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

Stocks in this article: JEC

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

Third Quarter Fiscal 2013 Highlights:

  • Net earnings for the quarter of $108.9 million;
  • Diluted EPS for the quarter of $0.83;
  • Net earnings for the nine months ended June 28, 2013 of $312.3 million;
  • Diluted EPS for the nine months ended June 28, 2013 of $2.39; and,
  • Backlog at June 28, 2013 of $17.2 billion.

Jacobs reported today net earnings of $108.9 million, or $0.83 per diluted share, on revenues of $3.08 billion for its third quarter of fiscal 2013 ended June 28, 2013. This is up from net earnings of $97.9 million, or $0.76 per diluted share, on revenues of $2.77 billion for the third quarter of fiscal 2012 ended June 29, 2012.

For the nine months ended June 28, 2013, Jacobs reported net earnings of $312.3 million, or $2.39 per diluted share, on revenues of $8.68 billion. This compares to net earnings of $271.5 million, or $2.11 per diluted share, on revenues of $8.11 billion for the same period in fiscal 2012.

Jacobs also announced that backlog grew by 10.2% totaling $17.2 billion at June 28, 2013, including a technical professional services component of $11.1 billion. This compares to total backlog and technical professional services backlog of $15.6 billion and $10.2 billion, respectively, at June 29, 2012.

Commenting on the results for the third quarter, Jacobs President and CEO Craig L. Martin stated, “Third quarter results were good. Our earnings grew, backlog improved, and our overall operating performance met our expectations. We continue to see significant sales activity in most of our markets and our team demonstrated its ability to take market share throughout the quarter. We remain positive about the outlook for FY13.”

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