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, one of the junior partners on Nevada National Security Site prime Mission Support and Test Services, split the difference on its earnings numbers. Net earnings rose from $89 million, or $0.65 a share in third-quarter 2019 to $227 million, or $1.73 a share, this year. However, excluding discontinued operations, earnings fell to $165 million, or $1.26 a share, from $193 million, or $1.40 a share.
Management gave a small boost to its earnings guidance for the full fiscal 2020: Adjusted earnings before interest, taxes, depreciation, and amortization is now expected in a range of $1 billion to $1.0502 billion, or $5.05 a share to $5.302 a share. That is up from $950 million to $1.050 billion, or $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.
