Published on 23 May 2024 on Zacks via Yahoo Finance
Jacobs (J) Wins 5-Year Deal for Florida Public Transit Expansion
Jacobs Engineering Group Inc. J received a five-year, $17.5 million contract from the Broward County Transportation Department. J will provide program management services for the latter’s first-ever public transit expansion program.This 30-year, $4.4 billion program will transform the county's transportation infrastructure into a multimodal transit system with a new light rail route connecting Fort Lauderdale-Hollywood International Airport to Port Everglades in Florida.Per the deal, Jacobs will manage all program services, from developing design criteria for the initial rail transit project to identifying ways to optimize system maintenance and operations. Along with light rail, the program includes bus rapid transit and commuter rail, as well as transit-oriented development and affordable housing.
Solid Project Execution to Drive Growth
Jacobs's 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.Ranked as No.1 in program management by Engineering News-Record, Jacobs has delivered programs like New York City's Grand Central Madison project, which transformed the busiest commuter railroad in the United States., the Thames Tideway Tunnel, one of the largest water infrastructure projects ever undertaken in the U.K., and Etihad Rail, one of the largest infrastructure efforts in the United Arab Emirates.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. Of this backlog, 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.