Jacobs Secures Two More Contracts in U.S. and U.K. - Analyst Blog


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Jacobs Engineering Group Inc. ( JEC ) recently added two more contracts to its existing pipeline. The first contract with BP plc ( BP ) requires Jacobs to provide engineering, design and procurement services for the Coker Heater Replacement Project at the Blaine, WA-based Cherry Point Refinery. The contract value was however not disclosed.

This is not Jacobs' first contract with BP. The continuous contract wins by the company reinforce customers' confidence in its project execution abilities.

Jacobs' second contract involves administering design, engineering and project management services for Brighton i360. Brighton i360 is a new visitors' attraction, currently under construction on the Brighton seafront in the U.K. The value of the contract was not disclosed.

Brighton i360, following the likes of the Eiffel Tower, the Empire State Building or the London Eye, enables a 360 degrees' view of the city. Jacobs was part of the team that built the London Eye 14 years ago on the banks of river Thames. It remains the U.K.'s most popular paid visitor attraction till date.

The same team has joined forces again to build the Brighton i360, a 540-foot-tall tower with a moving passenger pod that travels up a height of over 450 feet, providing a 360-degree view. The passenger pod is 59 feet in diameter with a capacity of 200 people. Post completion, the i360 will become the tallest visitor observatory in the U.K. outside London.

Jacobs will provide project management, engineering design, management (CDM) coordination, construction design and inspection body services for the program.

With a market capitalization of $7.2 billion, Jacobs holds a Zacks Rank #3 (Hold). Two better-ranked stocks in the industry include DR Horton Inc. ( DHI ) and Beazer Homes USA Inc. ( BZH ). While DR Horton sports a Zacks Rank #1 (Strong Buy), Beazer Homes holds a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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