S&P/ASX 200 Index (ASX: XJO) stock Worley Ltd (ASX: WOR) is bucking the broader market malaise today. 

To say the least.

Shares in the engineering and professional services company closed yesterday trading for $14.02. In morning trade, shares leapt to $15.64, up 11.6%, giving Worley a market cap north of $8.2 billion. After some likely profit-taking, shares are swapping hands for $15.52 at the time of writing, up 10.7%.

For some context, the ASX 200 is down 0.2% at this same time.

This strong outperformance follows the release of Worley's half-year results for the six months to 31 December (H1 FY 2025).

Here's what's piquing investor interest.

ASX 200 stock leaps on earnings growth

• Aggregated revenue of $5.99 billion, up 6.8% year on year
• Underlying earnings before interest, taxes and amortisation (EBITA) of $376 million, up 9.0% from H1 FY 2024
• Underlying net profit after tax and amortisation (NPATA) of $216 million, up 14.9% year on year
• Interim unfranked dividend of 25 cents per share, in line with the 2023 interim dividend

What else did Worley report for the half year?

Atop increasing half-year earnings to $376 million, margins improved too.

The ASX 200 stock reported an underlying EBITA margin, excluding procurement, of 8.4%, up from 7.5% in H1 FY 2024. The underlying EBITA margin including procurement increased to 6.3% from 6.1%. 

Bookings of $6.6 billion of work were up from $6.2 billion in H1 FY 2024 but slightly lower than the prior half year.

Worley reported a backlog of $12.7 billion, down from $13.8 billion on 30 June 2024, which the company said reflects current market dynamics.

The ASX 200 stock invested $23 million over the first half of the financial year. And the company expects to invest another $58 million in the second half. Worley's investments are aimed at scaling the company's operations in growth markets. Worley said it is also investing in digital enablement and AI to "produce accretive returns" and help drive margin improvement.

What did management say?

Commenting on the results boosting the ASX 200 stock today, Worley CEO Chris Ashton said:

Worley has continued to deliver growth in earnings and margins in line with our expectations. These results are underpinned by our continued focus on doing what we do best and deliberate actions to drive ongoing increases in operating margins.

We're currently operating in a market that is requiring us to adapt to economic and political shifts and this is impacting our customer's decisions around investment spend.

Our performance reflects our strength as a diversified business with breadth of capability, disciplined strategy execution, a global footprint and strong customer relationships.

What's next for the ASX 200 stock?

Looking at what could impact the ASX 200 stock in the months ahead, Worley reconfirmed its outlook expectations for FY 2025.

The company is targeting low double-digit EBITA growth and expects the underlying EBITA margin (excluding the impact of procurement) to be within a range of 8.0% to 8.5%.

"Our pipeline remains consistent with our view that FY 2025 will be a moderated year, albeit we are seeing some positive trends emerging," Ashton said.

"While our factored sales pipeline has seen a marginal decline in the six-month period to January, it remains broadly in line with the same time last year and we're confident in the high-quality work we continue to win," he added.