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Jacobs (JEC) Beats on Q1 Earnings Estimates, Lags Revenues

Pasadena, California-based Jacobs Engineering Group Inc.JEC provides engineering and other services related to design and construction of major facilities, plants, infrastructure and other projects. JEC shares high brand value in the market but is also exposed to certain risks of external market uncertainties. The company has a track record of missing two estimates in the last four quarters, with a positive average beat of 6.55%.

Currently, JEC has a Zacks Rank#4 (Sell) but that could change following its first-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: JEC beat on earnings. Adjusted Earnings per share came in at 78 cents, up 13% with respect to the Zacks Consensus Estimate of 69 cents.

Revenue: Revenues of $2847.9 million were below the Zacks Consensus Estimate of $2930 million.

Key Stats: Jacobs aims to generate profitable commercial growth on the back of tactical restructuring programs. The company intends to improve its business on the back of strategic cost saving plans and record backlog levels. However, Jacobs perceives that macro headwinds such as appreciation of U.S. dollar and weakness in the global commodity as well as energy market prices might weigh on its revenues and earnings in the near future. Based on the current market scenario, Jacobs anticipates accruing earnings within the range of $2.80-$3.30 in fiscal 2016.

Stock Price: Shares prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this JEC earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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