Vancouver, British Columbia--(Newsfile Corp. - August 12, 2024) - Lotus Ventures Inc. (CSE: J) ("Lotus" or the "Company") wishes to provide an update on the transaction previously announced on May 17, 2024 (the "Transaction"). On July 29, 2024, the Company obtained a partial revocation order issued by the British Columbia Securities Commission (the "Partial Revocation Order") relating to the cease trade order issued to the Company on April 4, 2024 for failure to file certain outstanding continuous disclosur ...

Financial Data and Key Metrics Changes - Consolidated backlog increased by 6% year-over-year, indicating confidence in profitable growth as the company shifts its portfolio to higher value solutions [8][16] - Adjusted EBITDA for Q3 was $392 million, an increase of approximately 11% year-over-year, representing an adjusted EBITDA margin of 11.5% [8][17] - GAAP operating profit was $260 million for the quarter, with adjusted EPS at $1.96, marking an 11% increase compared to the previous year [17][24] Business Line Data and Key Metrics Changes - People & Places Solutions (P&PS) reported a 5% year-over-year increase in adjusted net revenue, with adjusted operating profit up 12% and an adjusted operating margin of 15.3% [9][18] - Critical Mission Solutions (CMS) experienced a 3% year-over-year revenue decrease, while backlog increased by 4% [19] - Divergent Solutions saw an 11% year-over-year dip in adjusted net revenue and a 40% decrease in adjusted operating profit due to government rate adjustments and program delays [19] Market Data and Key Metrics Changes - The company noted strong demand in critical infrastructure, particularly in water, environmental, and advanced facilities markets, which are expected to grow substantially [7][10] - The water sector's pipeline has nearly doubled compared to the previous year, with a high win rate in securing projects [42] Company Strategy and Development Direction - The company is focused on a strategic shift towards a simpler, higher value, and higher margin portfolio, with confidence in driving margin expansion [6] - The planned spin-off of the Critical Mission Solutions and Cyber & Intelligence businesses is expected to be completed in the second half of September 2024, positioning the company for higher growth and margins [6][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing demand for science-based, digitally-enabled solutions and the ability to capitalize on momentum in critical infrastructure markets [26] - The company anticipates a strong Q4 performance leading into fiscal year 2025, supported by a robust backlog and pipeline [27][34] Other Important Information - The company generated strong operating cash flow of $483 million and free cash flow of $445 million in Q3, with expectations of exceeding 100% free cash flow conversion for fiscal year 2024 [8][21] - The company has $528 million remaining under its current share repurchase authorization, reflecting a commitment to returning capital to shareholders [22] Q&A Session Summary Question: Improvement in gross margins in P&PS backlog - Management noted that gross profit and backlog are positively affected by a shift towards higher-end science-based consulting and advisory services, particularly in water and advanced facilities [27] Question: Guidance towards the lower end of annual EBITDA range - Management indicated that weaker performance in certain segments, such as CMS and delays in Divergent Solutions, contributed to the guidance adjustment [30] Question: Visibility towards core infrastructure growth in 2025 - Management expressed confidence in strong visibility for growth in water and advanced facilities, with positive tailwinds expected from recent developments in the UK and Saudi Arabia [33][40] Question: Top line growth rate of P&PS business - Management confirmed that strong bookings and backlog performance provide confidence for solid growth projections entering 2025 [67]

Jacobs Solutions Inc. (J) reported mixed results for third-quarter fiscal 2024 (ended Jun 28, 2024). Earnings surpassed the Zacks Consensus Estimate, but revenues lagged the same. Nonetheless, both earnings and revenues increased on a year-over-year basis. The quarterly performance is mainly driven by portfolio optimization, focusing on high-growth sectors that emphasize sustainability and infrastructure resilience. This reflects the company's broad-based strength in global infrastructure and sustainability ...

Reports Strong Consolidated Q3 Margins People & Places Solutions (P&PS) Record Backlog1 Grows by Double Digits with Book-to-Bill Ratio 1.53x Delivered Strong P&PS and PA Consulting Operating Margin Performance Robust Cash Flow Performance; Executed $151M of Share Buybacks During Quarter DALLAS, Aug. 6, 2024 /PRNewswire/ -- Jacobs Solutions Inc. (NYSE: J) today announced its financial results for the fiscal third quarter ended June 28, 2024. Q3 2024 Highlights: Cash flow from operations of $483 million; expe ...

Core Insights - The article discusses Jacobs being selected as the Program Manager for the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), a public-private partnership aimed at establishing a clean hydrogen hub in California, supported by funding from the U.S. Department of Energy [1][5]. Group 1: Project Overview - ARCHES is part of a national initiative to promote clean hydrogen production and distribution, with Jacobs leading the program management efforts to ensure effective delivery and integration of project activities [2][3]. - The project is set to commence in the second half of 2024 and aims to create a sustainable hydrogen market in California [2]. Group 2: Environmental and Economic Impact - By 2032, the hydrogen hub is expected to generate 190,000 metric tons of hydrogen annually, leading to a reduction of 2.5 million metric tons of greenhouse gas emissions each year [4]. - The anticipated community benefits include $2.95 billion in annual healthcare cost savings and the creation of over 220,000 new green jobs [4]. Group 3: Funding and Financial Aspects - The project is part of the DOE's Regional Clean Hydrogen Hubs program, which allocated $7 billion for seven regional hubs, with ARCHES receiving approximately $1.2 billion of this funding, contributing to an overall project value of nearly $13 billion [5]. Group 4: Jacobs' Experience and Recognition - Jacobs has a strong track record in managing significant infrastructure projects in California and has been recognized as the top program management firm by Engineering News-Record for four consecutive years [6]. - The company has a diverse portfolio, generating approximately $16 billion in annual revenue and employing over 60,000 professionals [7].

Analysts on Wall Street project that Jacobs Solutions (J) will announce quarterly earnings of $1.95 per share in its forthcoming report, representing an increase of 7.1% year over year. Revenues are projected to reach $4.38 billion, increasing 4.7% from the same quarter last year. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this per ...

Core Insights - Jacobs has been contracted by Onondaga County, New York, to provide program management services for the county's combined sewer overflow (CSO) abatement and capacity management programs, extending its long-term role in improving sewer system performance [2][3] - The new five-year contract includes finalizing the county's Long-Term Control Plan for CSO abatement and developing a capacity management program to enhance operational performance of the sanitary wastewater collection system [4][9] - Jacobs has a strong track record in program management, having overseen over 200 green stormwater infrastructure projects and wastewater collection system improvements since 2008, significantly reducing CSOs in Syracuse [3][5] Company Overview - Jacobs generates approximately $16 billion in annual revenue and employs over 60,000 professionals, offering a full spectrum of consulting, technical, scientific, and project delivery services [1] - The company is recognized as No.1 in Program Management by Engineering News-Record, supporting major infrastructure projects globally [5] Project Details - The new contract will involve system capacity modeling and evaluation surveys to identify and address capacity constraints and sewer defects, utilizing Jacobs' Digital OneWater solutions [4] - Jacobs has been instrumental in Onondaga County's CSO reduction efforts for over 15 years, contributing to the county's recognition as a global model for successful CSO abatement [9]

Company Overview - Jacobs has approximately $16 billion in annual revenue and a workforce of over 60,000, providing a full spectrum of professional services including consulting, technical, scientific, and project delivery for both government and private sectors [1] Contract Award - Jacobs was awarded the FBI's ITSSS-2 Blanket Purchase Agreement, which has a total ceiling contract value of $8 billion and will provide essential IT services over the next eight years [2][4] - The ITSSS-2 contract will deliver IT solutions in seven key areas: workplace services, business applications, delivery services, platform services, infrastructure services, emerging technologies, and other IT services [2] Collaboration with FBI - The contract highlights Jacobs' nearly two-decade-long collaboration with the FBI, reinforcing its position as a reliable provider of innovative IT solutions [4] - Jacobs aims to enhance the FBI's capabilities by leveraging advanced technologies to address complex challenges [5]

Brings further strategic growth and operational efficiency business intelligence DALLAS, July 18, 2024 /PRNewswire/ -- Jacobs (NYSE:J) announced today the election of Mary Jackson to its Board of Directors, effective upon the closing of the previously announced separation of Jacobs' Critical Mission Solutions and portions of its Divergent Solutions business, or, if earlier, January 15, 2025. A 32-year veteran of the United States Navy with extensive experience as an advisor across numerous boards while in t ...

DALLAS, July 16, 2024 /PRNewswire/ -- Jacobs (NYSE: J) has announced that a Form 10 has been publicly filed with the U.S. Securities and Exchange Commission ("SEC") for the previously announced planned spinoff of its Critical Mission Solutions and portions of its Divergent Solutions business, including the Cyber & Intelligence business. Filed under Amazon Holdco Inc., the Form 10 describes the spin-off and merger with Amentum Parent Holdings LLC ("Amentum"), to create a leading, publicly traded global engin ...