quarter. I'd now like to provide an overview of our performance by our end customer. In the first quarter, our growth was driven by strong performance across all four of our key client sectors. Our U.S. commercial net revenue was the fastest growing sector in the company, with net revenue up 22% year-over-year and comprised about a quarter of our overall business. The commercial growth was driven by strong performance in high-performance buildings, environmental restoration, and a very fast-growing area in renewable energy services. Work for our U.S. federal clients was up 10% year-over-year and represented 28% of our net revenue in the quarter. The increase in our U.S. federal work was driven by a very broad-based increases across all of our key government clients. It was especially driven by civilian agencies for the U.S. federal government, such as the Environmental Protection Agency, U.S. State Department, and the U.S. Agency for International Development. Our state and local revenues for municipal water infrastructure and planning services grew at a 10% rate year-over-year this quarter, with continued strong demand for our best-in-class water supply and watershed management solutions. This 10% growth builds on our seven consecutive years of double-digit growth in the state and local markets here in the United States. Our international net revenue was up 13% year-on-year on a constant currency basis, driven by growth in water, environmental, and sustainable infrastructure work, primarily in the countries of Canada, Australia, and the United Kingdom. I'd now like to present our performance by our two segments. Our GSG and our CIG segments both grew in the first quarter as a result of broad-based demand for our high-end services. I'll start with the GSG segment or the Government Services Group segment, which was up 8% year-over-year with a growth in water and environmental programs. Our GSG segment delivered a record 17.1% margin, up 240 basis points from last year. This record margin was a result of really three different things. First, continued business shift in our mix to higher margin services. Second, favorable project closeouts and really project performance. Third, higher utilization in the quarter. We had especially strong utilization for U.S. federal work and our disaster recovery services for responding to Hurricane Ian, which impacted Florida, really just coming into the quarter during the month of October and extending through November and December. Without the extraordinary margin contributions from these project closeouts and episodic disaster work, we really would have seen about a 15% margin in the GSG segment for the quarter. It's probably more representative of an ongoing margin for that particular segment. The CIG segment grew by 9% year-on-year and delivered a 13.1% margin in the quarter, up 60 basis points from last year, in line with our expectations. This is the fifth consecutive quarter with a year-on-year margin expansions for the CIG segment. The margin expansion in the first quarter was driven by strong utilization in high performance buildings, environmental programs, and renewable energy services across our global operations. Backlog at the end of the quarter was up 11% year-on-year, resulting in an all-time high ending value of $3.81 billion for the company. In the first quarter, we won many new programs and task orders with both our commercial and government clients here in the United States and internationally. We leveraged our $25 billion value in contract capacity with the U.S. federal government and our existing master service agreements to generate almost $1 billion in new orders just in the quarter. We were also awarded new programs such as the $42 million in additional contract capacity by USAID for Energy Transformation Services in Moldova and a new $95 million contract with the United States Navy to support their environmental restoration needs. This broad-based backlog provides us with excellent visibility through the remainder of fiscal year 2023. Now, just 10 days ago, on January 23rd, we closed the acquisition of the RPS Group, and we're rapidly moving forward on shared opportunities, collaboration, and actually aligning their systems with ours. I'm very pleased to welcome everyone at the RPS Group to Tetra Tech. The RPS Group brings to Tetra Tech over 5,000 staff that are highly aligned with our approach to projects and high-end consulting services in key geographic regions that we've been targeting for future growth for some time. RPS doubles our staff in the United Kingdom and Australia, broadening our services and clients relationships in both of these regions. RPS also extends our operations by adding 1,200 employees in Europe across the countries of Norway, Netherlands, and the Republic of Ireland, giving us for the first time a significant presence in that region. When we actually combine Tetra Tech and the RPS Group, we now have an organization collectively with 27,000 employees working from 550 offices worldwide, servicing 22,000 clients. We collectively deliver 100,000 projects a year with an annualized revenue of approximately four and a half billion dollars. Together, Tetra Tech and RPS, this team is leading with science and driving growth by addressing our clients' increasing needs for water, environment, and sustainable infrastructure services. At this point, I'd like to turn the presentation over to our Chief Financial Officer, Steve Burdick, to go through more details of our financial performance in the quarter. Steve? Hey, thank you, Dan. I'd like to now review the financial results for the first quarter of fiscal 2023. Overall, as Dan mentioned, we had record revenue and earnings, the strong performance from our operations was marked by quarterly revenue of $895 million and net revenue amounting to $737 million, which is a quarterly record for us. When adjusting for the FX change from last fiscal year, revenue was up 7% and net revenue was up 12% over the last year on a constant currency basis. We experienced the strong revenue growth from all the end markets, including U.S. commercial, international, federal government, and our state and local clients. Our profitability for the first quarter was also very strong. Our adjusted EBITDA came in at $103 million, which was up 16% over last year. Our EBITDA margin increased 90 basis points to 14%. This improvement came from both segments, as you heard from Dan. About three-quarters of this increase was driven by our growth in the GSG segment and an improvement in GSG's operating margin, which was up 240 basis points over last year. About one quarter of the increase was in operating income coming out of CIG, where the margins were up 60 basis points over last year. Our GAAP EPS came in at $2.18. This was an increase of 74% from last year. As noted in our reconciliation summary as provided in the appendix to this presentation, we entered into a hedge for the purpose of locking in the RPS price in US dollars at the time we signed the agreement back in September. Now, for the first quarter of fiscal 2023, we had an FX hedge gain of $68 million that contributed $0.94 to the GAAP EPS. We entered into this hedge when the British pound was trading at a 30-year low to the U.S. dollar. Ultimately, at the time the acquisition closed in late January, just, you know, 10 days ago, the cumulative effect or the cumulative gain on our FX hedge amounted to about $110 million. This effectively reduced our purchase price by almost 15% and will save over $6 million of interest expense per year going forward. In addition to the hedge gain, we incurred costs related to the RPS acquisition for bridge debt financing fee of about $2.7 million recorded in our net interest and for legal fees of about $3.8 million recorded in operating income. Now, excluding these acquisition gains and losses, our quarterly EPS came in at an all-time record high of $1.34. This was an increase of 13% compared to the adjusted EPS last year. I also wanna point out that our tax rate in the quarter was 25% versus 19% a year ago. The tax rate differential had an impact on our EPS, and that if we were at the similar lower tax rate, our EPS would have been even higher by another 20%. Cash flows generated from operations for the first quarter totaled $25 million. Historically, the first quarter is seasonally our lowest period relative to cash generated from operations. Our focus on working capital and cash flows has resulted in our DSO maintaining a leading industry standard of 61 days. This is a sustainable improvement from prior years, and this lower DSO trend continues to reflect the outstanding work that our project managers lead relative to higher quality projects and highly satisfied clients in our broad portfolio across really all of our end markets and geographies. Our net debt amounts to $82 million, and the net debt to EBITDA was at a leverage of 0.2 times, with a total cash position of about $164 million. Regarding our dividend program, we paid out $12 million in dividends in the first quarter, I want to announce that our board of directors approved a $0.23 dividend to be paid this quarter. This is our 35th consecutive quarterly dividend and our seventh consecutive year of double-digit year-over-year increases in the dividends paid. As we've presented here today, the continued high quality operating and financial results with improved EBITDA margins, positive cash flows, and lower leverage has provided the opportunity for Tetra Tech to comfortably take on greater leverage through our banking relationships to fund the RPS acquisition, which I will speak to next. For those following the presentation, I'd like to present our financial plan for the integration of RPS, which is a significant opportunity for Tetra Tech. When looking out over the next three years, we expect to first increase the actual EBITDA margins of RPS from the lower historical levels to be more in line with Tetra Tech, generating margins well over 13%. This will be accomplished in a similar manner as what we had done for our two previous public company acquisitions, both Coffey in 2016 and WYG in 2019. By focusing on high-end differentiated services and revenues while integrating the business into our ERP platform and our corporate systems for greater cost synergies, we had increased the margins in those businesses from breakeven to the current Tetra Tech double-digit levels. Secondly, through improved RPS profit margins and cash flows, along with Tetra Tech's strong positive cash flows from operations, we expect to de-lever our balance sheet to a level to be more in line with our long-term net debt to EBITDA goal of one time to two times. We would expect to have a net debt leverage of about 1.5 times by the end of this year. As you can tell, I'm very pleased to share these quarterly results with you for the start of our fiscal 2023. Wanna thank you for your support, I will now hand the call over to Jill to discuss just a few of the many business opportunities of bringing Tetra Tech and RPS together. Thank you, Steve. RPS is an excellent strategic fit for Tetra Tech, expanding both our global water and renewable energy opportunities. Tetra Tech has a leadership position in water, as demonstrated by our number one water ranking by Engineering News-Record for 19 consecutive years. Tetra Tech is working worldwide to provide our clients with sustainable water supplies and innovative water treatment solutions. Our rapidly growing digital water practice is advancing water utilities programs by providing remote automation, monitoring, and data analytics. The addition of RPS expands Tetra Tech's addressable market by providing us with access to a GBP 10 billion per year U.K. water market. RPS brings long-term relationships and consulting contracts with all of the major U.K. water agency clients. These same clients utilize RPS Group's WaterNet Pro software platform on a subscription basis, a cloud-based decision-making system that provides predictive analytics and visualization for water quality, hydraulics, and asset management. The addition of RPS also advances Tetra Tech's global energy strategy by giving Tetra Tech access to a GBP 15 billion per year offshore wind market in the United Kingdom and Europe, significantly increasing Tetra Tech's renewable energy opportunities. Tetra Tech holds top rankings with Engineering News-Record in renewable energy for hydropower, wind power, and solar power. Tetra Tech has long-term relationships with energy utilities, having provided high-end siting and permitting consulting for more than 1,000 projects in the U.S. For the U.S. offshore wind market, Tetra Tech provided all of the front-end planning and permitting services for the only two operational projects, the Block Island Wind Project and the Coastal Virginia Wind Project. RPS also brings an impressive resume for offshore wind in the U.K. and Europe. Having worked for over a decade on the development of the Hornsea One, Two, and Three wind projects and providing specialized services in the areas of marine investigation and geophysical analytics. Together, we are ideally suited to support our clients in the expected 260 gigawatts of offshore wind development in the North Sea, representing a five-fold increase in current wind generation. With offices in Ireland, the United Kingdom, Norway, and the Netherlands, RPS is well-positioned to put Tetra Tech on the map in the North Sea. Now I'd like to turn the presentation back to Dan. Great. Thank you very much, Jill. I'd now like to present our guidance for the second quarter and for all of fiscal year 2023, and I'd like to do that in two parts this morning. First, I'll be presenting Tetra Tech's guidance without RPS. I'll remind the collective group here they've been with us for just 10 days now. Second, I'd like to provide the outlook for the RPS group's financial contributions for both the second quarter and for all of the fiscal year of 2023 for the amount post-acquisition or post-January 23rd. I'd like to begin with our guidance as follows for Tetra Tech excluding RPS. For the second quarter of 2023, our net revenue guidance is a range of $685 million-$735 million with an associated earnings per share of $1.03-$1.08. For the entire year of fiscal year 2023, we are increasing our net revenue guidance range to a level of $3 billion-$3.15 billion of net revenue with an associated earnings per share guidance of $4.90-$5.05. This guidance for Tetra Tech excluding RPS has the following assumptions. It assumes within this guidance, we will take an expense of $0.21 per share or $15 million for intangible amortizations. We'll have an effective tax rate for the year of 26% for the remainder of the year. We have approximately 54 million diluted shares outstanding. This guidance does exclude any other contributions that would take place after the RPS acquisition. With respect to the contributions, the financial contributions for RPS for the second quarter, we have estimated that they will contribute approximately $100 million of net revenue to Tetra Tech with an associated earnings per share of -$0.10 in the second quarter. For the entire fiscal year of 2023, the 8 months that they will be with us in total, we expect that they will contribute approximately $400 million of net revenue and be neutral to our earnings per share on an adjusted basis, excluding transaction and integration costs. In summary, we had an excellent first quarter and just a fantastic start to fiscal year 2023, setting first quarter records and frankly, any quarter records for net revenue income and earnings per share. Our backlog reached another all-time high, comprised of services that are aligned with our long-term growth strategy that provide us excellent visibility for the remainder of 2023 and frankly, even farther into the future. As we begin the year, we're seeing increased opportunities and demand for our leading with science approach and advanced analytic solutions, reaffirming our strategy to focus on the high-end services in water, environmental programs, and sustainable infrastructure. With that, Darryl, I would like to open the call up for questions. The question and answer session will begin now. Please be aware that there will be a 30-second pause in our webcast to allow for buffering. At this time, audio participants are invited to submit their questions. Please remember to mute the audio function on your computer before you speak. If you are using a speakerphone, please pick up the handset before pressing any numbers. If you would like to ask a question, please press star 1 on your touchtone phone. Our first questions come from the line of Noelle Dilts with Stifel. Please proceed with your questions. Hi. Thanks, everyone. I was hoping that you could just expand a bit on your expectations around RPS margins for fiscal 23. You know, I think when RPS had before the acquisition, had been talking about kind of getting to a double digit EBITDA margin in the near term. Could you just expand upon sort of how you're thinking about the margin profile this year and how the cost savings that you've laid out roll out over the next basically two and a half years? Thanks. Absolutely, Noelle. Thanks for the question. Steve actually put together a slide that was included in his prepared remarks that graphically depict our expanding margin expectations for the RPS Group. Now in 2022, which is been completed, let's call that the trailing 12 months, RPS Group was around 4%, just slightly over 4%. We expect that under Tetra Tech, that number will double, and we expect as an average for the year that that will increase to approximately 8%. In fact, we'll be exiting fiscal year 2023 at a run rate closer to 10%. For the average that they'll contribute for 2023, it would be approximately 8% for the year, with it beginning at approximately 4% now and expanding to a run rate at about 10 at the end of the year. We expect in 2024 that number to move into a double digit level, approximately 11%. In that level, it'll enter at about 11, exit about 12, with an annual average right there in the middle at about 11. That would be for 2024. Finally, in the following 12 months, we expect that to be up at a Tetra Tech level, which would be a 13%+. In one respect, I would say that 2024 sounds like a long way away, since we're on a U.S. federal government calendar, that's less than 8 months away. It's actually quite close. With respect to savings, I did make a comment on the adjustments with respect to our forecast for contributions from RPS to Tetra Tech. We do expect that on a cost synergies basis, moving to common platforms and aligning our systems, we will see, once fully implemented, we will have approximately a $25 million contribution from reduced cost or will contribute to their EBITDA. That is embedded in helping assist to get to the margins that I had just indicated. We expect that it'll cost us about. I'm sorry. It'll cost us about $20 million in order to achieve the $25 in savings per year. We expect we'll get about half of that cost synergies this year in fiscal year 2023. Of the $25, we'd expect we get about $10 million a year savings here in this current fiscal year. The cost for that will be about $15 million. Of our total $20 that we'll spend to achieve the $25, we'll incur about half of that this fiscal year. That will leave about $5 for fiscal year 2024. We expect the annual yield to be up to about $20 million a year for 2024, beyond that, $25 on an ongoing and future basis. I know I ran through those numbers pretty fast. If there's some questions on that, I'd be happy to get into those details or have Steve provide some of the underlying support. Sure. I think I caught most of those. I guess just while we're on the RPS topic, you know, I know that sales synergies have been discussed as a key reason for the acquisition. Could you expand upon how you're thinking about some of those opportunities and really the growth potential of the combined sort of Tetra Tech RPS entity again as you look out over the next couple of years? I'm really excited about that. I know that our financial folks, and certainly I take great satisfaction on the accretion. I know we've talked about expect the RPS accretion to Tetra Tech once they've joined us for a year, and we've actually had them integrated to be in the mid to upper teens on a financial basis. I still believe that's easily achievable. In fact, we look to perhaps do even better than that. What actually is most exciting is the revenue synergies. I think that Tetra Tech, combined with RPS, gives us new geography and new capability that, and I don't use these terms very often, is unmatched in permitting for some of the most innovative renewable energy programs out around the world. Offshore wind is of course one of the very biggest. I know Jill spoke a bit to it, but RPS would not have the ability to have access to the U.S. markets that Tetra Tech brings, and Tetra Tech would not have any meaningful participation in the largest new growth areas for offshore wind that go through the North Sea and other areas. I do think this is an example that's one plus one is not slightly more. I think it's one plus one is four or five. The other item we've been very anxious to participate, we think we can bring enormous value to the U.K. water markets. Tetra Tech has been doing water quality programs. We've been doing impacts of agriculture and livestock loading into water quality streams with respect to things like Total Maximum Daily Loads for chemical loading. This is the new priority for the AMP8 programs or the asset management programs for the water utilities in the United Kingdom, and that's what Tetra Tech's been doing for the U.S. EPA and the U.S. local state and governments here for the past 30- 40 years, and it's just new advent as a priority in the U.K. I think what we have, plus the position that RPS has of holding framework or master service agreement contracts with every one of the major water utilities in the U.K is another area where it's not just +1 is slightly more than two. I think it's a big move. While RPS currently is number five or number six, ranking as far as revenues for the U.K. water utilities, I think with the advent of Tetra Tech, we're gonna move up that rank pretty fast by providing much better value that the water utilities have never seen before. They can do it on the back of the investments that was made by the U.S. government, measured in the hundreds of millions of dollars, if not billions. They don't have to invest that. They can get that by Tetra Tech bringing that technology capability to the U.K. and actually building on the backs of the investments done here in the United States. Great. Thanks very much. I'll pass it on. Thank you. Our next questions come from the line of Andrew Wittmann with Baird. Please proceed with your questions. Great. Thanks for taking my questions, everyone. Dan, I was just hoping maybe to just get a good sense of the quarter and how it relates to the guidance here. I guess ask the question this way. You mentioned the GSG segment, kinda had some items that artificially... I don't know artificially. You certainly earned them, but the margins were a little bit higher than you expected and shouldn't be viewed as a continuing benefit. In fact, you said 15% is kind of more like what the underlying performance was. If you just do the difference of that margin difference, it's probably about $0.10, which means you beat the quarter and beat your guidance, but not as much. It looks like basically most of the guidance raise, not all of it, but the majority of the guidance raise is due to that GSG segment margin performance. I guess the first question is that the right way to think about your guidance? The implication is that the balance to your outlook is still good and supported, maybe it's not terribly changed. Is that the right way of thinking about it? Yeah, I think that is primarily the right way to think about it. We had a great first quarter. The reason I made the comment that the extraordinary contributions, and of course, I would say that we had, we mobilized an additional 1,500 staff during the months of October through December to respond to Hurricane Ian all across Florida. We were really busy. We mobilized staff from across the rest of our operations to go down there and to accelerate the response to minimize the impacts to the residents of Florida and the surrounding area. But I do consider that a extraordinary, you know, with climate change and the impact of storms, I'm hesitant to say one-time event because it's certainly not really become that. The 17%, if you model that out, it would have our guidance going up, way up. We did flow through every bit of the beat in the quarter for our annual guidance and more. We do expect things will be a little bit stronger. We came into the year with actually a very high forecast for EPS. We had actually embedded in our forecast for 2023 another 50 basis points increase in our margin across the company. To actually maintain that and increase it a bit while actually absorbing and flowing through all of the beat that we had in Q1, I would say that, yes, when you say, "Does it leave intact primarily the guidance we had coming into the year?" I would say yes, although we did increase it even more than the beat. We do have optimism coming in. Of course, with only 10 days with RPS with us, was really we struggled with how can we communicate what they're going to contribute while trying to have perfect insight after 10 days. That's why we really presented this in two components. What is the base company doing, which you just highlighted. We flow through all the beat and more, a little bit more. Yes, it remains intact, plus. I think as we go through the year with RPS, we'll look to actually begin merging that into Tetra Tech as we integrate the company, and you're gonna see 1 collective number. It doesn't take much to add these together to do a calculation on your and our collective parts to see the top line's growing well over 20% with these individuals. I'll be really excited to present what is gonna contribute to the bottom line, both on valuable cost synergies and revenue. Yes, I think your characterization of our maintaining and improving our outlook through the year, even with the beat, is accurate, Andy. Okay. I guess the follow-on question to that is, you know, obviously only 10 days with RPS here, but going forward, can you just talk about how you're going to talk about EPS guidance? You know, there's going to be an intangible amortization hit, which you don't know yet, obviously. You gave us, I think a very realistic way of looking at it with this kind of two pieces. Going forward, do you think that, is 2023 gonna have, like, an adjustment for some of this intangible amortization, and then maybe as you go to the future 2024 or something that you kinda get back to just closing it more, like you've done historically, which is really founded in GAAP principles, or how are you talking and thinking about that internally? I think that's a great question. That's a great question. For those that have followed Tetra Tech's guidance, you would know that we're on a GAAP. In fact, I think we're the only company, not just in our industry, but any industry, that actually does adjustments and moves our actual performance down. You can see that we adjusted from over $2 a share of earnings per share down to our $1.34. You would have seen each of the quarters last year. We took any type of extraordinary contribution and adjusted our EPS down. I don't know who does that other than Tetra Tech. We do present the GAAP, and we continue and we look to revert to that once we've actually incorporated RPS and understand what the one-time transaction, which we actually know those costs, what the integration cost and the intangible amortization. I expect those will be on an adjusted basis. We'll be quite transparent as to what those are. As we move into 2024, I expect us to be returning to where we've historically been. In fact, even this quarter where we've been, which is the cleanest, most direct reporting of our results, which are on a GAAP basis. If they're extraordinary contributions, we've even taken those out to reflect our increases that are well into the double digits. Yes, I'm not looking to change Tetra Tech's reporting off into the future, but there's so many one-time items associated with RPS joining us. It would only be appropriate to provide a clear, accurate understanding of their contributions by adjusting for those because they are one-time. In the case of intangible amortization, we don't even know that number yet, so we'll put that into place this next quarter. We'll probably have adjustments through 2023, and then we'll return at appropriate timing to GAAP reporting for the company. Okay. That all makes a lot of sense. Thank you for your time and perspective. Great. Thank you very much, Andy. Thank you. Our next question comes from the line of Alex Dwyer with KeyBank. Please proceed with your question. Hi, guys. can you talk about the IIJA? It kinda sounds like the expectation is still for a minimal contribution later this year. Like, has anything changed here since the last update, maybe in terms of customers moving forward with projects or more funding coming through the pipeline? I'm just trying to get a sense of what's currently baked into the guidance could ultimately prove conservative this year. A good question. It's ever since both the IIJAs passed into law, I would say when the CHIPS Act and even the Inflation Reduction Act, some combination of the special legislation that's passed, we get different varying comments. We do believe it will have a contribution primarily late in the year. We have it being quite de minimis overall. The growth rates that we've had in our state and local, which we expect one area to be contributed to the funding. We've seen our clients begin to get some of the funds or grants provided to them, but they haven't necessarily flowed at any material level to us yet. I expect in late Q2, but really Q3 and Q4, these projects to start. It's mostly gonna be on the very upfront planning, the initial outline, even conceptual design. I expect many projects to start in the second half of fiscal year 2023. What's exciting for us about it is not the financial contribution in 23, but it's when you start a program, they start at a small level, and they begin to build up like a bell curve. These are projects that start with small conceptual tasks and assignments. They move into permitting the detailed design. They'll, like, build and really contribute over many years. These programs that'll start in the second half of this year are gonna build for multiple years, and they'll contribute for 3-5 years or more. Of course, owners engineer and oversight during implementation by the constructors. It's de minimis contribution during 2023, really had no contribution in our first quarter and is not included in any material way in the second quarter. You'll see it begin to build in the second half, and I've not seen anything that would cause it to be delayed or pushed out to the right. We're now seeing what's appropriate. The funds go to our clients, which will then trigger their ability to procure, and you'll begin to see it in backlog. I'd also say not only did it not contribute to the revenue in the quarter, I do wanna make the note IIJA and the other funding sources did not contribute to our backlog growth in the first quarter. That was excluding anything that I expect and it really will come later in the year for backlog. The sequence, of course, is it goes into contract capacity, then it goes to backlog, which we report in detail, then converts to revenue. We're still a few quarters out from seeing that contribute to the revenue side. Got it. Second question, you guys raised the margin target ranges for both of the segments last quarter. This quarter was interesting with the GSG margin coming in well above the high end of the range, like, even when you back out those three items you called out in the prepared remarks. I was just wondering if there was the latest message on the timing of CIG margins potentially catching up with GSG margins, if this is still the case or what the timeline could be. You know, that's a, that's a great question. It's a great question. Every time I speak with our CIG leads and executives, and they say they're gonna close the gap, GSG just widens the gap by additional performance like you saw this last quarter. I will say that we expected GSG as an overall range for the year to be between an EBITDA margin between 13.5% and 14.5%. You know, GSG thought they were beginning to close that gap by being 13.1% in the first quarter. You know, I keep saying I expect that to close, and then GSG puts in a 17% margin. What they would say to me and have said to me is, "We can do better." I guess what I'll say at this time is I expect both the GSG and CIG margins to expand. We included a 50 basis point increase in 2023 over 2022. I do think GSG was a bit of an outlier because of the disaster and a few other items. I do still think CIG will catch and surpass GSG. The only thing I can't tell you is it going to be in one of the quarters this year? If they miss it's not because CIG has underperformed, it's because GSG has outperformed. For our investors and shareholders and analysts who track this, if CIG doesn't catch or surpass GSG, it's good for our performance because that means we're gonna be over the top of any of our estimates, as you saw this last quarter. Thank you. Our next question has come from the line of Tate Sullivan with Maxim Group. Please proceed with your question. Hello. Thank you, good morning. Dan, you mentioned renewable energy, the great growth in U.S. commercial, and you used a term I hadn't heard before, renewable energy services being a fast-growing business. Is that, is the majority of that already the offshore wind that you projects that you work on before adding RPS to? That has been the fastest-growing area. I will say, onshore wind has still continued to be strong. Solar has actually been strong. Of course, hydro is really the largest single component right now between both what we're doing in Canada and the U.S. I would say that as of, well, pre-RPS, I don't want to say as of today. As of 10 days ago and earlier, it would have been almost exclusively what we're doing in Canada and the U.S. Now with RPS, joining us, we think the opportunities will actually be substantially greater and add the new renewable energy work in Australia and U.K., Europe, which, I commented on. The areas that have helped grow and drive our commercial 22% growth year-over-year, renewable energies was a big part, and permitting for offshore wind was a big aspect to that. One thing I don't want to understate what Jill said, the only two operationally productive that are actually producing energy offshore wind projects in all of the United States, all of the permitting and upfront study work and support was done by Tetra Tech. In fact, most of the offshore leases that came from the New York Bight, which was the big lease auctions that were completed here over the past many months, we're supporting most of those. Right when we feel that things are great here in the U.S., like having the only two operational programs that we did and having most of the new offshore leases that we're supporting, what are we told by RPS? That's small and puny, and I hope you guys can pick it up because we did the Hornsea Project One, Two, and Three, which is the world's largest offshore wind generation facilities, and we're beginning others that are actually larger than it. I think when you take Tetra Tech's programs and RPS's, it really looks very favorable for us going into this year and on into future. Bringing what you have done in offshore wind to RPS, is it similar capabilities or is there some work that you can, so to speak, cross-sell to RPS in the offshore wind and the opportunity in the U.K? You know, one thing that's interesting is the work that RPS has been doing to support the offshore wind is different than what we've been doing. Now they're both under the guise or under the general topic of permitting or offshore studies, but RPS brings new technologies that we've just not seen or utilized here in the United States. An example would be they have offshore automated autonomous buoys, and these are very large buoys. They're almost like small vessels, and they have lidar systems on them. They have radar systems. They have self-regenerating power supplies through solar panels. They measure all of the different attributes necessary for modeling in case of a discharge of oils or some aspect of environmental impact from the offshore wind or the vessels that are actually servicing them. If you have a vessel out there and there's an oil spill, you can do real-time monitoring for oil spill trajectories, fate, transport, all the rest of it, real-time on-site with these buoys. We haven't used those here in the United States. On the other hand, the work that we have here in the U.S. with the offshore, very high resolution marine biology divers impacts to benthic studies, which are underground critters in the water, fisheries, avian flyways, the very high radar systems that we have to monitor all types of avian species, bats, birds, others. We have here in the U.S., we have a small fleet of offshore high-resolution surveys, bathymetric surveys, hydro surveys, sub-bottom profiling, and real-time evaluation of marine mammals, we can bring to them. So they'll bring to us technologies we've never seen in the U.S., and we'll bring to them technologies that haven't yet been used in Europe or other locations. I think it really is very complementary and synergistic. That's why, again, I love the financial model that will come out with mid to high teen accretion. No doubt that's fantastic. On the revenue side, what we can bring to the industry is just really exciting to us. Then, I mean, one thing on RPS, I was a bit-- and, maybe it depends on transitioning it to the GAAP accounting, this higher subcontracting costs to get to-- from revenue to net revenue, and then to bring up RPS's margins. Does that imply some divestitures, perhaps? Do they do some lower margins construction management work? Or is that also an evaluation? They don't. Yeah, well, their gross to net is actually smaller than Tetra Tech. They actually have less of a difference from gross to net. On a full annualized basis, a 12-month basis, they're about $700 million on gross revenue or total revenue, and we expect on an annualized or 12-month basis to be around $600 million on net revenue. That about 15% difference between gross and net is actually less than that at Tetra Tech. Tetra Tech here, we do more government work than they do, and we have more requirements for using small disadvantaged participation on execution of federal work. We naturally have contractual obligations to meet these subcontracting requirements. As far as, do they have some work that is lower margin? Yes. We're not necessarily see divestiture, but as we had implemented in both Coffey and WYG, we are going to change the model and move it decisively to one direction, which is more high-end, which is reflected with less competition, higher margin, and technically differentiated services that are just not offered in the marketplace or have a much different competitive landscape in the marketplace. The efforts will be not to be, quote, "bigger," but our absolute focus is to be better with RPS. Where that can be reflected, that is gonna be reflected in margin. Thank you, Dan. Thanks, Dave. Thank you. Our next question has come from the line of Michael Dudas with Vertical Research. Please proceed with your question. Thank you. Good morning, gentlemen and Jill. Hi, Michael. Okay. Moving, continuing on thoughts on RPS. I know it's only been 10 days and such, but maybe you could share a little bit about your expectations relative to managing the new employees, retention expectations. Are there any significant senior people that need to be around if they're still or joining the team? Relative to that and the margin question you just touched on before, to help these margins and more Tetra Tech's expertise and value proposition adds to the, you know, through the contract base of RPS, or are there things RPS can do better to extract those better margins amongst their, especially their government clients? Well, so two questions there. One, retention, and the second is increasing the margins or project execution. With respect to retention, it is new. We do have retention programs here in Tetra Tech. We have equity positions that we will provide access to Tetra Tech stock as we do with Tetra Tech staff. That actually is a component of retention. We actually want every employee to be a owner of the company and have same alignment as our outside shareholders. We've are putting that in place. We certainly have selected, a retention of, stock awards at best over multi-years for, select areas across the top to make sure that they own a piece of the rock, and they're part of the, organization and that vest over multi-years, as does for every Tetra Tech employee in the existing management of Tetra Tech here. I will say RPS's turnover currently, or I shouldn't say currently, prior to our acquisition, is higher than Tetra Tech's, quite a bit higher. Tetra Tech's overall, turnover rate is right around 10% and slightly below that. The turnover rate at Tetra Tech when you've been here more than five years at the company is in the order of sort of circa 1%. It's quite low. What I'm looking to achieve is actually to put that type of career stickiness with the people at RPS. This is not a next step in their career. This is the next landing spot where they will continue their career all the way through retirement for those that want to be high-end technical engineers and scientists, I expect they have a home here forever, and that they'll help make Tetra Tech better than we were before they joined us. It provides our clients extraordinary levels of institutional knowledge, consistency. Tetra Tech's not going anywhere. The next recession is not impacting our business. In fact, if you look at 2008, we grew through that. If you look at the pandemic, we were up through that. The tougher things get, the better home this is for those employees. Now with respect to can they run better, I do think that they have been hampered, and they have been restricted with respect to a lack of a single ERP system in their back office. I think that the ability for their project management and technical staff to have real-time understanding of where they are, decisions-making to be made immediately with respect to immediate access of percent complete, accessing of knowledge systems across the entire organization is substantially higher at Tetra Tech. We've just been, we're I don't know, 1- 2 decades ahead of where RPS is on that journey, and we're gonna move what was another five or 10-year journey for them. We're gonna move that into 12- 24 month period, and they'll be on our systems. I think that will help provide new solutions for their clients, and which then will result into better performance by ourselves and better delivery and value propositions for all of our collective clients and the 100,000 projects. With respect to efficiency and how are we gonna drive the higher margins, not just on cost, it's gonna be giving them the tools that they can even do their existing jobs better than what they had done prior to joining Tetra Tech. Excellent, Dan. Thank you. Thank you, Michael. Thank you. This will conclude the Q&A session. I will now turn the conference back over to Dan Batrack to conclude. Thank you very much, Darryl, and thank every one of you for being on this call. Thank you very much for your patience with us as we look to have more clarity with respect to the very specific contributions on both revenue and earnings and really the outcome of the revenue synergies that we have with more projects for our end clients. I know that again, I've used this maybe too many times during this call, but the first 10 days with us have actually been exceptional. I had the great pleasure to be in the U.K. last Monday when we closed and had a chance to spend the entire week with many of their operations across the UK, Norway, Netherlands, and I left more excited than I went even going over there. I think it's gonna be a great contribution. I'm gonna have the great opportunity to do the same across their Australian and Asian markets. It's not just me going in a ceremonial visit. It's actually going on the front line with our operations staff that are initiating the collaboration for new project wins. I will say in the first day, we've already had wins together that we otherwise wouldn't have had. I hope you can tell from today's presentation, I'm really looking forward to sharing with you the more details and progress that we're making, and that'll be as soon as this next quarter, only 90 days away. I hope you have a great rest of the week, and I look forward to talking to you on next quarter's call. Thank you. Ladies and gentlemen, this concludes our conference for today. Thank you all for participating, and have a nice day. All parties may now disconnect.