Jacobs Solutions Q3: Bottomline Miss, Revenue Beat, Reaffirmed FY23 Outlook & More
Portfolio Pulse from Lekha Gupta
Jacobs Solutions Inc (NYSE:J) reported Q3 FY23 revenue growth of 9.4% Y/Y to $4.19 billion, beating the consensus of $4.05 billion. However, adjusted EPS from continuing operations declined by 2.2% Y/Y to $1.82, missing the consensus of $1.84. The company's backlog increased by 2.9% Y/Y to $28.9 billion. Jacobs Solutions reaffirmed its FY23 adjusted EBITDA outlook at $1.42 billion-$1.47 billion and adjusted EPS of $7.25-$7.45.
August 08, 2023 | 2:42 pm
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Jacobs Solutions reported mixed Q3 FY23 results with revenue beating consensus but EPS missing. The company reaffirmed its FY23 outlook.
The mixed results with a revenue beat but an EPS miss could lead to uncertainty among investors, potentially causing some short-term volatility in the stock price. However, the reaffirmation of the FY23 outlook may provide some reassurance.
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