Q1 2025 Jacobs Solutions Inc Earnings Call Transcript
Key Points
- Total gross revenue increased over 4% in Q1, with adjusted net revenue rising over 5%.
- Adjusted EBITDA for Q1 was $282 million, representing a 24% year-on-year increase.
- Consolidated backlog increased 19% year-over-year in Q1, with a trailing 12-month book-to-bill ratio of 1.3x.
- Significant contract wins in critical infrastructure, including the River Torrens to Darlington project in South Australia and the BusConnects Dublin program.
- Strong performance in the Water and Environmental segment, with double-digit revenue growth across all major geographies.
- GAAP EPS was negative $0.10, impacted by a $1.16 mark-to-market loss on investment in Amentum.
- Adjusted EPS decreased by 8% compared to the previous year, primarily due to an unfavorable tax comparison.
- Life sciences and advanced manufacturing segment showed mixed results, with life sciences strong but advanced manufacturing soft.
- Free cash flow for Q1 was $97 million, with a more back half-weighted cadence expected for the full year.
- Exposure to potential federal spending cuts, though less than 10% of business is tied to federal agencies.
Ladies and Gentlemen, thank you for standing by. My name is Krista and I will be your conference operator today. At this time, I would like to welcome everyone to the Jacobs Solutions fiscal first quarter 2025 earnings conference call and webcast.
(Operator Instructions)
I would now like to turn the conference over to Bert Subin, Senior Vice President, Investor Relations. Bert, you may begin.
Thank you, Krista, and good morning, everyone. Our earnings announcement and 10-Q were filed this morning, and we have posted a slide presentation our website which will reference during the call. I would like to refer you to slide 2 of the presentation material for information about our forward-looking statements, non-gap financial measures, and operating metrics.
Turning to the agenda on slide 3. Speaking onto this call will be Jacob's chair and CEO, Bob Pergada, and CFO, Venk Nathamuni. Bob will begin by providing an overview of recent activities and highlights from our
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