A major engineering services company has raised its financial outlook for 2026, citing booming business from the artificial intelligence industry’s infrastructure needs.
Jacobs Solutions announced Tuesday that it expects higher annual profits as companies rush to construct data centers needed to power AI technology. The Texas-based firm provides planning, engineering, and construction management for these critical facilities.
The company’s updated projections show anticipated adjusted earnings per share between $7.10 and $7.35 for 2026, with the middle estimate surpassing Wall Street analysts’ predictions of $7.16 per share based on LSEG data.
Jacobs also forecasts its adjusted net revenue will climb 8% to 10.5% in 2026.
For the quarter ending March 31, the company reported adjusted earnings of $1.75 per share, a significant jump from $1.43 per share during the same period last year. This beat analyst expectations of $1.63 per share.
Second-quarter revenue totaled $3.69 billion, substantially higher than the previous year’s $2.91 billion figure.
The company’s recently acquired UK subsidiary, PA Consulting, contributed to growth with revenue increasing 17% during the quarter.
Despite the positive financial results, Jacobs’ stock price dropped approximately 2% in after-hours trading following the announcement.
