Home Equities Score Why Jacobs Engineering Group Inc (J) stock slid down on Tuesday?

Why Jacobs Engineering Group Inc (J) stock slid down on Tuesday?

Jacobs Engineering Group Inc. (J) shares declined 6.32% further in the after-market on Tuesday, May 18, 2021. Earlier J’s stock lost 2.54% to close Tuesday’s normal session at $135.57. J shares have soared 75.22% over the last 12 months, and they have moved down 3.26% in the past week. Over the past three months, the stock has gained 20.18%, while over the past six months, it has risen 31.28%.

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Let’s see what’s going on recently with Jacobs Engineering?

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Jacobs selected by NDA for an asset management role

On May 18, 2021, Jacobs engineering was awarded a four-year contract to provide asset management solutions to the Nuclear Decommissioning Authority (NDA), the public body in charge of cleaning up legacy facilities in the U.K.

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The NDA is responsible for decommissioning 17 nuclear sites across England, Wales, and Scotland, some dating back to the 1940s. Jacobs and its strategic supplier, PA Consulting, will support the NDA on the implementation of its asset management strategy.

US Government Accountability Offices renovation contract

On May 13, 2021, Jacobs engineering said that it has won a new multi-disciplinary architecture and engineering (AE) service contract for the U.S. Government Accountability Office (GAO).

The $25 million contract is to renovate and upgrade the GAO’s headquarters in Washington D.C., as well as the agency’s field offices in 11 cities across the country in a year time.

“With this new contract, we can expand on a proven track record of work

American Planning Association Awards

On May 12, 2021, Jacobs won three awards from The American Planning Association (APA) Federal Planning Division (FPD). The awards were given during the May 12, 2021, virtual awards ceremony as part of the FPD portion of the APA Conference.

Jacobs won the citation award for Hurricane Michael Recovery Project and won the Merit award in the planning category for The Storm Water Pollution Prevention Plan for U.S. Army Garrison (USAG) Rheinland-Pfalz, Germany

The third award was the Honor award which Jacobs won for The Kadena Industrial Park (Chibana District) Area Development Plan (ADP), in Okinawa Prefecture, Japan.

Financial results

On May 10, 2021, Jacobs Engineering Group Inc reported its financial results for the fiscal second quarter ended April 2, 2021.

Q2 2021 financial highlights

  • Jacobs Engineering reported revenue of $3.5 billion for the 2nd quarter of 2021 compared with $3.4 billion in Q2 2020.
  • In Q2 2021, GAAP Net Loss from Continuing Operations was $0.00 compared to $122 million in Q2 2020.
  • GAAP Loss Per Diluted Share (EPS) from Continuing Operations was $0.00 in Q2 2021 compared to $0.92 in Q2 2020.
  • Adjusted Net Earnings from Continuing Operations were $218 million in Q2 2021 compared to $186 million in Q2 2020.
  • Adjusted EPS from Continuing Operations was $1.66 in Q2 2021 compared to $1.39 in Q2 2020.

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Conclusion

Well, as of this writing there is no such news which we can link with its loss on Tuesday. We had some latest positive news which we have discussed above and in our opinion, the J stock price should go up but it went down which is quite strange.

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