Jacobs (J) Wins Contract From PUB to Develop Kranji WRP

Core Insights - Jacobs Solutions, Inc. is set to provide professional engineering services for the development of the Kranji Water Reclamation Plant in Singapore, which is expected to be operational by 2035 [7] - The Kranji WRP will have an initial treatment capacity of 120 million imperial gallons of used water per day and will include a fully integrated 50 mgd NEWater Factory [2] - Jacobs has reported a backlog of $29.4 billion, reflecting a 2% year-over-year increase, indicating strong demand for its consulting services [9] Company Performance - Jacobs' project execution efficiency has significantly contributed to its recent performance, evidenced by the continuous success in securing new contracts [3] - The backlog for the People & Places Solutions segment was $17.93 billion, up from $17.56 billion year-over-year, while the Critical Mission Solutions segment backlog increased to $8.45 billion from $8.14 billion [9] - Despite underperforming the Zacks Technology Services industry, Jacobs' earnings per share estimates for fiscal 2024 suggest a year-over-year growth of 10.8% [13] Market Position - Jacobs currently holds a Zacks Rank of 4 (Sell), indicating a less favorable market position compared to its peers [4] - The company's shares have gained 8.4% year-to-date, while the industry has seen a growth of 16.4% [13]