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Jacobs Engineering Group Inc J

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Jacobs Posts Solid Fiscal Q2 Results and Raises Full-Year 2021 Guidance Range; Increasing Fair Value

Analyst Note

| Krzysztof Smalec, CFA |

We are raising our fair value estimate for Jacobs Engineering to $136 from $124 after the company reported solid fiscal second-quarter results and raised its guidance for full-year 2021. The company posted fiscal second-quarter revenue of $3,548 million and adjusted EPS of $1.75 (including $0.09 of accretion from PA Consulting), both above FactSet consensus estimates of $3,490 million and $1.36. GAAP EPS from continuing operations was $0.00 due to one-time charges related to the PA Consulting transaction. The fair value increase reflects our more optimistic revenue growth and operating margin assumptions as well as time value of money.

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Company Profile

Business Description

Jacobs Engineering is a global provider of engineering, design, procurement, construction, and maintenance services as well as cyber engineering and security solutions. The firm serves industrial, commercial, and government clients in a wide variety of sectors, including water, transportation, healthcare, technology, and chemicals. Jacobs Engineering employs approximately 55,000 workers. The company generated $13.6 billion in revenue and $970 million in adjusted operating income in fiscal 2020.

Contact
1999 Bryan Street, Suite 1200
Dallas, TX, 75201
T +1 214 583-8500
Sector Industrials
Industry Engineering & Construction
Most Recent Earnings Mar 31, 2021
Fiscal Year End Oct 2, 2021
Stock Type Cyclical
Employees 55,000

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