Earnings release
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Jacobs Challenging today . Reinventing tomorrow . Press Release FOR IMMEDIATE RELEASE 1999 Bryan Street , Suite 3500 Dallas , Texas 75201 1.214.583.8500 Exhibit 99.1 August 4 , 2026
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Jacobs Reports Strong Fiscal Third Quarter 2026 Results Robust Q3 Gross Revenue and Adjusted Net Revenue Growth of 34% and 8% y/y, Respectively Record Backlog of $28.9 billion, Up 27% y/y, with TTM Book-to-Bill Ratio of 1.4x (1.2x Adj. NR) Engineering News-Record (ENR) Ranks Jacobs #1 in 18 Categories Including Data Centers, Up 6 y/y Generated $456 million in Cash from Operations in Q3, Resulting in Strong Free Cash Flow Repurchased $142 Million of Jacobs Shares in Q3, $614 Million Year-to-Date Raising FY 2026 Guidance for the Third Consecutive Quarter, Reflecting Strong Business Momentum DALLAS, TEXAS - Jacobs Solutions Inc. (NYSE: J) today announced its financial results for the fiscal third quarter ended June 26, 2026. Q3 2026 Highlights: • Gross revenue of $4.1 billion up 34.5% y/y; adjusted net revenue of $2.4 billion up 8.3% y/y • GAAP net earnings of $137.4 million (vs. net earnings of $181.2 million in Q3 2025) with GAAP net earnings reflecting a temporarily higher tax rate associated with the PA acquisition transaction; adjusted EBITDA of $366.8 million increased 16.7% y/y • GAAP EPS of $1.16 (vs. EPS of $1.56 in Q3 2025) with GAAP EPS reflecting a temporarily higher tax rate associated with the PA acquisition transaction; adjusted EPS of $1.84 increased 13.6% y/y • Backlog of $28.9 billion up 27.3% y/y • Q3 book-to-bill of 1.5x (1.4x TTM); Q3 adjusted net revenue book-to-bill of 1.1x (1.2x TTM) Jacobs' Chair and CEO Bob Pragada commented, “We delivered robust overall third quarter results driven by strength in Infrastructure & Advanced Facilities (I&AF) as segment gross revenue increased 39% year-on-year and adjusted net revenue increased 10% - all organic. Within I&AF, revenue growth was broad-based, led by the Data Center, Semiconductor, Energy & Power, Transportation and Water sectors. Our private sector and utility clients continue to boost capital spending, contributing to accelerating organic growth in our I&AF segment and record performance in our Life Sciences & Advanced Manufacturingend market. Importantly, we are seeing diversified revenue growth. The combination of strong execution, a record backlog position and a rising pipeline of opportunities across both I&AF and PA Consulting gives us confidence in our long-term trajectory. Focusing on FY26, we are raising the midpoints of our guidance for adjusted net revenue growth and adjusted EPS for the third consecutive time this year." Jacobs' CFO Venk Nathamuni added, “We're very pleased with our Q3 performance. We are now well ahead of our initial FY26 expectations and remain on track to reach or exceed all of our FY29 targets. As spending on the AI build-out has ramped up, we have been able to leverage our cross-cutting portfolio of solutions to help deliver increasingly complex manufacturing and compute facilities. Top-tier revenue growth, paired with good operating performance, drove solid quarter- over-quarter improvement in our margin profile, which was further complemented by $456 million in reported cash generated from operating activities during Q3. The resulting increase in free cash flow helped reduce our net leverage to below our year- end target, even as we repurchased $614 million of our shares year-to-date. In summary, we are exiting Q3 in a very strong financial position with good momentum in our business as we prepare for the next fiscal year." Financial Outlook 1 2 2 2 3 All data reflects continuing operations only. See Non-GAAP Financial Measures and Operating Metrics, and GAAP Reconciliations at the end of the press release for additional detail. Reconciliation of fiscal 2026 adjusted EBITDA margin, adjusted EPS and expectations for adjusted net revenue growth and adjusted FCF margin to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation, including with respect to the costs and charges relating to transaction expenses, restructuring and integration to be incurred in fiscal 2026. 2 1 2 3
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The Company’s outlook for fiscal 2026 is for adjusted net revenue to grow 9.5% to 10.0% over fiscal 2025 (versus prior forecast of 8.0% to 10.5%), adjusted EBITDA margin to range from 14.7% to 14.8% (versus prior forecast of 14.6% to 14.9%), adjusted EPS to range from $7.20 to $7.30 (versus prior forecast of $7.10 to $7.35) and adjusted free cash flow margin to be approximately 8% (versus prior forecast of 7.0% to 8.5%). 3
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Third Quarter Review (in thousands, except per-share data) Fiscal Q3 2026 Fiscal Q3 2025 Change Revenue $4,076,410 $3,031,768 $1,044,642 Adjusted Net Revenue $2,416,608 $2,231,276 $185,332 GAAP Net Earnings (Loss) from ContinuingOperations $137,359 $181,234 ($43,875) GAAP Earnings (Loss) Per Diluted Share (EPS) fromContinuing Operations $1.16 $1.56 ($0.40) Adjusted Net Earnings from Continuing Operations $219,263 $194,833 $24,430 Adjusted EPS from Continuing Operations $1.84 $1.62 $0.22 U.S. GAAP effective tax rate from ContinuingOperations 43.4% 21.9% 2,150 bps Adjusted effective tax rate from ContinuingOperations 26.4% 24.8% 160 bps See "Non-GAAP Financial Measures and Operating Metrics" and the GAAP Reconciliation tables that follow for additional detail. The Company’s adjusted net earnings from continuing operations and adjusted EPS from continuing operations for the third quarter of fiscal 2026 and fiscal 2025 exclude certain adjustments that are further described in the section entitled “Non- GAAP Financial Measures” at the end of this release. For a reconciliation of Revenue to Adjusted Net Revenue, see "Segment Information" below. Jacobs is hosting a conference call at 4:30 P.M. ET on Tuesday, August 4, 2026, which it is webcasting live at www.jacobs.com. Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as “expects,” “anticipates,” “believes,” “seeks,” “estimates,” “plans,” “intends,” “future,” “will,” “would,” “could,” “can,” “may,” "target," "goal" and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make concerning our expectations as to our trajectory and momentum and future growth, prospects, financial outlook and business strategy, including our expectations for our fiscal year 2026 adjusted EBITDA margin, adjusted EPS, adjusted net revenue growth and adjusted free cash flow margin, as well as our expectations for our effective tax rates, and any assumptions underlying any of the foregoing. Although such statements are based on management's current estimates and expectations, and/or currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. Such factors include but are not limited to: ▪ general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets and stock market volatility, instability in the banking industry, labor shortages, or the impact of a possible recession or economic downturn or changes to monetary or fiscal policies or priorities in the U.S. and the countries where we do business on our results, prospects and opportunities; ▪ competition from existing and future competitors in our target markets, as well as the possible reduction in demand for certain of our product solutions and services, including delays in the timing of the award of projects or reduction in funding, or the abandonment of ongoing or anticipated projects due to the financial condition of our clients and suppliers or due to governmental budget constraints or changes to governmental budgetary priorities, or the inability of our clients to meet their payment obligations in a timely manner or at all; ▪ our ability to fully execute on our corporate strategy, including the impact of acquisitions (including the transaction to acquire the remaining stake in PA Consulting (the "PA Consulting Transaction"), strategic alliances, divestitures, and other strategic events resulting from evolving business strategies, including on our ability to maintain our culture and retain key personnel, customers or suppliers, or our ability to achieve the cost-savings and synergies contemplated by our recent acquisitions within the expected time frames or to achieve them fully and to successfully integrate acquired businesses while retaining key personnel, and our ability to invest in and effectively deploy and use the tools, technologies and capabilities needed to implement our strategy, including 1 1 1 1 1
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artificial intelligence and other emerging technologies, and to manage the operational, legal, regulatory, cybersecurity, data privacy and reputational risks associated with the use of such technologies; ▪ financial market risks that may affect us, including by affecting our access to capital, the cost of such capital and/or our funding obligations under defined benefit pension and post-retirement plans; ▪ legislative changes, including potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, as well as other legislation and executive orders, including any directive to federal agencies to reduce federal spending or the size of the federal workforce, and changes in U.S. or foreign tax laws, including the tax legislation enacted in the U.S. in July 2025, statutes, rules, regulations or ordinances, including the impact of, and changes to, tariffs and retaliatory tariffs or trade policies, that may adversely impact our future financial position or results of operations; ▪ increased geopolitical uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, including the Russia-Ukraine conflict and on-going, escalated and/or future tensions and conflicts in the Middle East, among others; and ▪ the impact of any pandemic, and any resulting economic downturn on our results, prospects and opportunities, measures or restrictions imposed by governments and health officials in response to the pandemic, as well as the inability of governments in certain of the countries in which we operate to effectively mitigate the financial or other impacts of any future pandemics or infectious disease outbreaks on their economies and workforces and our operations therein. The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements see the Company’s filings with the U.S. Securities and Exchange Commission, including in particular the discussions contained in our fiscal 2025 Annual Report on Form 10-K under Item 1 - Business, Item 1A - Risk Factors, Item 3 - Legal Proceedings, and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations; and in our most recently filed Quarterly Report on Form 10-Q under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law. [ MORE ] 5
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Regulation FD We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.jacobs.com, includinginformation that may be deemed to be material. We encourage investors and others interested in the Company to monitorthese distribution channels for material disclosures. About Jacobs At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately $12 billion in annual revenue and a talent force of almost 47,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we're creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn, Instagram, X and Facebook. 6
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Financial Highlights: Results of Operations (in thousands, except per-share data): For the Three Months Ended For the Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Revenues $ 4,076,410 $ 3,031,768 $ 11,064,572 $ 8,875,139 Direct cost of contracts (3,265,707) (2,273,358) (8,693,726) (6,657,118) Gross profit 810,703 758,410 2,370,846 2,218,021 Selling, general and administrative expenses (524,000) (523,396) (1,932,758) (1,565,942) Operating Profit 286,703 235,014 438,088 652,079 Other Income (Expense): Interest income 8,306 8,297 25,235 27,478 Interest expense (54,652) (37,051) (129,981) (110,451) Loss on extinguishment of debt — — — (20,510) Miscellaneous income (expense), net 890 38,844 (16,480) (194,523) Total other (expense) income, net (45,456) 10,090 (121,226) (298,006) Earnings from Continuing Operations Before Taxes 241,247 245,104 316,862 354,073 Income Tax Expense from Continuing Operations (104,635) (53,752) (132,656) (161,477) Net Earnings of the Group from Continuing Operations 136,612 191,352 184,206 192,596 Net Loss of the Group from Discontinued Operations,net of tax (806) (1,629) (3,142) (8,180) Net Earnings of the Group 135,806 189,723 181,064 184,416 Net Loss (Earnings) Attributable to NoncontrollingInterests from Continuing Operations 747 (4,442) 9,170 1,209 Net (Earnings) Loss Attributable to RedeemableNoncontrolling Interests — (5,676) 25,943 (18,539) Net Earnings Attributable to Jacobs from ContinuingOperations 137,359 181,234 219,319 175,266 Net Loss Attributable to Jacobs from DiscontinuedOperations (806) (1,629) (3,142) (8,180) Net Earnings Attributable to Jacobs $ 136,553 $ 179,605 $ 216,177 $ 167,086 Net Earnings Per Share: Basic Net Earnings from Continuing Operations PerShare $ 1.17 $ 1.56 $ 1.98 $ 1.54 Basic Net Loss from Discontinuing Operations PerShare $ (0.01) $ (0.01) $ (0.03) $ (0.07) Basic Earnings Per Share $ 1.16 $ 1.55 $ 1.95 $ 1.47 Diluted Net Earnings from Continuing OperationsPer Share $ 1.16 $ 1.56 $ 1.96 $ 1.53 Diluted Net Loss from Discontinuing Operations PerShare $ (0.01) $ (0.01) $ (0.03) $ (0.07) Diluted Earnings Per Share $ 1.15 $ 1.55 $ 1.94 $ 1.46
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Segment Information (in thousands): For the Three Months Ended For the Nine Months Ended June 26, 2026 June 26, 2026 Unaudited Infrastructure &AdvancedFacilities PA Consulting Total Infrastructure &AdvancedFacilities PA Consulting Total Revenues from External Customers $ 3,746,900 $ 329,510 $ 4,076,410 $ 10,022,055 $ 1,042,517 $ 11,064,572 Pass Through Revenue (1,659,802) — (1,659,802) (4,067,426) — (4,067,426) Adjusted Net Revenue $ 2,087,098 $ 329,510 $ 2,416,608 $ 5,954,629 $ 1,042,517 $ 6,997,146 Segment Operating Profit $ 268,125 $ 73,643 $ 341,768 $ 708,089 $ 238,399 $ 946,488 Restructuring, Transaction and OtherCharges (21,613) (402,889) Amortization of Intangible Assets (33,452) (105,511) Total U.S. GAAP Operating Profit $ 286,703 $ 438,088 Total Other (Expense) Income, net (45,456) (121,226) Earnings from Continuing OperationsBefore Taxes $ 241,247 $ 316,862 (1)The nine months ended June 26, 2026 I&AF revenue and operating profit in comparison to the corresponding periods for fiscal 2025 reflected lower charges in connection with the Consolidated JV Matter (as defined below). (2)The nine months ended June 26, 2026 included $237.5 million in charges for certain subsidiary level compensation based agreements and$122.7 million primarily relating to consideration costs to specified PA Consulting employees which represent compensation expense inconnection with the PA Consulting Transaction. The three and nine months ended June 26, 2026 included $7.6 million and $17.5 million,respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employeeseparation costs), as well as $13.8 million and $22.0 million, respectively, in restructuring and other charges relating to the PA ConsultingTransaction (primarily professional services, internal personnel dedicated to integration initiatives resulting from the PA ConsultingTransaction and employee separation costs). (3)The three and nine months ended June 26, 2026 included $6.2 million in mark-to-market gains related to investments in equity securities carried at fair value. The nine months ended June 26, 2026 included a $20.5 million loss on the foreign exchange forward contract in connection with the PA Consulting Transaction. (1) (1) (2) (3) 8
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For the Three Months Ended For the Nine Months Ended June 27, 2025 June 27, 2025 Unaudited Infrastructure &AdvancedFacilities PA Consulting Total Infrastructure &AdvancedFacilities PA Consulting Total Revenues from External Customers $ 2,699,062 $ 332,706 $ 3,031,768 $ 7,928,023 $ 947,116 $ 8,875,139 Pass Through Revenue (800,492) — (800,492) (2,422,420) — (2,422,420) Adjusted Net Revenue $ 1,898,570 $ 332,706 $ 2,231,276 $ 5,505,603 $ 947,116 $ 6,452,719 Segment Operating Profit $ 235,975 $ 72,418 $ 308,393 $ 649,514 $ 206,502 $ 856,016 Restructuring, Transaction and OtherCharges (34,134) (87,991) Amortization of Intangible Assets (39,245) (115,946) Total U.S. GAAP Operating Profit $ 235,014 $ 652,079 Total Other (Expense) Income, net 10,090 (298,006) Earnings from Continuing OperationsBefore Taxes $ 245,104 $ 354,073 (1)The nine months ended June 27, 2025 I&AF revenue and operating profit were impacted by a reserve in connection with anunfavorable interim ruling against a consolidated joint venture in which the Company holds a 50% interest (the "ConsolidatedJV Matter"), with the noncontrolling partner’s share included in noncontrolling interests in the Consolidated Statements ofEarnings for the respective period. (2)The three and nine months ended June 27, 2025 included $22.0 million and $47.1 million, respectively, in restructuring andother charges relating to the Separation Transaction (primarily professional services and employee separation costs), as wellas $6.8 million and $20.7 million, respectively, in charges for certain subsidiary level compensation based agreements. Thethree and nine months ended June 27, 2025 included approximately $4.7 million and $20.9 million, respectively, in chargesassociated with the Company's TSA with Amentum. (3)The three and nine months ended June 27, 2025 included gains of $27.4 million and losses of $227.3 million, respectively,mainly related to mark-to-market adjustments and other related charges associated with our former investment in Amentumstock in connection with the Separation Transaction, as well as $9.8 million and $31.5 million, respectively, in incomeassociated with the Company's TSA with Amentum. The nine months ended June 27, 2025 included $20.5 million in discountsand expenses associated with the Equity for-Debt Transaction. (1) (1) (2) (3) 9
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Balance Sheets (in thousands): June 26, 2026 September 26, 2025 Unaudited ASSETS Current Assets: Cash and cash equivalents $ 1,172,914 $ 1,235,448 Receivables and contract assets 3,760,646 2,989,067 Prepaid expenses and other 149,764 134,804 Investment in equity securities 6,198 — Total current assets 5,089,522 4,359,319 Property, Equipment and Improvements, net 311,566 311,872 Other Noncurrent Assets: Goodwill 4,756,461 4,780,818 Intangibles, net 604,199 717,670 Deferred income tax assets 249,428 325,814 Operating lease right-of-use assets 310,816 289,101 Miscellaneous 421,710 467,941 Total other noncurrent assets 6,342,614 6,581,344 $ 11,743,702 $ 11,252,535 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Accounts payable $ 1,777,936 $ 1,261,489 Accrued liabilities 1,040,176 1,037,754 Operating lease liabilities 114,698 111,040 Contract liabilities 1,020,485 940,616 Total current liabilities 3,953,295 3,350,899 Long-term debt 3,579,376 2,236,456 Liabilities relating to defined benefit pension and retirement plans 258,019 272,069 Deferred income tax liabilities 142,059 151,821 Long-term operating lease liabilities 360,589 362,361 Other deferred liabilities 199,716 212,330 Total other noncurrent liabilities 4,539,759 3,235,037 Commitments and Contingencies Redeemable Noncontrolling interests — 1,018,694 Stockholders’ Equity: Capital stock: Preferred stock, $1 par value, authorized - 1,000,000 shares; issued andoutstanding - none — — Common stock, $1 par value, authorized - 240,000,000 shares; issued andoutstanding - 117,132,889 shares and 119,081,294 shares as of June 26, 2026 andSeptember 26, 2025, respectively 117,133 119,081 Additional paid-in capital 2,933,533 2,706,376 Retained earnings 946,455 1,525,760 Accumulated other comprehensive loss (732,632) (710,410) Total Jacobs stockholders’ equity 3,264,489 3,640,807 Noncontrolling interests (13,841) 7,098 Total Group stockholders’ equity 3,250,648 3,647,905 $ 11,743,702 $ 11,252,535 10
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Statements of Cash Flows (in thousands) For the Three Months Ended For the Nine Months Ended Unaudited June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Cash Flows from Operating Activities: Net Earnings of the Group $ 135,806 $ 189,723 $ 181,064 $ 184,416 Adjustments to reconcile net earnings to net cash flows provided by operations: Depreciation and amortization: Property, equipment and improvements 23,737 21,077 67,557 62,038 Intangible assets 33,452 39,245 105,511 115,946 Loss on extinguishment of debt — — — 20,510 (Gain) loss on investment in equity securities (6,198) (27,372) (6,198) 227,305 Stock based compensation 18,503 13,079 56,882 47,421 Equity in earnings of operating ventures, net of return on capital distributions (2,313) 321 (4,960) (503) Loss (gain) on disposals of assets, net 488 119 1,010 (777) Deferred income taxes 41,686 (52,991) 66,970 (53,794) Changes in assets and liabilities: Receivables and contract assets, net of contract liabilities (78,918) (122,672) (594,961) (225,280) Prepaid expenses and other current assets 37,350 42,410 4,763 16,168 Miscellaneous other assets 20,217 8,321 68,218 49,570 Accounts payable 295,507 129,710 517,619 96,323 Accrued liabilities (74,919) 48,118 (139,989) (228,933) Other deferred liabilities 11,709 2,619 18,569 10,192 Other, net 12 887 10,703 (16,983) Net cash provided by operating activities 456,119 292,594 352,758 303,619 Cash Flows from Investing Activities: Additions to property and equipment (25,125) (22,052) (61,722) (49,655) Disposals of property and equipment and other assets — 4 4,506 2,332 Capital contributions to equity investees, net of return of capital distributions 28 — 362 932 Net cash used for investing activities (25,097) (22,048) (56,854) (46,391) Cash Flows from Financing Activities: Net (repayments) proceeds from borrowings (505,000) (157,000) 1,351,172 589,420 Debt issuance costs (1,028) — (16,475) (92) Proceeds from issuances of common stock 8,961 8,281 26,177 25,467 Common stock repurchases (142,214) (100,845) (614,058) (653,247) Taxes paid on vested restricted stock (6,971) (5,904) (29,211) (26,992) Cash dividends to shareholders (42,243) (38,935) (123,439) (114,813) Net dividends associated with noncontrolling interests (4,711) (3,994) (11,743) (7,440) Repurchase of redeemable noncontrolling interests and related costs (33,968) (4,406) (917,591) (8,472) Cash Impact from distribution of SpinCo Business — 70,000 — 70,000 Net cash used for financing activities (727,174) (232,803) (335,168) (126,169) Effect of Exchange Rate Changes (3,283) 52,763 (8,575) 17,990 Net (Decrease) Increase in Cash and Cash Equivalents and Restricted Cash (299,435) 90,506 (47,839) 149,049 Cash and Cash Equivalents, including Restricted Cash, at the Beginning of the Period 1,488,412 1,205,474 1,236,816 1,146,931 Cash and Cash Equivalents, including Restricted Cash, at the End of the Period $ 1,188,977 $ 1,295,980 $ 1,188,977 $ 1,295,980 11
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Backlog (in millions): Unaudited June 26, 2026 June 27, 2025 Infrastructure & Advanced Facilities $ 28,429 $ 22,270 PA Consulting 459 420 Total $ 28,888 $ 22,690 12
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Non-GAAP Financial Measures and Operating Metrics: In this press release, the Company has included certain non-GAAP financial measures as defined in Regulation Gpromulgated under the Securities Exchange Act of 1934, as amended. These non-GAAP measures are described below. Adjusted net revenue is calculated by adjusting revenue from continuing operations to exclude amounts we bill to clients onprojects where we are procuring subcontract labor or third-party materials and equipment on behalf of the client (referred toas “pass throughs”). These amounts are considered pass throughs because we receive no or only a minimal mark-up associated with the billed amounts. We sometimes refer to our GAAP revenue as "gross revenue." Jacobs adjusted operating profit, adjusted earnings from continuing operations before taxes, adjusted income tax expenses from continuing operations, adjusted net earnings from continuing operations, adjusted EPS from continuing operations, adjusted earnings attributable to noncontrolling interests from continuing operations and adjusted interest expense from continuing operations are calculated by: 1. Excluding items collectively referred to as "Restructuring, Integration, Transaction and Other Charges," which include: a. recoveries, costs and other charges associated with (i) restructuring activities, (ii) cost reduction initiatives implemented in connection with mergers, acquisitions, strategic investments, including the PA Consulting Transaction, and divestitures, including the separation of the CMS/C&I business, such as advisor fees, involuntary terminations and related costs, costs associated with co-locating offices of acquired companies, separating physical locations of continuing operations, professional services and other personnel costs, (iii) involuntary termination programs and other related separations impacting management and employees, including related transition costs, and (iv) certain legal costs and expenses to the extent related to (i) - (iii) or determined to not be related to continuing operations (clauses (i) – (iv) collectively referred to as “Restructuring, integration, separation and other charges"); and b. transaction costs and other charges incurred in connection with mergers, acquisitions, strategic investments and divestitures, including advisor fees, change in control payments, the impact of the quarterly adjustment to the estimated performance based payout of contingent consideration to certain sellers in connection with certain acquisitions, certain consideration amounts resulting from the PA Consulting Transaction that represent compensation expense to be distributed to PA Consulting employees (including the removal of the associated tax impacts), loss on the foreign exchange forward contract in connection with the PA Consulting Transaction, amortization of the discount on the deferred consideration agreed upon as part of the PA Consulting Transaction and similar transaction costs and expenses (collectively referred to as "Transaction Costs"). 2. Excluding items collectively referred to as "Other Adjustments", which include: a. intangible assets amortization and impairment charges; b. impact of certain subsidiary level contingent equity-based agreements in connection with the transaction structure of our March 2, 2021 PA Consulting investment. Under the terms of the applicable agreements, the remaining unvested portion of the relevant grants vested upon completion of the PA Consulting Transaction on March 20, 2026, resulting in expense which is also included as an adjustment; c. certain tax adjustments resulting from activities directly related to the PA Consulting Transaction; d. revenue under the Company's transition services agreement (TSA) included in other income for U.S. GAAP reporting purposes, and any SG&A costs associated with the provision of such services; e. pretax mark-to-market and other related gains or losses associated with the Company's former investment in Amentum stock recorded in connection with the Separation Transaction; f. discounts and expenses related to the one-time exchange of the Company's former investment in Amentum shares for a portion of the Company's outstanding term loans, which term loans were canceled; g. impacts resulting from the EPS numerator adjustment relating to the redeemable noncontrolling interests preference share repurchase and reissuance activities; and h. mark-to-market gains or losses associated with investments in equity securities carried at fair value. We eliminate the impact of “Restructuring, Integration, Transaction and Other Charges” and "Other Adjustments" because wedo not consider these to be indicative of ongoing operating performance. Actions taken by the Company to enhance 13
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efficiencies are subject to significant fluctuations from period to period. The Company's management believes the exclusion of the amounts relating to the above-listed items improves the period-to-period comparability and analysis of the underlying financial performance of the business. Adjustments to derive adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated on an after-tax basis. Free cash flow (FCF) is calculated as net cash provided by operating activities from continuing operations as reported on the statement of cash flows less additions to property and equipment. Adjusted FCF is calculated as reported FCF, calculated as previously described, adjusted to exclude employee-related payments which were included as part of the initial consideration paid in connection with the PA Consulting Transaction. Adjusted FCF Margin is calculated as Adjusted FCF divided by adjusted net revenue. Adjusted EBITDA is calculated by adding income tax expense, depreciation expense and adjusted interest expense to, and deducting interest income from, adjusted net earnings attributable to Jacobs from continuing operations. I&AF Operating Margin is a ratio of I&AF operating profit for the segment to the segment's adjusted net revenue. For a reconciliation of revenue to adjusted net revenue, see "Segment Information". Jacobs Adjusted Operating Margin is a ratio of adjusted operating profit for the Company to the Company's adjusted net revenue. For a reconciliation of revenue to adjusted net revenue, see "Segment Information". We believe that the measures listed above are useful to management, investors and other users of our financial information in evaluating the Company’s operating results and understanding the Company’s operating trends by excluding or adding back the effects of the items described above and below, the inclusion or exclusion of which can obscure underlying trends. Additionally, management uses such measures in its own evaluation of the Company’s performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period. This press release also contains certain financial and operating metrics which management believes are useful in evaluating the Company's performance. Backlog represents revenue or gross profit, as applicable, we expect to realize for work to be completed by our consolidated subsidiaries and our proportionate share of work to be performed by unconsolidated joint ventures. Gross margin in backlog refers to the ratio of gross profit in backlog to gross revenue in backlog. For more information on how we determine our backlog, see our Backlog Information in our most recent annual report filed with the Securities and Exchange Commission. Adjusted EBITDA margin refers to a ratio of adjusted EBITDA to adjusted net revenue.Book-to-bill ratio is an operational measure equal to the ratio of period bookings, less cancellations, to revenue. It is calculated as change in backlog during the reporting period plus revenue for the period, divided by revenue for the same period. Adjusted net revenue book-to-bill is calculated using the same methodology; however, the ratio uses adjusted net revenue for the period, which excludes pass-through revenue, added to the change in adjusted net revenue bookings, less cancellations, divided by adjusted net revenue. These metrics provide visibility into performance on business pursuits with and without pass-through revenue, which can be volatile from period to period. We regularly monitor these operating metrics to evaluate our business, identify trends affecting our business, and make strategic decisions. The Company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the Company’s financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the Company to those used by our peer companies. The following tables reconcile non-GAAP financial measures used herein to their respective U.S. GAAP measures. For the comparable period presented below, the adjustments to derive the non-GAAP financial measures consist of amounts incurred in connection with the items described above. Amounts are shown in thousands, except for per-share data (note: earnings per share amounts may not total due to rounding). 14
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Reconciliation of Earnings from Continuing Operations Before Taxes to Adjusted Earnings from Continuing Operations Attributable to Jacobs Before Taxes (in thousands) Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Earnings from Continuing Operations BeforeTaxes $ 241,247 $ 245,104 $ 316,862 $ 354,073 Restructuring, Integration, Transactionand Other Charges (1): Transaction costs 7,143 419 151,510 (1,283) Restructuring, integration, separation andother charges 21,396 22,254 39,565 47,657 Other Adjustments (2): Transition Services Agreement, net — (5,099) (149) (10,568) Amortization of intangibles 33,452 39,245 105,511 115,946 Mark-to-market and other related (gains)losses on investment in Amentum stock — (27,372) — 227,305 Other (3) (6,210) 6,776 234,112 42,238 Adjusted Earnings from ContinuingOperations Before Taxes $ 297,028 $ 281,327 $ 847,411 $ 775,368 Adjusted Earnings Attributable toNoncontrolling Interests from ContinuingOperations 747 (16,809) (22,010) (37,343) Adj. Earnings from Continuing Operationsattributable to Jacobs before Taxes $ 297,775 $ 264,518 $ 825,401 $ 738,025 (1) Includes pre-tax charges primarily relating to the PA Consulting Transaction, mainly professional services, dedicated personnel and employee separation costs for the three and nine months ended June 26, 2026. The nine months ended June 26, 2026 include $123.9 million in compensation costs relating to the PA Consulting Transaction as well as a $20.5 million loss on the foreign exchange forward contract in connection with the PA Consulting Transaction. Includes pre-tax charges relating to the Separation Transaction (primarily employee separation costs and professional services) for the three and nine months ended June 26, 2026 and June 27, 2025, as well as charges associated with various transaction costs and activity associated with the Company's other restructuring and integration programs. (2) Includes pre-tax charges relating to amortization of intangible assets and pretax income under the Company's TSA with Amentum in connection with the Separation Transaction. The three and nine months ended June 27, 2025 also include pretax mark-to-market (gains) losses associated with our former investment in Amentum stock and other related adjustments in connection with the Separation Transaction. The nine months ended June 27, 2025 also include discounts and expenses associated with the non-cash equity for debt exchange. (3) The three and nine months ended June 26, 2026 include mark-to-market gains and losses associated with investments in equity securities carried at fair value. The three and nine months ended June 27, 2025 include the impact of certain subsidiary level compensation based agreements and the nine months ended June 26, 2026 include $215.3 million in pre-tax expense relating to the final vesting of these agreements as a result of the PA Consulting Transaction which closed on March 20, 2026. 15
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Reconciliation of Income Tax Expense from Continuing Operations to Adjusted Income Tax Expense from Continuing Operations (in thousands) Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Income Tax Expense from ContinuingOperations $ (104,635) $ (53,752) $ (132,656) $ (161,477) Tax Effects of Restructuring, Integration,Transaction and Other Charges (1): Transaction costs 5,992 (107) (25,098) 425 Restructuring, integration, separation andother charges (5,291) (7,070) (9,841) (13,469) Tax Effects of Other Adjustments (2): Transition Services Agreement, net — 1,301 39 2,695 Amortization of intangibles (8,422) (10,034) (26,697) (29,657) Other (3) 33,844 (23) (24,060) (364) Adjusted Income Tax Expense fromContinuing Operations $ (78,512) $ (69,685) $ (218,313) $ (201,847) Adjusted effective tax rate fromContinuing Operations 26.4% 24.8% 25.8% 26.0% (1) Includes tax impacts on charges primarily relating to the PA Consulting Transaction, mainly other professional services, dedicated personnel and employee separation costs for the three and nine months ended June 26, 2026. The nine months ended June 26, 2026 include compensation costs relating to the PA Consulting Transaction as well as a loss on the foreign exchange forward contract in connection with the PA Consulting Transaction. Includes income tax impacts on restructuring activities primarily relating to the Separation Transaction (primarily employee separation costs and professional services) as well as charges associated with various transaction costs and activity associated with the Company's other restructuring and integration programs for the three and nine months ended June 26, 2026 and June 27, 2025. (2) Includes income tax impacts on amortization of intangible assets and income tax impacts on income under the Company's TSA with Amentum in connection with the Separation Transaction. The nine months ended June 27, 2025 also include income tax impacts on discounts and expenses associated with the non-cash equity for debt exchange. (3) The three and nine months ended June 26, 2026 include income tax impacts on mark-to-market gains and losses associated with investments in equity securities carried at fair value. The three and nine months ended June 26, 2026 and June 27, 2025 include tax impacts on certain subsidiary level compensation based agreements. The three and nine months ended June 26, 2026 include income tax impacts on expenses associated with the final vesting of these agreements as a result of the PA Consulting Transaction which closed on March 20, 2026. 16
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Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted Net Earnings Attributable to Jacobs from Continuing Operations (in thousands) Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Net Earnings Attributable to Jacobs fromContinuing Operations $ 137,359 $ 181,234 $ 219,319 $ 175,266 After-tax effects of Restructuring, Integration,Transaction and Other Charges (1): Transaction costs 13,135 312 125,155 (963) Restructuring, integration, separation and othercharges 16,104 15,184 29,398 34,112 After-tax effects of Other Adjustments (2): Transition Services Agreement, net — (3,798) (111) (7,873) Amortization of intangibles 25,031 24,483 69,707 72,507 Mark-to-market and other related (gains) losseson investment in Amentum stock — (27,372) — 227,305 Other (3) 27,634 4,790 163,619 35,824 Adjusted Net Earnings Attributable to Jacobsfrom Continuing Operations $ 219,263 $ 194,833 $ 607,087 $ 536,178 (1) Includes after-tax charges primarily relating to the PA Consulting Transaction, mainly other professional services, dedicated personnel and employee separation costs for the three and nine months ended June 26, 2026. The nine months ended June 26, 2026 include after-tax compensation costs relating to the PA Consulting Transaction as well as an after-tax loss on the foreign exchange forward contract in connection with the PA Consulting Transaction. Includes after-tax charges on restructuring activities primarily relating to the Separation Transaction (primarily employee separation costs and professional services) as well as charges associated with various transaction costs and activity associated with the Company's other restructuring and integration programs for the three and nine months ended June 26, 2026 and June 27, 2025. (2) Includes after-tax and noncontrolling interest charges from amortization of intangible assets and after-tax income under the Company's TSA with Amentum in connection with the Separation Transaction. The three and nine months ended June 27, 2025 also include mark-to-market (gains) losses associated with our former investment in Amentum stock and other related adjustments in connection with the Separation Transaction. The nine months ended June 27, 2025 also include discounts and expenses associated with the non-cash equity for debt exchange. (3) The three and nine months ended June 26, 2026 include after-tax impacts on mark-to-market gains and losses associated with investments in equity securities carried at fair value. The nine months ended June 26, 2026 and three and nine months ended June 27, 2025 include after-tax and noncontrolling interest impacts on certain subsidiary level compensation based agreements. The nine months ended June 26, 2026 include after- tax impacts relating to the final vesting of these agreements as a result of the PA Consulting Transaction which closed on March 20, 2026. 17
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Reconciliation of Diluted Net Earnings from Continuing Operations Per Share to Adjusted Diluted Net Earnings from Continuing Operations Per Share Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Diluted Net Earnings from ContinuingOperations Per Share $ 1.16 $ 1.56 $ 1.96 $ 1.53 After-tax effects of Restructuring,Integration, Transaction and Other Charges(1): Transaction costs 0.11 — 1.06 (0.01) Restructuring, integration, separation andother charges 0.14 0.13 0.25 0.28 After-tax effects of Other Adjustments (2): Transition Services Agreement, net — (0.03) — (0.06) Amortization of intangibles 0.21 0.20 0.59 0.59 Mark-to-market and other related (gains)losses on investment in Amentum stock — (0.23) — 1.85 Other (3) 0.23 (0.01) 1.27 0.19 Adjusted Diluted Net Earnings fromContinuing Operations Per Share $ 1.84 $ 1.62 $ 5.12 $ 4.37 (1) Includes per-share impacts from charges primarily relating to the PA Consulting Transaction, mainly other professional services, dedicated personnel costs and employee separation costs for the three and nine months ended June 26, 2026. The nine months ended June 26, 2026 include per-share impacts from compensation costs relating to the PA Consulting Transaction and a loss on the foreign exchange forward contract in connection with the PA Consulting Transaction. Includes per-share impacts on restructuring activities primarily relating to the Separation Transaction (primarily employee separation costs and professional services), as well as per-share impacts associated with various transaction costs and activity associated with the Company's restructuring and integration programs for the three and nine months ended June 26, 2026 and June 27, 2025. (2) Includes per-share impacts from the amortization of intangible assets and income under the Company's TSA with Amentum in connection with the Separation Transaction. The three and nine months ended June 27, 2025 include the per-share impacts from mark-to-market (gains) losses associated with our former investment in Amentum stock and other related adjustments in connection with the Separation Transaction. The nine months ended June 27, 2025 also include per-share impacts from discounts and expenses associated with the non-cash equity for debt exchange. (3) The three and nine months ended June 26, 2026 include per-share impacts on mark-to-market gains and losses associated with investments in equity securities carried at fair value. The three and nine months ended June 27, 2025 include per-share impacts on certain subsidiary level compensation based agreements. The nine months ended June 26, 2026 include per-share impacts relating to the final vesting of these agreements as a result of the PA Consulting Transaction which closed on March 20, 2026. 18
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Reconciliation of Earnings Attributable to Noncontrolling Interests from Continuing Operations to Adjusted Earnings Attributable to Noncontrolling Interests from Continuing Operations (in thousands) Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Earnings Attributable toNoncontrolling Interests fromContinuing Operations $ 747 $ (10,118) $ 35,113 $ (17,330) Restructuring, Integration,Transaction and Other Charges(1): Transaction costs — — (1,258) (105) Restructuring, integration,separation and other charges — — (325) (76) Other Adjustments: Amortization of intangibles — (4,728) (9,107) (13,782) Other (2) — (1,963) (46,433) (6,050) Adjusted Earnings Attributable toNoncontrolling Interests fromContinuing Operations $ 747 $ (16,809) $ (22,010) $ (37,343) (1) Includes noncontrolling interests amounts primarily related to the PA Consulting Transaction for the nine months ended June 26, 2026, including compensation costs relating to the PA Consulting Transaction and other professional services and dedicated personnel costs associated with the Company's restructuring and integration programs. Includes noncontrolling interests amounts related to the loss on the foreign exchange forward contract in connection with the PA Consulting Transaction for the nine months ended June 26, 2026. The nine months ended June 26, 2026 and June 27, 2025 include noncontrolling interests amounts related to various transaction costs as well as activity associated with the Company's restructuring and integration programs. (2) The nine months ended June 26, 2026, as well as three and nine months ended June 27, 2025 include noncontrolling interests impacts from the certain subsidiary level compensation based agreements. The nine months ended June 26, 2026 also include noncontrolling interests impacts relating to the final vesting of these agreements as a result of the PA Consulting Transaction which closed on March 20, 2026. 19
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Reconciliation of Interest Expense from Continuing Operations to Adjusted Interest Expense from Continuing Operations (in thousands): Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Interest Expense from Continuing Operations$ (54,652) $ (37,051) $ (129,981) $ (110,451) Restructuring, Integration, Transaction andOther Charges (1): Transaction costs 1,049 — 1,129 — Adjusted Interest Expense from ContinuingOperations $ (53,603) $ (37,051) $ (128,852) $ (110,451) (1) Includes pre-tax charges primarily relating to the PA Consulting Transaction for the three and nine months ended June 26, 2026. 20
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Reconciliation of Net Earnings Attributable to Jacobs from Continuing Operations to Adjusted EBITDA (in thousands): Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Net Earnings Attributable to Jacobs fromContinuing Operations $ 137,359 $ 181,234 $ 219,319 $ 175,266 After-tax effects of Restructuring,Integration, Transaction and Other Charges 29,239 15,496 154,553 33,149 After-tax effects of Other Adjustments 52,665 (1,897) 233,215 327,763 Adj. Net Earnings Attributable to Jacobsfrom Continuing Operations 219,263 194,833 607,087 536,178 Adj. Income Tax Expense from ContinuingOperations 78,512 69,685 218,313 201,847 Adj. Earnings from Continuing Operationsattributable to Jacobs before Taxes 297,775 264,518 825,400 738,025 Depreciation expense 23,737 21,077 67,557 62,038 Interest income (8,306) (8,297) (25,235) (27,478) Adjusted Interest expense 53,603 37,051 128,852 110,451 Adjusted EBITDA $ 366,809 $ 314,349 $ 996,574 $ 883,036 Adjusted EBITDA Margin 15.2% 14.1% 14.2% 13.7% Certain amounts may not agree to other non-GAAP schedules due to rounding. 21
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Reconciliation of Adjusted Free Cash Flow (in thousands) Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Net cash provided by operating activities $ 456,119 $ 292,594 $ 352,758 $ 303,619 Payout of transaction proceeds inconjunction with the PA ConsultingTransaction (1) 109,899 — 342,431 — Adj. Net cash provided by operatingactivities 566,018 292,594 695,189 303,619 Additions to property and equipment (25,125) (22,052) (61,722) (49,655) Adjusted Free cash flow $ 540,893 $ 270,542 $ 633,467 $ 253,964 Net cash used for investing activities $ (25,097) $ (22,048) $ (56,854) $ (46,391) Net cash used for financing activities $ (727,174) $ (232,803) $ (335,168) $ (126,169) (1) The three months ended June 26, 2026 primarily include the cash distribution of approximately $102.0 million from specific transaction proceeds from the PA Consulting Transaction to certain eligible PA Consulting employees, which was previously held by the PA Consulting employee benefit trust and reported as restricted cash. The nine months ended June 26, 2026 also include the cash payout of a portion of transaction proceeds for the vesting of equity-based incentive awards. 22
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Earnings Per Share: Three Months Ended Nine Months Ended June 26, 2026 June 27, 2025 June 26, 2026 June 27, 2025 Numerator for Basic and Diluted EPS: Net Earnings Attributable to Jacobs from ContinuingOperations $ 137,359 $ 181,234 $ 219,319 $ 175,266 Redeemable Noncontrolling interests redemptionvalue adjustment (See Note 15- PA ConsultingRedeemable Noncontrolling Interests) — 6,605 13,480 12,417 Net Earnings from continuing operationsallocated to common stock for EPS calculation $ 137,359 $ 187,839 $ 232,799 $ 187,683 Net Loss from discontinued operations allocatedto common stock for EPS calculation $ (806) $ (1,629) $ (3,142) $ (8,180) Net Earnings allocated to common stock for EPScalculation $ 136,553 $ 186,210 $ 229,657 $ 179,503 Denominator for Basic and Diluted EPS: Shares used for calculating basic EPSattributable to common stock 117,745 120,084 117,867 122,132 Effect of dilutive securities: Stock compensation plans 1,153 407 619 450 Shares used for calculating diluted EPSattributable to common stock 118,898 120,491 118,486 122,582 Net Earnings Per Share: Basic Net Earnings from Continuing OperationsPer Share $ 1.17 $ 1.56 $ 1.98 $ 1.54 Basic Net Loss from Discontinuing OperationsPer Share $ (0.01) $ (0.01) $ (0.03) $ (0.07) Basic Earnings Per Share $ 1.16 $ 1.55 $ 1.95 $ 1.47 Diluted Net Earnings from Continuing OperationsPer Share $ 1.16 $ 1.56 $ 1.96 $ 1.53 Diluted Loss from Discontinuing Operations PerShare $ (0.01) $ (0.01) $ (0.03) $ (0.07) Diluted Earnings Per Share $ 1.15 $ 1.55 $ 1.94 $ 1.46 Note: Per share amounts may not add due to rounding. 23
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For additional information contact: Investors: Bert Subin JacobsIR@jacobs.com Media: Louise White louise.white@jacobs.com 469-724-0810 [ END ] 24