Jacobs’ Shares Surge on Q1 Earnings

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Shares in Jacobs Engineering Group Inc. gained nearly 6 percent Tuesday after the engineering and consulting firm reported solid gains in revenues and profit for its first quarter.


Jacobs reported that net income in the quarter ended Dec. 31 climbed to $98.4 million (79 cents per share), a 61-percent hike from $61.3 million (51 cents per share), from the same period a year earlier.


The first-quarter results included a $5.4 million gain (4 cents per share), from the sale of an investment, the company said in a statement.


Analysts, who typically exclude such items, expected profit of 70 cents per share, according to a poll by Thomson Financial.


Revenues for the Pasadena-based firm rose 25 percent to $2.5 billion, exceeding Wall Street’s estimates of $2.4 billion.


Jacobs’ backlog also increased 44 percent to $15 billion.


Shares in Jacobs added 5.5 percent to $78.30 in afternoon trading Tuesday on the New York Stock Exchange. Jacobs has added 91 percent so far this year.

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