Jacobs (J) to Manage Water Treatment Plant in Connecticut
Jacobs Solutions Inc. J secured a $25-million contract to operate and maintain the 38 million gallon-per-day (mgd) conventional surface water treatment plant in Waterbury, CT.
Per this 10-year agreement, Jacobs will provide engineering services and support for overall facility enhancements, the sludge system, water quality lab and treatment processes.
In July 2023, Jacobs initiated full operations and maintenance of the plant. Per this agreement, the company will use supervisory control and data acquisition and telemetry systems to enhance digital maintenance management. Improvements to the chemical dosing system, water filtration and sludge handling facilities are set to enhance the overall treatment process.
For the past five years, Jacobs has managed the 27-mgd wastewater treatment facility in Waterbury. These facilities collectively serve 125,000 Connecticut residents in Thomaston, Waterbury, Wolcott and Watertown, providing essential water and wastewater services. The recent agreement marks as a strategic move toward leveraging digital solutions for expanded services and improved water treatment.
With decades of experience as a water industry leader, Jacobs has developed a comprehensive programmatic delivery model encompassing consulting, engineering, operations, maintenance and intelligent technology applications. This model serves clients effectively and benefits consumers by enhancing water quality, reliability and cost-efficiency for the city.
Robust Backlog
In the past three months, shares of Jacobs have gained 12.8% compared with the industry’s 3.9% fall. Jacobs has been witnessing a surge in demand for its consulting services across diverse sectors, encompassing infrastructure, water management, environmental solutions, space exploration, broadband, cybersecurity, and life sciences. The company's recent impressive performance owes much to its effective project execution, underscored by a consistent stream of contract wins.
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A testament to this success is the robust backlog level, which stood at $28.9 billion at the end of third quarter of fiscal 2023. This marks a 2.9% increase from the previous year’s levels. Within this backlog, the Critical Mission Solutions segment contributed $8.097 billion. People and Places Solutions segment contributed $17.5 billion during the third quarter of fiscal 2023.
Zacks Rank & Key Picks
Jacobs currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Business Services sector are TriNet Group, Inc. TNET, Parsons Corporation PSN and SPX Technologies, Inc. SPXC.
TriNet currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. TNET delivered a four-quarter average earnings surprise of 84%. The company’s shares have risen 50.2% in the past year.
The Zacks Consensus Estimate for TNET’s 2023 sales and earnings per share (EPS) indicates a decline of 4.7% and 2.7%, respectively, from the prior-year reported figures.
Parsons currently flaunts a Zacks Rank of #1. PSN has a four-quarter average earnings surprise of 5.2%. The stock has risen 33.3% in the past year.
The Zacks Consensus Estimate for PSN’s 2023 sales and EPS indicates growth of 18.7% and 23.2%, respectively, from the prior-year reported figures.
SPX Technologies currently sports a Zacks Rank of #1. SPXC has a trailing four-quarter earnings surprise of 30.8% on average. Shares of the company have increased 37.7.9% in the past year.
The Zacks Consensus Estimate for SPXC’s fiscal 2023 sales and EPS indicates a decline of 19% and 37.4%, respectively, from the year-ago reported levels.
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