Engineering Services Company Jacobs Solutions' Q1 Earnings Outshine Forecasts And Backlog Booms: Details
Portfolio Pulse from Nabaparna Bhattacharya
Jacobs Solutions Inc. (NYSE:J) reported Q1 earnings that exceeded forecasts with a 9.5% revenue growth year over year to $4.159 billion, surpassing the consensus of $3.67 billion. Adjusted EPS was $2.02, beating the consensus of $1.51. The backlog increased by 4.7% year over year to $29.6 billion, with a 6.1% increase in gross profit in backlog. The company also announced an 11.5% quarterly dividend increase to $0.29 and reiterated its fiscal 2024 adjusted EBITDA and EPS outlook. Shares rose by 1.78% to $139.44.
February 06, 2024 | 4:27 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Jacobs Solutions Inc. reported strong Q1 earnings, with significant revenue growth and an increased backlog, alongside a dividend hike and a positive stock price movement.
The positive earnings report, exceeding consensus forecasts for both revenue and adjusted EPS, indicates strong company performance and operational efficiency. The increase in backlog suggests future revenue stability, while the dividend hike reflects confidence in financial health. These factors, combined with the positive outlook reiteration, are likely to boost investor confidence and support a short-term positive impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100