Global professional services company Jacobs Solutions (NYSE: J) will be announcing earnings results this Tuesday afternoon. Here’s what investors should know.
Jacobs Solutions beat analysts’ revenue expectations last quarter, reporting revenues of $2.33 billion, up 8.8% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Jacobs Solutions a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Jacobs Solutions’s revenue to grow 7.8% year on year, in line with the 7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Jacobs Solutions has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Jacobs Solutions’s peers in the professional services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Booz Allen Hamilton’s revenues decreased 4.2% year on year, missing analysts’ expectations by 0.5%, and Ryan Specialty reported revenues up 7.2%, topping estimates by 5.3%. Booz Allen Hamilton traded up 8.8% following the results while Ryan Specialty’s stock price was unchanged.
Read our full analysis of Booz Allen Hamilton’s results here and Ryan Specialty’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 2.6% on average over the last month. Jacobs Solutions is up 5.3% during the same time and is heading into earnings with an average analyst price target of $156.53 (compared to the current share price of $136.36).
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