Welcome to our dedicated page for Jacobs Solutions news (Ticker: J), a resource for investors and traders seeking the latest updates and insights on Jacobs Solutions stock.
Jacobs Solutions Inc. (NYSE: J) is a global leader in providing comprehensive engineering, design, procurement, construction, and maintenance services. With a workforce of approximately 60,000 employees, Jacobs Solutions operates across diverse sectors, including water, transportation, healthcare, technology, and chemicals. The firm also excels in delivering cutting-edge cyber engineering and security solutions to industrial, commercial, and government clients worldwide.
In fiscal 2023, Jacobs Solutions reported robust financial performance, generating $16.4 billion in revenue and $1.3 billion in adjusted operating income. The company's expertise extends to areas such as water treatment and desalination, where it consistently ranks at the top of Engineering News Record's list of design firms.
One of the company's recent significant achievements is its selection by Water Corporation in Western Australia to design, build, operate, and maintain the Alkimos Seawater Desalination Plant in Perth. This project, in alliance with ACCIONA and Water Corporation, aims to produce up to 26 billion gallons of drinking water annually, addressing water scarcity driven by climate change and population growth.
Jacobs Solutions is also heavily involved in other high-profile projects, including a collaboration with the UK Atomic Energy Authority on engineering design services for fusion energy research, and the development of a new nuclear power plant design for the UK's National Nuclear Laboratory. Moreover, the company is managing a large-scale wastewater treatment plant expansion in Hamilton, Ontario, and enhancing Omaha's wastewater collection network with its Aqua DNA digital solution.
In terms of strategic development, Jacobs is progressing towards the separation and merger of its Critical Mission Solutions and portions of its Divergent Solutions business with Amentum, expected to close in the second half of fiscal 2024. This move is aimed at optimizing the company’s focus and creating more shareholder value.
For the latest updates, news, and developments about Jacobs Solutions Inc., visit their official website or follow them on Facebook, Instagram, LinkedIn, and X.
Jacobs (NYSE: J) has completed the spin-off of its Critical Mission Solutions and Cyber & Intelligence government services businesses, which have merged with Amentum Parent Holdings to form Amentum Holdings, Inc. (NYSE: AMTM). This strategic move transforms Jacobs into a more focused, higher-value company specializing in critical infrastructure and sustainability solutions.
The simplified Jacobs will concentrate on high-growth sectors such as advanced manufacturing, cities & places, energy, environmental, life sciences, transportation, and water. The company retains its innovative data solutions and digital technologies business, important for delivering digitally enabled critical infrastructure solutions.
Post-transaction, Jacobs' shareholders hold approximately 51% of Amentum's stock, with Jacobs retaining a 7.5% stake. An additional 4.5% is held in escrow as contingent consideration, subject to the Separated Business meeting certain fiscal year 2024 operating profit targets.
Jacobs (NYSE:J) has announced a quarterly cash dividend of $0.29 per share of common stock. The dividend will be paid on November 22, 2024, to shareholders of record at the close of business on October 25, 2024. This decision was made by Jacobs' Board of Directors, demonstrating the company's commitment to returning value to its shareholders.
Jacobs (NYSE:J) has been selected by the New York Metropolitan Transportation Authority (MTA) as the program management consultant for the Long Island Rail Road (LIRR) station improvements project. The project focuses on modernizing three of New York City's busiest stations: Babylon, Forest Hills, and Hollis.
Jacobs will provide program management services, overseeing construction and commercial management, design compliance, and risk identification. The project aims to bring these stations into Americans with Disabilities Act (ADA) compliance, improving accessibility and passenger safety.
Key improvements include installation and rehabilitation of ADA-compliant elevators, escalators, ramps, platform and canopy replacements, as well as architectural and wayfinding upgrades. The total contract value is estimated at $227.5 million, with final completion anticipated in 2026.
Jacobs Solutions has announced key dates for the spin-off of its Critical Mission Solutions and Cyber & Intelligence government services businesses. The record date is set for September 23, 2024, and the distribution date for September 27, 2024. This spin-off will merge these businesses with Amentum, creating a new publicly traded company on the NYSE under the ticker symbol AMTM.
Jacobs shareholders will receive one share of Amentum common stock for every Jacobs share held on the record date. Post-transaction, Jacobs shareholders will own 51% of Amentum, with Jacobs retaining 7.5%. An additional 4.5% will be held in escrow as contingent consideration. Jacobs intends to dispose of its stake in Amentum within 12 months of the distribution.
Jacobs (NYSE:J) has elected Michael Collins to its Board of Directors, effective September 23, 2024. Collins, currently a Partner at Bain & Company, brings extensive experience in global management consulting. His expertise includes developing growth strategies, evaluating acquisitions and divestitures, and implementing organizational change across various industries.
CEO Bob Pragada expressed enthusiasm about Collins' appointment, highlighting the value of his insights for Jacobs' expansion in high-margin consulting and advisory services. Collins holds a bachelor's degree in accounting from Loyola University, Chicago, and an MBA from Harvard Business School.
Jacobs, with $16 billion in annual revenue and a workforce of over 60,000, provides professional services in consulting, technical, scientific, and project delivery sectors for both government and private clients.
Jacobs (NYSE:J) has announced significant leadership changes. Bob Pragada, the current CEO, will also assume the role of Chair of the Board upon the separation of the company's Critical Mission Solutions and Cyber and Intelligence businesses. This marks Pragada as the fourth Chair in Jacobs' history. Steve Demetriou, the current Chair, will transition to Amentum as their new Executive Chair.
Additionally, Louis Pinkham has been elected as the new Lead Independent Director, replacing Chris Thompson who will move to the Amentum Board. These changes reflect Jacobs' commitment to continued growth and innovation in its core businesses, which generate approximately $16 billion in annual revenue with a workforce of over 60,000 employees.
Jacobs (NYSE:J) has been chosen by King Salman International Airport Development Company to provide concept masterplan validation, detailed masterplan design, runway design, and other services for the King Salman International Airport in Riyadh, Saudi Arabia. The project, part of Saudi Arabia's Vision 2030, will cover an area of 57 square kilometers and include six parallel runways, new terminals, and real estate development.
The airport aims to accommodate up to 100 million passengers annually by 2030. It will prioritize low-carbon design, renewable energy, and technological innovation to achieve LEED Platinum certification. Jacobs and Foster + Partners previously won a competition to design the concept masterplan for the airport.
Jacobs (NYSE:J) has been awarded an extension as program management consultant for the District Department of Transportation's (DDOT) DC Streetcar project. The two-year extension expands Jacobs' scope to include oversight of operations, maintenance, on-site engineering, safety planning, and communications. The 2.4-mile electric streetcar route serves a mixed-use corridor in Washington, D.C., connecting communities and providing an eco-friendly transit option.
The project has seen daily ridership reach up to 3,500 passengers, reviving D.C.'s streetcar history that dates back to the 1880s. Jacobs, ranked No.1 in Program Management by Engineering News-Record, brings its experience from global projects like Expo 2020 Dubai and the Thames Tideway Tunnel to support DDOT in enhancing mobility, connectivity, and economic opportunities along the streetcar corridor.
Amentum, a global engineering and technology solutions provider, is hosting its capital markets day at the New York Stock Exchange. The event will feature presentations from the executive leadership team discussing the company's strategy, financial outlook, and capabilities. Key highlights include:
1. The planned combination with Jacobs Solutions Inc.'s Critical Mission Solutions and Cyber & Intelligence businesses through a Reverse Morris Trust transaction.
2. Post-transaction leadership team: Steve Demetriou (Executive Chair), John Heller (CEO), Travis Johnson (CFO), and Steve Arnette (COO).
3. Projected revenue for fiscal year 2025 of approximately $14 billion.
4. Combined backlog of $47 billion as of September 29, 2023.
5. Focus on advanced engineering and technology solutions for complex missions in science, security, and sustainability.
Jacobs Solutions Inc. (NYSE: J) reported its fiscal Q3 2024 earnings, showcasing strong consolidated margins and record backlog growth in its People & Places Solutions (P&PS) segment. Key highlights include:
- Cash flow from operations: $483 million
- Adjusted EPS from continuing operations: $1.96, up 11% y/y
- Total backlog: $30.6 billion, up 6% y/y
- P&PS backlog: $19.3 billion, up 10.2% y/y
- P&PS operating margin: 10.6% on gross revenue, 15.3% adjusted
The company narrowed its fiscal 2024 adjusted EPS outlook to $7.85-$8.05, representing 10% growth y/y at the mid-point. Jacobs is progressing with its planned separation of Critical Mission Solutions and Cyber & Intelligence businesses, expected to close in September 2024.
FAQ
What is the current stock price of Jacobs Solutions (J)?
What is the market cap of Jacobs Solutions (J)?
What services does Jacobs Solutions Inc. provide?
In which sectors does Jacobs Solutions operate?
How much revenue did Jacobs Solutions generate in fiscal 2023?
What is a significant recent project by Jacobs Solutions?
How many employees work at Jacobs Solutions?
What are some key collaborations of Jacobs Solutions?
What strategic move is Jacobs Solutions currently making?
Where can I find more updates about Jacobs Solutions?
What recognition does Jacobs have in water treatment?
What digital solutions does Jacobs provide for wastewater management?
