Jacobs Engineering Group Inc. Q3 2026 Earnings Recap

Jacobs delivered results that beat expectations, as evidenced by a +4.3% stock reaction, driven by strong revenue growth, record backlog expansion, and continued margin improvement.

Key Takeaways

• Adjusted EPS rose 14% year-over-year to $1.84, supported by more than 8% organic adjusted net revenue growth.
• Segment I&AF posted $2.1 billion in net revenue, marking a 10% increase and a quarterly record.
• Adjusted EBITDA margin expanded by over 100 basis points year-over-year to 15.2%.
• Backlog increased 27% to a record $29 billion, with a trailing 12-month book-to-bill ratio of 1.4x, signaling strong future revenue visibility.
• The company raised full-year 2026 guidance for the third consecutive time, reflecting confidence in ongoing business momentum, including a growing AI infrastructure pipeline now representing 11% of adjusted net revenue.