Jacobs Buys Analytics Firm StreetLight for Unknown Sum
The latest financial results reported by publicly traded engineering and construction companies.
Dallas-based Jacobs said Feb. 7 it acquired StreetLight Data, a San Francisco mobility analytics firm that its new parent says specializes in planning electric vehicle networks, traffic pattern improvements and equitable transportation access.
StreetLight has worked for Transport Canada, state and city DOTs and consultants such as Stantec and AECOM, says its website.
Jacobs has “global scale to rapidly accelerate client decision-making at a pivotal time for infrastructure investment,” said StreetLight CEO Laura Schewel, a former EV policymaker at the Federal Energy Regulatory Commission. Jacobs did not disclose the purchase price.
The firm also announced first-quarter 2022 results on Feb. 8, reporting revenue of $3.38 billion and $1.56 adjusted earnings per share for the quarter ending Dec. 31, both missing Wall Street analysts’ estimates. Backlog rose 12% year-over-year to $28 billion.
Jamie Cook, construction sector analyst for Credit Suisse, said in a research note that Jacobs "continues to invest to capitalize on long-term secular growth tailwinds associated with infrastructure modernization, climate response and digitization," and expects infrastructure spending law benefit by the second half of 2022. The firm "is focusing the portfolio in the right areas; however, growth is taking longer to achieve," she said.
Jacobs "further announced and reiterated" adjusted earnings per share of about $10.00 by fiscal 2025, "executing work from its "robust sales pipeline" and continued growth in consulting.
Jacobs also said it expects to share with investors a new three year corporate strategy on March 4.
Looking for quick answers on construction and engineering topics?
Try Ask ENR, our new smart AI search tool.
Ask ENR →
