Jacobs Engineering -8.5% after Q2 results and lowered guidance


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.

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Comments (1)
  • Percy07
    , contributor
    Comment (1) | Send Message
     
    Once again, management brush off bad results by citing exceptional circumstances. These seem to occur every quarter! While backlog goes up they seem incapable of extracting the profit which is there for the taking.
    29 Apr 2014, 03:22 PM Reply Like
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