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Jacobs Engineering Group Inc J

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Morningstar’s Analysis

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We Expect Jacobs’ Growth to Accelerate Heading Into Fiscal 2022; Increasing FVE to $152

Analyst Note

| Krzysztof Smalec, CFA |

Jacobs Engineering ended its fiscal 2021 on a solid note, as its fiscal fourth-quarter adjusted EPS from continuing operations of $1.58 came in line with our expectations. Management initiated guidance for full-year fiscal 2022 and expects adjusted EBITDA of $1,370 million to $1,450 million and adjusted EPS of $6.85 to $7.45 (compared with our prior estimate of $6.87). After rolling our model forward one year, we’ve raised our fair value estimate for Jacobs to $152 from $141, which reflects our more optimistic revenue growth projections 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 $14.1 billion in revenue and $1.2 billion in adjusted operating income in fiscal 2021.

1999 Bryan Street, Suite 1200
Dallas, TX, 75201
T +1 214 583-8500
Sector Industrials
Industry Engineering & Construction
Most Recent Earnings Sep 30, 2021
Fiscal Year End Oct 2, 2021
Stock Type Cyclical
Employees 58,000