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Jacobs Engineering Group Inc. Reports Earnings For Fiscal 2012

Stocks in this article: JEC

Jacobs Engineering Group Inc. (NYSE:JEC) announced today its financial results for the fiscal year and fourth quarter ended September 28, 2012.

Fiscal 2012 and Fourth Quarter Fiscal 2012 Highlights (including a one-time gain):

  • Net earnings for fiscal 2012 of $379 million;
  • Diluted EPS for fiscal 2012 of $2.94;
  • Net earnings for the fourth quarter of fiscal 2012 of $107.4 million;
  • Diluted EPS for the fourth quarter of fiscal 2012 of $0.83; and,
  • Backlog at September 28, 2012 of $15.9 billion.

Jacobs reported net earnings of $379 million, or $2.94 per diluted share ($375 million, or $2.91 per diluted share excluding a one-time gain), on revenues of $10.89 billion for its fiscal year ended September 28, 2012. This compares to net earnings of $331 million, or $2.60 per diluted share, on revenues of $10.38 billion for fiscal 2011.

For the fourth quarter of fiscal 2012, Jacobs reported net earnings of $107.4 million, or $0.83 per diluted share ($103.4 million, or $0.80 per diluted share excluding a one-time gain), on revenues of $2.79 billion. This rose from net earnings of $94.3 million, or $0.74 per diluted share, on revenues of $2.72 billion for the same period in fiscal 2011.

Included in the Company's results for the fiscal year and quarter ended September 28, 2012 is a one-time, after-tax gain of $4.0 million, or $0.03 per diluted share, related to the sale of the Company's intellectual property for iron ore pelletizing and other related assets.

Jacobs also announced that backlog grew by 11.3%, totaling $15.9 billion at September 28, 2012, including a technical professional services component of $10.3 billion. This compares to total backlog and technical professional services backlog of $14.3 billion and $9.1 billion, respectively, at September 30, 2011.

Commenting on the results for the year, Jacobs President and CEO Craig L. Martin stated, “Fiscal 2012 was a good year. Our business grew across most markets, demonstrating that our diversification strategy and core client focus gives us the ability to excel even in challenging economic times. Earnings grew by over 13%, and fiscal 2013 looks promising.”

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