Slide 1: Jacobs Fiscal 2025 Second Quarter Results
Jacobs Fiscal 2025 Second Quarter Results May 6, 2025
Slide 2: Forward-Looking Statement Disclaimer
DISCLAIMER Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to a
Slide 3: Today's Agenda
Today’s Agenda Overview Performance overview Recent notable project wins Financial review Q2 FY 2025 results Q2 FY 2025 end market and segment review Balance sheet and cash flow review Outlook & Summary Q&A 3 ©Jacobs 2025 2024
Slide 4: Q2 FY 2025 Results Summary
Q2 FY 2025 Results Summary Q2 FY 2025 Results 2 1,2 ▪ GAAP gross revenue of $2.9B (+2.2% y/y) and adjusted net revenue of $2.1B (+3.1% y/y) – Q2 adversely impacted by a legal reserve relating to a consolidated JV in Water & Environmental (within Infrastructure & Advanced Facilities) 2 1,2 ▪ GAAP net
Slide 5: Significant I&AF Awards Announced in Q2 FY 2025
Significant Infrastructure and Advanced Facilities (I&AF) Awards Announced in Q2 FY 2025 Water & Environmental Water & Environmental Life Sciences & Adv. Manufacturing Critical Infrastructure Hampton Roads Sanitation Boynton Beach Water Treatment PsiQuantum Utility-Scale Denver International Airport
Slide 6: Q2 FY 2025 Results
1 Q2 FY 2025 Results 1 1 Adj. Net Revenue Adj. EBITDA 1 Adj. EPS 1 Backlog $22.2B $2.07B $2.14B $287M $1.43 $265M $18.5B $1.17 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 2 2 2 +3.1% y/y + 8.1% y/y + 22.2% y/y +20.0% y/y I&AF adversely impacted by a reserve recorded following an
Slide 7: Q2 FY 2025 I&AF End Market Performance
Q2 FY 2025 I&AF End Market Performance Life Sciences & Water & Environmental Advanced Manufacturing Critical Infrastructure I&AF End Market Exposure Strong revenue growth in Strong Life Sciences and Data Good Transportation and Gross Revenue Water across geographies Center growth during the quarter
Slide 8: Segment Financials
Segment Financials $’s in millions for fiscal quarters Q2 2024 Q2 2025 Y/Y Y/Y CC 1 Infrastructure and Advanced Facilities Operating Profit 204 203 (0.4)% 0.3% as a % of adj. net revenue 11.5% 11.1% -36 bps -39 bps PA Consulting Operating Profit 60 67 11.9% 11.6% as a % of revenue 20.5% 21.9% 142 bp
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Quarterly cash flow generation Debt and leverage metrics for Q2 FY 2025 Q2 FY 2025 cash flow from operations (CFFO) FIXED DEBT % OF TOTAL $(96)M 63% 63% Q2 FY 2025 free cash flow (FCF¹) 58% $(114)M 51% 49% Delivered record capital returns to shareholders Q2’24 Q3’24 Q4’24
Slide 10: Reaffirming FY 2025 Financial Targets
Reaffirming FY 2025 Financial Targets Fiscal Year 2025 Assumptions Adjusted Net Revenue % Growth mid-to-high single digits y/y FULLY DILUTED AVERAGE SHARE COUNT: ~122M NET INTEREST EXPENSE: $100-105M Adjusted EBITDA Margin 13.8-14.0% DEPRECIATION: $87-92M Adjusted EPS $5.85-$6.20 FY ADJUSTED EFFECTI
Slide 11: Appendix
_ Appendix
Slide 12: Debt and Interest Overview
Debt and Interest Overview Debt Breakdown Fixed vs Floating Debt Trend As of March 28, 2025 Tranche Balance Q2'25 Rate Q1'25 Rate USD Revolver $812M 5.5% 5.6% GBP Term Loans $531M 5.5% 5.9% $36.2 $36.6 $35.8 $35.5 $36.1 Accounting Adjustment -$10M — — $29.1 $27.0 $25.2 Total Floating $1,334M 5.5% 5.
Slide 13: Selected Financial Data
Selected Financial Data Q1 Q2 Q3 Q4 FY Q1 Q2 $’s in millions (unaudited) 2024 2024 2024 2024 2024 2025 2025 Infrastructure and Advanced Facilities Backlog 18,031 18,130 19,489 21,472 21,472 21,484 21,768 Gross Revenue 2,504 2,553 2,595 2,671 10,323 2,626 2,603 Pass Through Revenue (829) (773) (798)
Slide 14: Reconciliation of Segment Operating Profit to Total U.S. GAAP Operating Profit
Reconciliation of Segment Operating Profit to Total U.S. GAAP Operating Profit (in thousands) Twelve Months Three Months Ended Ended Three Months Ended December 29, March 29, June 28, September 27, September 27, December 27, March 28, 2023 2024 2024 2024 2024 2024 2025 Segment Operating Profit: Infr
Slide 15: Sustainability and Corporate Responsibility at Jacobs
Sustainability and Corporate Responsibility at Jacobs Jacobs is focused on creating sustainable shareholder value by delivering science-based, digitally enabled infrastructure solutions for the world's most complex challenges. Our reputation has established us as a trusted partner for delivering out
Slide 16: Use of Non-GAAP financial measures and operating metrics
Use of Non-GAAP financial measures and operating metrics In this presentation, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. These non-GAAP measures are described below. As a result of the sp
Slide 17: Use of Non-GAAP financial measures and operating metrics (cont.)
Use of Non-GAAP financial measures and operating metrics (cont.) We eliminate the impact of “Restructuring, integration, separation and other charges” because we do not consider these to be indicative of ongoing operating performance. Actions taken by the Company to enhance efficiencies are subject
Slide 18: Reconciliation of Earnings from Continuing Operations Before Taxes
Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings from Continuing Operations Attributable to Jacobs Before Taxes (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Earnings from Continuing Operations Before Taxes $ 55,823 $ 144,009 Restructuring, Tr
Slide 19: Reconciliation of Operating Profit to Adjusted Operating Profit
Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands) Twelve Months Three Months Ended Ended Three Months Ended December 29, March 29, June 28, September 27, September 27, December 27, March 28, 2023 2024 2024 2024 2024 2024 2025 Operating Profit $ 142,000 $ 183,244 $ 170,98
Slide 20: Reconciliation of Operating Profit to Adjusted Earnings Per Share
Reconciliation of Operating Profit to Adjusted Earnings Per Share (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Operating Profit $ 208,648 $ 183,244 Restructuring, Transaction and Other Charges 7,604 37,310 Other Adjustments 54,359 43,716 Adjusted Operating Profit 270,611 264,270 A
Slide 21: Reconciliation of Net Earnings to Adjusted Net Earnings
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted Net Earnings Attributable to Jacobs from Continuing Operations (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Net Earnings (Loss) Attributable to Jacobs from Continuing Operations $ 11,162 $
Slide 22: Reconciliation of Diluted EPS to Adjusted Diluted EPS
Reconciliation of Diluted Net Earnings from Continuing Operations Per Share to Adjusted Diluted Net Earnings from Continuing Operations Per Share (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Diluted Net Earnings from Continuing Operations Per Share $ 0.10 $ 0.73 After-tax effects
Slide 23: Reconciliation of Net Earnings to Adjusted EBITDA
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands) Twelve Months Three Months Ended Ended March 28, 2025 March 29, 2024 March 28, 2025 Net Earnings (Loss) Attributable to Jacobs from Continuing Operations $ 11,162 $ 92,236 $ 386,257 Aft
Slide 24: Reconciliation of Noncontrolling Interests to Adjusted Noncontrolling Interests
Reconciliation of Noncontrolling Interests from Continuing Operations to Adjusted Noncontrolling Interests from Continuing Operations (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Noncontrolling Interests from Continuing Operations $ 5,915 $ (8,409) Restructuring, Transaction and O
Slide 25: Reconciliation of Miscellaneous Expense to Adjusted Miscellaneous Expense
Reconciliation of Miscellaneous Expense from Continuing Operations to Adjusted Miscellaneous Expense from Continuing Operations (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Miscellaneous Expense from Continuing Operations $ (123,770) $ (3,705) Restructuring, Transaction and Other
Slide 26: Reconciliation of Income Tax Expense to Adjusted Income Tax Expense
Reconciliation of Income Tax Expense from Continuing Operations to Adjusted Income Tax Expense from Continuing Operations (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Income Tax Expense from Continuing Operations $ (50,576) $ (43,364) Tax Effects of Restructuring, Transaction and
Slide 27: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Net cash (used for) provided by operating activities (96,432) (42,823) Additions to property and equipment (17,270) (27,802) Free cash flow $ (113,702) $ (70,625) Net cash used for investing activities $
Slide 28: Reconciliation of I&AF by End Market GAAP Revenue to Adjusted Net Revenue
Reconciliation of I&AF by End Market GAAP Revenue to Adjusted Net Revenue (in thousands) Three Months Ended March 28, 2025 March 29, 2024 Critical Infrastructure Revenue $ 1,107,464 $ 1,084,002 Pass Through Revenue (200,338) (198,234) Adjusted Net Revenue $ 907,126 $ 885,768 Water and Environmental
Slide 29: Reconciliation of Jacobs Constant Currency Adjusted Net Revenue
Reconciliation of Jacobs Constant Currency Adjusted Net Revenue $’s in millions Net Revenue impact of Constant Currency Jacobs Infrastructure and Advanced PA Consulting Facilities Q2 FY 25 Adj. Net Revenue 2,139 1,831 308 Currency Impact 16 15 1 Adj. Net Revenue in Constant Currency 2,155 1,846 309
Slide 30: Reconciliation of Jacobs Constant Currency Adjusted Operating Profit
Reconciliation of Jacobs Constant Currency Adjusted Operating Profit $’s in millions Adj. OP impact of Constant Currency Jacobs Infrastructure and Advanced PA Consulting Facilities Q2 FY 25 Adj. Operating Profit 271 203 67 Currency Impact 1 1 — Adj. Operating Profit in Constant Currency 272 205 67 Q
Slide 31: Challenging today. Jacobs
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