This article is from SRN News
(Reuters) – Engineering services provider Jacobs Solutions on Tuesday topped estimates for first-quarter profit on higher revenue from its water and life sciences businesses within its Infrastructure & Advanced Facilities (I&AF) segment.
The company’s newly restructured I&AF segment, which provides advisory and technical services to various industries, has been benefiting from robust demand from life sciences clients boosted by GLP-1 investments, as well as, from water infrastructure clients.
The segment’s revenue rose nearly 5% in the quarter from a year earlier.
Jacobs offers a wide array of technical, professional and construction services to clients in the industrial, commercial and governmental sectors.
The Dallas, Texas-based company posted a quarterly adjusted profit of $1.33 per share, compared with analysts’ average estimate of $1.27, according to data compiled by LSEG.
The company’s total revenue climbed 4.4% to $2.93 billion, compared with analysts’ average estimate of $2.07 billion.
Jacobs also announced a 2025 share buyback program on Tuesday to repurchase $1.5 billion in shares annually through 2028.
The company raised the lower limit of its full-year adjusted profit forecast to a range of $5.85-$6.20 per share from its earlier forecast of $5.80-$6.20.
Shares of the company were up nearly 2% before the bell.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Vijay Kishore)
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