It is really no surprise that large engineering and construction companies are reporting uninspiring trailing growth these days. Refineries, highways, and manufacturing plants do not get built overnight and the panic that spread through the markets in 2008 held up a lot of contracts because of economic and funding concerns. The question for companies like Jacobs Engineering (NYSE:JEC), then, is how quickly business can get back to normal.
A Sluggish End to a Tough Year
Jacobs ended its fiscal 2010 with something of a whimper. Revenue for the fourth quarter was down 8% on a year-over-year basis, while full-year revenue fell about 14% on a reported basis. That quarterly number was also about 8% shy of the average analyst guess, though, so there could be some risk of modest downward revisions (and all the attendant negative near-term momentum that can produce).
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http://stocks.investopedia.com/stock-analysis/2010/Jacobs-Still-Looking-To-Build-That-Ladder-JEC-FLR-CBI-MDR-XOM-RDS.A-PFE1118.aspx
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