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 Wins General Engineering Services Pact From SATORP
Read MoreHide Full Article
Jacobs Engineering Group Inc. recently received a two-year renewal contract from Saudi Aramco Total Refining and Petrochemical Company (“SATORP”) to render general engineering services (“GES”) at SATORP’s Jubail Industrial City II facilities in Saudi Arabia.
SATORP, a joint venture refinery between Saudi Aramco and French energy major TOTAL S.A., is based in Jubail region of Saudi Arabia. It has a processing capacity of 400,000 barrels of Arabian heavy crude oil per day.
Jacobs, which has been operating in Saudi Arabia for more than 40 years, is already providing a wide array of services, ranging from basic engineering to Front End Engineering Design (“FEED”), and detailed engineering design services for a portfolio of minor capital expenditure projects to maintain operations at the SATORP Jubail II refinery.
Other Contract Wins
Earlier in August, Jacobs won an engineering services contract for Keyera's Wapiti Gas Plant Phase Two expansion. The second phase covers an additional processing of 150 million cubic feet of sour gas per day to the plant (currently under construction) near Grande Prairie, Alberta, Canada (Read more: Jacobs Wins Contract for Wapiti Gas Plant Expansion).
Efficient project execution has been one of the main characteristics that is driving Jacobs’ performance since the last few quarters. The company’s ongoing contract wins are a testimony to the fact.
Recently, Jacobs reported better-than-expected results in the third quarter of fiscal 2018 (ended Jun 29, 2018), beating both the top and bottom lines by 4.3% and 13.4%, respectively. The company’s earnings increased by a significant 71% from the year-ago figure. Jacobs’ quarterly revenues also reflected healthy growth of 65.3% from the year-ago quarter. The upsurge was driven by healthy segmental businesses, accelerated CH2M cost savings along with prudent strategy execution.
Notably, Jacobs’ backlog at the end of the quarter was $27.2 billion, increasing 47% year over year.
Buoyed by stellar performance so far this fiscal, Jacobs now expects fiscal 2018 adjusted earnings per share to be at the high end of its earlier guided range of $4.00-$4.40.
Share Price Performance
Shares of Jacobs, a Zacks Rank #2 (Buy) company, have broadly outperformed the industry so far this year. Its shares have gained 7.8% in the said time frame against its industry’s decline of more than 8%. Earnings estimates have also been trending upward over the past 30 days. Estimates have advanced 2.3% and 4.4% for the current and next year, respectively.
Elevated construction spending in the United States and Trump’s impetus to boost infrastructure spending have been triggering demand for Jacob’s state-of-the-art construction, and engineering services since the past few quarters. This trend will further drive its performance going forward.
Comfort Systems and Gates’ current-year earnings are expected to increase 56.3% and 42.2%, respectively.
KBR’s earnings surpassed the consensus estimate in three of the trailing four quarters, with an average positive surprise of 12.26%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Jacobs Wins General Engineering Services Pact From SATORP
Jacobs Engineering Group Inc. recently received a two-year renewal contract from Saudi Aramco Total Refining and Petrochemical Company (“SATORP”) to render general engineering services (“GES”) at SATORP’s Jubail Industrial City II facilities in Saudi Arabia.
SATORP, a joint venture refinery between Saudi Aramco and French energy major TOTAL S.A., is based in Jubail region of Saudi Arabia. It has a processing capacity of 400,000 barrels of Arabian heavy crude oil per day.
Jacobs, which has been operating in Saudi Arabia for more than 40 years, is already providing a wide array of services, ranging from basic engineering to Front End Engineering Design (“FEED”), and detailed engineering design services for a portfolio of minor capital expenditure projects to maintain operations at the SATORP Jubail II refinery.
Other Contract Wins
Earlier in August, Jacobs won an engineering services contract for Keyera's Wapiti Gas Plant Phase Two expansion. The second phase covers an additional processing of 150 million cubic feet of sour gas per day to the plant (currently under construction) near Grande Prairie, Alberta, Canada (Read more: Jacobs Wins Contract for Wapiti Gas Plant Expansion).
Efficient project execution has been one of the main characteristics that is driving Jacobs’ performance since the last few quarters. The company’s ongoing contract wins are a testimony to the fact.
Recently, Jacobs reported better-than-expected results in the third quarter of fiscal 2018 (ended Jun 29, 2018), beating both the top and bottom lines by 4.3% and 13.4%, respectively. The company’s earnings increased by a significant 71% from the year-ago figure. Jacobs’ quarterly revenues also reflected healthy growth of 65.3% from the year-ago quarter. The upsurge was driven by healthy segmental businesses, accelerated CH2M cost savings along with prudent strategy execution.
Notably, Jacobs’ backlog at the end of the quarter was $27.2 billion, increasing 47% year over year.
Buoyed by stellar performance so far this fiscal, Jacobs now expects fiscal 2018 adjusted earnings per share to be at the high end of its earlier guided range of $4.00-$4.40.
Share Price Performance
Shares of Jacobs, a Zacks Rank #2 (Buy) company, have broadly outperformed the industry so far this year. Its shares have gained 7.8% in the said time frame against its industry’s decline of more than 8%. Earnings estimates have also been trending upward over the past 30 days. Estimates have advanced 2.3% and 4.4% for the current and next year, respectively.
Elevated construction spending in the United States and Trump’s impetus to boost infrastructure spending have been triggering demand for Jacob’s state-of-the-art construction, and engineering services since the past few quarters. This trend will further drive its performance going forward.
Other Stocks to Consider
Other top-ranked stocks in the same sector include Comfort Systems USA, Inc. (FIX - Free Report) , Gates Industrial Corporation plc (GTES - Free Report) and KBR Inc. (KBR - Free Report) . While Comfort Systems sports a Zacks Rank #1 (Strong Buy), Gates and Jacobs both carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Comfort Systems and Gates’ current-year earnings are expected to increase 56.3% and 42.2%, respectively.
KBR’s earnings surpassed the consensus estimate in three of the trailing four quarters, with an average positive surprise of 12.26%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>