AECOM vs. Jacobs: Which Infrastructure Stock Has More Upside?
Both AECOM and Jacobs Solutions are positioned to benefit from accelerating infrastructure investment across transportation, water, energy, and defense. However, Jacobs demonstrates stronger near-term momentum with 27.3% backlog growth, robust AI-related infrastructure demand (11% of revenues), and three consecutive quarters of raised guidance. AECOM faces near-term headwinds from a $337 million construction management project charge and delayed project starts, though it maintains long-term margin expansion potential. Jacobs is rated as the better opportunity currently.