In This Story
Jacobs Solutions Inc. (J+0.69%) has submitted its 10-K filing for the fiscal year ended September 27, 2024.
The filing details the company's financial performance, including revenues of $11.5 billion, an increase from $10.85 billion in the previous year. This growth was attributed to improved performance in the Infrastructure & Advanced Facilities segment and higher revenues in the PA Consulting business.
Net earnings attributable to Jacobs from continuing operations were $612.8 million, up from $379.1 million in the prior year. This increase was driven by higher operating profit and favorable impacts from mark-to-market gains associated with the company's investment in Amentum stock.
The company reported a gross profit of $2.83 billion, an increase from $2.71 billion the previous year. Gross profit margins remained consistent year over year at approximately 24.6%.
Selling, general, and administrative expenses were $2.14 billion, up from $2.03 billion, impacted by restructuring and other charges primarily related to the Separation Transaction.
Jacobs completed the Separation Transaction, which involved the spin-off of its Critical Mission Solutions and portions of its Divergent Solutions businesses to Amentum Holdings, Inc. This resulted in the classification of these operations as discontinued.
The company ended the fiscal year with a backlog of $21.8 billion, an increase from $17.8 billion the previous year, driven by new business awards in the Americas.
Jacobs reported cash and cash equivalents of $1.14 billion at the fiscal year-end, an increase from $770.9 million, supported by strong operating cash flows.
The company continues to focus on its strategy of expanding its presence in high-growth sectors, aligning with long-term trends such as infrastructure renewal and sustainability.
Jacobs' Board of Directors declared dividends totaling $0.29 per share for each quarter of the fiscal year, consistent with the prior year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Jacobs Solutions Inc. annual 10-K report dated November 25, 2024. To report an error, please email earnings@qz.com.