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Jacobs Engineering Group Inc J

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Jacobs Raises Full-Year Outlook After Strong Fiscal Third Quarter; Increasing Fair Value Estimate

Analyst Note

| Krzysztof Smalec, CFA |

We’ve increased our fair value estimate for Jacobs Engineering to $141 from $136 after the company delivered strong fiscal third-quarter results and raised its outlook for full-year 2021. Jacobs’ fiscal third-quarter adjusted EPS of $1.64 beat the FactSet consensus estimate of $1.53. The fair value increase reflects the firm’s outperformance, an improved near-term outlook, and time value of money, partially offset by the implementation of a probability-weighted change in the U.S. statutory tax rate in our model.

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Company Profile

Business Description

Jacobs Engineering is a global provider of engineering, design, procurement, construction, and maintenance services as well as cyber engineering and security solutions. The firm serves industrial, commercial, and government clients in a wide variety of sectors, including water, transportation, healthcare, technology, and chemicals. Jacobs Engineering employs approximately 55,000 workers. The company generated $13.6 billion in revenue and $970 million in adjusted operating income in fiscal 2020.

Contact
1999 Bryan Street, Suite 1200
Dallas, TX, 75201
T +1 214 583-8500
Sector Industrials
Industry Engineering & Construction
Most Recent Earnings Jun 30, 2021
Fiscal Year End Oct 2, 2021
Stock Type Cyclical
Employees 55,000

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