Jacobs Engineering Group Inc. reports earnings for the fiscal 1Q19

Highlights:

• 1Q19 revenue (excluding ECR) of US$3.1 billion grew 73% year-over-year and 12% on a pro forma basis.
• 1Q19 operating profit margin and adjusted operating profit margin (excluding ECR) up over 75 bps.
• 1Q19 EPS of US$0.86, impacted by ECR sale, CH2M related restructuring and other charges.
• 1Q19 adjusted EPS of US$1.14 up 48% year-over-year and above the mid-point of guidance.
• Increasing fiscal 2019 adjusted EPS outlook to US$5.10 to US$5.50 from US$5.00 to US$5.402, assuming full-year ECR.
• Backlog (excluding ECR) increased US$1.4 billion, or 8% year-over-year to US$20.3 billion.

Jacobs' Chair and CEO, Steve Demetriou, commented, "We have demonstrated a track record of disciplined capital deployment by accelerating profitable growth and scale through the acquisition of CH2M, transforming our portfolio with the announced divestiture of our Energy, Chemicals, and Resources business and opportunistically buying back shares - all while on track to exceed our 3-year financial commitments made in 2016. Furthermore, we are excited about future opportunities for strong profitable growth in the company's continuing lines of business and look forward to communicating our new Jacobs strategy at the upcoming investor day."

The company continues to expect the sale of its Energy, Chemicals and Resources (ECR) business to close by June 30th.

Read the article online at: https://www.worldfertilizer.com/special-reports/07022019/jacobs-engineering-group-inc-reports-earnings-for-the-fiscal-1q19/