Jacobs Solutions (J) Q2 FY2026 earnings: revenue $3.7 billion, up 27.0% on the year

Jacobs Solutions Inc. (J) reported revenue of $3.7 billion for Q2 FY2026, the quarter ended 27 March 2026, up 27.0% on the same quarter a year earlier. Net income was -$46 million, and diluted earnings per share $-0.34. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.

Revenue

$3.7 billion

+27.0% on the year · +12.2% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

-2.2%

7.2% a year earlier

Q3 FY2024Q2 FY2026

Net income

-$46 million

Q3 FY2024Q2 FY2026

Diluted EPS

-$0.34

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 1 narrowed, 1 kept.

Gross revenue rose 27% year on year: Gross revenue was $3.69 billion, up 27.0% from the prior-year quarter. Adjusted net revenue, which excludes pass-through amounts, was $2.33 billion, up 8.8%.
GAAP loss tied to PA transaction: GAAP results from continuing operations were a loss of $43.0 million, or $0.32 per diluted share, against net earnings of $11.2 million a year earlier. The company cited the PA acquisition transaction.
Adjusted EPS rose 22.4%: Adjusted EPS from continuing operations was $1.75, up 22.4% from $1.43 in the prior-year quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	3,695	3,293	2,910	+12.2%	+27.0%
Cost of revenue	2,900	2,528	2,172	+14.7%	+33.5%
Gross profit	795	765	738	+3.9%	+7.7%
Gross margin	21.5%	23.2%	25.4%
Selling, general and administrative	876	533	530	+64.5%	+65.4%
Operating income	-81.2	233	209
Operating margin	-2.2%	7.1%	7.2%
Interest expense	41.1	34.3	38.6	+19.9%	+6.5%
Pre-tax income	-131	206	55.8
Income tax	-45.1	73.1	50.6
Effective tax rate	n/a	35.5%	90.6%
Net income	-45.9	126	5.6
Net margin	-1.2%	3.8%	0.2%
Diluted EPS	-$0.34	$1.12	$0.06

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	-484	381	-96.4
Capital expenditure	20.8	15.8	17.3	+31.3%	+20.3%
Free cash flow	-505	365	-114
Free cash flow margin	-13.7%	11.1%	-3.9%
Cash from investing	-16.3	-15.5	-16.4
Cash from financing	452	-59.8	-5.5
Depreciation and amortisation	22.2	21.6	20.0	+2.7%	+10.8%
Share-based compensation	21.1	17.3	8.0	+22.0%	+163.7%
Buybacks	220	252	351	-12.8%	-37.3%
Dividends paid	42.6	38.6	39.4	+10.6%	+8.2%
Dividend per share	$0.36	$0.32	$0.32	+12.5%	+12.5%
Diluted shares, weighted	117m	119m	123m	-1.5%	-4.4%
Shares outstanding at period end	118m	118m	120m	+0.5%	-1.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	3,293	3,444	3,864	-4.4%	-14.8%
Non-controlling interest	-8.4	4.3	8.7
Redeemable equity	0.0	1,093	822
Debt	4,084	2,486	2,634	+64.3%	+55.1%
Operating lease liabilities	353	362	372	-2.3%	-4.9%
Other liabilities	4,220	4,225	3,511	-0.1%	+20.2%
Total liabilities and equity	11,942	11,614	11,211	+2.8%	+6.5%
Fixed assets	303	307	294	-1.3%	+3.2%
Goodwill	4,763	4,794	4,727	-0.6%	+0.8%
Intangible assets	640	684	775	-6.4%	-17.4%
Cash and equivalents	1,372	1,553	1,205	-11.7%	+13.9%
Receivables	3,556	3,060	2,895	+16.2%	+22.8%
Other assets	1,308	1,217	1,315	+7.4%	-0.6%
Total assets	11,942	11,614	11,211	+2.8%	+6.5%

Questions

What was Jacobs Solutions' revenue in Q2 FY2026?

Jacobs Solutions (J) reported revenue of $3.7 billion for Q2 FY2026, the quarter ended 27 March 2026, up 27.0% on the same quarter a year earlier.

How much did Jacobs Solutions earn in Q2 FY2026?

Net loss for Q2 FY2026 was $46 million, and the diluted loss per share $0.34.

When did Jacobs Solutions report Q2 FY2026 results?

Jacobs Solutions filed its 10-Q for the quarter ended 27 March 2026 with the SEC on 5 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,586	3,381	3,834	3,827	3,881	2,549	2,677	2,792	2,834	2,810	2,847	2,883	2,960	2,933	2,910	3,032	3,155	3,293	3,695	4,076
Cost of revenue	2,759	2,584	2,964	3,003	3,045	2,984	3,188	3,330	3,377	2,145	2,135	2,162	2,225	2,212	2,172	2,273	2,388	2,528	2,900	3,266
Gross profit	828	796	870	824	836	815	890	857	912	665	712	721	735	721	738	758	767	765	795	811
Gross margin	23%	24%	23%	22%	22%	32%	33%	31%	32%	24%	25%	25%	25%	25%	25%	25%	24%	23%	22%	20%
SG&A	576	619	704	559	527	577	600	587	634	523	529	550	539	513	530	523	555	533	876	524
Operating income	252	177	166	266	309	155	186	168	168	142	183	171	196	208	209	235	212	233	-81.2	287
Operating margin	7%	5%	4%	7%	8%	6%	7%	6%	6%	5%	6%	6%	7%	7%	7%	8%	7%	7%	-2%	7%
Interest expense	19.9	19.4	22.0	26.1	32.7	40.1	40.6	43.8	43.6	43.4	44.2	45.8	35.7	34.8	38.6	37.1	35.3	34.3	41.1	54.7
Pre-tax income	170	169	155	272	280	115	149	125	132	103	144	136	394	53.1	55.8	245	189	206	-131	241
Tax rate	n/a	9%	30%	22%	14%	44%	13%	43%	55%	-31%	30%	33%	19%	108%	91%	22%	29%	35%	n/a	43%
Net income	43.1	134	88.8	196	225	136	217	164	149	172	162	147	325	-18.1	5.6	180	122	126	-45.9	137
Net margin	1%	4%	2%	5%	6%	5%	8%	6%	5%	6%	6%	5%	11%	-1%	0%	6%	4%	4%	-1%	3%
Diluted EPS	$0.33	$1.03	$0.68	$1.52	$1.75	$1.06	$1.70	$1.29	$1.24	$1.37	$1.28	$1.17	$2.51	-$0.11	$0.06	$1.55	$0.92	$1.12	-$0.34	$1.15
Operating cash flow	203	322	125	-249	278	302	132	321	219	418	-42.8	483	197	107	-96.4	293	383	381	-484	456
Capital expenditure	27.1	19.3	28.9	31.8	47.6	32.2	35.2	30.9	39.2	17.3	27.8	37.7	38.3	10.3	17.3	22.1	29.6	15.8	20.8	25.1
Free cash flow	176	302	95.7	-281	230	270	96.8	290	180	401	-70.6	445	158	97.1	-114	271	354	365	-505	431
Buybacks	250	0.0	50.0	201	31.2	141	0.0	125	0.1	100	95.4	151	56.3	202	351	101	101	252	220	142
Dividends paid	27.4	27.5	29.7	29.3	29.4	29.8	33.0	32.9	32.7	33.4	36.8	36.3	36.3	36.5	39.4	38.9	38.2	38.6	42.6	42.2
Shares outstanding	129m	129m	129m	128m	127m	127m	127m	126m	126m	126m	125m	124m	124m	123m	120m	120m	119m	118m	118m	117m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 27 March 2026, filed 5 May 2026: the filing.