May 5 – Engineering services provider Jacobs Solutions on Tuesday lifted its forecast for annual profit, banking on strong demand for its data center infrastructure services.
The rush to build data centers to run artificial intelligence technologies is benefiting firms such as Jacobs that provide planning, engineering and construction-management services.
• The Dallas, Texas-based company now expects 2026 adjusted per share profit between $7.10 and $7.35, the midpoint of which is above analysts’ estimates of $7.16 per share, according to data compiled by LSEG.
• The company forecast 2026 adjusted net revenue to grow 8% to 10.5%
• Jacobs’ adjusted profit rose to $1.75 per share in the quarter ended March 31, up from $1.43 per share a year ago. Analysts expected a profit of $1.63 per share.
• The company reported second-quarter revenue of $3.69 billion, compared with $2.91 billion a year earlier.
• Revenue of newly acquired UK-based firm, PA Consulting, rose 17% in the quarter.
• Shares of the company, however, were down about 2% in after-hours trading.
(Reporting by Jahanvi Kothari and Parth Chandna in Bengaluru; Editing by Sahal Muhammed)
