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On February 4th, Engineering services provider Jacobs Solutions exceeded first-quarter profit expectations, driven by increased revenue from its water and life sciences businesses within the Infrastructure & Advanced Facilities (I&AF) segment.

The company's restructured I&AF segment, serving various industries with advisory and technical services, has experienced strong demand from life sciences clients due to GLP-1 investments, as well as from water infrastructure clients.

During the quarter, the segment's revenue grew by nearly 5% compared to the same period a year ago.

Jacobs offers a comprehensive range of technical, professional, and construction services to clients across the industrial, commercial, and governmental sectors.

Based in Dallas, Texas, the company reported a quarterly adjusted profit of $1.33 per share, beating analysts' average estimate of $1.27 per share, as compiled by LSEG.

Total revenue for Jacobs increased by 4.4% to $2.93 billion, surpassing analysts' average forecast of $2.07 billion.

In addition, Jacobs unveiled a share repurchase program aiming to buy back $1.5 billion in shares annually until 2028.

The company also revised its full-year adjusted profit forecast, adjusting the lower end of the range to $5.85-$6.20 per share from the initial forecast of $5.80-$6.20.

Before the market opened, the company's shares were up nearly 2%.