Troy Rudd: Good morning.
Lara Poloni: Good morning.
Michael Dudas: Troy, there’s been some visible project delays and some uncertainty amongst renewable as your new energy markets and maybe even some in the reassuring though, there’s certainly been an enormous amount of investment plans put forth there. Maybe you could share a little bit on like are you seeing any delays or some push out of concerns given those – some of those announcements, is the IRA and all the stimulus is really going to continue to support that? And what is the – across your practice exposure for AECOM and the new energy, energy transition, and is that one of the areas that you’ll be looking to focus on to win more projects as we move forward?
Troy Rudd: Yes, Mike, I’m going to pass that question over to Lara.
Lara Poloni: Thanks, Mike. Across the world, I mean, we’re seeing long-term growth opportunities across all of our core markets, the Americas, U.K. and Australia. And despite some setbacks in part of those geographies. Longer term, for example, even in the U.K., we’re seeing £40 billion now allocated to rail projects in the North and we’re well positioned for some of those current pursuits. We’re seeing Dublin Metro. We’re seeing the [indiscernible] program with significant opportunities, 75% growth over the next five years. And then as you mentioned, I mean, in the U.S. between the IIJA, IRA, the CHIPS Act, we’re now seeing a real ramp-up in infrastructure growth. Canada, substantial ongoing investment in public transport and also in Australia, we’ve got an unprecedented rail pipeline of $155 billion worth of projects.
And we’ve had a number of significant wins over the last 12 months and well positioned for the future. And with respect to new energy projects, we don’t do any work for developers in that sector at all. So our focus is predominantly on the energy advisory and the pull-through of other sort of design services.
Michael Dudas: That’s helpful. And you – Troy you mentioned or Lara, you might have mentioned PFAS in your prepared remarks. Is that – are you seeing some much more acceleration in the opportunities there? Is that a above market or above-average growth driver for you given your – seems like your technology and execution leadership in that area? Certainly, you’ve seen more visibility announcement from the U.S. government and others to attack this issue.
Lara Poloni: Yes. Obviously, there are now – the regulatory environment is providing a significant catalyst for PFAS. And that’s not just an opportunity for our remediation business but significantly for our water business as well. And we’re seeing strong growth opportunities across the board for water. But PFAS is one of those sectors for which we envisage growth in the water business. because some of those toxic chemicals are present in all elements of the water cycle. So between environment and water and even program management, we’re well positioned long term to capitalize on the PFAS opportunities. And some of the recent wins that we’ve had may be clean and a number of other very significant federal projects have us well positioned. And as you’ll recall, this is not just a new play for us with our technical expertise goes back to 20, 25 years, but ahead of us is a very significant opportunity for sure.
Michael Dudas: Thank you, Lara.
Operator: And we have reached the end of our question-and-answer session. I will now turn the call back over to CEO, Troy Rudd, for some final closing remarks.
Troy Rudd: Thank you, operator. And again, I would just like to thank our teams for their hard work this past year and the tremendous results they’ve produced, which have created, as I said earlier in the call, certainty and consistency amongst an ever-evolving economic backdrop. So I thank you all for joining today, and I look forward to providing a more detailed update on our progress and some more information on our long-term guidance at our upcoming Investor Day in December. Thank you.
Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.
