Earnings rose at Jacobs, Dallas, in the second quarter of its fiscal 2022 year, which the international engineering and construction company attributed to increased demand across virtually all business lines.
Net earnings for the quarter ended April 1 were $89 million, or $0.68 a share, up from net earnings of zero in the year-ago quarter, Jacobs said Tuesday in a press release. Quarterly revenue was $3.8 billion, up year-over-year from $3.5 billion.
Quarterly operating income for the Critical Mission Solutions segment, from which Jacobs directs its Department of Energy and other government contracting business, was $113 million down slightly from the almost $114 million recorded a year ago. Segment revenue was about $1.37 billion, incrementally up from $1.3 billion in the year-ago period.
“We are seeing accelerating demand across all end markets, with incremental opportunities to scale in the areas of Climate Response, Consulting & Advisory and Data Solutions,” Jacobs’ Chair and CEO Steve Demetriou said in the release. “These compelling opportunities are reflected in our results with strong bookings performance during the first half of the fiscal year and 9% backlog growth in the second quarter, which positions us well for the remainder of fiscal 2022.”
Jacobs’ President and CFO Kevin Berryman said the company has repurchased $135 million of shares since the beginning of March.
Jacobs is the lead partner on the DOE cleanup contract at the Idaho National Laboratory, a deal that started last October and could be worth $6.4 billion over 10 years, as well as smaller contracts at the Paducah Site in Kentucky and the West Valley Demonstration Project in New York.
Jacobs was scheduled to hold an earnings conference call at 10 a.m. Eastern Time Tuesday.
