Jacobs Solutions Inc. Reports Fiscal Q4 and Full-Year 2024 Financial Results
Jacobs Solutions Inc. (NYSE: J) has announced its financial results for the fiscal fourth quarter and the fiscal year ending September 27, 2024.
Key Financial Metrics (in billions, except EPS)
| Financial Metric | Q4 2024 | Y/Y Change | FY 2024 | Y/Y Change |
|---|---|---|---|---|
| Revenue | $3.0 | +4.4% | $11.5 | +6.0% |
| Net Income | $0.309 | +333.1% | $0.613 | +61.6% |
| EPS | $2.38 | +277.8% | $4.79 | +57.0% |
| Adjusted EPS | $1.37 | +28.0% | $5.28 | +15.8% |
Interpretation: The company experienced substantial growth in both net income and earnings per share in the fourth quarter, marking significant improvements over the previous year. The fiscal year results reflect consistent overall growth, underscored by improved margins and higher profitability.
Key Developments and Operational Highlights
- Successful completion of the separation and merger of the Critical Mission Solutions (CMS) and Cyber & Intelligence (C&I) businesses into Amentum (NYSE: AMTM).
- A 23% year-over-year increase in project backlog, with a trailing twelve-month book-to-bill ratio of 1.35x.
- Q4 book-to-bill ratio of 1.67x.
- Backlog increased to $21.8 billion, advancing by 22.5% y/y.
Comments from Company Officials
Bob Pragada, Chair and CEO of Jacobs, highlighted the successful strategic shift driven by the separation transaction, emphasizing improved focus and demand strength in critical sectors such as Water and Environmental and Life Sciences. CFO Venk Nathamuni mentioned exceeding cash conversion targets and maintaining a robust balance sheet post-separation, emphasizing continued investment in growth and shareholder returns, including $545 million returned through dividends and share repurchases.
Dividends and Share Repurchase Program
The company returned $545 million in fiscal year 2024 through dividends and share repurchases, reflecting its commitment to shareholder value.
Forward Guidance
Jacobs projects adjusted net revenue to grow mid-to-high single digits in fiscal 2025 with adjusted EPS expected between $5.80 and $6.20, alongside an adjusted EBITDA margin forecast of 13.8-14.0%.
Stock Price Movement
Post earnings release, Jacobs' stock price experienced a slight increase of approximately 0.24%.
Jacobs Solutions Inc. remains on a trajectory of strategic and financial growth, underscored by its operational efficiencies and strategic divestitures, positioning it favorably for the upcoming fiscal year.
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