The following is a summary of the Jacobs Solutions, Inc. (J) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Jacobs Solutions reported a consolidated revenue increase of 5% in Q2, with organic growth contributing to 3% of it.

• The company's GAAP operating profit stood at $281 million, despite some transaction, restructuring, and other costs.

• Gross revenue for Q2 increased by 5% year-over-year, and the GAAP EPS was $1.29 per share from continued operations.

• Adjusted EPS decreased by 7% compared to the last year which equates to a year-over-year increase of 10% when adjusted for last year's discrete tax benefit.

• Q2 saw a 10% year-on-year increase in the Adjusted EBITDA, which was $393 million.

• Both the company's backlogs and People & Places Solutions Line's adjusted net revenue showed annual growth of 2% and 5.6% respectively.

Business Progress:

• Jacobs Solutions has been focusing on strategic shifts towards a high-value portfolio and improving operational efficiency.

• Major progress has been achieved in the separation planning of Critical Mission solution and Cyber Intelligence.

• The company expects mid to high single-digit organic revenue growth in FY 2024 for the People & Places Solutions line.

• Jacobs' strategy to prioritize profitable growth over absolute growth has paid off, particularly in the People & Places Solutions line as evident by the significant top-line growth reported in Q2.

• There are ongoing projects in Life Sciences and electronics sectors, which are advancing due to progression in oncology and prominence of chip manufacturing and data centres.

• The company expects their unallocated expenses to decrease to a $50 net number by 2025.

• Jacobs is also experiencing rapid growth due to increased demand for data centers and has successfully adapted to wage inflation through value-added client solutions and effective use of its global delivery model.

• The company also anticipates further expansion relating to AI and consultancy services required for data centers.

More details: Jacobs Engineering IR

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