Operator

Greetings, and welcome to Jacobs Fiscal Second Quarter 2026 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to Bert Subin Senior Vice President, Investor Relations. Thank you. You may begin.

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Robert Pragada
CEO & Chair of the Board

Solid year-on-year margin expansion and continued robust sales activity. I'll quickly highlight a few key takeaways. First, adjusted EPS grew 22% to $1.75, supported by 9% organic net revenue growth, outpacing the 8% growth rate in Q1 and 70 basis points of year-on-year margin expansion. Second, our backlog grew 22% to $27 billion, setting another new record with a trailing 12-month book-to-bill of 1.4x on gross revenue and 1.2x on net revenue.

And third, we completed the acquisition of PA Consulting, which we celebrated together by ringing the closing bell at the New York Stock Exchange in March. In summary, we are exiting Q2 with significant momentum and the strong first half of the year gives us confidence to increase our FY '26 outlook for the second time in 2 quarters, which Venk