Aug 5 (Reuters) - Engineering services firm Jacobs
Solutions ( J ) beat Wall Street estimates for third-quarter
profit and revenue on Tuesday, boosted by steady demand in its
Infrastructure and Advanced Facilities (I&AF) as well as PA
Consulting segments.
Sustained demand for its professional services shielded the
Dallas, Texas-based company from macroeconomic uncertainty amid
an inflationary market and the ongoing global tariff war.
"This strong performance was fueled by higher revenue growth
rates in both segments as well as disciplined cost control," CFO
Venk Nathamuni said.
"We saw continued momentum in PA Consulting's business, with
revenue increasing 15% year-on-year in the third quarter as a
result of both higher public and private sector spending," CEO
Bob Pragada said.
The larger I&AF segment, which focuses on the engineering,
design and delivery of infrastructure projects, posted a 4% rise
in revenue from a year ago, driven by demand from life sciences,
data center, utilities and transportation end markets.
The company also narrowed its annual profit forecast to
range between $6.00 and 6.10 per share, compared with its prior
view of $5.85 to $6.20 per share.
Jacobs reported adjusted profit of $1.62 per share in the
third quarter, above analysts' average estimate of $1.55,
according to data compiled by LSEG.
Revenue for the quarter ended June 27 rose 5% to $3.03
billion, compared with estimates of $2.23 billion.