Jacobs Solutions Inc. · J · Next earnings

Jacobs Solutions Inc. reports Thursday, Nov 19, 2026

J reports session not yet known with consensus EPS at $2.17 and revenue at $2.56B. Last quarter: Jacobs Solutions Q2 FY2026: Beat and Raise, Stock Sells Off on Leverage Concerns

Reports Session not yet known60 days awayDate unknown Industrials

What the street expects

Consensus for the coming report
Consensus EPS $2.17 Calendar consensus
Consensus revenue $2.56B Calendar consensus
Report date Nov 19, 2026 Thursday, date unknown
Session Session not yet known 60 days away

Where J left off: FY2026 Q2

Full report

Jacobs Solutions Q2 FY2026: Beat and Raise, Stock Sells Off on Leverage Concerns

EPS surprise +7.4% Reported $1.75 vs $1.63
Revenue surprise +2.2% Reported $2.33B vs $2.28B
Stock move -7.3% Event window
Subsequent drift -2.4% Up to 20 sessions

Raised for the second consecutive quarter. Adjusted net revenue growth guidance lifted from 6.5-10% to 8-10.5%; adjusted EPS from $6.95-$7.30 to $7.10-$7.35. EBITDA margin targeted at approximately 15% in Q3 and above 16% in Q4 FY2026. Management plans to reduce net leverage below 2.0x by fiscal year-end while maintaining an aggressive share repurchase program.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Net leverage at 2.1x, above the 1.0-1.5x target range
  • Wide GAAP vs adjusted EPS spread from acquisition accounting
  • Dependence on sustained AI and data-center demand for growth
  • Potential regulatory delays from IIJA 2.0 and water-quality regulations
  • Geopolitical and operational risks in Middle East projects

Questions analysts left open

  • Attribution of the guidance raise between PA integration and organic performance
  • Timing and magnitude of AI-related margin upside
  • Visibility horizon for data-center and AI pipeline projects
  • Capital allocation trade-off between share repurchases and deleveraging
  • Impact of transaction-related cash-flow exclusions on reported free cash flow

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Recent J quarters

All J earnings
-7.3%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.