Jacobs reports Q2 earnings beat, announces plan to spin off CMS business into separate public company

JACOBS SOLUTIONS INC.

Revenue $4.1B (+6.4% YoY); adjusted EPS $1.81 (+5% YoY); operating profit +74%.
People and Places Solutions operating profit up 21% YoY; backlog $29B (+4%).
FY2023 guidance narrowed: adjusted EBITDA $1.42-1.47B; adjusted EPS $7.25-7.45.
Board approves spin-off of CMS (FY2022 revenue $4.4B) to create two public companies; tax-free to shareholders.
Spin-off targeted for H2 FY2024; subject to IRS ruling, SEC filing, and final board approval.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JACOBS SOLUTIONS INC. reported the fiscal second quarter ended March 31, 2023 results: revenue $4.1 billion, EPS $1.70.

Period: the fiscal second quarter ended March 31, 2023
Revenue: $4.1 billion
EPS: $1.70
Result: reported results

Exact text from the filing

Jacobs Solutions Inc. (NYSE: J) today announced its financial results for the fiscal second quarter ended March 31, 2023. Q2 2023 Highlights: ▪ Revenue of $4.1 billion up 6.4% y/y

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Source: SEC EDGAR

accession 0000052988-23-000022

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