Jacobs Reports Fiscal Fourth-Quarter Earnings

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Jacobs Engineering Group has announced its financial results for the fiscal fourth quarter and fiscal year ended Sept. 27, 2019. Q4 2019 revenue of $3.4 billion grew 13% year-over-year, up 15% on a net revenue basis.

In FY19 the company continues its portfolio transformation with the completion of the sale of ECR, a $903 million acquisition of KeyW, and the announcement of the approximately $300 million pending acquisition of Wood Nuclear PLC.

The fiscal year saw revenue growth of 20% and pro forma net revenue growth of 11%, with operating profit growth of 4% and adjusted EBITDA growth of 22%.

The launch of a new brand helped to drive growth and further the strategic transformation, with a renewed emphasis on innovative thinking and exploration, along with a celebration of Jacobs’ inclusive and diverse perspectives. The brand launch culminates the firm’s transition from engineering and construction to a global technology-forward solutions company, resulting both in a planned name change for the company to Jacobs Solutions Inc. and an NYSE stock ticker symbol change to “J”.

Jacobs’ lines of business are also changing names to better reflect outcome-focused solutions for their customers: Aerospace, Technology and Nuclear is changing to Critical Mission Solutions, and Buildings, Infrastructure and Advanced Facilities is changing to People & Places Solutions.

Also in fiscal 2019, the company updated its strategy and financial targets, completed the divestiture of its energy, chemicals and resources business, wrapped the the acquisition of Key, and announced its acquisition of Wood’s nuclear business.

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