secwatch.observer — SEC 8-K summary
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Issuer:     JACOBS SOLUTIONS INC. (J)
CIK:        0000052988
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000052988-23-000022
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/52988/000005298823000022/0000052988-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/52988/000005298823000022/j-20230509.htm
  HTML page:      https://secwatch.observer/filing/0000052988-23-000022

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