SAN JUAN - Jacobs (NYSE:J), a global provider of technical professional services, has been selected to offer architecture and engineering consulting for capital improvements at Luis Muñoz Marín International Airport in San Juan, Puerto Rico. The announcement was made today, with the project aimed at modernizing the facility, enhancing its resilience, and addressing the increase in passenger and aircraft traffic.
The airport, which handles over 90% of Puerto Rico's passenger volume and serves as a crucial Caribbean hub, will see Jacobs contribute to various development efforts. These include airfield and landside infrastructure improvements, as well as resilience initiatives to mitigate the impacts of climate change.
Chrissy Thom, Jacobs Senior Vice President, highlighted the importance of preparing for future challenges, citing a 40% passenger growth over the past decade and the changing climate's effects on the island. The firm's role will encompass support for taxiway reconstructions, runway improvements, sustainability efforts, and the implementation of a pavement management system, along with grant management, planning, design, and construction oversight.
Jacobs, ranked second in Transportation by Engineering News-Record, has a history of involvement in significant infrastructure projects worldwide. The company's work spans various sectors, including transportation, advanced manufacturing, cities and places, energy, environmental, life sciences, and water.
The press release also contained forward-looking statements regarding Jacobs' expectations and estimates for future projects and market conditions. These statements are subject to a range of factors that could influence the company's business outcomes.
This news is based on a press release statement and provides an overview of Jacobs' engagement in the capital improvement program at Luis Muñoz Marín International Airport.
In other recent news, Jacobs Engineering Group Inc (NYSE:J)., in a joint venture with Seymour Whyte, has been selected by Sydney Water for a significant infrastructure project in Western Sydney. This project, known as the Upper South Creek Networks (USCN) Program, involves the construction of wastewater services to support the region's expansion. In addition to this, Jacobs has secured contracts to provide engineering design services for CG Semi Private Limited's new semiconductor facility in India and to operate and maintain a new advanced water purification facility for the Soquel Creek Water District in California.
Furthermore, Jacobs has been awarded a five-year contract with Lincoln-Sewer Management District 1 Wastewater Authority in California to enhance wastewater services. Following these developments, RBC Capital upgraded Jacobs Engineering's stock target. The company reported an 11% year-over-year increase in adjusted earnings per share and a 6% rise in consolidated backlog.
Jacobs also finalized a spin-off and merger with Amentum Holdings, resulting in a cash payment of approximately $0.9 billion. The company has been selected to upgrade three Long Island Rail Road stations, a project valued at $227.5 million. These are the recent developments in Jacobs Solutions' operations.
InvestingPro Insights
Jacobs' selection for the Luis Muñoz Marín International Airport project aligns with its strong position in the Professional Services industry, as highlighted by InvestingPro data. The company's market cap of $17.59 billion underscores its significant presence in the sector.
InvestingPro Tips reveal that Jacobs has raised its dividend for 6 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by a current dividend yield of 0.82% and an impressive dividend growth of 11.54% over the last twelve months. These figures suggest financial stability, which is crucial for long-term infrastructure projects like the airport improvement in Puerto Rico.
The company's revenue of $16.95 billion in the last twelve months, with a 6.3% growth, indicates a robust business pipeline. This growth is particularly noteworthy given that analysts anticipate a sales decline in the current year, according to another InvestingPro Tip. The airport project could potentially help offset this projected decline.
Jacobs' operating income margin of 7.05% and EBITDA of $1.48 billion reflect its ability to manage large-scale projects efficiently. This financial health is crucial for undertaking complex, long-term infrastructure improvements such as those planned for the San Juan airport.
Investors might also be interested to know that Jacobs has shown a strong return over the last month, with a 16.7% price total return. This recent performance, coupled with the company's low price volatility, could make it an attractive option for investors looking for stability in the infrastructure sector.
For those interested in a deeper dive into Jacobs' financials and prospects, InvestingPro offers additional tips and insights that could be valuable for investment decision-making.
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