DALLAS - Jacobs (NYSE: J), a global provider of technical professional services with a market capitalization of $16.8 billion and a solid financial health rating according to InvestingPro, has been awarded a multiple award task order contract by the Omaha District of the U.S. Army Corps of Engineers (USACE). The contract, valued at $249 million, will see Jacobs deliver architecture and engineering services to support environmental projects across the Northwestern (NASDAQ:NWE) Division of USACE, which includes the contiguous U.S., Alaska, Hawaii, and outlying areas.
The contract, which commenced on October 1, 2024, spans a five-year period with the possibility of a two-year extension for task orders. Jacobs' role will encompass a range of services such as environmental response, compliance studies, documentation under the National Environmental Policy Act, and support during remedial construction activities.
Jacobs Senior Vice President Susannah Kerr stated that the contract enables the company to continue its mission-aligned work with the Omaha District, providing environmentally responsive solutions. This new contract builds upon Jacobs' existing relationship with USACE, adding to the 15 selections and contract awards Jacobs has secured in 2024, collectively exceeding $2 billion in total capacity.
The company is recognized for its leadership in government office design and hazardous waste management, ranking first in both categories, and holds strong positions in chemical & soil remediation and site assessment & compliance, according to 2024 rankings by Engineering News-Record.
Jacobs emphasizes its commitment to contributing to safer, cleaner, and more prosperous communities through its work with government agencies on national security infrastructure and resiliency projects. With an annual revenue of approximately $12 billion and a global team nearing 45,000, Jacobs offers comprehensive services across various sectors including advanced manufacturing, cities & places, energy, environmental, life sciences, transportation, and water.
This announcement is based on a press release statement and includes forward-looking statements subject to various risks and uncertainties. Factors such as economic conditions, legislative changes, and global market dynamics could influence the company's actual results and are detailed in Jacobs' filings with the Securities and Exchange Commission. For comprehensive analysis including Fair Value estimates, financial health metrics, and additional ProTips, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks including Jacobs.
In other recent news, Jacobs Engineering Group Inc (NYSE:J). has seen significant developments. The company reported fourth-quarter earnings of $1.37 per share and revenue of $3 billion, slightly below analyst estimates. However, a strong 22.5% year-over-year backlog growth to $21.8 billion signals potential for future revenue. Goldman Sachs resumed coverage on Jacobs with a Neutral rating and a price target of $150, while RBC Capital maintained an Outperform rating with a revised price target of $152. Baird also increased the price target from $147 to $149, maintaining an Outperform rating.
Jacobs has secured management of the Coquitlam Lake Water Supply Project in British Columbia. This major infrastructure project aims to expand access and treatment of water from Coquitlam Lake, a primary source for the area's 2.7 million residents. The company is also partnering with AECOM to upgrade the Iona Island Wastewater Treatment Plant in Vancouver, a project expected to serve nearly one million residents by 2051.
Jacobs has completed the spinoff of its Critical Mission Solutions business, a move expected to enhance operational efficiency. Looking ahead, Jacobs' fiscal 2025 guidance estimates adjusted earnings per share to be between $5.80 and $6.20, with mid-to-high single digit revenue growth and an adjusted EBITDA margin of 13.8% to 14%. These recent developments are shaping Jacobs Engineering's strategy and performance.
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