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Jacobs (J) to Provide O&M Services to the City of Farmington
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Jacobs Engineering Group Inc. (J - Free Report) received a contract extension for five years from the City of Farmington, NM.
With the help of its Digital OneWater solution, Aqua DNA, J will provide operations and maintenance (“O&M”) services to wastewater and surface water treatment plants and wastewater collection and drinking water distribution systems.
The Aqua DNA assists water utilities in response to climate change, tightening regulations, workforce shortages and operational performance. It will be used to monitor collection system levels, adjust operations to prevent overflows and improve energy efficiency.
The contract will begin on Jan 1, 2024, with an initial contract value of $9 million per year. J’s experts will leverage the deep-water experience to protect the environment and the Animas River watershed by treating wastewater and stormwater thoroughly and efficiently.
Since 1999, Jacobs has provided O&M services to the City of Farmington. It coordinates community hiring activities and develops skilled workers from local community colleges.
J’s shares fell 2.85% on Nov 16 and 0.4% in the past three months versus the Zacks Technology Services industry’s 12.5% growth. Earnings estimates for fiscal 2023 also slipped downward by 1 penny to $7.33 per share.
Image Source: Zacks Investment Research
Nonetheless, this suggests 5.7% year-over-year growth on 8.6% higher revenues.
Solid Project Execution to Drive Growth
Jacobs is witnessing a rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. J has been ranked as No.1 in Wastewater Treatment by Engineering News-Record to provide solutions that conserve water while optimizing utility operations through reduced energy consumption and carbon footprint.
It has also been creating smart and connected spaces and places to support diverse regeneration and development projects, like a feasibility study for Rikers Island and The Ellinikon development in Greece.
Efficient project execution has been a key factor driving Jacobs’ performance over the last few quarters. A testament to this success is its robust backlog level, which was $28.9 billion at the end of the third quarter of fiscal 2023. This marks a 2.9% increase from the previous year’s levels.
Zacks Rank
Currently, Jacobs carries a Zacks Rank #4 (Sell).
3 Better-Ranked Construction Stocks Hogging the Limelight
Gates Industrial Corporation plc (GTES - Free Report) manufactures engineered power transmission and fluid power solutions.
Its expected earnings growth rate for 2023 is 10.5%. The consensus mark for GTES’ 2023 earnings has moved north to $1.26 per share from $1.21 in the past 30 days.
Howmet Aerospace, Inc. (HWM - Free Report) is a global manufacturer of engineered products serving the aerospace, defense and commercial transportation industries. The company is expected to benefit from higher aircraft production rates and ease of supply chains in the transportation market.
Howmet Aerospace currently carries a Zacks Rank #2 (Buy). HWM’s earnings for 2023 are expected to grow by 27.1%. The consensus mark for HWM’s 2023 earnings has moved north to $1.78 per share from $1.77 in the past seven days.
Sterling Infrastructure, Inc. (STRL - Free Report) currently has a Zacks Rank #2. STRL delivered a trailing four-quarter earnings surprise of 14.9%, on average.
The Zacks Consensus Estimate for STRL’s 2023 sales and EPS indicates growth of 3.9% and 29.4%, respectively, from the previous year’s reported levels.
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Jacobs (J) to Provide O&M Services to the City of Farmington
Jacobs Engineering Group Inc. (J - Free Report) received a contract extension for five years from the City of Farmington, NM.
With the help of its Digital OneWater solution, Aqua DNA, J will provide operations and maintenance (“O&M”) services to wastewater and surface water treatment plants and wastewater collection and drinking water distribution systems.
The Aqua DNA assists water utilities in response to climate change, tightening regulations, workforce shortages and operational performance. It will be used to monitor collection system levels, adjust operations to prevent overflows and improve energy efficiency.
The contract will begin on Jan 1, 2024, with an initial contract value of $9 million per year. J’s experts will leverage the deep-water experience to protect the environment and the Animas River watershed by treating wastewater and stormwater thoroughly and efficiently.
Since 1999, Jacobs has provided O&M services to the City of Farmington. It coordinates community hiring activities and develops skilled workers from local community colleges.
J’s shares fell 2.85% on Nov 16 and 0.4% in the past three months versus the Zacks Technology Services industry’s 12.5% growth. Earnings estimates for fiscal 2023 also slipped downward by 1 penny to $7.33 per share.
Image Source: Zacks Investment Research
Nonetheless, this suggests 5.7% year-over-year growth on 8.6% higher revenues.
Solid Project Execution to Drive Growth
Jacobs is witnessing a rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. J has been ranked as No.1 in Wastewater Treatment by Engineering News-Record to provide solutions that conserve water while optimizing utility operations through reduced energy consumption and carbon footprint.
It has also been creating smart and connected spaces and places to support diverse regeneration and development projects, like a feasibility study for Rikers Island and The Ellinikon development in Greece.
Efficient project execution has been a key factor driving Jacobs’ performance over the last few quarters. A testament to this success is its robust backlog level, which was $28.9 billion at the end of the third quarter of fiscal 2023. This marks a 2.9% increase from the previous year’s levels.
Zacks Rank
Currently, Jacobs carries a Zacks Rank #4 (Sell).
3 Better-Ranked Construction Stocks Hogging the Limelight
Gates Industrial Corporation plc (GTES - Free Report) manufactures engineered power transmission and fluid power solutions.
GTES currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Its expected earnings growth rate for 2023 is 10.5%. The consensus mark for GTES’ 2023 earnings has moved north to $1.26 per share from $1.21 in the past 30 days.
Howmet Aerospace, Inc. (HWM - Free Report) is a global manufacturer of engineered products serving the aerospace, defense and commercial transportation industries. The company is expected to benefit from higher aircraft production rates and ease of supply chains in the transportation market.
Howmet Aerospace currently carries a Zacks Rank #2 (Buy). HWM’s earnings for 2023 are expected to grow by 27.1%. The consensus mark for HWM’s 2023 earnings has moved north to $1.78 per share from $1.77 in the past seven days.
Sterling Infrastructure, Inc. (STRL - Free Report) currently has a Zacks Rank #2. STRL delivered a trailing four-quarter earnings surprise of 14.9%, on average.
The Zacks Consensus Estimate for STRL’s 2023 sales and EPS indicates growth of 3.9% and 29.4%, respectively, from the previous year’s reported levels.