EarningsQ3 2026 Earnings Report
MX:J Q3 2026 EPS Results
Actual EPS$33.30
Consensus EPS$33.02
Beat/MissBeat by +$0.27
One Year Ago EPS$29.31
MX:J Q3 2026 Revenue Results
Actual Revenue$73.72B
Expected Revenue$43.49B
Beat/MissBeat by +$30.22B
YoY Revenue Growth+34.49%
Earnings Announcement Details
QuarterQ3 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
MX:J Upcoming Earnings
Jacobs Solutions's next earnings date is estimated for November 24, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:J Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial picture: double-digit adjusted EPS growth, record backlog (+27% to $29B), robust adjusted EBITDA margin expansion (15.2%, +109 bps YoY), accelerating Life Sciences & Advanced Manufacturing (24% YoY) and expanding AI/data center exposure (11% of net revenue). Cash generation and aggressive share repurchases, plus early achievement of leverage targets, further reinforce momentum. Lowlights are limited to sector-specific headwinds in Water & Environmental (near-term low growth), temporary PA timing disruptions from U.K. government changes, some geographic lumpiness (Middle East), and a few one-time reporting adjustments around free cash flow and PA-related GAAP/non-GAAP treatment. Overall, positives materially outweigh the manageable near-term challenges, positioning the company for continued profitable growth into FY '27.Company Guidance
Adjusted EPS Growth
Adjusted EPS increased approximately 14% year-over-year to $1.84 in Q3, marking the sixth straight quarter of double-digit adjusted EPS growth and a third consecutive guidance raise for FY '26.
Adjusted Net Revenue and Gross Revenue Growth
Adjusted net revenue (excludes pass-through) grew more than 8% year-over-year (all organic) in Q3 while gross revenue increased more than 34% year-over-year, reflecting strong top-line momentum.
Adjusted EBITDA and Margin Expansion
Q3 adjusted EBITDA was $367 million, up 17% year-over-year, with an adjusted EBITDA margin of 15.2%, a 109 basis point improvement year-over-year and nearly 200 basis points vs. Q3 2024.
Record Backlog and Book-to-Bill
Consolidated backlog grew 27% year-over-year to a record $29 billion with trailing 12-month book-to-bill of 1.4x on gross revenue and 1.2x on net revenue, indicating strong awards activity and forward visibility.
Life Sciences & Advanced Manufacturing Surge
Net revenue in Life Sciences and Advanced Manufacturing grew 24% year-over-year in Q3 — the highest growth rate since the company began reporting end markets — driven by data center and semiconductor work.
I&AF Segment Strength
Infrastructure & Advanced Facilities (I&AF) posted nearly $2.1 billion in net revenue (a 10% year-over-year increase and a quarterly record) and operating profit increased 14% year-over-year on 10% net revenue growth.
AI / Data Center Exposure and Pipeline Expansion
Direct AI/data center work represented 11% of adjusted net revenue in Q3 (up ~100 basis points from prior quarter). Management reports a 2-3x increase in the data center pipeline and longer visibility (2-3 years) in opportunities.
Notable Project Awards
Key wins include U.S. Navy environmental restoration program work, Central Utah Water District Strawberry High Line project, Hut 8 Beacon Point EPCM contract for a 1 GW AI campus, and RAF Optimise support — underscoring diversified, high-impact awards across sectors.
Cash Generation and Capital Returns
Q3 adjusted free cash flow was $541 million (YTD adjusted FCF $633 million). The company repurchased $614 million of shares in Q3 (total repurchases since FY '25 of $1.4 billion) and expects to return >100% of free cash flow to shareholders for the second consecutive year.
Balance Sheet Progress and Leverage
Net leverage declined to 1.8x at quarter-end, reaching the target below 2.0x a quarter early, with a plan to further delever to ~1.5x by end of FY '27.
Upgraded FY '26 Guidance
Management raised FY '26 guidance: adjusted net revenue growth to 9.5%-10.0% YoY, adjusted EBITDA margin to 14.7%-14.8%, adjusted EPS to $7.20-$7.30 (implying ~19% YoY EPS growth at midpoint), and adjusted free cash flow margin to 8%.
PA Consulting Performance
PA Consulting delivered flattish revenue with operating margin above 22%, helping overall margin performance and contributing to integration synergies.
MX:J Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed