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Jacobs Engineering Group Inc. Reports Solid Earnings For The First Quarter Of Fiscal 2013

Jacobs Engineering Group Inc. (NYSE:JEC) announced today its financial results for the first quarter of fiscal 2013 ended December 28, 2012.

First Quarter Fiscal 2013 Highlights:

  • Net earnings for the quarter of $99.0 million;
  • Diluted EPS for the quarter of $0.76;
  • Backlog at December 28, 2012 of $16.2 billion.

Jacobs reported today net earnings of $99.0 million, or $0.76 per diluted share, on revenues of $2.76 billion for its first quarter of fiscal 2013 ended December 28, 2012. This is up from net earnings of $89.7 million, or $0.70 per diluted share, on revenues of $2.63 billion for the first quarter of fiscal 2012 ended December 30, 2011.

Jacobs also announced that backlog grew by 11.8% totaling $16.2 billion at December 28, 2012, including a technical professional services component of $10.4 billion. This compares to total backlog and technical professional services backlog of $14.5 billion and $9.5 billion, respectively, at December 30, 2011.

Commenting on the results for the first quarter, Jacobs President and CEO Craig L. Martin stated, “The business is doing well. Operating performance and cost control are both good and our backlog continues to grow. We see continuing growth in a number of key markets and multiple opportunities for increasing market share. Our outlook for fiscal 2013 remains very positive.”

Commenting on the Company's earnings outlook for the remainder of fiscal 2013, Jacobs Chief Financial Officer John W. Prosser, Jr. stated, “First quarter results are in line with our expectations, and we are maintaining our guidance at $3.00 to $3.50 per share.”

Jacobs is hosting a conference call at 11:00 a.m. Eastern Time on Thursday, January 24, 2013, which it is webcasting live on the Internet at www.jacobs.com.

Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.

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