140.74
0.62%
0.90
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Why is Jacobs Solutions Inc (J) Stock down?
We've noticed a 15.84% decline in Jacobs Solutions Inc (J) stock during the 2024-09-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
21 Nov, 2023:
Jacobs Solutions Inc Stock (J) dropped by 8.69% from $136.98 to $125.08 in the trading on Tuesday November 21, 2023. The reasons why J stock down today include:
- Mixed fiscal fourth-quarter results: Jacobs' quarterly revenue grew 10.5% Y/Y to $4.29 billion, while adjusted earnings from continuing operations increased 5.6% to $1.90 per share. Most analysts were expecting higher earnings of $2.02 per share, but on lower revenue of $4.21 billion.
- Spinoff: Jacobs Solutions is spinning off its Critical Missions Solutions segment and Cyber & Intelligence business to merge with Amentum, creating a new publicly traded company focused on the government services sector. The separation is expected to close in the second half of fiscal year 2024. Jacobs and its shareholders will own up to 63% of the combined company's common shares. The market has reacted negatively to the news, with Jacobs Solutions' stock declining today.
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