Jacobs Solutions Inc. - J STOCK NEWS

Jacobs has secured a four-year Design & Project Services Framework with National Grid in the U.K. This framework aims to enhance the resilience and capacity of the electricity transmission network, supporting the country's net-zero and decarbonization goals. Jacobs will deliver a variety of services, including feasibility studies, detailed design, and project assurance across 10 Lots in National Grid's Transmission portfolio. The partnership extends Jacobs' 15-year collaboration with National Grid and emphasizes a commitment to innovative and efficient project solutions.

Jacobs (NYSE:J) has been chosen as the full lifecycle delivery partner for infrastructure renewal projects at various facilities operated by the U.K.'s National Nuclear Laboratory (NNL). The contract, valued at $12 million (£10 million), spans an initial one-year term with options for three additional extensions. Key responsibilities include design, build, and refurbishment work at NNL's Windscale and Central Laboratories. Jacobs aims to enhance the U.K.'s nuclear research capabilities while supporting job creation in the northwest of England.

Jacobs (NYSE:J) has secured a contract with Elenergy to conduct a feasibility study for a green hydrogen production and import facility in South Korea. This initiative supports South Korea's ambition to transition to a clean energy economy, targeting hydrogen to comprise 33% of energy consumption by 2050. The facility will utilize 100% renewable energy from the Chujin Offshore Wind Farm. Jacobs will perform market analysis and technology reviews to drive this project forward, enhancing its energy transition portfolio in Asia.

Jacobs (NYSE:J) has completed master planning services for Hacienda Patrón tequila distillery in Jalisco, Mexico, partnering with PA Consulting to align with Bacardi's sustainability goals. The plan focuses on achieving net-zero waste, enhancing resource recycling, and minimizing carbon emissions. Innovative strategies proposed include reusing agave fiber for packaging and improving wastewater processes. With an aim to quadruple production by FY2030, Jacobs’ insights aim to strengthen Patrón's operations while meeting growing demand. Jacobs reported $14 billion in revenue, employing over 55,000 staff.

Jacobs announces a leadership transition, effective January 24, 2023, where Bob Pragada, currently President and COO, will take over as CEO from Steve Demetriou, who continues as Executive Chair. Demetriou highlights Pragada's track record and leadership skills, stressing the company's solid growth trajectory. Jacobs has experienced significant transformation under Demetriou, yielding a market cap increase of around $11 billion and a total shareholder return of 236% since 2015. Pragada aims to further enhance Jacobs' strategic plans and operations.

The Board of Directors of Jacobs has declared a quarterly cash dividend of $0.23 per share, payable on October 28, 2022. Shareholders of record as of September 30, 2022 will receive this dividend. Jacobs reported $14 billion in revenue and employs over 55,000 people, providing a range of professional services to both government and private sectors. This move underscores the company’s commitment to returning value to its shareholders while continuing to tackle critical global challenges.

Jacobs (NYSE:J) has been appointed as a design consultant for Northern Ireland Water's Major Project Partnership Framework, which aims to manage a $1.5 billion capital program for water and wastewater projects. This framework will cover vital upgrades, including the Belfast Wastewater Treatment Works, and will last for four years with an option for extension. Jacobs aims to enhance essential water and sanitation services for approximately 840,000 households in Northern Ireland, leveraging its extensive experience in similar projects across the U.K.

Jacobs (NYSE:J) will provide design services for the Eastern New Mexico Water Utility Authority's rural water supply system, which aims to supply renewable surface water to 55,000 residents and Cannon Air Force Base. Estimated to cost $940 million, the project will replace groundwater withdrawals from the declining Ogallala Aquifer. Funding from the Infrastructure Investment and Jobs Act amounts to $160 million this year, accelerating the design and construction phases over the next five to eight years. Digital tools will enhance project efficiency.

Jacobs Solutions Inc. will begin trading on August 29, 2022, marking a shift to a new holding company structure. This rebranding aligns with the company's identity as a global technology solutions leader. The transition is tax-free for shareholders, who will see no change in their share ownership. Existing stockholders will automatically own shares in Jacobs Solutions Inc. at a 1:1 ratio. This move will not have material operational or financial impacts, and the stock will continue trading under the existing symbol J on the NYSE.