Jacobs (JEC) Wins 6-Year Contract From Highways England
Zacks Investment Research | Dec 11, 2018 09:03PM ET
Jacobs Engineering Group Inc. (NYSE:JEC) recently clinched a six-year contract from Highways England to support its delivery partnership framework. Jacobs will support Highways England in creating a modern tactical road network ensuring safety and efficiency of work to enhance travelers’ experience.
Meanwhile, Jacobs received contract to work in both the North and East regions. The company, in partnership with Costain will develop, design and construct capital road projects that are part of the Regional Investment Programme during Road Period 1 (2015-2020) and Road Period 2 (2020-2025).
The move highlights Jacob’s strong regional relationships and expertise in designing and planning projects. In fact, the company has been supporting Highways England's National Infrastructure and Regional Investment Programs and its Smart Motorway Programme along with programs for Transport Scotland and the Welsh Government in the U.K.
Rationale Behind
The contract win is reflective of Jacob’s ability to execute different projects in the most efficient manner. It also highlights the company’s efforts to earn high-end and differentiated Buildings, Infrastructure and Advanced Facilities (BIAF) deals.
Meanwhile, the BIAF segment accounted for more than 41% of total revenues in fiscal 2018. In the fourth quarter of 2018, revenues at the segment increased 67.6% year over year. Backlog at the end of the quarter inched up 67.6%.
Jacobs leads the global professional services sector, providing solutions for a sustainable environment. It offers a broad array of services, including scientific, technical, professional and construction. It also efficiently manages business programs for industrial, commercial, government and infrastructure sectors. Owing to its leading position, the company recorded $15 billion revenues in fiscal 2018 and the upward trend in revenues is likely to continue.
Meanwhile, shares of the company have declined 12.1% comparing favorably with the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.