We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Jacobs (J) to Aid LASAN & LADWP Advanced Water Reuse Facility
Read MoreHide Full Article
Jacobs Engineering Group Inc. (J - Free Report) is selected to serve as the progressive design-build contractor for the Donald C. Tillman Advanced Water Purification Facility ("AWPF").
The project, which was given by LA Sanitation and Environment ("LASAN") and the Los Angeles Department of Water and Power ("LADWP"), is one of the largest potable water reuse projects in the country.
The AWPF project will use advanced treatment processes, like microfiltration, reverse osmosis, ultraviolet light and advanced oxidation, to purify more than 15 million gallons per day. This will provide a new groundwater supply source for up to 200,000 customers.
J’s People & Places Solutions Americas’ senior vice president, Ron Williams, said, "Jacobs' selection by LASAN and LADWP to help secure the city's long-term water supplies with a new advanced water purification facility is one of several transformative projects happening in the state to address drought concerns in California. Water scarcity is a growing issue across the globe. Taking this innovative and collaborative approach to tackle water shortages in Los Angeles offers a safe, sustainable and effective way to manage water resources and address water scarcity issues in the state."
Image Source: Zacks Investment Research
J’s shares slipped 0.11% on Mar 1 but have gained 0.5% in the past six months against the Zacks Technology Services industry’s 3.7% decline. 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 the 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 industry 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 the 2022 estimate. The same for revenues suggests growth of 15.1% from the 2022 estimate. 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 the 2022 estimate. 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 the 2022 estimate. The same for revenues suggests growth of 39.3% from the 2022 estimate. The consensus mark for its 2023 earnings has moved north in the past 60 days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Jacobs (J) to Aid LASAN & LADWP Advanced Water Reuse Facility
Jacobs Engineering Group Inc. (J - Free Report) is selected to serve as the progressive design-build contractor for the Donald C. Tillman Advanced Water Purification Facility ("AWPF").
The project, which was given by LA Sanitation and Environment ("LASAN") and the Los Angeles Department of Water and Power ("LADWP"), is one of the largest potable water reuse projects in the country.
The AWPF project will use advanced treatment processes, like microfiltration, reverse osmosis, ultraviolet light and advanced oxidation, to purify more than 15 million gallons per day. This will provide a new groundwater supply source for up to 200,000 customers.
J’s People & Places Solutions Americas’ senior vice president, Ron Williams, said, "Jacobs' selection by LASAN and LADWP to help secure the city's long-term water supplies with a new advanced water purification facility is one of several transformative projects happening in the state to address drought concerns in California. Water scarcity is a growing issue across the globe. Taking this innovative and collaborative approach to tackle water shortages in Los Angeles offers a safe, sustainable and effective way to manage water resources and address water scarcity issues in the state."
Image Source: Zacks Investment Research
J’s shares slipped 0.11% on Mar 1 but have gained 0.5% in the past six months against the Zacks Technology Services industry’s 3.7% decline. 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 the 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 industry 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 the 2022 estimate. The same for revenues suggests growth of 15.1% from the 2022 estimate. 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 the 2022 estimate. 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 the 2022 estimate. The same for revenues suggests growth of 39.3% from the 2022 estimate. The consensus mark for its 2023 earnings has moved north in the past 60 days.