Jacobs Engineering will report its fiscal fourth-quarter 2017 earnings prior to the market opening on Tuesday, and will hold a quarterly conference call with financial analysts at 10 a.m. EST.
It will mark the company’s last earnings call prior to the Dec. 13 vote by CH2M stockholders on a buyout by Jacobs. The CH2M vote marks one of the last remaining hurdles to the anticipated close of the merger of the two international engineering concerns. The companies have already rolled up key regulatory approvals from the United States, Canada, and the European Commission.
The Jacobs earnings report will be among the final financial filings with the U.S. Securities and Exchange Commission by companies involved with federal defense waste cleanup prior to the Thanksgiving holiday.
Jacobs’ $3.27 billion acquisition of CH2M, expected to close by the end of 2017, would make the Dallas-based company a much bigger player within the Department of Energy complex. For example: A CH2M-led team in October took over remediation of DOE’s Paducah Gaseous Diffusion Plant in Kentucky, under a contract worth $1.5 billion over a decade.
Jacobs reported $2.5 billion in revenue for the fiscal third quarter ended June 30, which produced $89 million in net earnings ($0.74 per share). Revenue declined somewhat from $2.7 billion in third-quarter 2016, but net earnings were up significantly from last year’s $69.1 million ($0.57 per share).
Jacobs is a partner in Mission Support Alliance, which provides emergency services and other support activities at DOE’s Hanford Site in Washington state. The company is also partnering with Honeywell and Stoller Newport News Nuclear on Mission Support and Test Services, which in May won a new 10-year, $5 billion management and operations role for the Nevada National Security Site.
