Jacobs Engr Group Inc Stock Price, News & Analysis

Jacobs (NYSE:J) has announced significant leadership changes. Bob Pragada, the current CEO, will also assume the role of Chair of the Board upon the separation of the company's Critical Mission Solutions and Cyber and Intelligence businesses. This marks Pragada as the fourth Chair in Jacobs' history. Steve Demetriou, the current Chair, will transition to Amentum as their new Executive Chair.

Additionally, Louis Pinkham has been elected as the new Lead Independent Director, replacing Chris Thompson who will move to the Amentum Board. These changes reflect Jacobs' commitment to continued growth and innovation in its core businesses, which generate approximately $16 billion in annual revenue with a workforce of over 60,000 employees.

Jacobs (NYSE:J) has been chosen by King Salman International Airport Development Company to provide concept masterplan validation, detailed masterplan design, runway design, and other services for the King Salman International Airport in Riyadh, Saudi Arabia. The project, part of Saudi Arabia's Vision 2030, will cover an area of 57 square kilometers and include six parallel runways, new terminals, and real estate development.

The airport aims to accommodate up to 100 million passengers annually by 2030. It will prioritize low-carbon design, renewable energy, and technological innovation to achieve LEED Platinum certification. Jacobs and Foster + Partners previously won a competition to design the concept masterplan for the airport.

Jacobs (NYSE:J) has been awarded an extension as program management consultant for the District Department of Transportation's (DDOT) DC Streetcar project. The two-year extension expands Jacobs' scope to include oversight of operations, maintenance, on-site engineering, safety planning, and communications. The 2.4-mile electric streetcar route serves a mixed-use corridor in Washington, D.C., connecting communities and providing an eco-friendly transit option.

The project has seen daily ridership reach up to 3,500 passengers, reviving D.C.'s streetcar history that dates back to the 1880s. Jacobs, ranked No.1 in Program Management by Engineering News-Record, brings its experience from global projects like Expo 2020 Dubai and the Thames Tideway Tunnel to support DDOT in enhancing mobility, connectivity, and economic opportunities along the streetcar corridor.

Amentum, a global engineering and technology solutions provider, is hosting its capital markets day at the New York Stock Exchange. The event will feature presentations from the executive leadership team discussing the company's strategy, financial outlook, and capabilities. Key highlights include:

1. The planned combination with Jacobs Solutions Inc.'s Critical Mission Solutions and Cyber & Intelligence businesses through a Reverse Morris Trust transaction.

2. Post-transaction leadership team: Steve Demetriou (Executive Chair), John Heller (CEO), Travis Johnson (CFO), and Steve Arnette (COO).

3. Projected revenue for fiscal year 2025 of approximately $14 billion.

4. Combined backlog of $47 billion as of September 29, 2023.

5. Focus on advanced engineering and technology solutions for complex missions in science, security, and sustainability.

Jacobs Solutions Inc. (NYSE: J) reported its fiscal Q3 2024 earnings, showcasing strong consolidated margins and record backlog growth in its People & Places Solutions (P&PS) segment. Key highlights include:

- Cash flow from operations: $483 million
- Adjusted EPS from continuing operations: $1.96, up 11% y/y
- Total backlog: $30.6 billion, up 6% y/y
- P&PS backlog: $19.3 billion, up 10.2% y/y
- P&PS operating margin: 10.6% on gross revenue, 15.3% adjusted

The company narrowed its fiscal 2024 adjusted EPS outlook to $7.85-$8.05, representing 10% growth y/y at the mid-point. Jacobs is progressing with its planned separation of Critical Mission Solutions and Cyber & Intelligence businesses, expected to close in September 2024.

Jacobs (NYSE:J) has been selected as Program Manager for the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), a public-private partnership establishing a statewide clean hydrogen hub in California. The project, part of the U.S. Department of Energy's H2Hubs program, aims to accelerate the clean hydrogen economy. Jacobs will lead the Program Management Office, overseeing delivery and integrating project activities across the entire hydrogen lifecycle.

By 2032, the hub is expected to have a hydrogen generation capacity of 190,000 metric tons per year, avoiding 2.5 million metric tons of greenhouse gas emissions annually. The project is forecasted to create over 220,000 new green jobs and save $2.95 billion in healthcare costs annually. ARCHES is set to receive approximately $1.2 billion in DOE funding, with an overall project value of nearly $13 billion.

Jacobs (NYSE: J) has been contracted by Onondaga County, New York, to provide program management services for the county's combined sewer overflow (CSO) abatement and capacity, management, operations, and maintenance programs. The new five-year contract extends Jacobs' long-term role and incorporates their Digital OneWater solutions to improve sewer system performance county-wide.

Key points:

• Jacobs has managed Onondaga County's CSO program since 2008, overseeing 200+ green stormwater infrastructure projects
• The county was one of the first in the U.S. to achieve Federal CSO Consent Order closure
• The new contract includes finalizing the Long-Term Control Plan for CSO abatement and developing a capacity management program
• Jacobs will use its Dragonfly and Argon technologies to review pipe inspection videos and prioritize repairs

Jacobs (NYSE:J) has been awarded the FBI Information Technology Supplies and Support Services 2nd Generation (ITSSS-2) Blanket Purchase Agreement (BPA). This competitive contract, with an $8 billion total ceiling value over eight years, will provide critical IT support to the FBI and the broader Department of Justice. Jacobs will deliver solutions in seven key areas: workplace services, business applications, delivery services, platform services, infrastructure services, emerging technologies, and other IT services.

This award builds on Jacobs' nearly two-decade-long collaboration with the FBI, reinforcing its position as a trusted provider of innovative IT solutions. The contract underscores Jacobs' commitment to enhancing the FBI's mission-critical operations through cutting-edge technologies.

Amentum, a global engineering and technology solutions provider, has announced a capital markets day on August 13, 2024 at 10:00 a.m. EDT at the New York Stock Exchange. The event will showcase Amentum's solutions and capabilities, focusing on the synergies and benefits expected from the previously announced spin-off of Jacobs's (NYSE: J) Critical Mission Solutions and parts of its Divergent Solutions business, including Cyber & Intelligence, which will merge with Amentum.

CEO John Heller and the executive leadership team will discuss Amentum's strategy and financial outlook. A live webcast and presentation materials will be available on Amentum's investor relations website before the event begins.