|
|
|
|
|||||
|
|
|
Robust Q3 gross revenue and adjusted net revenue growth of 34% and 8% y/y, respectively
Record backlog of $28.9 billion, up 27% y/y, with TTM book-to-bill ratio of 1.4x (1.2x adj. NR)
Engineering News-Record (ENR) ranks Jacobs #1 in 18 categories including data centers, up 6 y/y
Generated $456 million in cash from operations in Q3, resulting in strong free cash flow
Repurchased $142 million of Jacobs shares in Q3, $614 million year-to-date
Raising FY 2026 guidance for the third consecutive quarter, reflecting strong business momentum
DALLAS--(BUSINESS WIRE)--#OurJacobs--Jacobs Solutions Inc. (NYSE: J) today announced its financial results for the fiscal third quarter ended June 26, 2026.
Q3 2026 Highlights1:
Jacobs' Chair and CEO Bob Pragada commented, “We delivered robust overall third quarter results driven by strength in Infrastructure & Advanced Facilities (I&AF) as segment gross revenue increased 39% year-on-year and adjusted net revenue increased 10% - all organic. Within I&AF, revenue growth was broad-based, led by the Data Center, Semiconductor, Energy & Power, Transportation and Water sectors. Our private sector and utility clients continue to boost capital spending, contributing to accelerating organic growth in our I&AF segment and record performance in our Life Sciences & Advanced Manufacturing end market. Importantly, we are seeing diversified revenue growth. The combination of strong execution, a record backlog position and a rising pipeline of opportunities across both I&AF and PA Consulting gives us confidence in our long-term trajectory. Focusing on FY26, we are raising the midpoints of our guidance for adjusted net revenue growth and adjusted EPS for the third consecutive time this year."
Jacobs' CFO Venk Nathamuni added, “We're very pleased with our Q3 performance. We are now well ahead of our initial FY26 expectations and remain on track to reach or exceed all of our FY29 targets. As spending on the AI build-out has ramped up, we have been able to leverage our cross-cutting portfolio of solutions to help deliver increasingly complex manufacturing and compute facilities. Top-tier revenue growth, paired with good operating performance, drove solid quarter-over-quarter improvement in our margin profile, which was further complemented by $456 million in reported cash generated from operating activities during Q3. The resulting increase in free cash flow helped reduce our net leverage to below our year-end target, even as we repurchased $614 million of our shares year-to-date. In summary, we are exiting Q3 in a very strong financial position with good momentum in our business as we prepare for the next fiscal year."
Financial Outlook3
The Company’s outlook for fiscal 2026 is for adjusted net revenue to grow 9.5% to 10.0% over fiscal 2025 (versus prior forecast of 8.0% to 10.5%), adjusted EBITDA margin to range from 14.7% to 14.8% (versus prior forecast of 14.6% to 14.9%), adjusted EPS to range from $7.20 to $7.30 (versus prior forecast of $7.10 to $7.35) and adjusted free cash flow margin to be approximately 8% (versus prior forecast of 7.0% to 8.5%).
1All data reflects continuing operations only. |
2See Non-GAAP Financial Measures and Operating Metrics, and GAAP Reconciliations at the end of the press release for additional detail. |
3Reconciliation of fiscal 2026 adjusted EBITDA margin, adjusted EPS and expectations for adjusted net revenue growth and adjusted FCF margin to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation, including with respect to the costs and charges relating to transaction expenses, restructuring and integration to be incurred in fiscal 2026. |
Third Quarter Review (in thousands, except per-share data)
| Fiscal Q3 2026 | Fiscal Q3 2025 | Change |
Revenue | $4,076,410 | $3,031,768 | $1,044,642 |
Adjusted Net Revenue1 | $2,416,608 | $2,231,276 | $185,332 |
GAAP Net Earnings (Loss) from Continuing Operations | $137,359 | $181,234 | ($43,875) |
GAAP Earnings (Loss) Per Diluted Share (EPS) from Continuing Operations | $1.16 | $1.56 | ($0.40) |
Adjusted Net Earnings from Continuing Operations1 | $219,263 | $194,833 | $24,430 |
Adjusted EPS from Continuing Operations1 | $1.84 | $1.62 | $0.22 |
U.S. GAAP effective tax rate from Continuing Operations | 43.4% | 21.9% | 2,150 bps |
Adjusted effective tax rate from Continuing Operations1 | 26.4% | 24.8% | 160 bps |
1See "Non-GAAP Financial Measures and Operating Metrics" and the GAAP Reconciliation tables that follow for additional detail. |
The Company’s adjusted net earnings from continuing operations and adjusted EPS from continuing operations for the third quarter of fiscal 2026 and fiscal 2025 exclude certain adjustments that are further described in the section entitled “Non-GAAP Financial Measures” at the end of this release. For a reconciliation of Revenue to Adjusted Net Revenue, see "Segment Information" below.
Jacobs is hosting a conference call at 4:30 P.M. ET on Tuesday, August 4, 2026, which it is webcasting live at www.jacobs.com.
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as “expects,” “anticipates,” “believes,” “seeks,” “estimates,” “plans,” “intends,” “future,” “will,” “would,” “could,” “can,” “may,” "target," "goal" and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make concerning our expectations as to our trajectory and momentum and future growth, prospects, financial outlook and business strategy, including our expectations for our fiscal year 2026 adjusted EBITDA margin, adjusted EPS, adjusted net revenue growth and adjusted free cash flow margin, as well as our expectations for our effective tax rates, and any assumptions underlying any of the foregoing. Although such statements are based on management's current estimates and expectations, and/or currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. Such factors include but are not limited to:
The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements see the Company’s filings with the U.S. Securities and Exchange Commission, including in particular the discussions contained in our fiscal 2025 Annual Report on Form 10-K under Item 1 - Business, Item 1A - Risk Factors, Item 3 - Legal Proceedings, and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations; and in our most recently filed Quarterly Report on Form 10-Q under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
Regulation FD
We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.jacobs.com, including information that may be deemed to be material. We encourage investors and others interested in the Company to monitor these distribution channels for material disclosures.
About Jacobs
At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world’s most complex challenges. With approximately $12 billion in annual revenue and a team of approximately 47,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we’re creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn, Instagram, X and Facebook.
Financial Highlights:
Results of Operations (in thousands, except per-share data):
| For the Three Months Ended |
| For the Nine Months Ended | ||||||||||||
| June 26, 2026 |
| June 27, 2025 |
| June 26, 2026 |
| June 27, 2025 | ||||||||
Revenues | $ | 4,076,410 |
|
| $ | 3,031,768 |
|
| $ | 11,064,572 |
|
| $ | 8,875,139 |
|
Direct cost of contracts |
| (3,265,707 | ) |
|
| (2,273,358 | ) |
|
| (8,693,726 | ) |
|
| (6,657,118 | ) |
Gross profit |
| 810,703 |
|
|
| 758,410 |
|
|
| 2,370,846 |
|
|
| 2,218,021 |
|
Selling, general and administrative expenses |
| (524,000 | ) |
|
| (523,396 | ) |
|
| (1,932,758 | ) |
|
| (1,565,942 | ) |
Operating Profit |
| 286,703 |
|
|
| 235,014 |
|
|
| 438,088 |
|
|
| 652,079 |
|
Other Income (Expense): |
|
|
|
|
|
|
| ||||||||
Interest income |
| 8,306 |
|
|
| 8,297 |
|
|
| 25,235 |
|
|
| 27,478 |
|
Interest expense |
| (54,652 | ) |
|
| (37,051 | ) |
|
| (129,981 | ) |
|
| (110,451 | ) |
Loss on extinguishment of debt |
| — |
|
|
| — |
|
|
| — |
|
|
| (20,510 | ) |
Miscellaneous income (expense), net |
| 890 |
|
|
| 38,844 |
|
|
| (16,480 | ) |
|
| (194,523 | ) |
Total other (expense) income, net |
| (45,456 | ) |
|
| 10,090 |
|
|
| (121,226 | ) |
|
| (298,006 | ) |
Earnings from Continuing Operations Before Taxes |
| 241,247 |
|
|
| 245,104 |
|
|
| 316,862 |
|
|
| 354,073 |
|
Income Tax Expense from Continuing Operations |
| (104,635 | ) |
|
| (53,752 | ) |
|
| (132,656 | ) |
|
| (161,477 | ) |
Net Earnings of the Group from Continuing Operations |
| 136,612 |
|
|
| 191,352 |
|
|
| 184,206 |
|
|
| 192,596 |
|
Net Loss of the Group from Discontinued Operations, net of tax |
| (806 | ) |
|
| (1,629 | ) |
|
| (3,142 | ) |
|
| (8,180 | ) |
Net Earnings of the Group |
| 135,806 |
|
|
| 189,723 |
|
|
| 181,064 |
|
|
| 184,416 |
|
Net Loss (Earnings) Attributable to Noncontrolling Interests from Continuing Operations |
| 747 |
|
|
| (4,442 | ) |
|
| 9,170 |
|
|
| 1,209 |
|
Net (Earnings) Loss Attributable to Redeemable Noncontrolling Interests |
| — |
|
|
| (5,676 | ) |
|
| 25,943 |
|
|
| (18,539 | ) |
Net Earnings Attributable to Jacobs from Continuing Operations |
| 137,359 |
|
|
| 181,234 |
|
|
| 219,319 |
|
|
| 175,266 |
|
Net Loss Attributable to Jacobs from Discontinued Operations |
| (806 | ) |
|
| (1,629 | ) |
|
| (3,142 | ) |
|
| (8,180 | ) |
Net Earnings Attributable to Jacobs | $ | 136,553 |
|
| $ | 179,605 |
|
| $ | 216,177 |
|
| $ | 167,086 |
|
Net Earnings Per Share: |
|
|
|
|
|
|
| ||||||||
Basic Net Earnings from Continuing Operations Per Share | $ | 1.17 |
|
| $ | 1.56 |
|
| $ | 1.98 |
|
| $ | 1.54 |
|
Basic Net Loss from Discontinuing Operations Per Share | $ | (0.01 | ) |
| $ | (0.01 | ) |
| $ | (0.03 | ) |
| $ | (0.07 | ) |
Basic Earnings Per Share | $ | 1.16 |
|
| $ | 1.55 |
|
| $ | 1.95 |
|
| $ | 1.47 |
|
|
|
|
|
|
|
|
| ||||||||
Diluted Net Earnings from Continuing Operations Per Share | $ | 1.16 |
|
| $ | 1.56 |
|
| $ | 1.96 |
|
| $ | 1.53 |
|
Diluted Net Loss from Discontinuing Operations Per Share | $ | (0.01 | ) |
| $ | (0.01 | ) |
| $ | (0.03 | ) |
| $ | (0.07 | ) |
Diluted Earnings Per Share | $ | 1.15 |
|
| $ | 1.55 |
|
| $ | 1.94 |
|
| $ | 1.46 |
|
Segment Information (in thousands):
| For the Three Months Ended |
| For the Nine Months Ended | ||||||||||||||||||
| June 26, 2026 |
| June 26, 2026 | ||||||||||||||||||
Unaudited | Infrastructure & Advanced Facilities |
| PA Consulting |
| Total |
| Infrastructure & Advanced Facilities |
| PA Consulting |
| Total | ||||||||||
Revenues from External Customers (1) | $ | 3,746,900 |
|
| $ | 329,510 |
| $ | 4,076,410 |
|
| $ | 10,022,055 |
|
| $ | 1,042,517 |
| $ | 11,064,572 |
|
Pass Through Revenue |
| (1,659,802 | ) |
|
| — |
|
| (1,659,802 | ) |
|
| (4,067,426 | ) |
|
| — |
|
| (4,067,426 | ) |
Adjusted Net Revenue | $ | 2,087,098 |
|
| $ | 329,510 |
| $ | 2,416,608 |
|
| $ | 5,954,629 |
|
| $ | 1,042,517 |
| $ | 6,997,146 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Segment Operating Profit (1) | $ | 268,125 |
|
| $ | 73,643 |
| $ | 341,768 |
|
| $ | 708,089 |
|
| $ | 238,399 |
| $ | 946,488 |
|
Restructuring, Transaction and Other Charges (2) |
|
|
|
|
| (21,613 | ) |
|
|
|
|
|
| (402,889 | ) | ||||||
Amortization of Intangible Assets |
|
|
|
|
| (33,452 | ) |
|
|
|
|
|
| (105,511 | ) | ||||||
Total U.S. GAAP Operating Profit |
|
|
|
| $ | 286,703 |
|
|
|
|
|
| $ | 438,088 |
| ||||||
Total Other (Expense) Income, net (3) |
|
|
|
|
| (45,456 | ) |
|
|
|
|
|
| (121,226 | ) | ||||||
Earnings from Continuing Operations Before Taxes |
|
|
|
| $ | 241,247 |
|
|
|
|
|
| $ | 316,862 |
| ||||||
(1) | The nine months ended June 26, 2026 I&AF revenue and operating profit in comparison to the corresponding periods for fiscal 2025 reflected lower charges in connection with the Consolidated JV Matter (as defined below). |
(2) | The nine months ended June 26, 2026 included $237.5 million in charges for certain subsidiary level compensation based agreements and $122.7 million primarily relating to consideration costs to specified PA Consulting employees which represent compensation expense in connection with the PA Consulting Transaction. The three and nine months ended June 26, 2026 included $7.6 million and $17.5 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), as well as $13.8 million and $22.0 million, respectively, in restructuring and other charges relating to the PA Consulting Transaction (primarily professional services, internal personnel dedicated to integration initiatives resulting from the PA Consulting Transaction and employee separation costs). |
(3) | The three and nine months ended June 26, 2026 included $6.2 million in mark-to-market gains related to investments in equity securities carried at fair value. The nine months ended June 26, 2026 included a $20.5 million loss on the foreign exchange forward contract in connection with the PA Consulting Transaction. |
| For the Three Months Ended |
| For the Nine Months Ended | ||||||||||||||||||
| June 27, 2025 |
| June 27, 2025 | ||||||||||||||||||
Unaudited | Infrastructure & Advanced Facilities |
| PA Consulting |
| Total |
| Infrastructure & Advanced Facilities |
| PA Consulting |
| Total | ||||||||||
Revenues from External Customers (1) | $ | 2,699,062 |
|
| $ | 332,706 |
| $ | 3,031,768 |
|
| $ | 7,928,023 |
|
| $ | 947,116 |
| $ | 8,875,139 |
|
Pass Through Revenue |
| (800,492 | ) |
|
| — |
|
| (800,492 | ) |
|
| (2,422,420 | ) |
|
| — |
|
| (2,422,420 | ) |
Adjusted Net Revenue | $ | 1,898,570 |
|
| $ | 332,706 |
| $ | 2,231,276 |
|
| $ | 5,505,603 |
|
| $ | 947,116 |
| $ | 6,452,719 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Segment Operating Profit (1) | $ | 235,975 |
|
| $ | 72,418 |
| $ | 308,393 |
|
| $ | 649,514 |
|
| $ | 206,502 |
| $ | 856,016 |
|
Restructuring, Transaction and Other Charges (2) |
|
|
|
|
| (34,134 | ) |
|
|
|
|
|
| (87,991 | ) | ||||||
Amortization of Intangible Assets |
|
|
|
|
| (39,245 | ) |
|
|
|
|
|
| (115,946 | ) | ||||||
Total U.S. GAAP Operating Profit |
|
|
|
| $ | 235,014 |
|
|
|
|
|
| $ | 652,079 |
| ||||||
Total Other (Expense) Income, net (3) |
|
|
|
|
| 10,090 |
|
|
|
|
|
|
| (298,006 | ) | ||||||
Earnings from Continuing Operations Before Taxes |
|
|
|
| $ | 245,104 |
|
|
|
|
|
| $ | 354,073 |
| ||||||
(1) | The nine months ended June 27, 2025 I&AF revenue and operating profit were impacted by a reserve in connection with an unfavorable interim ruling against a consolidated joint venture in which the Company holds a 50% interest (the "Consolidated JV Matter"), with the noncontrolling partner’s share included in noncontrolling interests in the Consolidated Statements of Earnings for the respective period. |
(2) | The three and nine months ended June 27, 2025 included $22.0 million and $47.1 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), as well as $6.8 million and $20.7 million, respectively, in charges for certain subsidiary level compensation based agreements. The three and nine months ended June 27, 2025 included approximately $4.7 million and $20.9 million, respectively, in charges associated with the Company's TSA with Amentum. |
(3) | The three and nine months ended June 27, 2025 included gains of $27.4 million and losses of $227.3 million, respectively, mainly related to mark-to-market adjustments and other related charges associated with our former investment in Amentum stock in connection with the Separation Transaction, as well as $9.8 million and $31.5 million, respectively, in income associated with the Company's TSA with Amentum. The nine months ended June 27, 2025 included $20.5 million in discounts and expenses associated with the Equity for-Debt Transaction. |
Balance Sheets (in thousands):
| June 26, 2026 |
| September 26, 2025 | ||||
| Unaudited |
|
| ||||
ASSETS |
|
|
| ||||
Current Assets: |
|
|
| ||||
Cash and cash equivalents | $ | 1,172,914 |
|
| $ | 1,235,448 |
|
Receivables and contract assets |
| 3,760,646 |
|
|
| 2,989,067 |
|
Prepaid expenses and other |
| 149,764 |
|
|
| 134,804 |
|
Investment in equity securities |
| 6,198 |
|
|
| — |
|
Total current assets |
| 5,089,522 |
|
|
| 4,359,319 |
|
Property, Equipment and Improvements, net |
| 311,566 |
|
|
| 311,872 |
|
Other Noncurrent Assets: |
|
|
| ||||
Goodwill |
| 4,756,461 |
|
|
| 4,780,818 |
|
Intangibles, net |
| 604,199 |
|
|
| 717,670 |
|
Deferred income tax assets |
| 249,428 |
|
|
| 325,814 |
|
Operating lease right-of-use assets |
| 310,816 |
|
|
| 289,101 |
|
Miscellaneous |
| 421,710 |
|
|
| 467,941 |
|
Total other noncurrent assets |
| 6,342,614 |
|
|
| 6,581,344 |
|
| $ | 11,743,702 |
|
| $ | 11,252,535 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
| ||||
Current Liabilities: |
|
|
| ||||
Accounts payable | $ | 1,777,936 |
|
| $ | 1,261,489 |
|
Accrued liabilities |
| 1,040,176 |
|
|
| 1,037,754 |
|
Operating lease liabilities |
| 114,698 |
|
|
| 111,040 |
|
Contract liabilities |
| 1,020,485 |
|
|
| 940,616 |
|
Total current liabilities |
| 3,953,295 |
|
|
| 3,350,899 |
|
Long-term debt |
| 3,579,376 |
|
|
| 2,236,456 |
|
Liabilities relating to defined benefit pension and retirement plans |
| 258,019 |
|
|
| 272,069 |
|
Deferred income tax liabilities |
| 142,059 |
|
|
| 151,821 |
|
Long-term operating lease liabilities |
| 360,589 |
|
|
| 362,361 |
|
Other deferred liabilities |
| 199,716 |
|
|
| 212,330 |
|
Total other noncurrent liabilities |
| 4,539,759 |
|
|
| 3,235,037 |
|
Commitments and Contingencies |
|
|
| ||||
Redeemable Noncontrolling interests |
| — |
|
|
| 1,018,694 |
|
Stockholders’ Equity: |
|
|
| ||||
Capital stock: |
|
|
| ||||
Preferred stock, $1 par value, authorized - 1,000,000 shares; issued and outstanding - none |
| — |
|
|
| — |
|
Common stock, $1 par value, authorized - 240,000,000 shares; issued and outstanding - 117,132,889 shares and 119,081,294 shares as of June 26, 2026 and September 26, 2025, respectively |
| 117,133 |
|
|
| 119,081 |
|
Additional paid-in capital |
| 2,933,533 |
|
|
| 2,706,376 |
|
Retained earnings |
| 946,455 |
|
|
| 1,525,760 |
|
Accumulated other comprehensive loss |
| (732,632 | ) |
|
| (710,410 | ) |
Total Jacobs stockholders’ equity |
| 3,264,489 |
|
|
| 3,640,807 |
|
Noncontrolling interests |
| (13,841 | ) |
|
| 7,098 |
|
Total Group stockholders’ equity |
| 3,250,648 |
|
|
| 3,647,905 |
|
| $ | 11,743,702 |
|
| $ | 11,252,535 |
|
Statements of Cash Flows (in thousands)
| For the Three Months Ended |
| For the Nine Months Ended | ||||||||||||
Unaudited | June 26, 2026 |
| June 27, 2025 |
| June 26, 2026 |
| June 27, 2025 | ||||||||
Cash Flows from Operating Activities: |
|
|
|
|
|
|
| ||||||||
Net Earnings of the Group | $ | 135,806 |
|
| $ | 189,723 |
|
| $ | 181,064 |
|
| $ | 184,416 |
|
Adjustments to reconcile net earnings to net cash flows provided by operations: |
|
|
|
|
|
|
| ||||||||
Depreciation and amortization: |
|
|
|
|
|
|
| ||||||||
Property, equipment and improvements |
| 23,737 |
|
|
| 21,077 |
|
|
| 67,557 |
|
|
| 62,038 |
|
Intangible assets |
| 33,452 |
|
|
| 39,245 |
|
|
| 105,511 |
|
|
| 115,946 |
|
Loss on extinguishment of debt |
| — |
|
|
| — |
|
|
| — |
|
|
| 20,510 |
|
(Gain) loss on investment in equity securities |
| (6,198 | ) |
|
| (27,372 | ) |
|
| (6,198 | ) |
|
| 227,305 |
|
Stock based compensation |
| 18,503 |
|
|
| 13,079 |
|
|
| 56,882 |
|
|
| 47,421 |
|
Equity in earnings of operating ventures, net of return on capital distributions |
| (2,313 | ) |
|
| 321 |
|
|
| (4,960 | ) |
|
| (503 | ) |
Loss (gain) on disposals of assets, net |
| 488 |
|
|
| 119 |
|
|
| 1,010 |
|
|
| (777 | ) |
Deferred income taxes |
| 41,686 |
|
|
| (52,991 | ) |
|
| 66,970 |
|
|
| (53,794 | ) |
Changes in assets and liabilities: |
|
|
|
|
|
|
| ||||||||
Receivables and contract assets, net of contract liabilities |
| (78,918 | ) |
|
| (122,672 | ) |
|
| (594,961 | ) |
|
| (225,280 | ) |
Prepaid expenses and other current assets |
| 37,350 |
|
|
| 42,410 |
|
|
| 4,763 |
|
|
| 16,168 |
|
Miscellaneous other assets |
| 20,217 |
|
|
| 8,321 |
|
|
| 68,218 |
|
|
| 49,570 |
|
Accounts payable |
| 295,507 |
|
|
| 129,710 |
|
|
| 517,619 |
|
|
| 96,323 |
|
Accrued liabilities |
| (74,919 | ) |
|
| 48,118 |
|
|
| (139,989 | ) |
|
| (228,933 | ) |
Other deferred liabilities |
| 11,709 |
|
|
| 2,619 |
|
|
| 18,569 |
|
|
| 10,192 |
|
Other, net |
| 12 |
|
|
| 887 |
|
|
| 10,703 |
|
|
| (16,983 | ) |
Net cash provided by operating activities |
| 456,119 |
|
|
| 292,594 |
|
|
| 352,758 |
|
|
| 303,619 |
|
Cash Flows from Investing Activities: |
|
|
|
|
|
|
| ||||||||
Additions to property and equipment |
| (25,125 | ) |
|
| (22,052 | ) |
|
| (61,722 | ) |
|
| (49,655 | ) |
Disposals of property and equipment and other assets |
| — |
|
|
| 4 |
|
|
| 4,506 |
|
|
| 2,332 |
|
Capital contributions to equity investees, net of return of capital distributions |
| 28 |
|
|
| — |
|
|
| 362 |
|
|
| 932 |
|
Net cash used for investing activities |
| (25,097 | ) |
|
| (22,048 | ) |
|
| (56,854 | ) |
|
| (46,391 | ) |
Cash Flows from Financing Activities: |
|
|
|
|
|
|
| ||||||||
Net (repayments) proceeds from borrowings |
| (505,000 | ) |
|
| (157,000 | ) |
|
| 1,351,172 |
|
|
| 589,420 |
|
Debt issuance costs |
| (1,028 | ) |
|
| — |
|
|
| (16,475 | ) |
|
| (92 | ) |
Proceeds from issuances of common stock |
| 8,961 |
|
|
| 8,281 |
|
|
| 26,177 |
|
|
| 25,467 |
|
Common stock repurchases |
| (142,214 | ) |
|
| (100,845 | ) |
|
| (614,058 | ) |
|
| (653,247 | ) |
Taxes paid on vested restricted stock |
| (6,971 | ) |
|
| (5,904 | ) |
|
| (29,211 | ) |
|
| (26,992 | ) |
Cash dividends to shareholders |
| (42,243 | ) |
|
| (38,935 | ) |
|
| (123,439 | ) |
|
| (114,813 | ) |
Net dividends associated with noncontrolling interests |
| (4,711 | ) |
|
| (3,994 | ) |
|
| (11,743 | ) |
|
| (7,440 | ) |
Repurchase of redeemable noncontrolling interests and related costs |
| (33,968 | ) |
|
| (4,406 | ) |
|
| (917,591 | ) |
|
| (8,472 | ) |
Cash Impact from distribution of SpinCo Business |
| — |
|
|
| 70,000 |
|
|
| — |
|
|
| 70,000 |
|
Net cash used for financing activities |
| (727,174 | ) |
|
| (232,803 | ) |
|
| (335,168 | ) |
|
| (126,169 | ) |
Effect of Exchange Rate Changes |
| (3,283 | ) |
|
| 52,763 |
|
|
| (8,575 | ) |
|
| 17,990 |
|
Net (Decrease) Increase in Cash and Cash Equivalents and Restricted Cash |
| (299,435 | ) |
|
| 90,506 |
|
|
| (47,839 | ) |
|
| 149,049 |
|
Cash and Cash Equivalents, including Restricted Cash, at the Beginning of the Period |
| 1,488,412 |
|
|
| 1,205,474 |
|
|
| 1,236,816 |
|
|
| 1,146,931 |
|
Cash and Cash Equivalents, including Restricted Cash, at the End of the Period | $ | 1,188,977 |
|
| $ | 1,295,980 |
|
| $ | 1,188,977 |
|
| $ | 1,295,980 |
|
For additional information contact:
Investors:
Bert Subin
JacobsIR@jacobs.com
Media:
Louise White
louise.white@jacobs.com
469-724-0810
| 44 min | |
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