Jacobs Solutions Inc. reported its financial results for the fiscal second quarter ending March 28, 2025. The company achieved gross revenue of $2.9 billion, marking a 2.2% increase year-over-year, while adjusted net revenue saw a 3.1% rise compared to the same period last year. The results were impacted by a reserve following an interim ruling against a consolidated joint venture during the quarter. The company recorded GAAP net earnings of $11.2 million for the quarter. However, a significant mark-to-market loss of $109.5 million on its Amentum investment adversely affected the GAAP net income. Jacobs reported an adjusted EBITDA of $287 million. The company's backlog grew by 20% year-over-year, reaching $22.2 billion, with a trailing twelve-month book-to-bill ratio of 1.3x. In addition, Jacobs repurchased $351 million of its shares during the second quarter, contributing to a total of $552 million repurchased in the first half of fiscal year 2025. In a strategic business update, Jacobs announced its exit from the retained stake in Amentum and scheduled a distribution of the remaining shares for May 30th. The company reaffirmed its full-year fiscal 2025 guidance, citing robust bookings and a healthy pipeline of opportunities across its end markets.
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