NewsNovo
Jacobs Solutions (NYSE: J) closed its fiscal third quarter with a record $28.9 billion backlog, gross revenue up 34.5% year over year to $4.1 billion, and a third consecutive full-year guidance raise.
Those numbers read as confirmation that the company is capturing share across infrastructure and technology. What complicates that read is where the growth is actually landing.
The backlog grew 27.3% from a year earlier, and the trailing twelve-month book-to-bill ratio landed at 1.4x, meaning Jacobs is winning more work than it ships.
CEO Bob Pragada attributed the strength to broad demand across data centers, semiconductors, energy and power, transportation, and water within the Infrastructure & Advanced Facilities segment, where gross revenue climbed 39% year over year and adjusted net revenue grew 10% organically.
Keep reading