Slide 1: Jacobs Fiscal 2025 Third Quarter Results
Jacobs Fiscal 2025 Third Quarter Results August 5, 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 Q3 FY 2025 results Q3 FY 2025 end market and segment review Balance sheet and cash flow review Outlook & Summary Q&A 3 ©Jacobs 2025 2024
Slide 4: Q3 FY 2025 Results Summary
Q3 FY 2025 Results Summary Q3 FY 2025 Results 1 ▪ GAAP gross revenue of $3.0B (+5.1% y/y) and adjusted net revenue of $2.2B (+7.0% y/y) 1 ▪ GAAP net income of $181M (+118.6% y/y) and adjusted net income of $195M (+19.2% y/y) 1 ▪ Adjusted EBITDA of $314M (+13.5% y/y) 1 1 ▪ Adjusted EBITDA margin of 1
Slide 5: Significant Infrastructure and Advanced Facilities Awards Announced in Q3 FY 2025
Significant Infrastructure and Advanced Facilities (I&AF) Awards Announced in Q3 FY 2025 Water & Environmental Life Sciences & Adv. Manufacturing Critical Infrastructure Critical Infrastructure Little Miami Wastewater NVIDIA Digital Twin Blueprint DFW Airport Digital Marinus Link Integrated Delivery
Slide 6: Q3 FY 2025 Results
1 Q3 FY 2025 Results 1 1 Adj. Net Revenue Adj. EBITDA 1 1 Adj. EPS Backlog $2.23B $22.7B $2.08B $1.62 $314M $19.9B $277M $1.30 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 +7.0% y/y + 13.5% y/y + 24.6% y/y +14.3% y/y 1 See Use of Non-GAAP financial measures and operating metrics a
Slide 7: Q3 FY 2025 I&AF End Market Performance
Q3 FY 2025 I&AF End Market Performance Life Sciences & Critical Infrastructure Water & Environmental Advanced Manufacturing I&AF End Market Exposure Good growth across end Continued strength in Water Data Centers and Life Sciences Gross Revenue market with E&P and partially offset by remained strong
Slide 8: Segment Financials
Segment Financials $’s in millions for fiscal quarters Q3 2024 Q3 2025 Y/Y Y/Y CC Infrastructure and Advanced Facilities Operating Profit 208 236 13.4% 12.1% as a % of adj. net revenue 11.6% 12.4% 84 bps 83 bps PA Consulting Operating Profit 63 72 15.2% 8.6% as a % of revenue 21.8% 21.8% -5 bps -10
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Strong Q3 cash flow generation Net leverage at low-end of 1.0-1.5x target 3 Q3 FY 2025 cash flow from operations (CFFO) Net leverage ratio $293M 1.3x 1.1x 1.0x 1.0x Q3 FY 2025 free cash flow (FCF¹) $271M Record capital returns YTD in FY25 Q4’24 Q1’25 Q2’25 Q3’25 Repurchas
Slide 10: Raising FY 2025 Adjusted EPS Guidance
Raising FY 2025 Adjusted EPS Guidance Fiscal Year 2025 Assumptions Adjusted Net Revenue % Growth ~5.5% y/y FULLY DILUTED AVERAGE SHARE COUNT: 121.5-122M NET INTEREST EXPENSE: $106-109M Adjusted EBITDA Margin ~13.9% DEPRECIATION: $81-84M Adjusted EPS $6.00-6.10 FY ADJUSTED EFFECTIVE TAX RATE: 26-27%
Slide 11: Appendix
_ Appendix
Slide 12: Debt and Interest Overview
Debt and Interest Overview Debt Breakdown Fixed vs. Floating Debt Trend As of June 27, 2025 Tranche Balance Q3'25 Rate Q2'25 Rate USD Revolver $655M 5.5% 5.5% GBP Term Loans $563M 5.2% 5.5% $36.6 $35.8 $35.5 $36.1 Deferred Financing Cost -$9M — — $29.1 $28.8 $27.0 $25.2 Total Floating $1,209M 5.4% 5
Slide 13: Selected Financial Data
Selected Financial Data Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 $’s in millions (unaudited) 2024 2024 2024 2024 2024 2025 2025 2025 Infrastructure and Advanced Facilities Backlog 18,031 18,130 19,489 21,472 21,472 21,484 21,768 22,270 Gross Revenue 2,504 2,553 2,595 2,671 10,323 2,626 2,603 2,699 Pass Through Reven
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, June 27, 2023 2024 2024 2024 2024 2024 2025 2025 Segment Operatin
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 to Adjusted Earnings
Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings from Continuing Operations Attributable to Jacobs Before Taxes (in thousands) Three Months Ended June 27, 2025 June 28, 2024 Earnings from Continuing Operations Before Taxes $ 245,104 $ 136,465 Restructuring, Tra
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, June 27, 2023 2024 2024 2024 2024 2024 2025 2025 Operating Profit $ 142,000 $ 18
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 June 27, 2025 June 28, 2024 Operating Profit $ 235,014 $ 170,986 Restructuring, Transaction and Other Charges 22,673 57,042 Other Adjustments 50,707 43,030 Jacobs Adjusted Operating Profit 308,394 271
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 June 27, 2025 June 28, 2024 Net Earnings Attributable to Jacobs from Continuing Operations $ 181,234 $ 82,924
Slide 22: Reconciliation of Diluted Net Earnings Per Share 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 June 27, 2025 June 28, 2024 Diluted Net Earnings from Continuing Operations Per Share $ 1.56 $ 0.66 After-tax effects of
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 June 27, 2025 June 28, 2024 June 27, 2025 Net Earnings Attributable to Jacobs from Continuing Operations $ 181,234 $ 82,924 $ 484,565 After-tax ef
Slide 24: Reconciliation of LTM Net Earnings to LTM Adjusted EBITDA
Reconciliation of LTM Net Earnings Attributable to Jacobs from Continuing Operations to LTM Adjusted EBITDA (in thousands) Twelve Months Ended September 27, 2024 December 27, 2024 March 28, 2025 June 27, 2025 Net Earnings Attributable to Jacobs from Continuing Operations $ 612,804 $ 467,330 $ 386,25
Slide 25: Reconciliation of Earnings Attributable to Noncontrolling Interests
Reconciliation of Earnings Attributable to Noncontrolling Interests from Continuing Operations to Adjusted Earnings Attributable to Noncontrolling Interests from Continuing Operations (in thousands) Three Months Ended June 27, 2025 June 28, 2024 Earnings Attributable to Noncontrolling Interests from
Slide 26: 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 June 27, 2025 June 28, 2024 Miscellaneous Expense from Continuing Operations $ 38,844 $ 1,550 Other Adjustments (1): Transition Services A
Slide 27: 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 June 27, 2025 June 28, 2024 Income Tax Expense from Continuing Operations $ (53,752) $ (45,272) Tax Effects of Restructuring, Transaction and Ot
Slide 28: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands) Three Months Ended June 27, 2025 June 28, 2024 Net cash provided by operating activities 292,594 482,602 Additions to property and equipment (22,052) (37,664) Free cash flow $ 270,542 $ 444,938 Net cash used for investing activities $ (22,048) $ (37,65
Slide 29: 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 June 27, 2025 June 28, 2024 Critical Infrastructure Revenue $ 1,142,216 $ 1,076,586 Pass Through Revenue (221,055) (210,220) Adjusted Net Revenue $ 921,161 $ 866,366 Water and Environmental Re
Slide 30: 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 Q3 FY 25 Adj. Net Revenue 2,231 1,899 333 Currency Impact (34) (15) (18) Adj. Net Revenue in Constant Currency 2,198 1,8
Slide 31: 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 Q3 FY 25 Adj. Operating Profit 308 236 72 Currency Impact (7) (3) (4) Adj. Operating Profit in Constant Currency 302 23
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