URS Bags Navy Contract

URS Corp. (URS - Analyst Report) announced that it is one of four firms that have been awarded an indefinite delivery and indefinite quantity contract by the U.S. Navy for construction projects at Department of Defense installations worldwide. The contract has a maximum potential value to all four awardees of approximately $900 million over a five-year period.

URS will be able to compete for task orders to provide a variety of services, including new construction, repair, demolition and renovation projects at Department of Defense facilities, including power, medical and waterfront facilities at Department of Defense installations. In addition, URS may provide construction services for energy and water conservation projects.

Earlier, URS was awarded a five year renewal of its travel options contract with the Massachusetts Executive Office of Transportation.  Under the contract, URS staffs MassRIDES, the Commonwealth’s statewide travel options program, serving travelers, employers, students, visitors, and communities on the full range of available transportation alternatives. Since 2004, URS MassRIDES team members have delivered employer outreach, ride-matching, vanpooling, phone and web-based traveler assistance, and Safe Routes to School services with the goal of reducing congestion, improving air quality, and saving energy.

URS is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a full range of program management; planning, design and engineering; systems engineering and technical assistance; construction and construction management; operations and maintenance; and decommissioning and closure services. URS provides services for power, infrastructure, industrial and commercial, and federal projects and programs. Its major competitors include AECOM Technology Corp. (ACM - Snapshot Report) and KBR Inc. (KBR - Snapshot Report).

We currently have a Neutral recommendation on URS.

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