Jacobs Engineering Raises Adj. Earnings Outlook - Quick Facts

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(RTTNews.com) - Jacobs Engineering Group Inc. ( JEC ) increased its earnings outlook for fiscal 2018 to $4.00-$4.40 per share on an adjusted basis, up from previous forecast of $3.85-$4.25.

Second-quarter adjusted EPS was $1.00, up 28% year-over-year. Revenue of $3.9 billion grew 16% on a pro forma basis from prior year.

Kevin Berryman, Jacobs CFO, added, "We are demonstrating how strong execution continues to strengthen our bottom line. Revenue grew 16% over last year's pro forma revenue for Jacobs and CH2M combined. We are tracking on plan to achieve the cost synergies from the CH2M acquisition and remain committed to achieving the run-rate of $150 million of net cost synergies by the end of fiscal 2019. From a cash flow standpoint, strong business performance mitigated the impact of the one-time costs associated with the acquisition and restructuring costs to deliver synergies, resulting in a decrease in our gross debt compared with Q1. We are confident in our ability to significantly reduce net debt in the second half of fiscal 2019."

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This article appears in: Fundamental Analysis , Stocks , Earnings
Referenced Symbols: JEC

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