FMP
Jacobs Reports Q4 Beat, While Guidance Misses
Nov 22, 2022 9:42 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Jacobs (NYSE:J) reported its Q4 results yesterday, with EPS of $1.80 coming in better than the Street estimate of $1.78. Revenue was $3.9 billion, beating the Street estimate of $3.8 billion.
Analysts at RBC Capital believe the company remains well positioned over the medium term given the demand tailwinds across its segments. The analysts lowered their price target to $150 from $155 while reiterating their Outperform rating.
While Q4 results were largely in line with expectations, the share price reaction yesterday (down nearly 3%) appears to be driven by the fiscal 2023 outlook. The company expects 2023 EPS to be in the range of $7.20-$7.50, compared to the Street estimate of $7.66.
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