The John Wood Group has disclosed that its revenue and earnings have increased in line with expectations, as all business units experienced growth. The consulting and engineering company has also reconfirmed its full-year outlook.
For the third quarter, the company reported an 8% rise in revenue, which equates to a 10% increase on a constant-currency basis, amounting to $1.48 billion. The cumulative revenue for the first nine months of the year shows a 13% rise, or 15% on a constant-currency basis, reaching $4.46 billion. These figures align with the estimated full-year revenue of around $6.0 billion.
While no specific details were given, adjusted earnings before interest, taxes, depreciation, and amortization for both the third quarter and the year-to-date met expectations.
As of September 30th, the order book stood at approximately $5.9 billion, maintaining the same level as the previous year and slightly lower than June's $6.0 billion. These figures support the company's outlook for the year 2024.
John Wood Group has not made any changes to its full-year expectations and anticipates that adjusted EBITDA will be within the medium-term target of mid- to high-single-digit growth.
Current shares, as of 0821 GMT, have declined by 2.4 pence, or 1.6%, to 150.3 pence.
