Jacobs Engineering Q1 profit beats Wall Street view

* Maintains FY EPS view of $2.00-$2.60

* Q1 EPS $0.62 vs est $0.58

* Revenue drops 23 pct to $2.48 bln

Jan 26 (BestGrowthStock) – Construction services firm Jacobs
Engineering Group Inc (JEC.N: ) on Monday reported a
better-than-expected quarterly profit, helped by cost controls,
and maintained its full-year earnings outlook.

For the first quarter ended Jan. 1, net income was $72.4
million, or 58 cents a share, compared with $116.4 million, or
94 cents a share, a year ago. The latest-quarter results
included a charge of 4 cents a share.

Revenue fell 23 percent to $2.48 billion.

Analysts on average expected earnings of 58 cents a share,
on revenue of $2.48 billion, according to Thomson Reuters
I/B/E/S.

Selling, general, and administrative expenses fell 8
percent to $235.7 million.

The company, which caters to industrial, commercial, and
government clients, maintained its full-year earnings outlook
of $2.00 to $2.60 a share.

Analysts were expecting earnings of $2.36 a share for the
period.

Shares of the Pasadena, California-based company closed at
$39.95 Monday on the New York Stock Exchange.
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(Reporting by Fareha Khan in Bangalore; Editing by Vinu
Pilakkott)

Jacobs Engineering Q1 profit beats Wall Street view