Jacobs Solutions Exceeds Q1 Earnings Estimates Driven by I&AF Segment
Jacobs Solutions, an engineering services provider, reported strong first-quarter results exceeding analyst expectations. The company's Infrastructure & Advanced Facilities (I&AF) segment experienced robust demand, particularly in life sciences and water infrastructure, contributing to higher revenue.
I&AF Segment Drives Growth
The restructured I&AF segment provides advisory and technical services across industries. It saw a 5% increase in revenue compared to the same period last year. The segment's growth is attributed to increased GLP-1 investments in life sciences and strong demand from water infrastructure clients.
Quarterly Financials
Jacobs generated an adjusted quarterly profit of $1.33 per share, surpassing the consensus analyst estimate of $1.27. Total revenue climbed 4.4% to $2.93 billion, exceeding the expected $2.07 billion.
Share Buyback Program
Additionally, the company announced a 2025 share buyback program to repurchase $1.5 billion in shares annually through 2028.
Outlook
Jacobs adjusted its full-year adjusted profit forecast, raising the lower limit to a range of $5.85-$6.20 per share, up from $5.80 in its previous guidance.
Market Performance
Jacobs shares experienced a nearly 2% increase in pre-market trading.