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Jacobs Solutions Inc.’s (J - Free Report) unit Jacobs Government Services Co., secured an indefinite-delivery/indefinite-quantity contract from Naval Facilities Engineering Systems Command (NAVFAC) Southwest, San Diego, CA for providing multi-disciplinary architect-engineer services. The contract is worth $249 million and will be completed by March 2031.
The contract aims design-bid-build construction contract packages that include the preparation of full plans and specifications, site surveys and investigations, cost estimations and post-construction award services at numerous Navy and Marine Corps installations in the Southwest area of Navy Region. The operations and maintenance funds for fiscal 2023 totaling $5,000, to be ensured at the time of the contract, will not expire till the end of the said fiscal year.
Jacobs’ Growth Drivers
In the past six months, shares of Jacobs have inched up 0.1% against the Zacks Technology Services industry’s decline of 1.1%.
Image Source: Zacks Investment Research
Jacobs’ ongoing contract wins portray the company’s efficient project execution capabilities, which are driving its performance over the last few quarters.
Jacobs’ Critical Mission Solutions (CMS) segment (accounting for 28.3% of the total revenues in the first quarter of fiscal 2023) serves global automotive, aerospace, telecommunications, defense, and nuclear clients, as well as the intelligence community of the United States. The segment has solid prospects, given its overall higher sales pipeline.
CMS backlog as of the first quarter of fiscal 2023 was $7.63 billion, up from $7.53 billion a year ago. This segment benefits 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 is expected to benefit from strong global trends in infrastructure modernization, energy transition, national security and a potential super-cycle in global supply chain investments.
Some better-ranked stocks from the Zacks Business Services sector are:
SPS Commerce, Inc. (SPSC - Free Report) currently sports a Zacks Rank #1. SPSC delivered a four-quarter average earnings surprise of 16.3%. The company’s shares have risen 24.5% in the past six months.
The Zacks Consensus Estimate for SPSC’s 2023 sales and EPS indicates growth of 16.5% and 13.2%, respectively, from the prior-year reported figures.
Omnicom Group Inc. (OMC - Free Report) flaunts a Zacks Rank #1 at present. OMC came up with a four-quarter average earnings surprise of 8%. The stock has risen 36.2% in the past six months.
The Zacks Consensus Estimate for OMC’s 2023 sales and EPS indicates growth of 2.7% and 3.2%, respectively, from the prior-year reported figures.
Trane Technologies plc (TT - Free Report) currently sports a Zacks Rank #1. TT has a trailing four-quarter earnings surprise of 8.2%, on average. Shares of the company have gained 20.4% in the past year.
The Zacks Consensus Estimate for TT’s 2023 sales and EPS indicates growth of 7.6% and 12.6%, respectively, from the year-ago reported levels.
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Jacobs (J) Secures NAVFAC's $249M Contract, Boosts Backlog
Jacobs Solutions Inc.’s (J - Free Report) unit Jacobs Government Services Co., secured an indefinite-delivery/indefinite-quantity contract from Naval Facilities Engineering Systems Command (NAVFAC) Southwest, San Diego, CA for providing multi-disciplinary architect-engineer services. The contract is worth $249 million and will be completed by March 2031.
The contract aims design-bid-build construction contract packages that include the preparation of full plans and specifications, site surveys and investigations, cost estimations and post-construction award services at numerous Navy and Marine Corps installations in the Southwest area of Navy Region. The operations and maintenance funds for fiscal 2023 totaling $5,000, to be ensured at the time of the contract, will not expire till the end of the said fiscal year.
Jacobs’ Growth Drivers
In the past six months, shares of Jacobs have inched up 0.1% against the Zacks Technology Services industry’s decline of 1.1%.
Image Source: Zacks Investment Research
Jacobs’ ongoing contract wins portray the company’s efficient project execution capabilities, which are driving its performance over the last few quarters.
Jacobs’ Critical Mission Solutions (CMS) segment (accounting for 28.3% of the total revenues in the first quarter of fiscal 2023) serves global automotive, aerospace, telecommunications, defense, and nuclear clients, as well as the intelligence community of the United States. The segment has solid prospects, given its overall higher sales pipeline.
CMS backlog as of the first quarter of fiscal 2023 was $7.63 billion, up from $7.53 billion a year ago. This segment benefits 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 is expected to benefit from strong global trends in infrastructure modernization, energy transition, national security and a potential super-cycle in global supply chain investments.
Zacks Rank & Key Picks
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 from the Zacks Business Services sector are:
SPS Commerce, Inc. (SPSC - Free Report) currently sports a Zacks Rank #1. SPSC delivered a four-quarter average earnings surprise of 16.3%. The company’s shares have risen 24.5% in the past six months.
The Zacks Consensus Estimate for SPSC’s 2023 sales and EPS indicates growth of 16.5% and 13.2%, respectively, from the prior-year reported figures.
Omnicom Group Inc. (OMC - Free Report) flaunts a Zacks Rank #1 at present. OMC came up with a four-quarter average earnings surprise of 8%. The stock has risen 36.2% in the past six months.
The Zacks Consensus Estimate for OMC’s 2023 sales and EPS indicates growth of 2.7% and 3.2%, respectively, from the prior-year reported figures.
Trane Technologies plc (TT - Free Report) currently sports a Zacks Rank #1. TT has a trailing four-quarter earnings surprise of 8.2%, on average. Shares of the company have gained 20.4% in the past year.
The Zacks Consensus Estimate for TT’s 2023 sales and EPS indicates growth of 7.6% and 12.6%, respectively, from the year-ago reported levels.