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Jacobs Engineering reports mixed Q1 but lifts full-year earnings outlook

Feb. 06, 2019 7:39 AM ETJacobs Solutions Inc. (J) StockJBy: Carl Surran, SA News Editor8 Comments
  • Jacobs Engineering (NYSE:JEC) is flat pre-market following mixed FQ1 results, as the company raises FY 2019 earnings guidance above Wall Street consensus.
  • JEC says Q1 adjusted EPS of $1.14 jumped 48% from the prior-year quarter and topped the mid-point of guidance while Q1 revenues rose 73% Y/Y to $3.08B, yet the result fell well short of analysts expectations of $3.91B; revenues gained 12% on a pro forma basis, and backlog increased 8% Y/Y to $20.3B.
  • JEC raises guidance for FY 2019, seeing EPS of $5.10-$5.50 from $5.00-$5.40 and in line with $5.23 analyst consensus estimate.

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