Jacobs Solutions Inc. (NYSE:J) delivered stronger-than-expected fiscal fourth-quarter results on Thursday, lifting its shares 1.6% in early trading after the release.
The company reported adjusted EPS of $1.75, ahead of the $1.67 analysts were looking for. Revenue for the quarter ended September 26, 2025, came in at $3.2 billion, beating the $3.15 billion consensus estimate and rising 6.6% year over year. Adjusted net revenue improved 5.8% YoY to $2.2 billion.
Jacobs also announced a record backlog of $23.1 billion, up 5.6% from the prior year, supported by a book-to-bill ratio of 1.1x for both the quarter and the trailing twelve months.
Adjusted earnings grew sharply, with adjusted EPS up 27.7% YoY and adjusted EBITDA increasing 12% to $324 million. GAAP results were weighed down in part by mark-to-market adjustments tied to the company’s prior stake in Amentum.
“We are pleased to have met or exceeded all our key metrics for FY25,” said Bob Pragada, Jacobs’ Chair and CEO. “We grew revenue organically mid-single-digits year-over-year and expanded our operating margin meaningfully.”
Looking ahead, Jacobs is projecting adjusted EPS of $6.90 to $7.30 for fiscal 2026. The midpoint of $7.10 signals 16% growth from fiscal 2025 and comes in slightly ahead of analyst expectations of $7.01. Management anticipates 6%–10% adjusted net revenue growth next year.
Jacobs returned a record $1.1 billion to shareholders in fiscal 2025 via buybacks and dividends and says it plans to continue aggressive capital returns, supported by strong cash flow and a solid balance sheet.
CFO Venk Nathamuni added, “We exited the first year of our strategy cycle above the high-end of the annual 50-80 basis point margin expansion target we established at our February Investor Day, and we are forecasting further margin improvement in FY26.”