Jacobs Engineering Group Inc. (NYSE:JEC) eked higher on the release of fourth-quarter financial numbers.
The Dallas-based Jacobs showed Q4 2019 revenue of $3.4 billion,, a figure which grew 13% year-over-year; up 15% on a net revenue basis.
Q4 2019 Earnings Per Share came in at $0.16 and adjusted EPS of $1.48, up 29% on an adjusted basis year-over-year
What’s more, executed accelerated share repurchase of $250 million during Q4 to be completed in December 2019
The company also aid $390 million in cash taxes reflected in cash flow from operations related to the $935 million gain on the Q3 close of $3.4-billion sale of Energy, Chemicals and Resources business.
Jacobs launched its new brand globally Monday, culminating its 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".
Trading under this symbol will be effective Dec. 10. 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.
These name changes have no impact on reported financials, line of business leadership or customer relationships.
CEO Steve Demetriou said, "Our team has demonstrated strong execution by exceeding our three-year revenue and operating profit guidance that was established at our inaugural investor day in 2016. Our transformed portfolio is well aligned to major secular growth trends such as environmental resiliency, IT/OT convergence and national security."
Shares in JEC picked up 29 cents to $93.77
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