Jacobs Engineering reports Q4 adjusted EPS 77c, consensus 77c
Reports Q4 revenue $2.64B, consensus $2.78B. Jacobs announced a total backlog of $18.8B at year end 2016, including a technical professional services component of $12B. Total professional services backlog are up $321M from year end 2015. Steve Demetriou, Jacobs Chairman and CEO said, "While facing significant market challenges throughout FY2016, we implemented a global realignment into four lines of business and successfully executed against a significant restructuring and cost reduction initiative. This has reinforced greater accountability and improved project execution across Jacobs, all while conducting a far-reaching strategic review. Although certain global markets continue to face economic headwinds, we are now pivoting to sales growth and believe our more efficient cost structure, end-market diversity and margin focus will result in increased profitability in FY2017."