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Jacobs Engineering Group Inc J

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Jacobs Starts Fiscal 2021 with Solid Q1 and Increases Full-Year EPS Guidance Range; Raising FVE

Analyst Note

| Krzysztof Smalec, CFA |

Jacobs Engineering reported solid fiscal first-quarter results, as its adjusted EPS of $1.41 easily beat the $1.28 FactSet consensus estimate. Management raised the lower end of its full-year fiscal 2021 adjusted EPS guidance range by a dime, to $5.30-$6.00 from $5.20-$6.00. After updating our near-term projections, we are bumping our fair value estimate for Jacobs Engineering to $124 from $120, which reflects the firm’s consistently strong execution, a more upbeat outlook, as well as time value of money since our last update.

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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.

1999 Bryan Street, Suite 1200
Dallas, TX, 75201
T +1 214 583-8500
Sector Industrials
Industry Engineering & Construction
Most Recent Earnings Dec 31, 2020
Fiscal Year End Oct 2, 2021
Stock Type Cyclical
Employees 55,000