Jacobs Engineering (JEC) Misses Q2 EPS by 7c; Guides Below the Street

Jacobs Engineering (NYSE: JEC) reported Q2 EPS of $0.72, $0.07 worse than the analyst estimate of $0.79. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $3.19 billion.

Jacobs Engineering sees FY2015 EPS of $2.90-$3.20, versus the consensus of $3.33.

Jacobs also announced continued strength in total backlog of $18.9 billion at March 27, 2015, including a technical professional services component of $12.6 billion. This is up approximately 2.5% from total backlog and up approximately 0.4% from technical professional services backlog of $18.4 billion and $12.6 billion, respectively, at March 28, 2014.

Commenting on the results for the second quarter, Jacobs Executive Chairman Noel Watson stated, “Strong sales in our second quarter are reflected in our backlog, which remains at near record levels. Our diversification remains a clear benefit: many of our end-markets continue to be robust, offsetting the current headwinds caused by energy and commodity prices. We continue to be cautious in our short-term outlook and remain confident in the long-term growth potential of our global business.”

Mr. Watson added, “Our strong executive leadership team is fully committed to delivering value to our customers and our shareholders.”

For earnings history and earnings-related data on Jacobs Engineering (JEC) click here.

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