Jacobs Solutions Inc. (J) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.035 comments here on end market trends, cash flow, and balance sheet data. 00:00:04.035 -- 00:00:08.060 Finally, Bob will provide closing remarks, and then we'll open up the call for questions. 00:00:08.060 -- 00:00:12.044 With that, I'll turn it over to our chair and CEO, Bob Pergata. 00:00:12.044 -- 00:00:16.288 Good afternoon, everyone, and thank you for joining us to discuss our first quarter 2026 00:00:16.288 -- 00:00:21.554 business performance. We delivered very strong results for Q1, exceeding our 00:00:21.554 -- 00:00:27.000 expectations across all key metrics and made incremental progress toward 00:00:27.000 -- 00:00:32.557 achieving our FY29 targets. I'll quickly highlight a few key takeaways. 00:00:32.557 -- 00:00:37.604 First, adjusted EPS grew 15% to $1.53, 00:00:37.604 -- 00:00:42.931 supported by robust 8% net revenue growth and solid underlying 00:00:42.931 -- 00:00:47.958 margin performance. Second, our backlog grew 21% 00:00:47.958 -- 00:00:53.245 to over $26 billion, setting a new record, with our trailing 12-month 00:00:53.245 -- 00:00:58.548 book to bill rising to 1.4 times. And third, we announced an agreement 00:00:58.548 -- 00:01:03.534 with the shareholders of PA Consulting to acquire the remaining stake in the company. 00:01:03.534 -- 00:01:09.402 We see PA's core competencies in digital consulting, innovation, and AI advisory 00:01:09.402 -- 00:01:14.789 as a force multiplier for Jacobs and a key accelerant in our strategy to redefine 00:01:14.789 -- 00:01:16.852 the asset lifecycle. 00:01:16.852 -- 00:01:22.319 In summary, we are exiting Q1 with momentum, and this strong start to the year 00:01:22.319 -- 00:01:27.939 gives us confidence to increase our FY26 outlook, for net revenue, 00:01:27.939 -- 00:01:34...