Jacobs Engineering -8.5% after Q2 results and lowered guidance

|About: Jacobs Engineering Group Inc. (JEC)|By:, SA News Editor

Jacobs Engineering Group (JEC -8.5%) shares sink after reporting FQ2 results that missed profit and revenue estimates.

JEC also lowered its FY 2014 EPS outlook to $3.15-$3.55 from $3.35 to $3.90, vs. analyst consensus estimate of $3.66, citing a slow start to the year and a lower than expected contribution from the earlier acquisition of Australian professional services firm SKM.

Reported total backlog of $18.4B, including a technical professional services backlog of $12.6B, up a respective ~10% and ~15% from year-ago levels.