Positive Q1 buoys Jacobs Engineering Group
By Sarah Ann McCay24 January 2013
US engineering and construction firm Jacobs Engineering Group Inc. has announced a year-on-year increase on net earnings after posting its financial results for the first quarter of fiscal 2013 ended December 28, 2012.
Net earnings for Q1 2013 stood at US$ 99 million on revenues of US$ 2.76 billion compared with net earnings of US$ 89.7 million on revenues of US$ 2.63 billion for the first quarter of fiscal 2012.
Backlog for the company also grew, up +11.8% to total US$ 16.2 billion as at December 28, 2012. This compared to a total backlog of US$ 14.5 billion for the same period in fiscal 2012.
Jacobs’ president and CEO Craig L. Martin is confident of further growth in 2013. He said: “The business is doing well. Operating performance and cost control are both good and our backlog continues to grow. We see continuing growth in a number of key markets and multiple opportunities for increasing market share. Our outlook for fiscal 2013 remains very positive.”