Jacobs Engineering on Monday reported a slight bump in revenue for its fiscal third quarter, from $3.2 billion in 2019 to $3.3 billion this year. Net revenue took a similarly modest step up for the three-month period ending June 26, from $2.6 billion to $2.7. billion on a year-over-year basis.
The Department of Energy contractor split the difference on its earnings numbers. Generally accepted accounting principles (GAAP) earnings rose from $89 million ($0.65 per share) in third-quarter 2019 to $227 million ($1.73) this year. However, adjusted net earnings from continuing operations dipped from $193 million ($1.40) to $165 million ($1.26).
Management gave a small boost to its earnings guidance for the full fiscal 2020: Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is now expected in a range of $1 billion to $1.0502 billion ($5.05 to $5.302 per share), up from $950 million to $1.050 billion ($4.80 to $5.30).
“We have maintained focus on our top priority: keeping our people safe and ensuring business continuity for our customers. I am extremely proud of how our people have responded, not only to the COVID-19 pandemic, but also our company-wide support for social justice and global equality. We continue to align our culture around our values, particularly ’We live inclusion,’ combined with our willingness to continuously learn – and turn that learning into action and solutions,” Jacobs Chair and CEO Steve Demetriou said in a press release.
Through its 2017 acquisition of CH2M, the Dallas-based company is the prime cleanup contractor for the Energy Department’s Hanford Site in Washington state and partners with Amentum on similar work at the Oak Ridge Site in Tennessee. Jacobs is one of the members of Four Rivers Nuclear Partnership, deactivation and remediation prime at DOE’s Paducah Site in Kentucky.
Jacobs’ earnings conference call and webcast is scheduled for noon Eastern time today.
That will be followed later this week by the latest earnings from BWX Technologies, which has scheduled its earnings call for 9 a.m. Eastern time Tuesday; AECOM, which has scheduled its call for noon Eastern time Tuesday; and US Ecology, which will release its earnings after market close Thursday and speak with analysts at 10 a.m. Eastern time Friday.
