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Jacobs Engineering Raises Dividend by 11%

Jacobs Engineering Group Inc. (J) is a leading provider of professional services, including consulting, technical, scientific, and project delivery for both the government and private sector.

The company generated 62% of its revenue from People & Places Solutions and 38% of its revenue from People & Places Solutions during its fiscal first quarter. In terms of services within these divisions, the company generated most (72%) of its revenue from technology and consulting, 19% from pass-through revenue, and 9% from project delivery services.

Mixed Financial Results

Jacobs Engineering Group reported revenue that rose 0.6% to $3.38 billion, narrowly missing consensus estimates by $20 million, but non-GAAP earnings of $1.41 per share, beating consensus estimates by $0.12 per share. The company also raised the bottom end of its revenue and adjusted earnings per share outlook.

With robust cash flow in place, the company is well positioned to continue delivering value to shareholders through dividends and accelerate alignment to a diverse set of high-value sectors.

The company raised its quarterly dividend by 10.5% to $0.21 per share, which represents a 0.75% forward yield. The dividend is payable on March 26, 2021 to shareholders on record as of February 26, 2021.

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