Exhibit 99.1

Press Release

Jacobs Engineering Group Inc. Reports Earnings for the First Quarter of Fiscal 2017

DALLAS, TEXAS - Jacobs Engineering Group Inc. (NYSE:JEC) today announced its financial results for the first quarter of fiscal 2017 ended December 30, 2016.

First Quarter Fiscal 2017 Highlights:

Jacobs’ reported U.S. GAAP net earnings of $61 million, or $0.50 per share, on revenue of $2.6 billion for the first quarter ended December 30, 2016.  This compares to U.S. GAAP net earnings of $47 million, or $0.38 per share, on revenues of $2.8 billion for the first quarter ended January 1, 2016.  

Jacobs’ first quarter 2017 results include approximately $23 million, or $0.18 per share, in after-tax costs related to certain restructuring activities that began during fiscal 2015 (the "2015 Restructuring").  Our first quarter 2016 results included approximately $48 million, or $0.40 per share, in charges related to these activities.

Excluding the restructuring items above, Jacobs’ first quarter 2017 adjusted net earnings totaled $83 million, or $0.68  per share, as compared to $95 million, or $0.78 per share, from the corresponding period for 2016.  Our U.S. GAAP and adjusted results for first quarter 2016 included a one-time tax-related item of $11 million, or $0.09 per share.

Total backlog was $18.1 billion at December 30, 2016, including a professional services component of $12.2 billion, as compared to total backlog of $18.2 billion and a professional services component of $11.4 billion for the corresponding period last year.  On a sequential basis, gross margin associated with our Q1 backlog moderately improved from our Q4 FY16 levels.

The Company’s cash flow from operations was $105 million in the first quarter due mainly to improvements in working capital levels.  Additionally, during the quarter, we repurchased 0.6 million shares of common stock at a total cost of $30 million.

Commenting on the results for the first quarter 2017, Steve Demetriou, Jacobs Chairman and CEO said, "This quarter marked our transition from nearly two years of significant cost restructuring and organizational realignment to a priority focus on profitable top-line growth.  Although revenue continued to be pressured by prior year market challenges, we are pleased with the strong sales bookings during the quarter and the robust pipeline of opportunities that fit our skill sets and strategy. The continuing growth in our higher margin professional services backlog, the largest reported in 21 months,

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demonstrates the benefits of our disciplined approach on leveraging synergies across the company to drive more profitable work.  Additionally, this success in winning front end engineering opportunities positions us well for full service delivery in subsequent phases of the projects."

Outlook

Kevin Berryman, Jacobs CFO, added, "The continuing positive trends in unit margins, cash flows, and working capital reflect the cultural change and added financial rigor we are seeing at Jacobs.  While our outlook for the year remains unchanged, we are committed to enhancing shareholder value and are very pleased to return excess capital to our shareholders in the form of our inaugural $0.15 quarterly dividend that was recently announced, as well as the continuation of our share repurchase program."

The Company also notes that as discussed in the footnote in the accompanying balance sheet, an adjustment was made to correct an error in translation rates used in reporting U.S. Dollar goodwill values held by foreign subsidiaries in its September 30, 2016 Consolidated Balance Sheet.  These adjustments had no impact on the Company’s Consolidated Statements of Earnings or Cash Flows.  

Jacobs is hosting a conference call at 10:00 A.M. Eastern Time on Wednesday, February 8, 2017, which it is webcasting live on the internet at www.jacobs.com .

Jacobs is one of the world's largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally. The company employs over 54,000 people and operates in more than 25 countries around the world. For more information, visit www.jacobs.com

Statements made in this press release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. For a description of some of the factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the period ended September 30, 2016, and in particular the discussions contained under Item 1 -  Business ; Item 1A - Risk Factors ; Item 3 -  Legal Proceedings ; and Item 7 -  Management's Discussion and Analysis of Financial Condition and Results of Operations , as well as the Company’s other filings with the Securities and Exchange Commission. We also caution the readers of this release that we do not undertake to update any forward-looking statements made in this release.

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Financial Highlights:

Results of Operations (in thousands, except per-share data):

Segment Information (in thousands):

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Other Operational Information (in thousands):

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Balance Sheet (in thousands):

At December 30, 2016 and September 30, 2016

During the first quarter of fiscal 2017, the Company determined that its prior year financial statements contained immaterial misstatements related to incorrect translation rates used in reporting U.S. Dollar values of goodwill held by foreign subsidiaries. Accordingly, the Company recorded adjustments in the current quarter to correct the carrying values of these accounts.  Goodwill and accumulated other comprehensive income in the Company’s September 30, 2016 Consolidated Balance Sheet (which have not been adjusted) were each overstated by $209.9 million.  These adjustments had no impact on the Company’s Consolidated Statements of Earnings or Cash Flows.

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Backlog (in millions):

Non-U.S. GAAP Financial Measures:

In this press release, the company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended.  The non-GAAP financial measures included in this press release are adjusted net earnings, adjusted EPS and adjusted selling, general, and administrative (“G&A”) expenses.

Adjusted net earnings and adjusted EPS are non-GAAP financial measures that are calculated by excluding the after-tax costs related to the 2015 Restructuring activities, which are not considered by management to be part of the company’s ordinary operations.  Adjusted G&A expense is calculated by excluding the pre-tax costs related to the 2015 Restructuring.  We believe that the adjusted net earnings, adjusted EPS and adjusted G&A expense measurements are useful to management, investors and other users of our financial information in evaluating the company’s operating results and understanding the company’s operating trends by excluding the effects of the 2015 Restructuring, which can obscure underlying trends.  Additionally, management uses adjusted net earnings, adjusted EPS, and adjusted G&A expenses in its own evaluation of the company’s performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period.  

The company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the company’s financial results.  However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures.  In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the company to those used by our peer companies.

The following tables reconcile the U.S. GAAP values of net earnings, EPS and G&A expenses to the corresponding "adjusted" amounts. For the comparable periods presented below, such adjustments consist of amounts incurred in connection with the 2015 Restructuring. Amounts are shown in thousands, except for per-share data:

U.S. GAAP Reconciliation for the first quarter of fiscal 2017 and 2016:

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For additional information contact:

Kevin C. Berryman

Executive Vice President and Chief Financial Officer

214-583-8500

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