DALLAS, Aug. 6, 2018 /PRNewswire/ -- Jacobs
Engineering Group Inc. (NYSE: JEC) today announced its financial
results for the fiscal third quarter ended June 29, 2018, noting the following
highlights.
- Q3 2018 net earnings of $150 M,
with $1.05 per share up 42% year over
year
- Q3 2018 adjusted net earnings of $194
M up 104% year-over-year
- Q3 2018 adjusted EPS of $1.35 per
share up 71% year-over-year
- Q3 2018 revenue of $4.2 B grew
65% year-over-year on a reported basis, 14% on a pro forma
basis
- Q3 2018 backlog of $27.2 B grew
47% year-over-year on a reported basis, 8% increase on a pro forma
basis
- CH2M cost savings are accelerating with revenue synergies
beginning to materialize in sales pipeline
- Gross debt down $172 M
sequentially; plan in place to further decrease leverage
"We continue to demonstrate strong execution on our strategic
priorities to build a high-performance culture that delivers
service excellence and innovative solutions to grow profitably.
This disciplined focus is reflected in another strong quarter of
financial performance and outlook," said Jacobs Chairman and CEO
Steve Demetriou. "Just one year
since we announced the CH2M acquisition, our integration is
tracking ahead of our plan and we are increasing our cost synergies
target to $175 million from
$150 million. Thanks to the hard work
and commitment of our people, we are creating a differentiated
professional services company, with a mission to deliver advanced
solutions for a more connected, sustainable world."
Kevin Berryman, Jacobs CFO,
added, "Our third quarter results again demonstrated strong
profitable growth, with double-digit increases in both revenue and
operating profit versus last year. We also generated over
$200 million in cash flow from
operations and reduced gross debt to adjusted EBITDA to 1.9 times,
a figure now within our long-term range, although we remain focused
to further reduce gross debt over the next several months."
Berryman also cited higher earnings. "Given our strong performance
year to date, we now expect fiscal 2018 adjusted earnings per share
to be at the high end of our previous outlook of $4.00-$4.40."1
1Reconciliation of the adjusted EPS outlook for the
full fiscal year to the most directly comparable GAAP measure is
not available without unreasonable efforts because the Company
cannot predict with sufficient certainty all the components
required to provide such reconciliation.
Third Quarter
Review
|
|
|
Fiscal 3Q
2018
|
Fiscal 3Q
2017
|
Change
|
Revenue
|
$4.2
billion
|
$2.5
billion
|
$1.6
billion
|
GAAP Net
Earnings
|
$150
million
|
$89
million
|
$61
million
|
GAAP Earnings Per
Diluted Share (EPS)
|
$1.05
|
$0.74
|
$0.31
|
Adjusted Net
Earnings
|
$194
million
|
$95
million
|
$99
million
|
Adjusted
EPS
|
$1.35
|
$0.79
|
$0.56
|
The company's adjusted net earnings and adjusted EPS for the
third quarter of fiscal 2018 and fiscal 2017 exclude the charges
and costs set forth in the table below. For additional information
regarding these adjustments and a reconciliation of adjusted net
earnings and adjusted EPS to net earnings and EPS, respectively,
refer to the section entitled "Non-GAAP Financial Measures" at the
end of this release.
|
Fiscal 3Q
2018
|
Fiscal 3Q
2017
|
After-tax
restructuring and other charges
|
NA
|
$6 million ($0.05 per
diluted share)
|
After-tax costs and
other charges associated with restructuring activities implemented
in connection with the CH2M acquisition
|
$35 million ($0.24
per diluted share)
|
NA
|
After-tax transaction
costs incurred in connection with the closing of the CH2M
acquisition
|
$4 million ($0.03 per
diluted share)
|
NA
|
Charge resulting from
the revaluation of certain deferred tax assets/liabilities in
connection with U.S. tax reform
|
$5 million ($0.04 per
diluted share)
|
NA
|
Adjusted Earnings
(EPS)
|
$194 million ($1.35
per diluted share)
|
$95 million ($0.79
per diluted share)
|
|
(note: earnings
per share amounts may not add due to rounding)
|
Fiscal third quarter 2018 effective tax rate was 20.5% excluding
the U.S. tax reform adjustment mentioned above compared to the
company's outlook for a 25% effective tax rate. The lower than
expected tax rate contributed 7 cents
to adjusted EPS.
The company is also providing an initial outlook on fiscal 2019
earlier than its normal cadence, given the lack of historical pro
forma results and seasonality of the newly combined organization.
As a result, fiscal 2019 adjusted EPS is expected to be in the
range of $5.00 to $5.40.
Jacobs is hosting a conference call at 10:00 A.M. ET on Monday, August 6,
2018, which it is webcasting live at www.jacobs.com.
About Jacobs
Jacobs leads the global professional
services sector delivering solutions for a more connected,
sustainable world. With $15 billion
in fiscal 2017 revenue when combined with full-year CH2M revenues
and a talent force of more than 77,000, Jacobs provides a full
spectrum of services including scientific, technical, professional
and construction- and program-management for business, industrial,
commercial, government and infrastructure sectors. For more
information, visit www.jacobs.com, and connect with Jacobs on
LinkedIn, Twitter, Facebook and Instagram.
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements as such term is defined in Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and such statements
are intended to be covered by the safe harbor provided by the
same. Statements made in this press release that are not
based on historical fact are forward-looking statements. Although
such statements are based on management's current estimates and
expectations, and currently available competitive, financial, and
economic data, forward-looking statements are inherently uncertain,
and you should not place undue reliance on such statements as
actual results may differ materially. We caution the reader that
there are a variety of risks, uncertainties and other factors that
could cause actual results to differ materially from what is
contained, projected or implied by our forward-looking statements.
For a description of some additional factors that may occur that
could cause actual results to differ from our forward-looking
statements see our Annual Report on Form 10-K for the year ended
September 29, 2017, and in particular the discussions
contained under Item 1 - Business; Item 1A - Risk Factors;
Item 3 - Legal Proceedings; and Item 7 - Management's
Discussion and Analysis of Financial Condition and Results of
Operations, and our Quarterly Report on Form 10-Q for the quarter
ended June 29, 2018, and in particular the discussions
contained under Part I, Item 2 - Management's Discussion and
Analysis of Financial Condition and Results of Operations; Part II,
Item 1 – Legal Proceedings; and Part II, Item 1A - Risk Factors, as
well as the Company's other filings with the Securities and
Exchange Commission. The Company is not under any duty to
update any of the forward-looking statements after the date of this
press release to conform to actual results, except as required by
applicable law.
Financial Highlights:
Results of
Operations (in thousands, except per-share
data):
|
|
|
|
|
|
For the Three Months
Ended
|
|
For the Nine Months
Ended
|
|
June 29,
2018
|
|
June 30,
2017
|
|
June 29,
2018
|
|
June 30,
2017
|
Revenues
|
$
|
4,156,663
|
|
|
$
|
2,514,751
|
|
|
$
|
10,842,001
|
|
|
$
|
7,368,922
|
|
Direct cost of
contracts
|
(3,380,254)
|
|
|
(2,055,386)
|
|
|
(8,805,048)
|
|
|
(6,070,961)
|
|
Gross profit
|
776,409
|
|
|
459,365
|
|
|
2,036,953
|
|
|
1,297,961
|
|
Selling, general and
administrative expenses
|
(563,680)
|
|
|
(330,890)
|
|
|
(1,630,294)
|
|
|
(1,012,685)
|
|
Operating
Profit
|
212,729
|
|
|
128,475
|
|
|
406,659
|
|
|
285,276
|
|
Other Income
(Expense):
|
|
|
|
|
|
|
|
Interest
income
|
1,277
|
|
|
2,123
|
|
|
6,896
|
|
|
5,697
|
|
Interest
expense
|
(23,787)
|
|
|
(4,054)
|
|
|
(50,106)
|
|
|
(11,327)
|
|
Miscellaneous income
(expense), net
|
2,564
|
|
|
852
|
|
|
(6,582)
|
|
|
(5,879)
|
|
Total other (expense)
income, net
|
(19,946)
|
|
|
(1,079)
|
|
|
(49,792)
|
|
|
(11,509)
|
|
Earnings Before
Taxes
|
192,783
|
|
|
127,396
|
|
|
356,867
|
|
|
273,767
|
|
Income Tax
Expense
|
(42,712)
|
|
|
(38,767)
|
|
|
(152,302)
|
|
|
(79,820)
|
|
Net Earnings of the
Group
|
150,071
|
|
|
88,629
|
|
|
204,565
|
|
|
193,947
|
|
Net (Earnings) Loss
Attributable to Noncontrolling Interests
|
151
|
|
|
403
|
|
|
(3,593)
|
|
|
5,639
|
|
Net Earnings
Attributable to Jacobs
|
$
|
150,222
|
|
|
$
|
89,032
|
|
|
$
|
200,972
|
|
|
$
|
199,586
|
|
Net Earnings Per
Share:
|
|
|
|
|
|
|
|
Basic
|
$
|
1.05
|
|
|
$
|
0.74
|
|
|
$
|
1.47
|
|
|
$
|
1.65
|
|
Diluted
|
$
|
1.05
|
|
|
$
|
0.74
|
|
|
$
|
1.46
|
|
|
$
|
1.64
|
|
Segment
Information (in thousands):
|
|
|
|
|
|
For the Three Months
Ended
|
|
For the Nine Months
Ended
|
|
June 29,
2018
|
|
June 30,
2017
|
|
June 29,
2018
|
|
June 30,
2017
|
Revenues from External
Customers:
|
|
|
|
|
|
|
|
Aerospace, Technology,
Environmental and Nuclear
|
$
|
1,221,306
|
|
|
$
|
610,643
|
|
|
$
|
3,072,900
|
|
|
$
|
1,815,871
|
|
Buildings,
Infrastructure and Advanced Facilities
|
1,707,072
|
|
|
987,159
|
|
|
4,497,249
|
|
|
2,823,882
|
|
Energy, Chemicals and
Resources
|
1,228,285
|
|
|
916,949
|
|
|
3,271,852
|
|
|
2,729,169
|
|
Total
|
$
|
4,156,663
|
|
|
$
|
2,514,751
|
|
|
$
|
10,842,001
|
|
|
$
|
7,368,922
|
|
|
|
|
|
|
For the Three Months
Ended
|
|
For the Nine Months
Ended
|
|
June 29,
2018
|
|
June 30,
2017
|
|
June 29,
2018
|
|
June 30,
2017
|
Segment Operating
Profit:
|
|
|
|
|
|
|
|
Aerospace, Technology,
Environmental and Nuclear (1)
|
$
|
89,334
|
|
|
$
|
49,383
|
|
|
$
|
217,003
|
|
|
$
|
143,781
|
|
Buildings,
Infrastructure and Advanced Facilities (2)
|
145,901
|
|
|
72,991
|
|
|
347,887
|
|
|
191,680
|
|
Energy, Chemicals and
Resources
|
61,969
|
|
|
45,792
|
|
|
164,759
|
|
|
120,106
|
|
Total Segment Operating
Profit
|
297,204
|
|
|
168,166
|
|
|
729,649
|
|
|
455,567
|
|
Other Corporate
Expenses (3)
|
(33,131)
|
|
|
(28,991)
|
|
|
(110,919)
|
|
|
(55,625)
|
|
Restructuring and Other
Charges
|
(46,922)
|
|
|
(10,700)
|
|
|
(135,156)
|
|
|
(114,666)
|
|
CH2M Transaction
Costs
|
(4,422)
|
|
|
—
|
|
|
(76,915)
|
|
|
—
|
|
Total U.S. GAAP
Operating Profit
|
212,729
|
|
|
128,475
|
|
|
406,659
|
|
|
285,276
|
|
Total Other (Expense)
Income, net (4)
|
(19,946)
|
|
|
(1,079)
|
|
|
(49,792)
|
|
|
(11,509)
|
|
Earnings Before
Taxes
|
$
|
192,783
|
|
|
$
|
127,396
|
|
|
$
|
356,867
|
|
|
$
|
273,767
|
|
|
|
(1)
|
Includes $15.0
million in charges during the nine-month period ended June 29, 2018
associated with a legal matter.
|
|
|
(2)
|
Excludes $22.6
million in restructuring and other charges for the nine months
ended June 30, 2017.
|
|
|
(3)
|
Includes $15.0
million in other corporate charges associated with a certain
project for the three months ended June 29, 2018.
|
|
|
(4)
|
Includes amortization
of deferred financing fees related to the CH2M acquisition of $0.5
million and $1.2 million for the three and nine months ended
June 29, 2018, respectively. Also includes $1.2 million of
restructuring and other expenses for the nine months ended June 30,
2017.
|
Other
Operational Information (in thousands):
|
|
|
|
Nine Months
Ended
|
|
June 29,
2018
|
|
June 30,
2017
|
Depreciation
(pre-tax)
|
$
|
88,715
|
|
|
$
|
52,718
|
|
Amortization of
Intangibles (pre-tax)
|
$
|
58,495
|
|
|
$
|
34,891
|
|
Pass-Through Costs
Included in Revenues
|
$
|
2,198,197
|
|
|
$
|
1,861,615
|
|
Capital
Expenditures
|
$
|
(63,408)
|
|
|
$
|
(73,552)
|
|
Balance Sheet
(in thousands):
|
|
|
June 29, 2018
(Unaudited)
|
|
September 29,
2017
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
824,370
|
|
|
$
|
774,151
|
|
Receivables
|
3,463,697
|
|
|
2,102,543
|
|
Prepaid expenses and
other
|
187,978
|
|
|
119,486
|
|
Total current
assets
|
4,476,045
|
|
|
2,996,180
|
|
Property, Equipment and
Improvements, net
|
471,104
|
|
|
349,911
|
|
Other Noncurrent
Assets:
|
|
|
|
Goodwill
|
5,955,048
|
|
|
3,009,826
|
|
Intangibles,
net
|
680,664
|
|
|
332,920
|
|
Miscellaneous
|
968,951
|
|
|
692,022
|
|
Total other noncurrent
assets
|
7,604,663
|
|
|
4,034,768
|
|
|
$
|
12,551,812
|
|
|
$
|
7,380,859
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Notes
payable
|
$
|
8,964
|
|
|
$
|
3,071
|
|
Accounts
payable
|
1,072,057
|
|
|
683,605
|
|
Accrued
liabilities
|
1,455,266
|
|
|
939,687
|
|
Billings in excess of
costs
|
559,898
|
|
|
299,864
|
|
Total current
liabilities
|
3,096,185
|
|
|
1,926,227
|
|
Long-term
Debt
|
2,336,473
|
|
|
235,000
|
|
Other Deferred
Liabilities
|
1,066,237
|
|
|
732,281
|
|
Commitments and
Contingencies
|
|
|
|
Stockholders'
Equity:
|
|
|
|
Capital
stock:
|
|
|
|
Preferred stock, $1 par value, authorized - 1,000,000 shares;
issued and outstanding - none
|
—
|
|
|
—
|
|
Common stock, $1 par value, authorized - 240,000,000 shares; issued
and outstanding—141,860,952 shares and 120,385,544 shares as of
June 29, 2018 and September 29, 2017, respectively
|
141,861
|
|
|
120,386
|
|
Additional paid-in
capital
|
2,670,620
|
|
|
1,239,782
|
|
Retained
earnings
|
3,880,886
|
|
|
3,721,698
|
|
Accumulated other
comprehensive loss
|
(728,176)
|
|
|
(653,514)
|
|
Total Jacobs
stockholders' equity
|
5,965,191
|
|
|
4,428,352
|
|
Noncontrolling
interests
|
87,726
|
|
|
58,999
|
|
Total Group
stockholders' equity
|
6,052,917
|
|
|
4,487,351
|
|
|
$
|
12,551,812
|
|
|
$
|
7,380,859
|
|
Backlog (in
millions):
|
|
|
June 29,
2018
|
|
June 30,
2017
|
Aerospace, Technology,
Environmental and Nuclear
|
$
|
8,923
|
|
|
$
|
5,676
|
|
Buildings,
Infrastructure and Advanced Facilities
|
11,265
|
|
|
6,428
|
|
Energy, Chemicals and
Resources
|
7,000
|
|
|
6,452
|
|
Total
|
$
|
27,188
|
|
|
$
|
18,556
|
|
Pro Forma
Figures
In this press release, comparisons of
current quarter results to the historical results of Jacobs and
CH2M on a pro forma basis for fiscal year 2017 were calculated by
using revenue and backlog of the combined Jacobs and CH2M entities
as if the acquisition of CH2M had occurred prior to the historical
period, as adjusted for (i) the deconsolidation of CH2M's
investment in Chalk River as if deconsolidated on October 1, 2016 and (ii) the exclusion of the
revenue and operating results associated with CH2M's MOPAC
project. We believe this information helps provide additional
insight into the underlying trends of our business when comparing
current performance against prior periods. Readers should
consider this information together with a comparison to Jacobs'
historical financial results as reported in Jacobs' filings with
the SEC, which reflect Jacobs-only performance for periods prior to
the closing of the CH2M acquisition on December 15, 2017, and CH2M's historical
financial results as reported in CH2M's filings with the SEC.
Non-GAAP Financial Measures:
In this press
release, the Company has included certain non-GAAP financial
measures as defined in Regulation G promulgated under the
Securities Exchange Act of 1934, as amended. The non-GAAP
financial measures included in this press release are adjusted net
earnings and adjusted EPS.
Adjusted net earnings and adjusted EPS are non-GAAP financial
measures that are calculated by excluding (i) the after-tax costs
related to the 2015 restructuring activities, which included
involuntary terminations, the abandonment of certain leased
offices, combining operational organizations and the co-location of
employees into other existing offices; and charges associated with
our Europe, U.K. and Middle East region, which included write-offs
on contract accounts receivable and charges for statutory
redundancy and severance costs (collectively, the "2015
Restructuring and other items"); (ii) after-tax costs and other
charges associated with restructuring activities implemented in
connection with the CH2M acquisition, which include involuntary
terminations, costs associated with co-locating Jacobs and CH2M
offices, costs and expenses of the Integration Management Office,
including professional services and personnel costs, and similar
costs and expenses (collectively referred to as the "CH2M
Restructuring and other charges"); (iii) transaction costs and
other charges incurred in connection with closing of the CH2M
acquisition, including advisor fees, change in control payments,
costs and expenses relating to the registration and listing of
Jacobs stock issued in connection with the acquisition, and similar
transaction costs and expenses (collectively referred to as "CH2M
transaction costs") and (iv) charges resulting from the revaluation
of certain deferred tax assets/liabilities in connection with U.S.
tax reform. We believe that adjusted net earnings and adjusted EPS
are useful to management, investors and other users of our
financial information in evaluating the Company's operating results
and understanding the Company's operating trends by excluding the
effects of the items described above, which can obscure underlying
trends. Additionally, management uses adjusted net earnings
and adjusted EPS in its own evaluation of the Company's
performance, particularly when comparing performance to past
periods, and believes these measures are useful for investors
because they facilitate a comparison of our financial results from
period to period.
The Company provides non-GAAP measures to supplement U.S. GAAP
measures, as they provide additional insight into the Company's
financial results. However, non-GAAP measures have
limitations as analytical tools and should not be considered in
isolation and are not in accordance with, or a substitute for, U.S.
GAAP measures. In addition, other companies may define
non-GAAP measures differently, which limits the ability of
investors to compare non-GAAP measures of the Company to those used
by our peer companies.
The following tables reconcile the components and values of U.S.
GAAP net earnings and EPS to the corresponding "adjusted" amounts.
For the comparable periods presented below, such adjustments
consist of amounts incurred in connection with the items described
above. Amounts are shown in thousands, except for per-share data:
(note: earnings per share amounts may not add across due to
rounding)
U.S. GAAP
Reconciliation for the third quarter of fiscal 2018 and
2017
|
|
|
|
Three Months
Ended
|
|
June 29,
2018
|
|
U.S.
GAAP
|
|
Effects of
Restructuring
and Other
Charges
|
|
Effects of
CH2M
Transaction
Costs
|
|
Other
Adjustments
|
|
Adjusted
|
Revenue
|
$
|
4,156,663
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4,156,663
|
|
Direct cost of
contracts
|
(3,380,254)
|
|
|
2,576
|
|
|
—
|
|
|
—
|
|
|
(3,377,678)
|
|
Gross profit
|
776,409
|
|
|
2,576
|
|
|
—
|
|
|
—
|
|
|
778,985
|
|
Selling, general and
administrative expenses
|
(563,680)
|
|
|
44,346
|
|
|
4,422
|
|
|
—
|
|
|
(514,912)
|
|
Operating
Profit
|
212,729
|
|
|
46,922
|
|
|
4,422
|
|
|
—
|
|
|
264,073
|
|
Total other (expense)
income, net
|
(19,946)
|
|
|
(466)
|
|
|
933
|
|
|
—
|
|
|
(19,479)
|
|
Earnings before
taxes
|
192,783
|
|
|
46,456
|
|
|
5,355
|
|
|
—
|
|
|
244,594
|
|
Income Tax (Expense)
Benefit
|
(42,712)
|
|
|
(11,129)
|
|
|
(1,483)
|
|
|
5,292
|
|
|
(50,032)
|
|
Net earnings of the
Group
|
150,071
|
|
|
35,327
|
|
|
3,872
|
|
|
5,292
|
|
|
194,562
|
|
Net earnings
attributable to non-controlling interests
|
151
|
|
|
(577)
|
|
|
—
|
|
|
—
|
|
|
(426)
|
|
Net earnings
attributable to Jacobs
|
$
|
150,222
|
|
|
$
|
34,750
|
|
|
$
|
3,872
|
|
|
$
|
5,292
|
|
|
$
|
194,136
|
|
Diluted earnings per
share
|
$
|
1.05
|
|
|
$
|
0.24
|
|
|
$
|
0.03
|
|
|
$
|
0.04
|
|
|
$
|
1.35
|
|
|
Three Months
Ended
|
|
June 30,
2017
|
|
U.S.
GAAP
|
|
Effects of
Restructuring
and Other
Charges
|
|
Adjusted
|
Revenue
|
$
|
2,514,751
|
|
|
$
|
997
|
|
|
$
|
2,515,748
|
|
Direct cost of
contracts
|
(2,055,386)
|
|
|
249
|
|
|
(2,055,137)
|
|
Gross profit
|
459,365
|
|
|
1,246
|
|
|
460,611
|
|
Selling, general and
administrative expenses
|
(330,890)
|
|
|
9,454
|
|
|
(321,436)
|
|
Operating
Profit
|
128,475
|
|
|
10,700
|
|
|
139,175
|
|
Total other expense,
net
|
(1,079)
|
|
|
—
|
|
|
(1,079)
|
|
Earnings before
taxes
|
127,396
|
|
|
10,700
|
|
|
138,096
|
|
Income tax
expense
|
(38,767)
|
|
|
(4,158)
|
|
|
(42,925)
|
|
Net earnings of the
Group
|
88,629
|
|
|
6,542
|
|
|
95,171
|
|
Net earnings
attributable to non-controlling interests
|
403
|
|
|
(249)
|
|
|
154
|
|
Net earnings
attributable to Jacobs
|
$
|
89,032
|
|
|
$
|
6,293
|
|
|
$
|
95,325
|
|
Diluted earnings per
share
|
$
|
0.74
|
|
|
$
|
0.05
|
|
|
$
|
0.79
|
|
Earnings Per
Share:
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
June 29,
2018
|
|
June 30,
2017
|
|
June 29,
2018
|
|
June 30,
2017
|
Numerator for
Basic and Diluted EPS:
|
|
|
|
|
|
|
|
Net income
|
$
|
150,222
|
|
|
$
|
89,032
|
|
|
$
|
200,972
|
|
|
$
|
199,586
|
|
Net income allocated
to participating securities
|
(629)
|
|
|
(904)
|
|
|
(898)
|
|
|
(2,237)
|
|
Net income
allocated to common stock for EPS calculation
|
$
|
149,593
|
|
|
$
|
88,128
|
|
|
$
|
200,074
|
|
|
$
|
197,349
|
|
|
|
|
|
|
|
|
|
Denominator for
Basic and Diluted EPS:
|
|
|
|
|
|
|
|
Weighted average
basic shares
|
142,612
|
|
|
120,429
|
|
|
136,717
|
|
|
120,773
|
|
Shares allocated to
participating securities
|
(597)
|
|
|
(1,223)
|
|
|
(743)
|
|
|
(1,413)
|
|
Shares used for
calculating basic EPS attributable to common stock
|
142,015
|
|
|
119,206
|
|
|
135,974
|
|
|
119,360
|
|
|
|
|
|
|
|
|
|
Effect of dilutive
securities:
|
|
|
|
|
|
|
|
Stock compensation
plans
|
1,014
|
|
|
650
|
|
|
1,028
|
|
|
794
|
|
Shares used for
calculating diluted EPS attributable to common stock
|
143,029
|
|
|
119,856
|
|
|
137,002
|
|
|
120,154
|
|
|
|
|
|
|
|
|
|
Basic
EPS
|
$
|
1.05
|
|
|
$
|
0.74
|
|
|
$
|
1.47
|
|
|
$
|
1.65
|
|
Diluted
EPS
|
$
|
1.05
|
|
|
$
|
0.74
|
|
|
$
|
1.46
|
|
|
$
|
1.64
|
|
|
|
|
|
|
|
|
|
For additional information contact:
Investors:
Jonathan Doros, 214-583-8596
jonathan.doros@jacobs.com
Media:
Lorrie Paul Crum, 303-525-2916
lorrie.crum@jacobs.com
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SOURCE Jacobs Engineering Group Inc.