Jacobs Engineering: Fiscal 1Q Earnings Snapshot
DALLAS (AP) _ Jacobs Engineering Group Inc. (JEC) on Wednesday reported fiscal first-quarter net income of $124 million.
The Dallas-based company said it had profit of 86 cents per share. Earnings, adjusted for one-time gains and costs, came to 78 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The construction and technical services company posted revenue of $3.08 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $3.81 billion.
Jacobs Engineering expects full-year earnings in the range of $5.10 to $5.50 per share.
Jacobs Engineering shares have risen 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 9 percent. The stock has increased almost 6 percent in the last 12 months.