Jacobs Engineering on Winning Streak - Analyst Blog
April 11 2012 - 12:33PM
Zacks
Jacobs Engineering Group Inc. (JEC) is on a
roll. Shortly after winning a contract from the U.S. Army, the
company has now notched a contract from U.S Air Force Academy
(USAFA). Robert Norfleet, Vice President of Jacobs, once again took
the honor of announcing the new deal.
The new Air Force contract encompasses Jacobs’ efficient
responsibility to provide geospatial and software engineering
services to USAFA. The contract has a five-year blanket purchase
agreement.
As per the contract specification, Jacobs’ information
technology service will support the Institute for Information
Technology Applications (IITA) Program at the USAFA and is
estimated to be valued around $50 million,
On the same day, Jacobs’ announced another agreement with
Russia-based Afipsky Refinery to develop a basic engineering
package as a part of refinery extension project. The project
includes an amine regenerator unit, sour water stripper unit and a
sulfur recovery unit (SRU) of capacity 55 tons per day (TPD).
Managementproudly announced the contract win to keep up with
Jacobs’ SRU designs across 450 units around the world since 1985.
Of these, the global leader in SRU designing holds a record of 15
SRU's established in Russia and several countries in the former
Soviet Union. The value of this contract is, however, not disclosed
yet.
Series of contracts win depicts the company’s growing popularity
within engineering and construction platform worldwide. This is
expected to fuel Jacobs’ growth, thereby tightening market for the
peers, such as Fluor Corporation (FLR) and
Foster Wheeler AG (FWLT).
We currently have a long-term Neutral recommendation on the
stock. Also, the company maintains a Zacks #3 Rank, which implies a
short-term (1-3 months) Hold rating.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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