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Jacobs Engineering Lifts FY19 Adj. EPS View

Jacobs Engineering Group Inc. (JEC) increased fiscal 2019 adjusted earnings per share outlook to a range of $5.10 to $5.50 from $5.00 to $5.40, assuming full-year ECR. Analysts polled by Thomson Reuters expect the company to report earnings of $5.23 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

The company continues to expect the sale of its Energy, Chemicals and Resources (ECR) business to close by June 30th.

The company said, "Looking forward our transformed portfolio is well positioned to further expand margins and we continue to expect $920 million to $1 billion in adjusted EBITDA, excluding the ECR results for fiscal 2019."

The company plans to present its new strategy at its investor day on February 19, 2019, including additional details on the timing and scope of the previously announced $1 billion share repurchase authorization.

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