Earnings Summary: Jacobs Solutions reports higher Q3 2023 revenues

Jacobs Solutions Inc. (NYSE: J), a leading provider of technical professional services, reported an increase in third-quarter revenues. The company also provided guidance for fiscal 2023.

  • Third-quarter revenue increased 9% year-over-year to $4.2 billion; rises 10% in constant currency
  • Earnings per share from continuing operations decreased 15.1% annually to $1.29 in Q3; adjusted EPS dropped 2.2% to $1.82
  • Cash provided by operations came in at $321 million; the company continues to expect 100% underlying cash conversion in FY23
  • Jacobs repurchased $125 million in shares in the June quarter
  • For fiscal year 2023, the management expects adjusted EBITDA to be in the range of $1.42 billion to $1.47 billion
  • Full-year earnings per share, on an adjusted basis, is expected to be between $7.25 and $7.45

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