Yesterday, Jacobs Engineering Group Inc. (JEC) received a $215 million contract for delivering technical consultancy services to Highways Agency, which manages, maintains and improves England’s motorways and major roads. The contract is for 18 months and has an option for extension by another year.

The framework provides the Agency with access to technical consultancy advice in areas ranging from research and development to the implementation of standards and guidance.

Jacobs also received a $1.1 million 3-year task order from Marine Corps Systems to support the program manager for training systems on culture and language.

Jacobs will provide technical support for strategic planning and investment decision-making, research and developmental efforts, upgrades and modifications to existing programs, hardware and software testing as well as fielding and sustenance of training products and technologies.

Jacobs, one of the world’s largest providers of technical, professional and construction services with annual revenue over $12 billion, is expected to benefit from its well diversified markets, geography and services. Moreover, cost-reduction initiatives have put the company in a dominant position despite difficult economic circumstances. SG&A expenses fell 22.67% year over year during the third quarter and are expected to help Jacobs in weathering margin pressures in future.

With $1 billion cash on the balance sheet, the company can make strategic acquisitions to fuel growth. A rock solid balance sheet and expectations to grow at a compound rate of 15% over the long term gives Jacobs a competitive advantage.

Zacks Investment Research
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