AI English summary of an SEC filing — figures as filed
Jacobs Solutions JJacobs said its fiscal 2024 revenue for Q1 was $4.16 billion, up $0.36 billion, or 9.5%, from $3.80 billion in the same period last year. Gross profit rose 4.4% to $850.5 million, and gross profit margin was 20.4%, compared with 21.4% a year earlier.
Key points
AI summaryJacobs said its fiscal 2024 revenue for Q1 was $4.16 billion, up $0.36 billion, or 9.5%, from $3.80 billion in the same period last year. Gross profit rose 4.4% to $850.5 million, and gross profit margin was 20.4%, compared with 21.4% a year earlier.
Jacobs said its effective tax rate from continuing operations was (9.8)%, compared with 25.4% a year earlier. The company explained that it elected to treat an Australian subsidiary as a corporation for U.S. tax purposes, which eliminated a deferred tax liability and produced a one-time income tax benefit of $61.6 million.
Jacobs said restructuring and other charges for the quarter of $40.1 million were mainly related to the Separation Transaction. The company expects to receive up to 63% of the stake and $1 billion in cash at closing, and said it plans to use the cash to repay debt.
Jacobs said net cash provided by operating activities for the 3 months ended December 29, 2023 was $418.4 million, compared with $302.3 million a year earlier, an increase of $116.1 million. The company cited improvements in working capital as the main driver, and said lower earnings after adjusting for non-cash items partly offset this.
Key figures
Quarter ended December 29, 2023
- Revenue
- $4.2B
- Operating income
- $204M
- Net income
- $172M
- EPS
- $1.37
- Gross profit
- $851M
- Operating cash flow
- $418M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Jacobs Fiscal 2024 Q1 Revenue $4.16 billion
Jacobs said its fiscal 2024 revenue for Q1 was $4.16 billion, up $0.36 billion, or 9.5%, from $3.80 billion in the same period last year. Gross profit rose 4.4% to $850.5 million, and gross profit margin was 20.4%, compared with 21.4% a year earlier.
Source · Based on the MD&A text of the filing
Effective Tax Rate of (9.8)% and $61.6 million Deferred Tax Effect
Jacobs said its effective tax rate from continuing operations was (9.8)%, compared with 25.4% a year earlier. The company explained that it elected to treat an Australian subsidiary as a corporation for U.S. tax purposes, which eliminated a deferred tax liability and produced a one-time income tax benefit of $61.6 million.
Source · Based on the MD&A text of the filing
Separation Transaction Costs and Terms
Jacobs said restructuring and other charges for the quarter of $40.1 million were mainly related to the Separation Transaction. The company expects to receive up to 63% of the stake and $1 billion in cash at closing, and said it plans to use the cash to repay debt.
Source · Based on the MD&A text of the filing
Operating Cash Flow $418.4 million
Jacobs said net cash provided by operating activities for the 3 months ended December 29, 2023 was $418.4 million, compared with $302.3 million a year earlier, an increase of $116.1 million. The company cited improvements in working capital as the main driver, and said lower earnings after adjusting for non-cash items partly offset this.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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