Jacobs Engineering Group Beats Q4 EPS, Misses Revenue

Jacobs Engineering Group Inc. JEC announced fiscal fourth quarter earnings Monday,

Revenues were $3.2 billion, below estimates of $3.32 billion.

Net earnings were $86.1 million, or $0.65 per diluted share which included a restructuring charge of $0.23.  Excluding the charge, the EPS of $0.88 was above estimates of $0.86.

Earnings decreased from $110.8 million, or $0.84 per diluted share, on revenues of $3.1 billion for the same period in fiscal 2013.

Commenting on the results for the year, Jacobs President and CEO Craig Martin stated, “While FY14 presented a number of challenges, new projects are contributing to our outlook for fiscal year 2015. We completed an in-depth review of our costs and have further strengthened our cost position. We streamlined offices and repositioned personnel to win new business in our targeted markets. We continue to expect to deliver profitable growth over the long term that is in line with our longstanding 15 percent growth goal.”

Jacobs Chief Financial Officer John W. Prosser, Jr. stated, “Initial guidance for fiscal 2015 diluted earnings per share is a range of $3.35 to $3.85. As is historically typical, we expect first quarter earnings per share to be down sequentially from our last quarter.”

Jacobs Engineering Group Inc. closed at $47.23 Monday, down 0.96 percent.