May 6 (Reuters) - Engineering services provider Jacobs
Solutions ( J ) on Tuesday beat Wall Street estimates for
second-quarter profit and revenue, led by higher sales in its
larger Infrastructure & Advanced Facilities segment.
The segment, which caters to the utilities, infrastructure
and biopharmaceutical end markets, benefited from strong demand
from clients in the life sciences, transportation and energy
sectors.
The company's total revenue rose 2.2% to $2.91 billion in
the reported quarter from a year ago, compared with analysts'
average estimate of $2.18 billion, according to data compiled by
LSEG.
Adjusted profit came in at $1.43 per share in the quarter
ended March 28, beating estimates of $1.39.
Jacobs is involved in offering a wide array of technical,
professional and construction services to clients in the
industrial, commercial and governmental sectors.
The company stands to benefit from the push for reshoring
manufacturing and business in the U.S. under the Trump
administration, as companies look to shift global supply chains
in response to ongoing tariff pressures.
It posted a 20% year-over-year rise in second quarter
backlogs and a book-to-bill ratio of 1.1x which suggests higher
demand as more bookings were received than billed.
"As we look ahead to the second half of the fiscal year, we
continue to see tailwinds in both segments from robust bookings
as well as a healthy pipeline of opportunities across our end
markets," said CEO Bob Pragada.
Jacobs maintains its annual adjusted net revenue forecast to
grow mid-to-high single digits over fiscal 2024, and adjusted
profit to range from $5.85 to $6.20 per share.