By Josee Rose

Jacobs Solutions fiscal second-quarter results fell but the company backed its full-year guidance.

The provider of engineering, technical, professional, and construction services said net income for the quarter ended March 28 dropped to $5.61 million, or 10 cents a share, from $162.1 million, or 73 cents a share, a year earlier.

Analysts polled by Factset had expected earnings of $1.23 a share.

On an adjusted basis, earnings were $1.43 a share, compared with analyst expectations of $1.39 a share.

Revenue rose to $2.91 billion, while analysts had expected revenue of $3 billion.

The quarter was hurt by higher expenses and included a loss on the extinguishment of debt, and the company said its bottom line was hurt from "an adverse interim ruling against a consolidated JV in which the company holds a 50% interest."

The backlog at the end of the quarter was $22.2 billion, up 20% from a year earlier.

Looking ahead, Jacobs Solutions reaffirmed its fiscal-year outlook. Chair and CEO Bob Pragada said in a statement the company expects "tailwinds in both segments from robust bookings as well as a healthy pipeline of opportunities across our end markets."

The company still expects adjusted earnings of $5.85 to $6.20 a share and adjusted revenue to grow mid-to-high single digits from fiscal 2024.

Analysts are expecting full-year adjusted earnings of $1.69 a share.

Write to Josee Rose at josee.rose@wsj.com

(END) Dow Jones Newswires

May 06, 2025 07:13 ET (11:13 GMT)

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