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Jacobs (J) Wins ITER First Plasma REMS Contract, Boosts Backlog
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Jacobs Engineering Group Inc. (J - Free Report) received a contract from Fusion for Energy (“F4E”) to design and deliver a key safety system for ITER — First Plasma Radiological Environmental Monitoring System (REMS). F4E estimated the contract for final design, procurement, installation and commissioning at $4.2 million.
F4E reselected Jacobs as its principal supplier of instrumentation and control systems support for ITER's upcoming nuclear safety needs in a separate framework contract. The said contract is estimated at a maximum value of $10.6 million and will be carried out for the next seven years. Jacobs will offer technical specifications and help F4E manage project delivery and acceptance of systems.
Jacobs’ Energy, Security and Technology senior vice president, Karen Wiemelt, said, "We aim to bring together the best equipment suppliers from across Europe with Jacobs, to deliver a robust integrated system to support ITER's first plasma Radiological Monitoring System, and to lay the foundation for subsequent phases of work to support future fusion power operations."
ITER, the world's largest fusion reactor, intends to prove the viability of fusion energy by building the world's largest fusion device at St-Paul-les-Durance, France and demonstrating that it can produce more energy than is required to power its plasma.
The First Plasma REMS protects workers and environment against ionizing radiation by monitoring radiological activity. This will help ITER to reach a new milestone when it starts operations. The project will be carried out at the ITER site and Jacobs' offices across Europe.
Image Source: Zacks Investment Research
Solid Project Execution: A Boon
Efficient project execution has been one of the main characteristics driving Jacobs’ performance over the last few quarters. The company’s ongoing contract wins are a testimony to the fact. For fiscal third quarter, it reported a backlog of $25.4 billion, up 7.4% year over year. This reflects persistent solid demand for Jacobs' consulting services.
The company’s overall 18-month qualified new business pipeline of more than $30 billion remains robust. Jacobs is benefiting from well-funded government programs and cyber, U.S. Department of Defense or DoD, mission-IT, space, nuclear as well as 5G-related projects.
Jacobs’ shares have gained 15.2% in the past six months compared with the industry’s 14.3% growth. Earnings estimates for fiscal 2021 also reflect year-over-year improvement of 13.1%.
Image: Bigstock
Jacobs (J) Wins ITER First Plasma REMS Contract, Boosts Backlog
Jacobs Engineering Group Inc. (J - Free Report) received a contract from Fusion for Energy (“F4E”) to design and deliver a key safety system for ITER — First Plasma Radiological Environmental Monitoring System (REMS). F4E estimated the contract for final design, procurement, installation and commissioning at $4.2 million.
F4E reselected Jacobs as its principal supplier of instrumentation and control systems support for ITER's upcoming nuclear safety needs in a separate framework contract. The said contract is estimated at a maximum value of $10.6 million and will be carried out for the next seven years. Jacobs will offer technical specifications and help F4E manage project delivery and acceptance of systems.
Jacobs’ Energy, Security and Technology senior vice president, Karen Wiemelt, said, "We aim to bring together the best equipment suppliers from across Europe with Jacobs, to deliver a robust integrated system to support ITER's first plasma Radiological Monitoring System, and to lay the foundation for subsequent phases of work to support future fusion power operations."
ITER, the world's largest fusion reactor, intends to prove the viability of fusion energy by building the world's largest fusion device at St-Paul-les-Durance, France and demonstrating that it can produce more energy than is required to power its plasma.
The First Plasma REMS protects workers and environment against ionizing radiation by monitoring radiological activity. This will help ITER to reach a new milestone when it starts operations. The project will be carried out at the ITER site and Jacobs' offices across Europe.
Image Source: Zacks Investment Research
Solid Project Execution: A Boon
Efficient project execution has been one of the main characteristics driving Jacobs’ performance over the last few quarters. The company’s ongoing contract wins are a testimony to the fact. For fiscal third quarter, it reported a backlog of $25.4 billion, up 7.4% year over year. This reflects persistent solid demand for Jacobs' consulting services.
The company’s overall 18-month qualified new business pipeline of more than $30 billion remains robust. Jacobs is benefiting from well-funded government programs and cyber, U.S. Department of Defense or DoD, mission-IT, space, nuclear as well as 5G-related projects.
Jacobs’ shares have gained 15.2% in the past six months compared with the industry’s 14.3% growth. Earnings estimates for fiscal 2021 also reflect year-over-year improvement of 13.1%.
Zacks Rank
Jacobs — which shares space with Quanta Services, Inc. (PWR - Free Report) , AECOM (ACM - Free Report) and KBR, Inc. (KBR - Free Report) in the Zacks Engineering - R and D Services industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.