Sahej Singh: Okay. Thank you so much.
Operator: Your next question comes from the line of Jerry Revich with Goldman Sachs. Please go ahead.
Jerry Revich: Yes. Hi. Good morning everyone.
Robert Pragada: Hi, Jerry.
Jerry Revich : Bob, I’m wondering if you could just talk about the data center opportunity for you folks. What does the scope of CapEx looks like for data centers for you folks compared to semi-cap equipment and your market share when we last spoke, the outlook for data center CapEx was, I don’t know, probably 30% lower. So, I’m wondering, as you think about the outlook for advanced facilities could growth actually accelerate if your content on data centers is remotely similar to what it is for the semi-cap equipment? Thanks.
Robert Pragada: Yes, Jerry, if you look at data centers as a percentage of — from a deployed capital perspective of a percentage of kind of call it the electronics universe, it is just — this is not Jacobs. It’s just — it is a minority share of the billions that get put into chip manufacturing and then the entire life cycle of the chip delivery profile to the market. So, that’s kind of point one. But the rate of growth really driven by AI and the needs for these data centers is what’s driving our business. So we see that growing. From a pure design perspective, these are not overall — the facility itself is not the real complicated component. What’s becoming more complicated are the power needs and the cooling needs, the water needs.
So, that’s what our teams are really focused in on. You’ve seen probably some of the bigger power management companies Eaton and Schneider and others talk about how it’s driving their business that goes into the hardware that’s going into data centers. But the consultancy piece, that power and water usage is going to be a bigger piece of how we kind of expand that value proposition there.
Jerry Revich: And in terms of within People & Places, really good top line growth and you mentioned there’s some bookings coming up. Can you just calibrate us which of your end markets were the biggest drivers of growth in the quarter and based on what’s in backlog and bookings, which end markets do you expect to be above segment average growth over the next couple of quarters?
Robert Pragada: Water and Life Sciences. Those two right now, even as far as rates at a point in time that represents probably over 50% of that P&PS growth. And then when we look at the pipeline moving forward, those are pipelines that are, as I mentioned before, doubling in size, and that’s global. So, areas that might have some geo-economic challenges such as the U.K. If you look at the water bookings and the growth in water in those geographies, that’s growing. And of course, that’s been a driver, both in the U.S. as well as in Australia and the Middle East, too. So Life Sciences Europe and U.S. wire globally.
Jerry Revich: Thank you.
Operator: Your next question comes from the line of Josh Sullivan with The Benchmark Company. Please go ahead.
Josh Sullivan: Hey, good morning.
Robert Pragada: Hi, good morning, Josh.
Josh Sullivan: Can you just comment maybe on labor availability, inflation retention on a geographic basis? Where is it still hot? Or is it getting a little better?
Robert Pragada: Yes. It’s not all over. And as far as wage inflation, we still — it’s there, but our ability to kind of look at value-added solutions for our clients and looking on how we can continue to deliver at a price point that drives the capital deployment from our clients. That has not really changed as we continue to innovate in that space. What’s really helped us, Josh, has been our global delivery model. If we look at the engagements that we have, whether they be smaller consultancy engagements or larger programs, these jobs and these engagements with our clients have literally got people from all over our global delivery platforms. And so — and we’re going to continue with that because it’s not necessarily the cost arbitrage that might be an outcome, but it’s the talent arbitrage, and our talent is literally in every geography that we have today. So it has not really been a big issue for us.
Josh Sullivan: Got it. And then just on the short-cycle wins you mentioned in the comments there, where specifically were those? Any structural shift in focus or is that just opportunistic?
Robert Pragada: No. It’s probably been focused around telecom, weapon sustainment, and then some scope growth that we see in our aerospace work as well.
Josh Sullivan: Got it. Thank you for the time.
Operator: That concludes our question-and-answer session, and I will now turn the conference back over to Bob Pragada for closing remarks.
Robert Pragada: Thank you, everyone, for joining our earnings call. We really look forward to providing further updates and visiting with all of you and investors and analysts in the months to come, and look forward to engaging first hand. Thank you, everyone.
Operator: This concludes today’s conference call. Thank you for your participation, and you may now disconnect.
