Let’s dig into the relative performance of UL Solutions (NYSE: ULS) and its peers as we unravel the now-completed Q1 government & technical consulting earnings season.

The sector has historically benefitted from steady government spending on defense, infrastructure, and regulatory compliance, providing firms long-term contract stability. However, the Trump administration is showing more willingness than previous administrations to upend government spending and bloat. Whether or not defense budgets get cut, the rising demand for cybersecurity, AI-driven defense solutions, and sustainability consulting should benefit the sector for years, as agencies and enterprises seek expertise in navigating complex technology and regulations. Additionally, industrial automation and digital engineering are driving efficiency gains in infrastructure and technical consulting projects, which could help profit margins.

The 7 government & technical consulting stocks we track reported a satisfactory Q1. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q1: UL Solutions (NYSE: ULS)

Founded in 1894 as a response to the growing dangers of electricity in American homes and businesses, UL Solutions (NYSE: ULS) provides testing, inspection, and certification services that help companies ensure their products meet safety, security, and sustainability standards.

UL Solutions reported revenues of $758 million, up 7.5% year on year. This print exceeded analysts’ expectations by 1.2%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS and revenue estimates.

Interestingly, the stock is up 8.1% since reporting and currently trades at $97.44.

We think UL Solutions is a good business, but is it a buy today? Read our full report here, it’s free.

SAIC (NASDAQ: SAIC)

With over five decades of experience supporting national security missions, Science Applications International Corporation (NASDAQ: SAIC) provides technical, engineering, and enterprise IT services primarily to U.S. government agencies and military branches.

SAIC reported revenues of $1.91 billion, up 1.5% year on year, outperforming analysts’ expectations by 4.1%. The business had a very strong quarter with a beat of analysts’ EPS and revenue estimates.

SAIC delivered the biggest analyst estimate beat among its peers. The market seems happy with the results as the stock is up 9.7% since reporting. It currently trades at $114.32.

Is now the time to buy SAIC? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Amentum (NYSE: AMTM)

With operations spanning approximately 80 countries and a workforce of specialized engineers and technical experts, Amentum Holdings (NYSE: AMTM) provides advanced engineering and technology solutions to U.S. government agencies, allied governments, and commercial enterprises across defense, energy, and space sectors.

Amentum reported revenues of $3.48 billion, flat year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates.

As expected, the stock is down 7.8% since the results and currently trades at $22.07.

Read our full analysis of Amentum’s results here.

Maximus (NYSE: MMS)

With nearly 50 years of experience translating public policy into operational programs that serve millions of citizens, Maximus (NYSE: MMS) provides operational services, clinical assessments, and technology solutions to government agencies in the U.S. and internationally.

Maximus reported revenues of $1.31 billion, down 4.1% year on year. This number missed analysts’ expectations by 0.9%. Taking a step back, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but a slight miss of analysts’ revenue estimates.

The stock is down 4% since reporting and currently trades at $61.37.

Read our full, actionable report on Maximus here, it’s free.

Jacobs Solutions (NYSE: J)

With a workforce of approximately 45,000 professionals tackling complex challenges from water scarcity to cybersecurity, Jacobs Solutions (NYSE: J) provides engineering, consulting, and technical services focused on infrastructure, sustainability, and advanced technology solutions.

Jacobs Solutions reported revenues of $2.33 billion, up 8.8% year on year. This print surpassed analysts’ expectations by 2%. Overall, it was a very strong quarter as it also logged a beat of analysts’ EPS and revenue estimates.

Jacobs Solutions pulled off the fastest revenue growth among its peers. The stock is down 10.1% since reporting and currently trades at $122.80.

Read our full, actionable report on Jacobs Solutions here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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