Jacobs Solutions rises after Q3 revenue beat

Jacobs Solutions

06/08/2024 15:56

** Engineering consulting firm Jacobs Solutions' shares
 J.N  rise 1.7% to $142.49 
    ** Company beat Q3 revenue estimates, helped by sustained
demand in its People & Places Solutions (P&PS) segment, which
provides infrastructure related services
    ** "This period saw a continuation of a mix shift to higher
margin, science-based consulting and advisory services that
offer significantly higher returns contributing to an overall
margin expansion, notably led by P&PS" - CEO Robert Pragada
    ** Q3 revenue of $4.23 bln exceeded analysts' estimate of
$3.99 bln - LSEG data
    ** Q3 adjusted profit rose 11% yoy to $1.96 per share, in
line with analysts' estimates
    ** Co also narrowed FY 2024 adjusted earnings forecast to
between $7.85 and $8.05 per share, compared with earlier range
of $7.80 to $8.10 per share
    ** Stock had risen 9.7% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))