Slide 1: Jacobs Fiscal 2025 First Quarter Results
Jacobs Fiscal 2025 First Quarter Results February 4, 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 Upcoming events Performance overview Recent notable project wins Financial review Q1 FY 2025 results Q1 FY 2025 end market and segment review Balance sheet and cash flow review Outlook & Summary Q&A 3 ©Jacobs 2025 2024
Slide 4: Jacobs Investor Day 2025: Challenge accepted
Jacobs Investor Day 2025 Challenge accepted. February 18, 2025 Miami, Florida Key highlights ▪ Unveiling Jacobs' long-term strategic vision ▪ Detailing our differentiated value proposition ▪ Presenting our financial outlook for FY25-29 Add the webcast to your calendar today at invest.jacobs.com. 4 ©
Slide 5: Q1 FY 2025 Results Summary
Q1 FY 2025 Results Summary Q1 FY 2025 Results 1 ▪ GAAP gross revenue of $2.9B (+4.4% y/y) and adjusted net revenue of $2.1B (+5.1% y/y) 1 ▪ GAAP net loss of $17M ( -113.3% y/y) and adjusted net income of $166M (-9.6% y/y) 1 ▪ Adjusted EBITDA of $282M (+23.6% y/y) 1 1 ▪ Adjusted EBITDA margin of 13.5
Slide 6: Significant awards in Q1 FY 2025
Significant awards in Q1 FY 2025 Water & Environmental Life Sciences & Adv. Manufacturing Critical Infrastructure Critical Infrastructure Jackson, Mississippi Water Confidential Life Sciences River Torrens to Darlington BusConnects Dublin Treatment System Projects South Australia Ireland United Stat
Slide 7: Q1 FY 2025 Results
1 Q1 FY 2025 Results 1 1 Adj. Net Revenue Adj. EBITDA 1 Adj. EPS 1 Backlog $282M $21.8B $2.1B $1.45 $2.0B $228M $1.33 $18.3B Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 +5.1% y/y + 23.6% y/y -8.3% y/y +18.9% y/y Significant tax benefit of 2 $0.49/share in Q1 2024 1 See Use of Non
Slide 8: Q1 FY 2025 Infrastructure and Advanced Facilities end market performance
Q1 FY 2025 Infrastructure and Advanced Facilities (I&AF) end market performance Life Sciences & Advanced Water & Environmental Manufacturing Critical Infrastructure I&AF End Market Exposure Strong performance in Strong Life Sciences growth Continued strength in the Gross Revenue Water, globally most
Slide 9: Segment financials
Segment financials $’s in millions for fiscal quarters Q1 2024 Q1 2025 Y/Y Y/Y CC Infrastructure and Advanced Facilities Adj. Operating Profit 167 210 25.6% 25.2% as a % of adj. net revenue 10.0% 11.8% 185 bps 186 bps PA Consulting Operating Profit 54 67 22.6% 19.6% as a % of revenue 17.8% 21.8% 396
Slide 10: Balance sheet and cash flow
Balance sheet and cash flow Solid cash flow generation Debt and leverage metrics for Q1 FY 2025 Q1 FY 2025 cash flow from operations (CFFO) FIXED DEBT % OF TOTAL $107M 65% 63% 63% Q1 FY 2025 free cash flow (FCF¹) 58% $97M 51% Announced $1.5B share repurchase authorization Q1’24 Q2’24 Q3’24 Q4’24 Q1’
Slide 11: Raising FY 2025 adjusted EPS guidance range
Raising FY 2025 adjusted EPS guidance range Fiscal Year 2025 Assumptions Adjusted Net Revenue % Growth mid-to-high single digits y/y FULLY DILUTED AVERAGE SHARE COUNT: ~123M NET INTEREST EXPENSE: $95-105M Adjusted EBITDA Margin 13.8-14.0% DEPRECIATION: $92-98M Adjusted EPS $5.85-$6.20 FY ADJUSTED EF
Slide 12: Appendix
_ Appendix
Slide 13: Debt and interest overview
Debt and interest overview Debt Breakdown Fixed vs Floating Debt Trend As of December 27, 2024 Tranche Balance This Year Rate Last Year Rate USD Revolver $428M 5.6% 6.6% GBP Term Loans $808M 5.9% 6.3% Total Floating $1,236M 5.8% 6.4% $36.6 $36.2 $35.8 $35.5 $36.1 $33.1 Public Bond (due 2033) $500M 5
Slide 14: Selected financial data
Selected financial data Q1 Q2 Q3 Q4 FY Q1 $’s in millions (unaudited) 2024 2024 2024 2024 2024 2025 Infrastructure and Advanced Facilities Backlog 18,031 18,130 19,489 21,472 21,472 21,484 Gross Revenue 2,504 2,553 2,595 2,671 10,323 2,626 Pass Through Revenue (829) (773) (798) (841) (3,242) (850) A
Slide 15: Environmental, Social & Governance (ESG) at Jacobs
Environmental, Social & Governance (ESG) 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 outcom
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 Before Taxes (in thousands) Three Months Ended December 27, December 29, 2024 2023 Earnings from Continuing Operations Before Taxes $ 53,147 $ 103,205 Restructuring, Transaction and Oth
Slide 19: Reconciliation of Operating Profit to Adjusted Operating Profit
Reconciliation of Operating Profit to Adjusted Operating Profit (in thousands) Three Months Ended December 27, December 29, 2024 2023 Operating Profit $ 208,418 $ 142,000 Restructuring, Transaction and Other Charges (1): Focus 2023 Transformation, mainly real estate rescaling efforts — 49 Transactio
Slide 20: Reconciliation of I&AF Operating Profit to Adjusted I&AF Operating Profit
Reconciliation of I&AF Operating Profit to Adjusted I&AF Operating Profit (in thousands) Three Months Ended December 27, December 29, 2024 2023 I&AF Operating Profit $ 157,776 $ 128,892 SG&A associated with the Transition Services Agreement 7,856 — Amortization of intangibles 38,661 36,931 Other (1)
Slide 21: Reconciliation of Operating Profit to Adjusted Earnings Per Share
Reconciliation of Operating Profit to Adjusted Earnings Per Share (in thousands) Three Months Ended December 27, December 29, 2024 2023 Operating Profit $ 208,418 $ 142,000 Restructuring, Transaction and Other Charges 16,095 41,349 Other Adjustments 52,498 38,496 Adjusted Operating Profit 277,011 22
Slide 22: 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 December 27, December 29, 2024 2023 Net (Loss) Earnings Attributable to Jacobs from Continuing Operations $ (1
Slide 23: Reconciliation of Diluted Net Earnings Per Share to Adjusted
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 December 27, December 29, 2024 2023 Diluted Net (Loss) Earnings from Continuing Operations Per Share $ (0.10) $ 1.03 Aft
Slide 24: Reconciliation of Net Earnings to Adjusted EBITDA
Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands) Three Months Ended December 27, 2024 December 29, 2023 Net (Loss) Earnings Attributable to Jacobs from Continuing Operations $ (17,129) $ 128,346 After-tax effects of Restructuring, Tra
Slide 25: 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 December 27, December 29, 2024 2023 Noncontrolling Interests from Continuing Operations $ (13,127) $ (6,469) Restructuring, Transact
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 December 27, December 29, 2024 2023 Miscellaneous Expense from Continuing Operations $ (130,107) $ (2,964) Restructuring, Transaction and
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 December 27, 2024 December 29, 2023 Income Tax (Expense) Benefit from Continuing Operations $ (57,149) $ 31,610 Tax Effects of Restructuring, Tr
Slide 28: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow (in thousands) Three Months Ended December 27, December 29, 2024 2023 Net cash provided by operating activities 107,456 418,361 Additions to property and equipment (10,333) (17,306) Free cash flow $ 97,123 $ 401,055 Net cash used for investing activities $ (7,920) $
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 December 27, December 29, 2024 2023 Critical Infrastructure Revenue $ 1,090,657 $ 1,041,500 Pass Through Revenue (211,468) (204,081) Adjusted Net Revenue $ 879,189 $ 837,419 Water and Environm
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 Q1 FY 25 Adj. Net Revenue 2,082 1,776 307 Currency Impact (16) (6) (10) Adj. Net Revenue in Constant Currency 2,067 1,77
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 Q1 FY 25 Adj. Operating Profit 277 210 67 Currency Impact (2) (1) (2) Adj. Operating Profit in Constant Currency 275 21
Slide 32: Challenging today.
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