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Jacobs (J) to Serve as a Strategic Technical Partner for NWG
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Jacobs Engineering Group Inc. (J - Free Report) won a contract to serve as a strategic technical partner for Northumbrian Water Group ("NWG") to help it make long-term integrated, smarter water management decisions across the complete asset life cycle. J will support the delivery of the water company's future asset investment programs across the Northumbrian Water and Essex & Suffolk Water regions in the U.K.
Per this eight-year framework contract, J will assist NWG's portfolio with end-to-end technical and strategic planning to explore improvement scopes in infrastructure management, co-creating new-look capital delivery processes and plans. This will help NWG deliver the best customer value, manage risk and meet affordability requirements.
Jacobs People & Places Solutions’ senior vice president Europe, Kate Kenny, said, "We'll be working with Northumbrian Water Group to challenge current approaches and explore alternative ways to help them maintain a sustainable and resilient business, provide best service to customers and realize long-term goals around zero carbon and nature-based solutions."
Image Source: Zacks Investment Research
J’s shares gained 0.42% on Feb 27 and have outperformed the Zacks Technology Services industry in the past six months. Earnings estimates for fiscal 2023 suggest 6.6% year-over-year growth.
Solid Project Execution to Drive Growth
Jacobs is witnessing a rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. 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 the same. Backlog at the end of first-quarter fiscal 2023 amounted to $28.3 billion, up 1% from a year ago.
Jacobs’ P&PS segment (accounting for 57.7% of the total revenues in fiscal 2022) serves clients from broader sectors like water, transportation, building and semiconductors, and acts as a major contributing business segment. The segment has solid prospects, given its overall higher sales pipeline.
P&PS backlog at the quarter’s end was $17.2 billion, up from $16.93 billion a year ago. The P&PS segment’s overall sales pipeline remains solid, as climate, decarbonization and social value are gaining momentum across sectors.
Jacobs’ Focus 2023 initiative entails more than $200 million in benefits versus fiscal 2020. Through this initiative, the company has been accelerating the adoption of digital technology across all facets of operations. The move will include a reduction in physical real estate footprint by more than 30% as it significantly shifts to a more flexible and virtual workforce. Jacobs expects that by 2023, this transformative initiative, which will provide Jacobs with the flexibility to materially invest in the business, will drive growth through technology-enabled solutions.
Some better-ranked stocks in the Business Services sector are Inspired Entertainment, Inc. (INSE - Free Report) , Amplitude, Inc. (AMPL - Free Report) and Chindata Group Holdings Limited .
Inspired Entertainment’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average being 19.02%. It currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for INSE’s 2023 earnings suggests an improvement of 31.1% from 2022 estimates. The same for revenues suggests growth of 15.1% from 2022 estimates. The consensus mark for INSE’s 2023 earnings has moved north in the past 60 days.
Amplitude’s revenues for the current year are likely to rise 20.5% from the year-ago reported figure. The same for earnings suggests growth of 33.3% from 2022 estimates. San Francisco, CA-based AMPL has witnessed an upward estimate revision in the past 30 days.
AMPL’s earnings beat estimates in each of the last four quarters, the average being 37.7%. It currently carries a Zacks Rank #2 (Buy).
Chindata Group’s earnings outpaced estimates in three of the trailing four quarters, the average being 82.5%. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for CD’s 2023 earnings suggests an improvement of 79.6% from 2022 estimates. The same for revenues suggests growth of 39.3% from 2022 estimates. The consensus mark for its 2023 earnings has moved north in the past 60 days.
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Jacobs (J) to Serve as a Strategic Technical Partner for NWG
Jacobs Engineering Group Inc. (J - Free Report) won a contract to serve as a strategic technical partner for Northumbrian Water Group ("NWG") to help it make long-term integrated, smarter water management decisions across the complete asset life cycle. J will support the delivery of the water company's future asset investment programs across the Northumbrian Water and Essex & Suffolk Water regions in the U.K.
Per this eight-year framework contract, J will assist NWG's portfolio with end-to-end technical and strategic planning to explore improvement scopes in infrastructure management, co-creating new-look capital delivery processes and plans. This will help NWG deliver the best customer value, manage risk and meet affordability requirements.
Jacobs People & Places Solutions’ senior vice president Europe, Kate Kenny, said, "We'll be working with Northumbrian Water Group to challenge current approaches and explore alternative ways to help them maintain a sustainable and resilient business, provide best service to customers and realize long-term goals around zero carbon and nature-based solutions."
Image Source: Zacks Investment Research
J’s shares gained 0.42% on Feb 27 and have outperformed the Zacks Technology Services industry in the past six months. Earnings estimates for fiscal 2023 suggest 6.6% year-over-year growth.
Solid Project Execution to Drive Growth
Jacobs is witnessing a rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. 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 the same. Backlog at the end of first-quarter fiscal 2023 amounted to $28.3 billion, up 1% from a year ago.
Jacobs’ P&PS segment (accounting for 57.7% of the total revenues in fiscal 2022) serves clients from broader sectors like water, transportation, building and semiconductors, and acts as a major contributing business segment. The segment has solid prospects, given its overall higher sales pipeline.
P&PS backlog at the quarter’s end was $17.2 billion, up from $16.93 billion a year ago. The P&PS segment’s overall sales pipeline remains solid, as climate, decarbonization and social value are gaining momentum across sectors.
Jacobs’ Focus 2023 initiative entails more than $200 million in benefits versus fiscal 2020. Through this initiative, the company has been accelerating the adoption of digital technology across all facets of operations. The move will include a reduction in physical real estate footprint by more than 30% as it significantly shifts to a more flexible and virtual workforce. Jacobs expects that by 2023, this transformative initiative, which will provide Jacobs with the flexibility to materially invest in the business, will drive growth through technology-enabled solutions.
Zacks Rank & Key Picks
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 Business Services sector are Inspired Entertainment, Inc. (INSE - Free Report) , Amplitude, Inc. (AMPL - Free Report) and Chindata Group Holdings Limited .
Inspired Entertainment’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average being 19.02%. It currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for INSE’s 2023 earnings suggests an improvement of 31.1% from 2022 estimates. The same for revenues suggests growth of 15.1% from 2022 estimates. The consensus mark for INSE’s 2023 earnings has moved north in the past 60 days.
Amplitude’s revenues for the current year are likely to rise 20.5% from the year-ago reported figure. The same for earnings suggests growth of 33.3% from 2022 estimates. San Francisco, CA-based AMPL has witnessed an upward estimate revision in the past 30 days.
AMPL’s earnings beat estimates in each of the last four quarters, the average being 37.7%. It currently carries a Zacks Rank #2 (Buy).
Chindata Group’s earnings outpaced estimates in three of the trailing four quarters, the average being 82.5%. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for CD’s 2023 earnings suggests an improvement of 79.6% from 2022 estimates. The same for revenues suggests growth of 39.3% from 2022 estimates. The consensus mark for its 2023 earnings has moved north in the past 60 days.