Jacobs (JEC) Wins Contract from ExxonMobil Chemical Co. - Analyst Blog

Jacobs Engineering Group Inc. ( JEC ) won a contract from ExxonMobil Chemical Company, part of Exxon Mobil Corporation ( XOM ), for providing engineering, procurement and construction services. The value of the contract was, however, not disclosed.

Per the contract, Jacobs will provide site enabling works and interconnections services for ExxonMobil Chemical Company's multi-billion dollar ethane cracker project in its Baytown, TX-based complex and associated premium product facilities in Mont Belvieu, TX. Jacobs' liabilities involve site preparation of 350 acres for the Baytown ethane cracker project and 100 acres for the Mont Belvieu product facilities.

A few days back, Jacobs won a contract from the Port Authority of Allegheny County to provide professional engineering design services for light rail transit systems in Pennsylvania. The value of the indefinite-delivery, indefinite-quantity contract was not disclosed. The Port Authority's light rail system, stretching over 26.2 miles, serves approximately 215,000 daily riders.

On the same day, Jacobs was awarded another contract, by NASA's Asteroid Redirect Mission, for providing conceptual design for an asteroid capture system. This comprises one of the four contracts specified by NASA for asteroid capture system concepts. The contract requires Jacobs to design a system which is capable of capturing an asteroid as wide as 10 meters and as heavy as 1,000 metric tons.

Further, the company received the 2014 James S. Cogswell Outstanding Industrial Security Achievement Award from the Defense Security Service for its Oxnard, CA-based facility.

Last month, Jacobs reported improved year over year results for fiscal third-quarter 2014 (ended Jun 27, 2014). Adjusted earnings came in at 84 cents per share, a penny higher than the year-ago figure of 83 cents. Also, revenues improved 4.9% year over year to $3.23 billion.

With a market capitalization of $6.8 billion, Jacobs hold a Zacks Rank #5 (Strong Sell). Two better-ranked stocks in the industry include Willdan Group, Inc. ( WLDN ) and VSE Corp. ( VSEC ). While Willdan Group sports a Zacks Rank #1 (Strong Buy), VSE Corp. 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.

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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