Yahoo Finance Jacobs (J) to Support LAWA's Capital Improvement Program
Jacobs Engineering Group Inc. J announced that it has been chosen as a lead consultant by the Los Angeles World Airports (“LAWA”) to provide on-call, task order-based and professional services.
Through a Multiple Award Task Order Contract (MATOC), J, along with other 14 lead consultants, will support LAWA's Capital Improvement Program. Also, they will modernize Los Angeles International Airport and Van Nuys Airport, which will enrich passengers’ travel experiences.
Jacobs will engage more than 30 local minority businesses on their respective task orders, which will help provide opportunities for small and disadvantaged business growth in the long run.
MATOC is the largest award of its kind in the City of Los Angeles' history.
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 second-quarter end, the company reported a backlog of $29.4 billion, up 2% year over year. This reflects persistent solid demand for Jacobs' consulting services. People & Places Solutions’ backlog was $17.93 billion compared with $17.56 billion in the year-ago period. The backlog at the Critical Mission Solutions segment was $8.45 billion, up from $8.14 billion a year ago.
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Shares of the company have gained 3.3% in the year-to-date period compared with the Zacks Technology Services industry’s 15.1% growth. Although J’s shares have underperformed the industry, its earnings per share (EPS) estimates for fiscal 2024 suggest 10.8% year-over-year growth.
Zacks Rank & Stocks to Consider
Currently, Jacobs carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks in the same space:
AppLovin Corporation APP 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 60.9%, on average. The Zacks Consensus Estimate for APP’s 2024 sales and EPS indicates growth of 31.7% and 202%, respectively, from the prior-year levels.
Duolingo, Inc. DUOL currently sports a Zacks Rank of 1. DUOL delivered a trailing four-quarter earnings surprise of 115.2%, on average.
The Zacks Consensus Estimate for DUOL’s 2024 sales and EPS indicates growth of 37.8% and 397.1%, respectively, from the prior-year levels.
SPX Technologies, Inc. SPXC presently flaunts a Zacks Rank of 1. SPXC has a trailing four-quarter earnings surprise of 13.9%, on average.
The Zacks Consensus Estimate for SPXC’s 2024 sales and EPS indicates an increase of 14.7% and 24.4%, respectively, from the year-ago period’s reported levels.
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Duolingo, Inc. (DUOL) : Free Stock Analysis Report
