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Jacobs (JEC) Beats on Q2 Earnings and 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 one estimate in the last four quarters, with a positive average beat of 10.13%.

Currently, JEC has a Zacks Rank#3 (Hold) but that could change following its second-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 75 cents, up 10.3% with respect to the Zacks Consensus Estimate of 68 cents.

Revenue: Revenues of $2.78 billion were above the Zacks Consensus Estimate of $2.75 billion.

Key Stats: JEC is overcoming end market challenges with sound operational performance. The company aims to improve its business on the back of prompt project delivery, appropriate cost reduction and greater business diversification. Full year fiscal 2016 EPS guidance range is revised to $2.90-3.20 per share from $2.80-$3.30 previously stated.

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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