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Jacobs (J) to be a Design Consultant for Hobart Bridge Project
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McConnell Dowell selected Jacobs Engineering Group Inc. (J - Free Report) as a design consultant for the New Bridgewater Bridge project in Hobart, Tasmania.
The task order, which is part of the Hobart City Deal, has an estimated project value of $566 million and is set to begin in mid-2022. Post completion, the Hobart traffic is expected to travel over the new bridge by the end of 2024.
The project will replace the existing 76-year-old, two-lane lift bridge over the River Derwent with a new modern four-lane bridge with enhanced interchanges and a safe, dedicated pedestrian and cyclist pathway. Jacobs will help the city with its design services for all roads, interchanges, ramps and underpasses and the structural design of the Boyer Road bridge, Black Snake Road bridge and watercourse structures.
Jacobs’ People & Places Solutions or P&PS senior vice president and general manager Keith Lawson, noted, "Through this significant infrastructure project, Jacobs is helping to deliver more efficient and reliable travel between north and south Tasmania by applying our capabilities in structural design, flood modelling, transit planning, intelligent transport and roadway design."
Solid Project Execution to Drive Growth
Jacobs is witnessing accelerated demand for consulting services for infrastructure, water, environment, space, broadband, cybersecurity and life sciences. Efficient project execution has been a primary factor driving Jacobs’ performance over the last few quarters. The company’s solid backlog level is a testimony to this fact.
At fiscal second quarter-end, it reported a backlog of $27.8 billion, up 8.7% year over year. This reflects persistent solid demand for Jacobs' consulting services. Of this backlog, CMS accounted for $10.5 billion, up from $9.78 billion reported a year ago, which provided strong visibility into the base business. P&PS backlog at quarter-end was $16.96 billion, up from $15.5 billion a year ago.
J’s shares have outperformed the Zacks Engineering - R and D Services industry this year. The trend is expected to continue in the near term, courtesy of its solid results for the first half of fiscal 2022.
Some Better-Ranked Stocks in the Broader Construction Sector
Beazer Homes USA, Inc. (BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from solid operational execution and the continued strength of the housing market.
Beazer Homes’ earnings are expected to grow 48.9% in fiscal 2022.
NVR, Inc. (NVR - Free Report) currently sports a Zacks Rank #1. The company is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, which are primarily constructed on a pre-sold basis. To serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.
NVR’s expected earnings growth rate for the current year is 68.4%.
TRI Pointe Group Inc. (TPH - Free Report) currently sports a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing and improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe’s earnings for 2022 are expected to grow 29.6%.
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Jacobs (J) to be a Design Consultant for Hobart Bridge Project
McConnell Dowell selected Jacobs Engineering Group Inc. (J - Free Report) as a design consultant for the New Bridgewater Bridge project in Hobart, Tasmania.
The task order, which is part of the Hobart City Deal, has an estimated project value of $566 million and is set to begin in mid-2022. Post completion, the Hobart traffic is expected to travel over the new bridge by the end of 2024.
The project will replace the existing 76-year-old, two-lane lift bridge over the River Derwent with a new modern four-lane bridge with enhanced interchanges and a safe, dedicated pedestrian and cyclist pathway. Jacobs will help the city with its design services for all roads, interchanges, ramps and underpasses and the structural design of the Boyer Road bridge, Black Snake Road bridge and watercourse structures.
Jacobs’ People & Places Solutions or P&PS senior vice president and general manager Keith Lawson, noted, "Through this significant infrastructure project, Jacobs is helping to deliver more efficient and reliable travel between north and south Tasmania by applying our capabilities in structural design, flood modelling, transit planning, intelligent transport and roadway design."
Solid Project Execution to Drive Growth
Jacobs is witnessing accelerated demand for consulting services for infrastructure, water, environment, space, broadband, cybersecurity and life sciences. Efficient project execution has been a primary factor driving Jacobs’ performance over the last few quarters. The company’s solid backlog level is a testimony to this fact.
At fiscal second quarter-end, it reported a backlog of $27.8 billion, up 8.7% year over year. This reflects persistent solid demand for Jacobs' consulting services. Of this backlog, CMS accounted for $10.5 billion, up from $9.78 billion reported a year ago, which provided strong visibility into the base business. P&PS backlog at quarter-end was $16.96 billion, up from $15.5 billion a year ago.
J’s shares have outperformed the Zacks Engineering - R and D Services industry this year. The trend is expected to continue in the near term, courtesy of its solid results for the first half of fiscal 2022.
Zacks Rank
Currently, Jacobs 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 the Broader Construction Sector
Beazer Homes USA, Inc. (BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from solid operational execution and the continued strength of the housing market.
Beazer Homes’ earnings are expected to grow 48.9% in fiscal 2022.
NVR, Inc. (NVR - Free Report) currently sports a Zacks Rank #1. The company is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, which are primarily constructed on a pre-sold basis. To serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.
NVR’s expected earnings growth rate for the current year is 68.4%.
TRI Pointe Group Inc. (TPH - Free Report) currently sports a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing and improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe’s earnings for 2022 are expected to grow 29.6%.