Jacobs Engineering Exceeds Expectations
- Share via
Shares of Jacobs Engineering Group Inc. advanced to a record high Tuesday, a day after the Pasadena-based company posted sharply higher fiscal first-quarter earnings that beat Wall Street expectations.
The company posted a profit of $43 million, or 72 cents a share, up from $28.9 million, or 50 cents, a year earlier. Revenue rose to $1.68 billion from $1.28 billion. Jacobs also said its backlog grew by $1 billion year-over-year to $9 billion.
Jacobs said its expected earnings growth this year to approach 20%, excluding expensing for stock options.
Jacob shares jumped 8% to $77.21, up $5.54.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
