Jacobs Wins US Department of State Overseas Buildings Operations Support Contract

Rhea-AI Summary

Jacobs, listed under ticker J, has secured a third consecutive architecture and engineering support services contract with the U.S. Department of State's Bureau of Overseas Buildings Operations. This Indefinite Delivery/Indefinite Quantity (IDIQ) contract is valued at up to $250 million over five years, reinforcing Jacobs' long-standing partnership with the OBO. With over 35 years of experience, Jacobs aims to improve processes, conduct facility surveys, and provide project-specific support, leveraging their global presence and expertise.

Positive

• Secured a contract worth up to $250 million over five years.
• Third consecutive contract with the Department of State, indicating strong client retention.
• More than 35 years of experience with OBO enhances credibility.

Negative

• None.

DALLAS, Nov. 16, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was selected for a third consecutive architecture and engineering support services contract to continue supporting the U.S. Department of State Bureau of Overseas Buildings Operations (OBO) by providing program-level process- and procedure-improvement support, existing facilities surveys and analyses, and other project-specific support such as master plans, security mitigation studies, site expansion studies, project phasing analysis and historic structures surveys. OBO estimates this Indefinite Delivery/Indefinite Quantity (IDIQ) contract value at up to $250 million over five years.

"We continue to leverage our capabilities, tools and technology to drive value, increase resiliency and sustainability, lower risk and provide best-in-class stewardship of OBO's worldwide portfolio," said Jacobs Federal & Environmental Solutions Senior Vice President and General Manager Tim Byers. "By leveraging our global footprint to execute comprehensive professional services, we bring a comprehensive set of qualifications and experience to all tasks anticipated under this contract."

Jacobs has provided design, construction management, and support services to OBO for more than 35 years, successfully executing individual project-specific contracts, design and support service IDIQ contracts, and commissioning IDIQ contracts in more than 90 countries.

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $14 billion in revenue and a talent force of approximately 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended October 2, 2020, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended July 2, 2021, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For press/media inquiries:
Kerrie Sparks
214.583.8433

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-wins-us-department-of-state-overseas-buildings-operations-support-contract-301425166.html

SOURCE Jacobs

FAQ

What is the value of Jacobs' new contract with the U.S. Department of State?

The new contract is valued at up to $250 million over five years.

How many years has Jacobs been working with the Bureau of Overseas Buildings Operations?

Jacobs has been working with the Bureau for over 35 years.

What services will Jacobs provide under the new contract?

Jacobs will provide program-level process support, facility surveys, master plans, and security studies.

What is Jacobs' stock symbol?

Jacobs' stock symbol is J.

When was the press release about Jacobs' contract issued?

The press release was issued on November 16, 2021.