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 Design Masterplan for New Airport in Riyadh
Read MoreHide Full Article
Jacobs Solutions, Inc. (J - Free Report) is all set to provide concept masterplan validation, detailed masterplan design, runway design and other services to the King Salman International Airport Development Company.
Jacobs, along with architects Foster + Partners, won a competition to design the concept masterplan for King Salman International Airport, which covers an area of approximately 57 square kilometers. The airport will include six parallel runways, new terminals and real estate development in the surrounding area.
Impressively, the project will prioritize low-carbon design, use of renewable energy and technological innovation to deliver more sustainable and efficient operations, achieving LEED Platinum certification and offering a unique travel experience for visitors. Being part of Saudi Arabia's Vision 2030 for economic development and growth, the project will provide the additional passenger and freight capacity needed to support multiple giga-project developments.
By 2030, King Salman International Airport Development Company anticipates the airport will accommodate up to 100 million passengers annually.
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.
The solid project execution efforts are supported by its ongoing backlog growth. At the fiscal third-quarter end, the company reported a backlog of $30.6 billion, up from $28.9 billion a year ago. Book-to-bill was 1.29x at the third quarter of fiscal 2024-end. This reflects persistent solid demand for Jacobs' consulting services.
People & Places Solutions’ backlog was $19.28 billion, up from $17.5 billion reported in the year-ago period. The backlog at the Critical Mission Solutions segment was $8.45 billion, up from $8.1 billion a year ago.
Image Source: Zacks Investment Research
Shares of the company have gained 6.9% in the past three months compared with the Zacks Technology Services industry’s 5.1% growth. Increases in direct costs due to ongoing inflationary pressures of labor, materials and currency woes are a concern.
Nonetheless, J’s earnings estimates for fiscal 2024 moved up to $8.00 per share from $7.98 in the past 30 days, which suggests 11.1% year-over-year growth.
Quanta Services Inc. (PWR - Free Report) reported mixed results for second-quarter 2024, wherein adjusted earnings missed the Zacks Consensus Estimate, but revenues surpassed the same. Both metrics increased on a year-over-year basis.
Quanta's performance in the second quarter marks a strong base for the rest of 2024, characterized by impressive growth across key metrics. Moreover, the company has raised its 2024 guidance for major metrics, owing to the expected contributions from its recent acquisition of CEI.
KBR, Inc. (KBR - Free Report) reported mixed second-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. The top and bottom lines increased on a year-over-year basis.
KBR performed well across key metrics and expects this trend to continue for the rest of the year. Driven by robust performance in its core business, KBR raised its adjusted EBITDA and cash flow guidance for 2024.
Fluor Corporation (FLR - Free Report) reported mixed results for second-quarter 2024, with earnings missing the Zacks Consensus Estimate but revenues beating the same. On a year-over-year basis, both earnings and revenues increased, given solid contributions from the Urban Solutions segment.
In the second half of 2024, FLR will focus on deploying resources to its high-value project backlog and positioning the company to return capital to shareholders.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Jacobs (J) to Design Masterplan for New Airport in Riyadh
Jacobs Solutions, Inc. (J - Free Report) is all set to provide concept masterplan validation, detailed masterplan design, runway design and other services to the King Salman International Airport Development Company.
Jacobs, along with architects Foster + Partners, won a competition to design the concept masterplan for King Salman International Airport, which covers an area of approximately 57 square kilometers. The airport will include six parallel runways, new terminals and real estate development in the surrounding area.
Impressively, the project will prioritize low-carbon design, use of renewable energy and technological innovation to deliver more sustainable and efficient operations, achieving LEED Platinum certification and offering a unique travel experience for visitors. Being part of Saudi Arabia's Vision 2030 for economic development and growth, the project will provide the additional passenger and freight capacity needed to support multiple giga-project developments.
By 2030, King Salman International Airport Development Company anticipates the airport will accommodate up to 100 million passengers annually.
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.
The solid project execution efforts are supported by its ongoing backlog growth. At the fiscal third-quarter end, the company reported a backlog of $30.6 billion, up from $28.9 billion a year ago. Book-to-bill was 1.29x at the third quarter of fiscal 2024-end. This reflects persistent solid demand for Jacobs' consulting services.
People & Places Solutions’ backlog was $19.28 billion, up from $17.5 billion reported in the year-ago period. The backlog at the Critical Mission Solutions segment was $8.45 billion, up from $8.1 billion a year ago.
Image Source: Zacks Investment Research
Shares of the company have gained 6.9% in the past three months compared with the Zacks Technology Services industry’s 5.1% growth. Increases in direct costs due to ongoing inflationary pressures of labor, materials and currency woes are a concern.
Nonetheless, J’s earnings estimates for fiscal 2024 moved up to $8.00 per share from $7.98 in the past 30 days, which suggests 11.1% year-over-year growth.
Zacks Rank
Currently, Jacobs carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Recent Construction Releases
Quanta Services Inc. (PWR - Free Report) reported mixed results for second-quarter 2024, wherein adjusted earnings missed the Zacks Consensus Estimate, but revenues surpassed the same. Both metrics increased on a year-over-year basis.
Quanta's performance in the second quarter marks a strong base for the rest of 2024, characterized by impressive growth across key metrics. Moreover, the company has raised its 2024 guidance for major metrics, owing to the expected contributions from its recent acquisition of CEI.
KBR, Inc. (KBR - Free Report) reported mixed second-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. The top and bottom lines increased on a year-over-year basis.
KBR performed well across key metrics and expects this trend to continue for the rest of the year. Driven by robust performance in its core business, KBR raised its adjusted EBITDA and cash flow guidance for 2024.
Fluor Corporation (FLR - Free Report) reported mixed results for second-quarter 2024, with earnings missing the Zacks Consensus Estimate but revenues beating the same. On a year-over-year basis, both earnings and revenues increased, given solid contributions from the Urban Solutions segment.
In the second half of 2024, FLR will focus on deploying resources to its high-value project backlog and positioning the company to return capital to shareholders.