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Jacobs (J) to Lend Engineering Design Services to Irish Water

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Jacobs Engineering Group Inc. (J - Free Report) has secured a place in Irish Water's Engineering Design Services Framework. To lend support to the latter for upgrading Ireland's water services infrastructure, Jacobs will provide technical support on its program of capital works throughout Ireland.

Under this seven-year framework, Jacobs will provide a range of services and strategic planning support comprising feasibility studies, investment planning, site survey and investigation services, stakeholder management, construction contract administration, as well as asset management.

Senior vice president Europe and Digital Strategies Donald Morrison of Jacobs People & Places Solutions or P&PS business said, "Building on our long-standing relationship, this latest award enables us to bring our diverse skills and knowledge to support Irish Water in the delivery of resilient and sustainable water and wastewater infrastructure."

Over the past six years, Jacobs has been supporting Irish Water to deliver various important projects that include the National Water Resources Plan, Sludge Hub and Satellite Dewatering Program, along with Navan Mid-Meath Water Supply Scheme.

Through this latest contract, Jacobs aims to provide Irish Water with a wide range of services including scientific, technical, professional, design, construction and program management.

A Look at P&PS Prospects

The company’s P&PS (representing 63.4% of fiscal 2020 total revenues) serves clients of broad sectors like water, transportation, building and semiconductors. The segment revenues increased 5.1% year over year for fiscal 2020. Meanwhile, its solid backlog is indicative of strong prospects. Backlog at fiscal quarter-end was $14.7 billion, up 4.3% year over year.

Jacobs’ shares have outperformed the industry in the year-to-date period. The solid price performance was backed by an impressive earnings surprise history. The company surpassed earnings estimates in 11 of the trailing 13 quarters. The trend is expected to continue in the near term, courtesy of its solid performance in fiscal 2020 despite disruptions caused by the COVID-19 outbreak.

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 same industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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