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Jacobs Solutions Inc. (J-3.12%) has submitted its 10-Q filing for the quarterly period ended December 27, 2024.
The filing includes financial statements for the quarter, reporting revenues of $2.93 billion, an increase from $2.81 billion in the same quarter the previous year. The increase was primarily driven by growth in the Infrastructure & Advanced Facilities segment.
Net loss attributable to Jacobs from continuing operations was reported at $(17.1) million, compared to net earnings of $128.3 million in the previous year. The loss was largely due to $145.2 million in mark-to-market losses on the company's investment in Amentum stock.
Jacobs reported a gross profit of $721.3 million for the quarter, up from $664.7 million in the previous year, with gross profit margins of 24.6% compared to 23.7% in the previous year.
Selling, general, and administrative expenses were $512.8 million, slightly down from $522.7 million in the same quarter last year, mainly due to lower restructuring and other charges.
Net cash provided by operating activities was $107.5 million, compared to $418.4 million in the previous year, reflecting higher uses of cash from increases in net working capital.
The company had $1.30 billion in cash and cash equivalents at the end of the quarter, with $1.74 billion of available borrowing capacity under its revolving credit facility.
Jacobs' backlog increased to $21.8 billion from $18.3 billion the previous year, driven by growth in the Infrastructure & Advanced Facilities segment.
The filing also details the company's restructuring initiatives, which are expected to result in significant cost savings by the end of fiscal 2025.
Jacobs' effective tax rate for the quarter was 107.5%, impacted by unfavorable tax effects associated with its investment in Amentum stock.
The company continues to focus on its strategic initiatives, including its investment in PA Consulting and the completion of the Separation Transaction of its SpinCo Business.
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. quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.