Jacobs Solutions Inc. Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Net revenue increased 10% year-over-year, with growth across all business lines.
  • Backlog rose 9% year-over-year, supported by record professional services bookings and improved gross profit profile.
  • PA Consulting delivered strong results with 15% reported revenue growth (19% constant currency) and a 23% adjusted operating margin. This performance is comparable to PA’s FY21 constant-currency revenue growth of 24%.
  • Advanced Facilities business achieved record year-over-year growth driven by semiconductor, life sciences, and EV sector demand.
  • Adjusted EBITDA guidance tightened to a range of $1.385B–$1.435B (unchanged midpoint). Adjusted EPS guidance narrowed to $6.95–$7.35 (midpoint maintained).
  • Jacobs reaffirmed expectations for strong organic growth beyond 2022, with solid cash flow generation supporting ongoing capital deployment.

Strategic & ESG Developments

  • Jacobs advanced its new “Boldly Moving Forward” strategy, emphasizing climate response, consulting and advisory, and data solutions.
  • Approximately $6 billion of annual revenue now comes from ESG and climate-related solutions.
  • Launched an updated Climate Action Plan aligned with international net-zero standards, targeting:
    • Net-zero across the value chain by 2040

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Operator: Good day. My name is Savannah , and I’ll be your conference operator for today. At this time, I’d like to welcome everyone to the Jacobs’ Fiscal Second Quarter 2022 Earnings Conference Call and Webcast. Today’s call is being recorded. All lines have been placed on mute to prevent any background noise. And after the speaker’s remark, there will be a question-and-answer session. Thank you. And I would now like to turn the conference over to Jonathan Doros. Please go ahead. Jonathan Doros: Thank you, Savannah. Good morning to all. Our earnings announcement and 10-Q were filed this morning and we have posted a copy of this slide presentation on our website, which we will reference during the call. I would like to refer you to Slide 2 of the presentation materials for information regarding forward-looking statements, non-GAAP financial measures and pro forma figures. For pro forma comparisons, the current and prior periods include the results of recent acquisitions, including StreetLight Data and BlackLynx as well as our strategic investment in PA Consulting for the full period. Turning to the agenda on Slide 3. Speaking on today’s call will be our Jacobs’ Chair and CEO, Steve Demetriou; President and Chief Operating Officer, Bob Pragada; and President and Chief Financial Officer, Kevin Berryman. Steve will begin by updating the progress we are making against our strategy and then discuss the launch of our Climate Action Plan; Bob will then review our performance by lin

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