Jacobs Engineering (JEC) Tops Q3 EPS by 24c; Raises Outlook

Jacobs Engineering (NYSE: JEC) reported Q3 non-GAAP EPS of $0.97, $0.24 better than the analyst estimate of $0.73. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $3.01 billion.

Jacobs Engineering sees FY2015 EPS of $3.11-$3.31, versus the consensus of $2.93.

Commenting on the results for the third quarter, Jacobs Executive Chairman Noel Watson stated, “We saw good sales progress in our third quarter resulting in near-record backlog. Consistent with our views from last quarter, we continue to be cautious in our short-term outlook and remain confident in the long-term growth potential of our global business.”

Commenting on the Company’s earnings outlook for the future, Jacobs Chief Financial Officer Kevin Berryman stated, “We are seeing some of the early benefits of our restructuring plan as we are driving out costs that reflect ongoing savings, aggressively aligning our global operations with the market environment, simplifying our global business in the process and therefore positioning Jacobs to deliver industry-leading growth and profitability over the longer term.”

Mr. Berryman also added, “We expect to see much of the benefit of this year’s restructuring in FY 2016, although some benefits are being realized in FY 2015, as indicated by our lower G&A figures during the quarter. Finally, given our performance through the first three quarters, we have raised our full year EPS guidance to a range of $3.11 to $3.31.”

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

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