Jacobs (J) to Upgrade Transport Network in Washington State
Jacobs Engineering Group Inc. J is all set to act as lead designer for the Washington State Department of Transportation’s SR 509 Stage 2 Completion Project.
Guy F. Atkinson Construction LLC will design and construct this critical project, which is part of the Puget Sound Gateway Program. Jacobs will be part of the design-build team.
The Jacobs/Atkinson design-build team deliveries include five new bridges and one bridge modification, stormwater conveyance and treatment facilities, and the construction of active transportation infrastructure that supports walking, cycling and other physical modes of travel.
Post completion, this project will complete a crucial part of the state's transportation network between I-5 and SR 509, creating vital links between the Port of Seattle and manufacturing and distribution centers in the Kent Valley, ending near Sea-Tac Airport.
About Jacobs/Atkinson Collaboration
Over the past 19 years, Jacobs and Atkinson have been supporting the Washington State Department of Transportation, providing technical, delivery and risk management support on projects across the Evergreen State. The team has completed several phases of the Puget Sound Gateway Program. Since 2005, their design-build team has delivered various roadway improvements.
Founded in 1926, Atkinson is a leader in delivering complex projects. It provides innovative design and construction solutions for heavy civil projects to meet client's needs.
Solid Project Execution to Drive Growth
Jacobs' ability to execute projects efficiently has played a pivotal role in driving the company's performance in recent quarters. The continuous success in securing new contracts stands as evidence of this proficiency.
Ranked as No. 2 in Transportation by Engineering News-Record, Jacobs’ solutions help plan, develop, finance, design, construct, maintain and operate smart transportation infrastructure. For instance, Scotland's largest infrastructure project, Queensferry Crossing, and transformations to the busiest commuter railroad in the United States on New York City's Grand Central Madison project.
The solid project execution efforts are supported by its ongoing backlog growth. At the fiscal second-quarter end, the company reported a backlog of $29.4 billion, up 2% year over year. This reflects persistent solid demand for Jacobs' consulting services. People & Places Solutions’ backlog was $17.93 billion in the fiscal second quarter compared with $17.56 billion in the year-ago period. The backlog at the Critical Mission Solutions segment was $8.45 billion in the fiscal second quarter, up from $8.14 billion a year ago.
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Shares of the company have gained 6.8% so far this year compared with the Zacks Technology Services industry’s 12.2% growth. Although J’s shares have underperformed the industry, its earnings per share (EPS) estimates for fiscal 2024 suggest 10.8% year-over-year growth.
Zacks Rank & Stocks to Consider
Currently, Jacobs carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks in the same space:
AppLovin Corporation APP currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
APP delivered a trailing four-quarter earnings surprise of 60.9%, on average. The Zacks Consensus Estimate for APP’s 2024 sales and EPS indicates growth of 31.7% and 202%, respectively, from the prior-year levels.
Duolingo, Inc. DUOL currently sports a Zacks Rank of 1. DUOL delivered a trailing four-quarter earnings surprise of 115.2%, on average.
The Zacks Consensus Estimate for DUOL’s 2024 sales and EPS indicates growth of 37.8% and 397.1%, respectively, from the prior-year levels.
SPX Technologies, Inc. SPXC presently flaunts a Zacks Rank of 1. SPXC has a trailing four-quarter earnings surprise of 13.9%, on average.
The Zacks Consensus Estimate for SPXC’s 2024 sales and EPS indicates an increase of 14.7% and 24.4%, respectively, from the year-ago period’s reported levels.
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