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Jacobs Engineering Turns To Profit In Q4; Sees Growth In FY20 Adj. EBITDA

Professional services provider Jacobs Engineering Group, Inc. (JEC) on Monday reported that its fourth-quarter net earnings attributable to the company were $142.32 million, compared to last year's loss of $37.54 million. Earnings per share were $1.04, compared to loss of $0.26 last year.

Net earnings from continuing operations were $22 million or $0.16 per share, compared to loss of $77 million or $0.54 per share a year ago.

Adjusted net earnings from continuing operations were $201 million or $1.48 per share, compared to prior year's $165 million or $1.14 per share.

On average, analysts polled by Thomson Reuters expected earnings of $1.32 per share. Analysts' estimates typically exclude special items.

Revenue for the period grew 13 percent to $3.4 billion from $3.0 billion last year. Net Revenue increased 15 percent to $2.7 billion from prior year's $2.3 billion.

Looking ahead, for fiscal 2020, the company expects adjusted EBITDA of $1.05 billion to $1.15 billion, representing double-digit growth for adjusted EBITDA and earnings per share from the year 2019.

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