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Manny Fernandez has been elected to Jacobs' Board of Directors, effective October 5, 2020. After over 36 years at KPMG, where he led significant teams and worked with major clients, Fernandez brings extensive expertise in business operations, mergers, and talent management. His emphasis on diversity aligns with Jacobs' culture, which features a board composition that is 50% female or ethnically diverse. Jacobs, a leader in professional services with $13 billion in revenue, aims to tackle global challenges with innovative solutions.
Jacobs achieves a significant milestone with the U.S. Air Force Life Cycle Management Center, completing the flight campaign for its KeyRadar® product integrated into the AgilePod® system. This certification marks the first time the pod has been deemed airworthy for flight testing on commercially operated aircraft under FAA criteria. The collaboration has enhanced Jacobs' ISR and target detection capabilities, leveraging advanced software-defined technology. Jacobs, boasting $13 billion in revenue and over 55,000 employees, continues to innovate in defense and intelligence solutions.
Jacobs (NYSE:J) has been appointed to the Technical Advisor Framework by Highways England, aimed at enhancing capital road projects under the Roads Investment Strategy (RIS) 2. This framework, valued at over $1.27 billion (£1 billion), spans six years and is designed to improve the safety and reliability of England's strategic road network. Donald Morrison, Senior Vice President at Jacobs, emphasized their readiness to support project success through comprehensive evaluations and technical assurance.
Jacobs Engineering Group reported Q3 2020 financial results with gross revenue of $3.3 billion, a 2.9% increase year-over-year. Net revenue decreased by 4% to $2.7 billion. The company achieved an EPS of $1.73, up from $0.65 in Q3 2019. Adjusted EPS was $1.26, down from $1.40, reflecting a $28 million decline in adjusted net earnings. Backlog increased by $1.2 billion to $23.7 billion. Jacobs revised its FY 2020 outlook, expecting adjusted EBITDA of $1 billion to $1.05 billion and adjusted EPS of $5.05 to $5.30.
Jacobs (NYSE:J) has partnered with Australian rail group John Holland to provide design and construction services for the More Trains, More Services project in Sydney, valued at approximately $195 million AUD. This initiative aims to upgrade critical infrastructure along the T4 Illawarra, T8 Airport, and South Coast lines, enhancing reliability and service frequency for commuters. Construction is expected to begin mid-2020, ahead of improvements slated for late 2022. The project is part of the New South Wales Government's modernization program over the next decade.
On July 20, 2020, Jacobs (NYSE:J) announced the development of a new COVID-19 modeling software utilizing probabilistic techniques and various datasets to aid clients in assessing virus propagation and implementing safety measures. This model supports decision-making for public transportation and capital projects, allowing clients to explore different scenarios. It has been reviewed by the University of Cambridge and is already assisting Network Rail High Speed in the U.K. The company's revenue stands at $13 billion with over 55,000 employees.
Jacobs (NYSE:J) has launched a new online platform called Jacobs' Virtual Event Space, enhancing its public engagement solutions. This interactive platform allows clients to connect with stakeholders remotely, adapting to the challenges posed by recent restrictions on in-person meetings. The Virtual Event Space facilitates a range of activities, including public consultations and exhibitions, all designed to foster stakeholder participation from home. It promises greater inclusivity and faster delivery of events while aligning with sustainability goals.