Jacobs' P&PS Lands A High-Speed Rail Contract In Sweden

By Zacks Investment ResearchStock MarketsMar 08, 2020 09:18PM ET

www.investing.com/analysis/jacobs-pps-lands-a-highspeed-rail-contract-in-sweden-200514488

Jacobs' P&PS Lands A High-Speed Rail Contract In Sweden

By Zacks Investment Research | Mar 08, 2020 09:18PM ET

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Jacobs Engineering Group Inc.’s (NYSE:J) People & Places Solutions (P&PS) business segment has been benefiting from solid contract wins. Recently, the company secured a framework contract from the Swedish Transport Administration (Trafikverket) to provide strategic consultancy services for the new high-speed railway lines planned between Stockholm, Gothenburg and Malmö in Sweden.

Per the contract, Jacobs, via its P&PS business division, will provide technical advice and services across planning, system, design and delivery of the three ongoing projects.

Jacobs’ Contract-Winning Spree Bodes Well

Efficient project execution has primarily been driving Jacobs’ performance over the past few quarters. The company’s ongoing contract wins are a testimony to the fact. Backlog at the end of first-quarter fiscal 2020 grew 11% from the year-ago quarter to $22.7 billion.

Jacobs’ business has been gaining strength on the back of solid contract wins. On Mar 5, 2020, the company won an architecture and engineering design contract from the U.S. Army Corps of Engineers for the Korea Air Operations and Intelligence Center.

On Feb 26, 2020, the company’s P&PS segment was selected by the U.S. Army Corps of Engineers Mobile District to deliver architect and engineering services for the latter’s Environmental Quality Program in South Atlantic Division.

Again, on Feb 12, 2020, the company was selected for four Lots on Network Rail's prestigious Design Services Framework to provide multi-disciplinary technical and professional services in the U.K.

Jacobs’ P&PS business — which accounted for almost 65% of total revenues in first-quarter fiscal 2020 — serves clients of broad sectors like water, transportation, building and semiconductors. The segment has been a major growth driver of its revenues. Recently, the company reported strong results in the fiscal first quarter on the back of solid segmental performance, acquisitions and cost synergies. Meanwhile, P&PS backlog was up 7.7% year over year in the quarter to $14.2 billion.

Overall, Jacobs — which shares space with AECOM (NYSE:ACM) , KBR, Inc. (NYSE:KBR) and Fluor Corporation (NYSE:FLR) in the Zacks Engineering - R and D Services industry — is poised to benefit from strong backlog, inorganic moves and transformed portfolio. It is also likely to gain from its increased focus on infrastructure, aerospace, cybersecurity and technical building projects.

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Jacobs' P&amp;PS Lands A High-Speed Rail Contract In Sweden

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