Jacobs Engineering Guides Q4 Adj. EPS Below Estimates - Update

(RTTNews) - While reporting financial results for the third quarter on Monday, professional services provider Jacobs Engineering Group Inc. (JEC) provided its adjusted earnings outlook for the fourth quarter and reiterates its full-year 2022 outlook.

For the fourth quarter, the company now expects adjusted earnings in a range of $1.75 to $1.85 per share and adjusted EBITDA in a range of $340 million to $360 million.

On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $1.94 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2022, the company had initiated guidance for adjusted earnings in the range of $6.85 to $7.45 per share and adjusted EBITDA between $1.37 billion and $1.45 billion in November. Since then, FX translation has impacted the outlook for adjusted EPS by 20 cents and adjusted EBITDA by $40 million.

On a constant currency basis, the mid-point of our latest full year outlook remains consistent with the original guidance provided at the beginning of the fiscal year.

The Street is looking for earnings of $7.06 per share for the year.