Jacobs Solutions Inc. reported a net loss of $18.1 million for the first fiscal quarter of 2025, translating to a loss of $0.11 per diluted share, a significant decline from net earnings of $171.6 million, or $1.37 per diluted share, in the same period last year. The company's revenues increased to $2.93 billion, up 4.4% from $2.81 billion year-over-year, driven primarily by growth in its Infrastructure & Advanced Facilities (I&AF) segment, which saw revenues rise to $2.63 billion, a 4.9% increase. The PA Consulting segment also contributed with revenues of $306.7 million, a slight increase from the previous year.
The financial performance was impacted by $145.2 million in pre-tax losses related to the company's investment in Amentum stock, following the completion of a significant separation transaction. Additionally, Jacobs incurred $16.1 million in restructuring and other charges primarily associated with the separation, compared to $41.4 million in the prior year. The effective tax rate for the quarter was notably high at 107.5%, influenced by non-deductible losses from the Amentum investment and state income tax expenses.
In terms of operational developments, Jacobs has continued to expand its share repurchase program, with $270.8 million remaining under the 2023 authorization, and a new $1.5 billion program authorized in January 2025. The company also declared a quarterly dividend of $0.32 per share, payable in March 2025. Employee headcount remains stable at approximately 45,000, reflecting the company's commitment to maintaining its workforce amid ongoing restructuring efforts.
Jacobs' backlog increased to $21.8 billion as of December 27, 2024, up from $18.3 billion a year earlier, indicating strong demand across its service offerings, particularly in water, life sciences, and transportation sectors. The company continues to focus on strategic growth areas, including climate response and data solutions, as part of its long-term vision to address complex global challenges. Looking ahead, Jacobs anticipates leveraging its liquidity, which includes $1.3 billion in cash and $1.74 billion in available borrowing capacity, to support ongoing operations and strategic initiatives.
About JACOBS SOLUTIONS INC.
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