May 21, 2024

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Jacobs (J) Wins 6-Year Professional Services Deal From WASD – April 10, 2024

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Jacobs Engineering Group Inc. (J Free Report) received a six-year professional services contract from the Miami-Dade County Water and Sewer Department (“WASD”).

Per the deal, J will design upgrades for the county’s three wastewater treatment plants, which will benefit approximately 2.4 million residents and hundreds of thousands of visitors each year. Jacobs will help modernize aging infrastructure, improve operational performance, mitigate climate change impacts and address the system’s resilience across the plants and system.

Jacobs’s digital solutions will help WASD reduce wastewater treatment costs and optimize operational labor.

Solid Project Execution to Drive Growth

Jacobs’s 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.

Jacobs has been serving Miami-Dade County over the past 50 years. Recently, it acted as owner’s representative for the $2.7 billion Ocean Outfall Legislation Program and provided engineering services for the South District Wastewater Treatment Plant.

J has been ranked as No.1 in wastewater treatment by Engineering News-Record. It has supported projects like the Thames Tideway Tunnel, the largest water infrastructure project undertaken in the U.K., Central Interceptor, the largest-ever wastewater project in New Zealand, Tuas Water Reclamation Plant in Singapore, and the Pure Water Project in California.

The solid project execution efforts are supported by its ongoing backlog growth. At the fiscal first-quarter end, the company reported a backlog of $29.6 billion, up 4.7% year over year. This reflects persistent solid demand for Jacobs’ consulting services. Of this backlog, People & Places Solutions’ backlog was $17.86 billion in the fiscal first quarter compared with $17.24 billion in the year-ago period. The Divergent Solutions segment’s backlog was $3.11 billion, up from $3.08 billion a year ago.

Zacks Investment Research
Image Source: Zacks Investment Research

J’s shares have gained 13% so far this year compared with the Zacks Technology Services industry’s 15.2% growth.

Zacks Rank & Stocks to Consider

Currently, Jacobs carries a Zacks Rank #3 (Hold).

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 delivered a trailing four-quarter earnings surprise of 26.5%, on average. The Zacks Consensus Estimate for APP’s 2024 sales and earnings per share (EPS) indicates growth of 23.2% and 153.1%, respectively, from the prior-year levels.

Bit Digital, Inc. (BTBT Free Report) currently sports a Zacks Rank of 1.

BTBT delivered a trailing four-quarter earnings surprise of 80.7%, on average. The Zacks Consensus Estimate for its 2024 sales and EPS indicates growth of 117.4% and 112.5%, 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 111.5%, on average. The Zacks Consensus Estimate for DUOL’s 2024 sales and EPS indicates growth of 36.4% and 294.3%, respectively, from the prior-year levels.


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