Jacobs Q3 FY2026: revenue jumps 34.5%, adjusted EPS just misses
Jacobs grew gross revenue 34.5% to $4.08 billion in its fiscal 2026 third quarter, yet adjusted EPS of $1.84 landed just below the $1.8684 consensus and gross margin fell to 19.9% from 25.0%. Read the headline growth with care: much of it is pass-through work billed to clients, and adjusted net revenue — the number management guides on — rose 8.3%. Cash generation and backlog were the clean wins.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.15 versus $1.56 a year earlier, hit by a GAAP effective tax rate of 43.4% against 21.9%, which management ties to the PA acquisition transaction. Adjusted EPS was $1.84, up 13.6% y/y but below the $1.8684 consensus estimate. The $0.69 gap between the two EPS figures is mostly intangible amortization and PA-related transaction compensation.
Gross revenue rose 34.5% to $4.08 billion, but $1.66 billion of that was pass-through work Jacobs bills to clients on their behalf. Adjusted net revenue, which strips that out, grew 8.3% to $2.42 billion. Infrastructure & Advanced Facilities supplied $3.75 billion of the total and PA Consulting $0.33 billion, and gross margin fell to 19.9% from 25.0% because pass-throughs carry almost no mark-up.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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