Jacobs Solutions Inc. (J) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to Jacobs Fiscal Second Quarter 2026 Earnings Conference Call and Webcast. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. If you would like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, press star 1 again. I would now like to turn the conference over to Bert Subin, Senior Vice President, Investor Relations. Thank you. You may begin. solid year-on-year margin expansion, and continued robust sales activity. I'll quickly highlight a few key takeaways. First, adjusted EPS grew 22% to $1.75, supported by 9% organic net revenue growth, outpacing the 8% growth rate in Q1, and 70 basis points of year-on-year margin expansion. Our backlog grew 22% to $27 billion, setting another new record with a trailing 12-month book to bill of 1.4 times on gross revenue and 1.2 times on net revenue. And third, we completed the acquisition of PA Consulting, which we celebrated together by ringing the closing bell at the New York Stock Exchange in March. In summary, we're exiting Q2 with significant momentum, and the strong first half of the year gives us confidence to increase our FY26 outlook for the second time in two quarters, which Venk will walk through shortly. Turning to slide four, we provide a detailed overview of the quarter. We are very pleased with Q2 results as strong operating performance paired with our lower share count drove the fifth straight quarter of double-digit growth in adjusted EPS. During Q2, We also delivered another quarterly book to bill above 1.0 times with both gross and net coming in at 1.2 times. The addition of the net revenue book to bill metric will provide a use...