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Jacobs (J) Wins Place on $3.47B Dallas ISD 2020 Bond Program

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Jacobs Engineering Group Inc. (J - Free Report) has won a place on $3.47-billion Dallas Independent School District (Dallas ISD) 2020 Bond Program to fund school repairs and upgrades as well as cover the cost of updating district technology. As a program manager, Jacobs will manage work at 21 campuses, including four new schools, five campus expansions and 12 school renovations.

It has partnered with KAI 360 Construction Services, LLC; CARCON Industries & Construction, LLC; 3i Construction Management, LLC; and The Burrell Group and Master Code, Inc. to provide schools with mechanical/air-conditioning upgrades, new roofs and security systems, exterior building enhancements as well as additional site improvements.

Jacobs’ People & Places Solutions’ Senior Vice President, Tom Meinhart, said, "Dallas ISD is considered to be one of the fastest improving urban school districts in the country and by collaborating we can continue to create better environments for students to learn and grow."

This largest ISD project in the state’s history will provide improvements to more than 200 of the district's 230 campuses.

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 the fiscal second quarter, it reported a backlog of $15.5 billion, up 9.6% 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. In fact, it has worked for more than 10 years with Health Infrastructure to design world-leading, technology-forward and award-winning healthcare facilities for local communities.

Recently, its PP&S unit has inked a design services contact from Australia’s primary water and sewage utility provider — TasWater. Per the contract, Jacobs will provide concept/functional design for estimating purposes, detailed design and construction as well as commissioning support services for TasWater's Bryn Estyn Water Treatment Plant Upgrade project in Hobart, Australia.

Zacks Investment Research
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Jacobs’ shares have gained 21.8% so far this year, outperforming the industry’s 16.8% growth. Earnings estimates for 2021 also reflect a year-over-year improvement of 11.7%.

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.

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