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Jacobs (J) Wins $250M IDIQ Contracts From OBO, Aids Backlog
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Jacobs Engineering Group Inc. (J - Free Report) has won a five-year, $250-million Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Department of State Bureau of Overseas Buildings Operations (“OBO”).
This marks the third time that Jacobs will provide architecture and engineering support services to OBO. It will offer program-level process- and procedure-improvement support, existing facilities surveys and analyses along with other project-specific support to OBO.
Over the past 35 years, this leading engineering service provider has been successfully executing individual project-specific contracts, design and support service IDIQ contracts, and commissioning IDIQ contracts in more than 90 countries for OBO.
Jacobs’ Federal & Environmental Solutions’ SVP and GM, Tim Byers, said, "We continue to leverage our capabilities, tools and technology to drive value, increase resiliency and sustainability, lower risk and provide best-in-class stewardship of OBO's worldwide portfolio."
Solid Project Execution: A Boon
Efficient project execution has been one of the main factors driving its performance over the last few quarters. The company’s ongoing contract wins are a testimony to the fact. For the fiscal third quarter, it reported a total backlog of $25.4 billion, up 7.4% year over year. This reflects 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, mission-IT, space, nuclear as well as 5G-related projects.
Image Source: Zacks Investment Research
Its shares have gained 40.7% over a year compared with the industry’s 50.9% growth. Earnings estimates for fiscal 2021 indicate a year-over-year improvement of 13.9%.
Comfort Systems USA, Inc. (FIX - Free Report) : This heating, ventilation, and air conditioning installation service provider presently sports a Zacks Rank #1.
Comfort Systems has a trailing four-quarter earnings surprise of 17.4%, on average. The Zacks Consensus Estimate for earnings per share for the current year has improved 7.1% in the past 30 days. Shares of FIX have jumped 108.6% in the past year.
Meritage Homes Corporation (MTH - Free Report) — a leading homebuilder of single-family homes — sports a Zacks Rank #1 at present.
Meritage Homes has a trailing four-quarter earnings surprise of 24.4%, on average. The Zacks Consensus Estimate for earnings for the current year indicates a 74.6% year-over-year surge. Shares of MTH have jumped 29.6% in the past year.
Beazer Homes USA, Inc. (BZH - Free Report) , a national homebuilder, currently sports a Zacks Rank #1.
Beazer Homes has a trailing four-quarter earnings surprise of 60.3%, on average. The Zacks Consensus Estimate for its earnings per share for the current year has improved 44% in the past seven days. Shares of BZH have jumped 58.1% in the past year.
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Jacobs (J) Wins $250M IDIQ Contracts From OBO, Aids Backlog
Jacobs Engineering Group Inc. (J - Free Report) has won a five-year, $250-million Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Department of State Bureau of Overseas Buildings Operations (“OBO”).
This marks the third time that Jacobs will provide architecture and engineering support services to OBO. It will offer program-level process- and procedure-improvement support, existing facilities surveys and analyses along with other project-specific support to OBO.
Over the past 35 years, this leading engineering service provider has been successfully executing individual project-specific contracts, design and support service IDIQ contracts, and commissioning IDIQ contracts in more than 90 countries for OBO.
Jacobs’ Federal & Environmental Solutions’ SVP and GM, Tim Byers, said, "We continue to leverage our capabilities, tools and technology to drive value, increase resiliency and sustainability, lower risk and provide best-in-class stewardship of OBO's worldwide portfolio."
Solid Project Execution: A Boon
Efficient project execution has been one of the main factors driving its performance over the last few quarters. The company’s ongoing contract wins are a testimony to the fact. For the fiscal third quarter, it reported a total backlog of $25.4 billion, up 7.4% year over year. This reflects 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, mission-IT, space, nuclear as well as 5G-related projects.
Its shares have gained 40.7% over a year compared with the industry’s 50.9% growth. Earnings estimates for fiscal 2021 indicate a year-over-year improvement of 13.9%.
Zacks Rank
Jacobs currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some Better-Ranked Stocks in Construction Sector
Comfort Systems USA, Inc. (FIX - Free Report) : This heating, ventilation, and air conditioning installation service provider presently sports a Zacks Rank #1.
Comfort Systems has a trailing four-quarter earnings surprise of 17.4%, on average. The Zacks Consensus Estimate for earnings per share for the current year has improved 7.1% in the past 30 days. Shares of FIX have jumped 108.6% in the past year.
Meritage Homes Corporation (MTH - Free Report) — a leading homebuilder of single-family homes — sports a Zacks Rank #1 at present.
Meritage Homes has a trailing four-quarter earnings surprise of 24.4%, on average. The Zacks Consensus Estimate for earnings for the current year indicates a 74.6% year-over-year surge. Shares of MTH have jumped 29.6% in the past year.
Beazer Homes USA, Inc. (BZH - Free Report) , a national homebuilder, currently sports a Zacks Rank #1.
Beazer Homes has a trailing four-quarter earnings surprise of 60.3%, on average. The Zacks Consensus Estimate for its earnings per share for the current year has improved 44% in the past seven days. Shares of BZH have jumped 58.1% in the past year.