- Jacobs Engineering Group Inc J reported third-quarter revenue growth of 9.7% year-over-year to $3.58 billion, missing the consensus of $3.64 billion.
- Revenues by segments: Critical Mission Solutions $1.22 billion (+0.6% Y/Y), People & Places Solutions $2.1 billion (+2.6% Y/Y) and PA Consulting $255.8 million.
- Adjusted EPS improved to $1.64 from $1.26 in 3Q20, beating the consensus of $1.53.
- The gross margin expanded by 350 bps to 22.8%.
- The operating income increased by 35.7% Y/Y to $263.75 million, and the margin expanded by 140 bps to 7.4%.
- Jacobs Engineering generated cash from operating activities year-to-date of $523.57 million, compared to $374.48 million a year ago.
- At the end of the quarter, the company's backlog was $25.44 billion, up 7.4% Y/Y.
- "We believe we are entering an attractive growth period for Jacobs, driven by strong global trends in infrastructure modernization, energy transition, national, security and a potential super-cycle in global supply chain investments. We see these opportunities leading to an increasing and robust sales pipeline developing in FY22 and into FY23," commented Chair and CEO Steve Demetriou.
- FY21 Outlook: Jacobs Engineering expects adjusted EBITDA of $1.21 billion - $1.275 billion (prior view $1.20 billion - $1.27 billion) and adjusted EPS of $6.15 - $6.35 (prior view $6.00 - $6.30), versus the consensus of $6.19.
- It also increased the expected adjusted EPS net accretion from PA Consulting to $0.35 - $0.37 from $0.32 - $0.34.
- Price action: J shares traded lower by 2.91% at $130.00 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
