Jacobs Reports Strong Year-Over-Year Operating Profit Growth
Recognizes Gain From Early Stage Investment in AI Software Provider C3.ai
Delivers on Sustainability Commitment to Achieve Net Carbon Zero in 2020
Announces Favorable PA Consulting Shareholder Vote
Increases Midpoint of Fiscal 2021 Adjusted EBITDA and Adjusted EPS Outlook
DALLAS, TX (STL.News) Jacobs Engineering Group Inc. (NYSE: J) today announced its financial results for the fiscal first quarter ended January 1, 2021.
Q1 2021 Highlights:
- Revenue of $3.4 billion1 grew 0.6% year-over-year; net revenue flat pro format
- EPS from continuing operations of $1.96 up 47% year-over-year
- Adjusted EPS from continuing operations of $1.41 up 17% year-over-year
- Backlog increased $2.4 billion to $25.1 billion, up 11% year-over-year and up 7% on a pro forma basis
- Strong cash flow from operations and free cash flow of $112.6M and $95.9M, respectively
- Increases midpoint of fiscal 2021 adjusted EBITDA and adjusted EPS outlook2
Jacobs’ Chair and CEO Steve Demetriou commented, “I am very pleased with our strong first-quarter results, including robust cash flow. The key to delivering this performance is our people, who are aligned toward our common purpose of creating a more connected, sustainable world to drive success for all Jacobs’ stakeholders.