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Jacobs (J) Secures Major Contract to Expand FUJIFILM Site
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Jacobs Solutions, Inc. (J - Free Report) has been selected by FUJIFILM Diosynth Biotechnologies to support the delivery of a $1.2 billion expansion project for their large-scale cell culture contract manufacturing site in Holly Springs, NC. This significant expansion builds on the initial collaboration started in 2021, further cementing the partnership between the two companies.
Jacobs will provide comprehensive engineering, procurement, and construction management services for this latest phase. The project includes adding 8 x 20,000-liter cell culture bioreactors and approximately 400,000 square feet of manufacturing space. The first phase of construction is set to be completed by 2025, with the entire project aiming for a 2028 finish.
Once complete, the Holly Springs site will become one of the largest end-to-end cell culture contract manufacturing facilities in North America. This project will significantly boost FUJIFILM Diosynth Biotechnologies’ manufacturing capacity for biologic therapeutics and medicines, providing comprehensive services from drug substance manufacturing to packaging and labeling for global biopharmaceutical customers.
This expansion marks a significant milestone for Jacobs, showcasing its expertise and strengthening its position in the biomanufacturing sector.
Share Price Performance
Jacobs' efficient project execution has been crucial in boosting the company's performance in recent quarters. The company's continuous success in securing new contracts highlights this proficiency.
Image Source: Zacks Investment Research
Shares of the company have gained 7.4% so far this year compared with the Zacks Technology Services industry’s 17% 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.
This solid project execution is bolstered by ongoing backlog growth. At the end of the fiscal second quarter, Jacobs reported a backlog of $29.4 billion, representing a 2% increase year over year. This growth reflects a sustained strong demand for Jacobs' consulting services. Specifically, the People & Places Solutions segment had a backlog of $17.93 billion in the fiscal second quarter, up from $17.56 billion in the year-ago quarter. The Critical Mission Solutions segment reported a backlog of $8.45 billion, up from $8.14 billion a year ago.
Zacks Rank & Stocks to Consider
Currently, Jacobs carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks in the same space:
APP shares have gained 108.6% year to date (YTD). 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 - Free Report) currently sports a Zacks Rank of 1. DUOL delivered a trailing four-quarter earnings surprise of 115.2%, on average. Shares of the company have lost 8% YTD.
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 - Free Report) presently flaunts a Zacks Rank of 1. SPXC has a trailing four-quarter earnings surprise of 13.9%, on average. Shares of the company have gained 39.7% YTD.
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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Jacobs (J) Secures Major Contract to Expand FUJIFILM Site
Jacobs Solutions, Inc. (J - Free Report) has been selected by FUJIFILM Diosynth Biotechnologies to support the delivery of a $1.2 billion expansion project for their large-scale cell culture contract manufacturing site in Holly Springs, NC. This significant expansion builds on the initial collaboration started in 2021, further cementing the partnership between the two companies.
Jacobs will provide comprehensive engineering, procurement, and construction management services for this latest phase. The project includes adding 8 x 20,000-liter cell culture bioreactors and approximately 400,000 square feet of manufacturing space. The first phase of construction is set to be completed by 2025, with the entire project aiming for a 2028 finish.
Once complete, the Holly Springs site will become one of the largest end-to-end cell culture contract manufacturing facilities in North America. This project will significantly boost FUJIFILM Diosynth Biotechnologies’ manufacturing capacity for biologic therapeutics and medicines, providing comprehensive services from drug substance manufacturing to packaging and labeling for global biopharmaceutical customers.
This expansion marks a significant milestone for Jacobs, showcasing its expertise and strengthening its position in the biomanufacturing sector.
Share Price Performance
Jacobs' efficient project execution has been crucial in boosting the company's performance in recent quarters. The company's continuous success in securing new contracts highlights this proficiency.
Image Source: Zacks Investment Research
Shares of the company have gained 7.4% so far this year compared with the Zacks Technology Services industry’s 17% 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.
This solid project execution is bolstered by ongoing backlog growth. At the end of the fiscal second quarter, Jacobs reported a backlog of $29.4 billion, representing a 2% increase year over year. This growth reflects a sustained strong demand for Jacobs' consulting services. Specifically, the People & Places Solutions segment had a backlog of $17.93 billion in the fiscal second quarter, up from $17.56 billion in the year-ago quarter. The Critical Mission Solutions segment reported a backlog of $8.45 billion, up from $8.14 billion a year ago.
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 - Free Report) currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
APP shares have gained 108.6% year to date (YTD). 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 - Free Report) currently sports a Zacks Rank of 1. DUOL delivered a trailing four-quarter earnings surprise of 115.2%, on average. Shares of the company have lost 8% YTD.
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 - Free Report) presently flaunts a Zacks Rank of 1. SPXC has a trailing four-quarter earnings surprise of 13.9%, on average. Shares of the company have gained 39.7% YTD.
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.