Published on 30 May 2024 on Zacks via Yahoo Finance

Jacobs (J) to Support LAWA's Capital Improvement Program

Jacobs Engineering Group Inc. J announced that it has been chosen as a lead consultant by the Los Angeles World Airports (“LAWA”) to provide on-call, task order-based and professional services.Through a Multiple Award Task Order Contract (MATOC), J, along with other 14 lead consultants, will support LAWA's Capital Improvement Program. Also, they will modernize Los Angeles International Airport and Van Nuys Airport, which will enrich passengers’ travel experiences.Jacobs will engage more than 30 local minority businesses on their respective task orders, which will help provide opportunities for small and disadvantaged business growth in the long run.MATOC is the largest award of its kind in the City of Los Angeles' history.

Solid Project Execution to Drive Growth

Jacobs' 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.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. 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.