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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