Jacobs Engineering Group Inc.
Company Summary
Description
As a professional services company, our talented employees are the key to developing and sustaining relationships: they invest time with our clients, understand their businesses, retain that accumulated client knowledge and pass it forward, and ultimately, our people deliver the work that adds value to our clients’ businesses. We are committed to providing our employees with an inclusive environment and meaningful work through which they can make lasting contributions as they develop and grow their careers with us. This core value is our client-focused value. It describes our objective to create and maintain ongoing business relationships with our clients. We deliver superior and measurable value that exceeds what our clients can find elsewhere. We serve as their advocates and support them in their global aspirations. In simplest terms, our “relationship” value establishes an expectation of service, trust, and business partnership.Website
http://www.jacobs.com/workforus/about/index.aspxFinancial Data:
NYSE:JEC from Google FinanceTickers:
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JEC - New York Stock Exchange
Related Entities
Recent news
- 3/21/2019 - WorleyParsons Set to... (subscriber access)
- 3/19/2019 - Mexico Invites International Firms to Bid on the Construction of Pemex's $8 Billion Oil Refinery in Tabasco, Mexico
- 10/24/2018 - Jacobs Engineering... (subscriber access)
- 8/8/2018 - Jacobs Awarded Contract... (subscriber access)
- 1/10/2018 - BP Selects Jacobs to Provide EPCM Services on Khazzan Tight Gas Project in Oman
Company Transactions
Date: 7/16/2019
Type: Acquisition
SELLERS:
Saudi Arabian Oil Co. (Saudi Aramco)
Jacobs Engineering Group Inc.
Saudi Aramco - Jacobs JV
DETAILS:
VOLUMES: 40 Percent
NOTES:
Saudi Arabia's sovereign wealth fund acquired a 40% stake in a joint venture between Aramco and Jacobs, comprised of a 30% stake from Aramco and a 10% from Jacobs.
Saudi Arabia's sovereign wealth fund acquired a 40% stake in a joint venture between Aramco and Jacobs, comprised of a 30% stake from Aramco and a 10% from Jacobs.
Date: 4/30/2019
Type: Acquisition
NOTES:
WorleyParsons acquired Jacobs Engineering's Energy, Chemicals, and Resources business. The transaction is anticipated to close by the end of April 2019.
WorleyParsons acquired Jacobs Engineering's Energy, Chemicals, and Resources business. The transaction is anticipated to close by the end of April 2019.
Date: 3/31/2019
Type: Acquisition
NOTES:
Jacobs Engineering has reached a deal to sell its Energy, Chemicals and Resources segment to WorleyParsons for $3.3 billion. The deal is comprised of $2.6 billion in cash and $700 million in Worley ordinary shares.
Jacobs Engineering has reached a deal to sell its Energy, Chemicals and Resources segment to WorleyParsons for $3.3 billion. The deal is comprised of $2.6 billion in cash and $700 million in Worley ordinary shares.
News & Press Releases
Criterion News
- 3/21/2019 - WorleyParsons Set to... (subscriber access)
- 3/19/2019 - Mexico Invites International Firms to Bid on the Construction of Pemex's $8 Billion Oil Refinery in Tabasco, Mexico
- 10/24/2018 - Jacobs Engineering... (subscriber access)
- 8/8/2018 - Jacobs Awarded Contract... (subscriber access)
- 1/10/2018 - BP Selects Jacobs to Provide EPCM Services on Khazzan Tight Gas Project in Oman
- 6/14/2017 - Keyera Partnership Signs... (subscriber access)
- 5/22/2017 - Saudi Aramco Reaches... (subscriber access)
- 2/20/2017 - Jacobs JV Receives... (subscriber access)
- 11/15/2016 - Exxon Awards Jacob... (subscriber access)
- 9/13/2016 - Jacobs Awarded Contract on INEOS 420,000 MTPA Alpha Olefin Plant
- 8/24/2016 - Jacobs Signs Engineering... (subscriber access)
- 4/13/2016 - Jacobs Engineering... (subscriber access)
- 3/1/2016 - Jacob's Sulfur Solutions in China's Chuandongbei Project
Press Releases
- Q4 2019 revenue of $3.4 billion1 grew 13% year-over-year; up 15% on a net revenue basis
- Q4 2019 EPS1 of $0.16 and adjusted EPS of $1.48, up 29% on an adjusted basis year-over-year
- Executed accelerated share repurchase of $250 million during Q4 to be completed in December 2019
- Paid $390 million in cash taxes reflected in cash flow from operations related to the $935 million gain on the Q3 close of $3.4 billion sale of Energy, Chemicals and Resources (ECR) business
- FY19 portfolio transformation continued with completion of the sale of ECR, $903 million acquisition of KeyW and announcement of the approximately $300 million pending acquisition of Wood Nuclear PLC
- FY19 revenue growth of 20% and pro forma net revenue growth of 11%
- Operating profit growth of 4% and adjusted EBITDA growth of 22%
- FY19 EPS1 of $2.09 and adjusted EPS of $5.05, up 30% on an adjusted basis year-over-year
- FY20 outlook initiated for $1,050 million to $1,150 million adjusted EBITDA2, representing double-digit growth for adjusted EBITDA and EPS2 versus FY19
- Strategic transformation further strengthened by launch of new brand that focuses employees to redefine what is possible by embracing innovative thinking and exploration
- Celebrates Jacobs' inclusive and diverse perspectives; inspires employees to advance the communities where they live, work and play
- Florida's 4G Wetlands, a multi-award-winning, 175-acre groundwater recharge wetland system to revitalize and restore the ecology of the Upper Floridan Aquifer, which supports more than $7.5 billion in agriculture and provides drinking water to 10 million people.
- The Thames Estuary Asset Management 2100 Program, protecting 1.3 million people and £275 billion worth of property from tidal flooding – including a half-million homes, eight power stations, more than 80 railway and Tube stations, and Westminster Abbey and the Houses of Parliament along the River Thames.
- The Tuas Water Reclamation Plant in Singapore, to be the world's largest membrane-bioreactor facility to treat used water for renewal and reuse, while recovering biogas to generate electricity to power it, maximizing the water-energy-waste nexus.
- The cost-effective Agua Nueva Water Reclamation Facility in Arizona, designed, built and currently operated by Jacobs using innovative treatment processes to manage scarce water supply in the desert environment.
- The Thames Tideway Tunnel Program to create a cleaner, healthier Thames, while enabling treatment that will continue to serve London for the next 100 years. The company has been leading the program including the 25-kilometer Thames Tideway Tunnel, and the award-winning Lee Tunnel, which was completed in 2016.
- Holders of approximately 2,884,648 CH2M shares, or approximately 9.3% of the outstanding CH2M shares, made valid elections to receive the Mixed Election Consideration.
- Holders of approximately 6,686,168 CH2M shares, or approximately 21.5% of the outstanding CH2M shares, made valid elections to receive the Cash Election Consideration.
- Holders of approximately 20,790,913 CH2M shares, or approximately 66.8% of the outstanding CH2M shares, made valid elections to receive the Stock Election Consideration.
- Holders of approximately 746,914 CH2M shares, or approximately 2.4% of the outstanding CH2M shares, did not make an election or were deemed not to have made a valid election, and were treated as if they had elected to receive the Mixed Election Consideration.
1/14/2021 - Jacobs Awarded Contract with the Naval Facilities Engineering and Expeditionary Warfare Center
Jacobs Awarded Contract with the Naval Facilities Engineering and Expeditionary Warfare Center
Source: PR Newswire
Orignial Article: https://contentapi.cision...
DALLAS, Jan. 14, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was awarded an indefinite delivery/indefinite quantity contract with the Naval Facilities Engineering and Expeditionary Warfare Center (NAVFAC EXWC) for waterfront facilities inspection and assessment services outside the contiguous United States (OCONUS).
"Jacobs has served as a service provider for maritime design and engineer-diver inspections to the Navy since 1988 and as the sole service provider OCONUS since 2012," said Jacobs Federal & Environmental Solutions Senior Vice President and General Manager Tim Byers. "As the industry leader in Marine and Port Facilities, we understand the critical importance of maintaining the structural integrity of the U.S. Navy's waterfront facilities around the world in support of maximizing Naval shore readiness."
Jacobs' scope of services under the five-year contract may include: field investigations, including underwater inspections; engineering analysis of waterfront and ocean facility structural, mechanical and electrical systems; design of facility repairs; environmental studies in support of permit applications to federal, state and local regulatory agencies; design of underwater instrument and cable arrays, associated power and data cable installation and termination; construction and installation scheduling; development of maintenance action plans; and underwater geotechnical and above water surveying.
A cornerstone of Jacobs' underwater inspection capabilities is a team of engineer-divers who can quickly mobilize to provide high quality underwater inspections and assessments globally. The commercially trained, engineer–divers who conduct the inspections also participate in the engineering evaluation, analysis, development of alternatives, detailed design and construction inspection phases. This multidisciplinary collaboration leads to maximum efficiency in planning, building and maintaining sustainable U.S. Navy waterfront facilities and infrastructure.
At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $14 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended October 2, 2020, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-awarded-contract-with-the-naval-facilities-engineering-and-expeditionary-warfare-center-301208207.html
SOURCE Jacobs
Article Date
1/14/2021Jacobs Participating in Research Study to Develop New Instrumentation and Methods for PFAS Site Characterization
Source: PR Newswire
DALLAS, April 23, 2020 /PRNewswire/ -- Jacobs (NYSE:J), in collaboration with Principal Investigator Dr. David Hanigan with the University of Nevada, Reno, is participating in a research and development grant from the Strategic Environmental Research and Development Program (SERDP) for Rapid Site Profiling of Organofluorine: Quantification of PFASs by Combustion Gas Analysis.
SERDP is an environmental research collaboration between the U.S. Department of Defense, the U.S. Department of Energy and the U.S. Environmental Protection Agency, harnessing the latest science and technology to improve environmental performance, reduce costs, and enhance and sustain mission capabilities. Expected benefits to the federal government include reduced labor associated with site profiling and reduced analytical lab costs and uncertainty, leading to better site characterization and reduced duration of site remediation.
Sampling and quantifying per- and polyfluoroalkyl substances (PFAS) is required to assess impacts and remediate contaminated sites, but the process is time-consuming, requires costly instrumentation and expertise, and fails to capture many organofluorine transformation products and precursors with possible health impacts to exposed aquatic species and humans. The overarching objective of this project is to develop and validate robust, field-ready instrumentation and methods to quantify total organofluorine.
"Jacobs brings to this research project extensive planning, technical support, groundwater sampling and technology transfer experience gained on PFAS assessments at thousands of potential release locations around the globe," said Jacobs People & Places Solutions Senior Vice President and Global Environmental Market Director Jan Walstrom.
PFAS are released to the environment through several pathways, including use as aqueous film-forming foam (AFFF) for fire-fighting by the U.S. military and the aviation industry, as well as municipal and industrial fire departments. The U.S. Environmental Protection Agency has set health advisory levels for two PFAS based upon environmental persistence and adverse health outcomes, and the subsurface is contaminated with PFAS at multiple U.S. military bases, airports and industrial sites.
Expected benefits to the scientific community include an increased understanding of organofluorine cycling in aqueous and soil systems and understanding of PFAS outside of those quantifiable by modern liquid chromatography – tandem mass spectrometry (LC-MS/MS) techniques. This approach will also support Dynamic Work Planning, Triad, and other efficient approaches to site characterization utilizing field-based decision-making.
For more than a decade, Jacobs' water and environmental technologists have been supporting municipal, federal and commercial clients with PFAS assessment and treatment. Additionally, since 2013, the company has been working on multiple SERDP research projects for PFAS characterization, treatment and remediation. Jacobs' technologists and scientists are partnering with the world's leading academics to better characterize, understand behavior and develop increasingly effective cleanup technologies for PFAS in groundwater and soil.
At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $13 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended September 27, 2019, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-participating-in-research-study-to-develop-new-instrumentation-and-methods-for-pfas-site-characterization-301044292.html
SOURCE Jacobs
Article Date
4/23/202011/25/2019 - Jacobs Reports Fiscal Fourth Quarter Earnings
Jacobs Reports Fiscal Fourth Quarter Earnings
Source: PR Newswire
DALLAS, Nov. 25, 2019 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) today announced its financial results for the fiscal fourth quarter and fiscal year ended September 27, 2019.
Q4 Financial Highlights:
Fiscal Year Highlights:
Brand Launch Highlights:
Fiscal 2019 was a year of transformation and growth at Jacobs. The company updated its strategy and financial targets at its Investor Day in February, completed the divestiture of its Energy, Chemicals and Resources business in April, completed the acquisition of KeyW in June, and announced its acquisition of Wood's nuclear business in August. All of these actions are in line with the company's strategic focus in higher value solutions. Concurrent with its proactive portfolio transformation, Jacobs also made inroads in the investment in its people, culture and inclusion.
Jacobs launched its new brand globally today, culminating its transition from engineering and construction to a global technology-forward solutions company, resulting both in a planned name change for the company to Jacobs Solutions Inc. and an NYSE stock ticker symbol change to "J". Trading under this symbol will be effective Dec. 10, 2019. Jacobs' lines of business are also changing names to better reflect outcome-focused solutions for their customers; Aerospace, Technology and Nuclear is changing to Critical Mission Solutions, and Buildings, Infrastructure and Advanced Facilities is changing to People & Places Solutions. These name changes have no impact on reported financials, line of business leadership or customer relationships.
In a first for the company, the earnings call is taking place at its new London flagship office in the Cottons Centre, a Jacobs-designed office on the banks of the Thames. The new office features flexible workspace for up to 1,000 employees. This innovative office pilots many of Jacobs' digital consulting solutions, delivers some of the world's most iconic projects and is the catalyst for further expansion in Europe and the Middle East.
"Our team has demonstrated strong execution by exceeding our three-year revenue and operating profit guidance that was established at our inaugural investor day in 2016. Our transformed portfolio is well aligned to major secular growth trends such as environmental resiliency, IT/OT convergence and national security. Today we embrace a future of infinite possibilities with a new brand that reflects who we are and where we are going. We are adopting a new tagline - Challenging today. Reinventing tomorrow. - to capture the shared passion, pride and drive of our people as we work with our clients and partners to solve some of the world's biggest challenges," said Chair and CEO Steve Demetriou. "And as we do so, our values continue to drive our behaviors, relationships and outcomes: We do things right. We challenge the accepted. We aim higher. We live inclusion."
Jacobs' CFO, Kevin Berryman, added, "It's clear the strategic actions we have taken are resulting in a high-performance culture with strong execution discipline. This is demonstrated by our fiscal 2019 financial results, including solid operating profit growth and achieving results at the high end of our original guidance, leading to double-digit adjusted EBITDA growth. During the fourth quarter, we opportunistically initiated a $250 million accelerated share repurchase program, culminating in more than $850 million in fiscal 2019 buy-backs. We are initiating a fiscal 2020 outlook of $1.05 billion to $1.15 billion in adjusted EBITDA2 and are off to a strong start in achieving our 2021 revenue and profitability targets."
1Reflects continuing operations as reported in accordance with GAAP.
2Reconciliation of the adjusted EPS outlook and adjusted EBITDA outlook for the full fiscal year to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation, including with respect to the costs and charges relating to transaction expenses, restructuring and integration to be incurred in fiscal 2020.
Fourth Quarter Review | |||
Fiscal 4Q 2019 | Fiscal 4Q 2018 | Change | |
Revenue | $3.4 billion | $3.0 billion | $0.4 billion |
Net Revenue | $2.7 billion | $2.3 billion | $0.4 billion |
GAAP Net Earnings from Continuing Operations | $22 million | $(77) million | $99 million |
GAAP Earnings Per Diluted Share (EPS) from Continuing Operations | $0.16 | ($0.54) | $0.70 |
Adjusted Net Earnings from Continuing Operations | $201 million | $165 million | $36 million |
Adjusted EPS from Continuing Operations | $1.48 | $1.14 | $0.34 |
The company's adjusted net earnings and adjusted EPS for the fourth quarter of fiscal 2019 and fiscal 2018 exclude the charges and costs set forth in the table below. For additional information regarding these adjustments and a reconciliation of adjusted net earnings and adjusted EPS to net earnings and EPS, respectively, refer to the section entitled "Non-GAAP Financial Measures" at the end of this release.
Fiscal 4Q 2019 | Fiscal 4Q 2018 | |
After-tax restructuring and other charges ($106.4 million and $30.9 million for the fiscal 2019 and 2018 periods, respectively, before income taxes) | $83 million ($0.61 per diluted | $22 million ($0.15 per diluted |
After-tax transaction costs incurred in connection with the closing of the CH2M and KeyW acquisitions and pending acquisition of John Wood Group Nuclear business ($7.1 million and $4.1 million for the fiscal 2019 and 2018 periods, respectively before income taxes) | $5 million ($0.04 per diluted | $2 million ($0.01 per diluted |
Other adjustments include: (a) addback of amortization of intangible assets of $23.4 million and $19.1 million in the 2019 and 2018 periods, respectively, (b) the allocation to discontinued operations of estimated stranded corporate costs of $0.0 million and $6.4 million in the 2019 and 2018 periods, respectively, that will be reimbursed or otherwise eliminated in connection with the sale of the ECR business, (c) the reclassification of revenues under the Company's Transition Services Agreement (TSA) with Worley of $21.3 million included in other income for U.S. GAAP reporting purposes to SG&A and the exclusion of $0.7 million in remaining unreimbursed costs associated with the TSA during the fiscal 2019 fourth quarter, (d) the removal of $64.8 million in fair value adjustments and dividend income related to our investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds in the 2019 period, (e) the allocation to discontinued operations of estimated interest expense amounts in 2019 and 2018 related to long-term debt that has been paid down in connection with the sale of the ECR business of $0.0 million and $17.8 million, respectively, (f) the add-back of charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform of $24.0 and $184.5 million in the 2019 and 2018 periods and (g) associated income tax expense adjustments for the above pre-tax adjustment items. | $91 million ($0.67 per diluted | $218 million ($1.51 per diluted |
Adjusted EPS from Continuing Operations | $201 million ($1.48 per diluted | $165 million ($1.14 per diluted |
(note: earnings per share amounts may not add due to rounding) |
Fiscal fourth quarter 2019 adjusted earnings per share from continuing operations reflect an adjusted effective tax rate of 23.4%, excluding a $0.09 benefit from discrete tax items.
Fiscal 2019 Review | |||
Fiscal 2019 | Fiscal 2018 | Change | |
Revenue | $13 billion | $11 billion | $2 billion |
Net Revenue | $10 billion | $8 billion | $2 billion |
GAAP Net Earnings from Continuing Operations | $291 million | $(4) million | $295 million |
GAAP Earnings Per Diluted Share (EPS) from Continuing Operations | $2.09 | ($0.03) | $2.12 |
Adjusted Net Earnings from Continuing Operations | $704 million | $540 million | $164 million |
Adjusted EPS from Continuing Operations | $5.05 | $3.87 | $1.18 |
The company's adjusted net earnings and adjusted EPS for fiscal 2019 and fiscal 2018 exclude the charges and costs set forth in the table below. For additional information regarding these adjustments and a reconciliation of adjusted net earnings and adjusted EPS to net earnings and EPS, respectively, refer to the section entitled "Non-GAAP Financial Measures" at the end of this release.
Fiscal 2019 | Fiscal 2018 | |
After-tax restructuring and other charges ($311.5 million and $153.6 million for the fiscal 2019 and 2018 periods, respectively, before income taxes) | $244 million ($1.75 per diluted | $113 million ($0.81 per diluted |
After-tax transaction costs incurred in connection with the closing of the CH2M and KeyW acquisitions and pending acquisition of John Wood Group Nuclear business ($21.4 million and $82.2 million for the fiscal 2019 and 2018 periods, respectively before income taxes) | $16 million ($0.12 per diluted | $61 million ($0.44 per diluted |
Other adjustments include: (a) addback of amortization of intangible assets of $79.1 million and $68.1 million in the 2019 and 2018 periods, respectively, (b) the allocation to discontinued operations of estimated stranded corporate costs of $14.8 million and $25.6 million in the 2019 and 2018 periods, respectively, that will be reimbursed or otherwise eliminated in connection with the sale of the ECR business, (c) the reclassification of revenues under the Company's Transition Services Agreement (TSA) with Worley of $35.4 million included in other income for U.S. GAAP reporting purposes to SG&A and the exclusion of $3.9 million in remaining unreimbursed costs associated with the TSA during the fiscal 2019 year, (d) the allocation to discontinued operations of estimated interest expense amounts in 2019 and 2018 related to long-term debt that has been paid down in connection with the sale of the ECR business of $42.3 million and $51.0 million, respectively, (e) the removal of $64.8 million in fair value adjustments and dividend income related to our investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds in the 2019 period, (f) the exclusion of a $37 million one-time favorable adjustment in the 2019 period associated with reduction of deferred income taxes for permanently reinvested earnings from non-U.S. subsidiaries in connection with the sale of the ECR business, (g) the add-back of charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform of $35.0 million and $259.2 million in the 2019 and 2018 periods, respectively and other income tax adjustments of $1.5 million in the current year and (h) associated income tax expense adjustments for the above pre-tax adjustment items. | $153 million ($1.10 per diluted | $371 million ($2.66 per diluted |
Adjusted EPS from Continuing Operations | $704 million ($5.05 per diluted | $540 million ($3.87 per diluted |
(note: earnings per share amounts may not add due to rounding) |
Fiscal year 2019 adjusted earnings per share from continuing operations reflect an adjusted effective tax rate of 23.3%, excluding benefits from discrete tax items of $0.32 cents per share.
Jacobs is hosting a conference call at 8:00 A.M. ET on Monday November 25, 2019, which will be webcast live at www.jacobs.com.
John Wood Group's Nuclear Business Acquisition
On August 20, 2019, Jacobs announced that it has entered into an agreement to acquire John Wood Group's Nuclear business for an enterprise value of £250 million (approx. $300 million) on a debt-free, cash-free basis. The transaction is expected to close in the fiscal 2020 second quarter.
About Jacobs
At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $13 billion in revenue and a talent force of approximately 52,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sectors. Visit jacobs.com and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this press release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 27, 2019, and in particular the discussions contained therein under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
Financial Highlights: | |||||||||||||||
Results of Operations (in thousands, except per-share data) (Quarterly data unaudited): | |||||||||||||||
For the Three Months Ended | For the Years Ended | ||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||
Revenues | $ | 3,392,862 | $ | 2,991,856 | $ | 12,737,868 | $ | 10,579,773 | |||||||
Direct cost of contracts | (2,727,329) | (2,385,625) | (10,260,840) | (8,421,223) | |||||||||||
Gross profit | 665,533 | 606,231 | 2,477,028 | 2,158,550 | |||||||||||
Selling, general and administrative expenses | (566,447) | (445,385) | (2,072,177) | (1,771,107) | |||||||||||
Operating Profit | 99,086 | 160,846 | 404,851 | 387,443 | |||||||||||
Other Income (Expense): | |||||||||||||||
Interest income | 2,315 | 2,088 | 9,487 | 8,984 | |||||||||||
Interest expense | (10,120) | (26,652) | (83,847) | (76,760) | |||||||||||
Miscellaneous income (expense), net | (37,744) | 6,118 | 20,468 | 11,314 | |||||||||||
Total other (expense) income, net | (45,549) | (18,446) | (53,892) | (56,462) | |||||||||||
Earnings From Continuing Operations Before Taxes | 53,537 | 142,400 | 350,959 | 330,981 | |||||||||||
Income Tax Benefit (Expense) for Continuing Operations | (24,124) | (215,402) | (36,954) | (325,632) | |||||||||||
Net Earnings (Loss) of the Group from Continuing Operations | 29,413 | (73,002) | 314,005 | 5,349 | |||||||||||
Net Earnings (Loss) of the Group from Discontinued Operations | 120,378 | 41,579 | 559,214 | 167,793 | |||||||||||
Net Earnings (Loss) of the Group | 149,791 | (31,423) | 873,219 | 173,142 | |||||||||||
Net Earnings Attributable to Noncontrolling Interests from Continuing Operations | (7,467) | (3,995) | (23,045) | (9,534) | |||||||||||
Net Earnings (Loss) Attributable to Jacobs from Continuing Operations | 21,946 | (76,997) | 290,960 | (4,185) | |||||||||||
Net Earnings Attributable to Noncontrolling Interests from Discontinued Operations | — | (2,123) | (2,195) | (177) | |||||||||||
Net Earnings (Loss) Attributable to Jacobs from Discontinued Operations | 120,378 | 39,456 | 557,019 | 167,616 | |||||||||||
Net Earnings (Loss) Attributable to Jacobs | $ | 142,324 | $ | (37,541) | $ | 847,979 | $ | 163,431 | |||||||
Net Earnings Per Share: | |||||||||||||||
Basic Net Earnings (Loss) from Continuing Operations Per Share | $ | 0.16 | $ | (0.54) | $ | 2.11 | $ | (0.03) | |||||||
Basic Net Earnings from Discontinued Operations Per Share | $ | 0.89 | $ | 0.28 | $ | 4.03 | $ | 1.21 | |||||||
Basic Earnings (Loss) Per Share | $ | 1.06 | $ | (0.26) | $ | 6.14 | $ | 1.18 | |||||||
Diluted Net Earnings (Loss) from Continuing Operations Per Share | $ | 0.16 | $ | (0.54) | $ | 2.09 | $ | (0.03) | |||||||
Diluted Net Earnings from Discontinued Operations Per Share | $ | 0.88 | $ | 0.28 | $ | 4.00 | $ | 1.21 | |||||||
Diluted Earnings (Loss) Per Share | $ | 1.04 | $ | (0.26) | $ | 6.08 | $ | 1.18 | |||||||
Segment Information (in thousands) (Quarterly data and Non-GAAP unaudited): | |||||||||||||||
For the Three Months Ended | For the Years Ended | ||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||
Revenues from External Customers: | |||||||||||||||
Critical Mission Solutions | $ | 1,300,137 | $ | 1,069,062 | $ | 4,551,162 | $ | 3,725,365 | |||||||
People & Places Solutions | 2,092,725 | 1,922,794 | 8,186,706 | 6,854,408 | |||||||||||
Pass Through Revenue | (702,786) | (650,547) | (2,543,358) | (2,254,477) | |||||||||||
People & Places Solutions Net Revenue | $ | 1,389,939 | $ | 1,272,247 | $ | 5,643,348 | $ | 4,599,931 | |||||||
Total Revenue | $ | 3,392,862 | $ | 2,991,856 | $ | 12,737,868 | $ | 10,579,773 | |||||||
Net Revenue | $ | 2,690,076 | $ | 2,341,309 | $ | 10,194,510 | $ | 8,325,296 | |||||||
For the Three Months Ended | For the Years Ended | ||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||
Segment Operating Profit: | |||||||||||||||
Critical Mission Solutions (1) | $ | 87,754 | $ | 73,109 | $ | 310,043 | $ | 255,718 | |||||||
People & Places Solutions (2) | 198,929 | 153,091 | 714,394 | 527,900 | |||||||||||
Total Segment Operating Profit | 286,683 | 226,200 | 1,024,437 | 783,618 | |||||||||||
Other Corporate Expenses (3) | (78,679) | (30,626) | (264,351) | (161,788) | |||||||||||
Restructuring and Other Charges | (103,487) | (31,207) | (337,066) | (153,951) | |||||||||||
Transaction Costs | (5,431) | (3,521) | (18,169) | (80,436) | |||||||||||
Total U.S. GAAP Operating Profit | 99,086 | 160,846 | 404,851 | 387,443 | |||||||||||
Total other (expense) income, net (4) | (45,549) | (18,446) | (53,892) | (56,462) | |||||||||||
Earnings from Continuing Operations Before Taxes | $ | 53,537 | $ | 142,400 | $ | 350,959 | $ | 330,981 | |||||||
(1) | Includes $15.0 million in charges during the year ended September 28, 2018 associated with a legal matter. |
(2) | Includes $25.0 million in charges associated with a certain project for the year ended September 27, 2019. |
(3) | Other corporate expenses include costs that were previously allocated to the ECR segment prior to discontinued operations presentation in connection with the ECR sale in the approximate amounts of $- and $14.8 million for the three month period and year ended September 27, 2019, respectively, and $6.4 million and $25.6 million for the three month period and year ended and September 28, 2018, respectively. Other corporate expenses also include intangibles amortization of $79.1 million and $68.1 million for the years ended September 27, 2019 and September 28, 2018, respectively, and $23.4 million and $19.1 million for the three month periods ended September 27, 2019 and September 28, 2018, respectively. |
(4) | Includes gain on the settlement of the CH2M retiree medical plans of $0.4 and $35.0 million for the three month period and year ended September 27, 2019. Includes the amortization of deferred financing fees related to the CH2M acquisition of $1.8 million and $3.2 million for the three month period and year ended September 27, 2019, respectively, as well as $0.6 million and $1.8 million for the three month period and year ended September 28, 2018, respectively. Also includes revenues under the Company's TSA agreement with Worley of $21.3 million and $35.4 million for the three month period and year ended September 27, 2019 for which the related costs are included in SG&A. This is offset by $64.8 million for fair value adjustments (unrealized losses) and dividend income related to our investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds for the three month period and year ended September 27, 2019. |
Other Operational Information (in thousands): | |||||||||||||||
Unaudited | For the Three Months Ended | For the Years Ended | |||||||||||||
Continuing Operations | September 27, | September 28, | September 27, | September 28, | |||||||||||
Depreciation (pre-tax) | $ | 20,508 | $ | 21,567 | $ | 88,061 | $ | 91,230 | |||||||
Amortization of Intangibles (pre-tax) | $ | 22,752 | $ | 18,352 | $ | 78,484 | $ | 67,404 | |||||||
Pass-Through Costs Included in Revenues | $ | 702,786 | $ | 650,547 | $ | 2,543,358 | $ | 2,254,477 | |||||||
Capital Expenditures | $ | 29,307 | $ | 26,240 | $ | 126,773 | $ | 75,215 | |||||||
Balance Sheet (in thousands): | |||||||
September 27, | September 28, | ||||||
ASSETS | |||||||
Current Assets: | |||||||
Cash and cash equivalents | $ | 631,068 | $ | 634,870 | |||
Receivables and contract assets | 2,840,209 | 2,513,934 | |||||
Prepaid expenses and other | 639,539 | 171,096 | |||||
Current assets held for sale | 952 | 1,236,684 | |||||
Total current assets | 4,111,768 | 4,556,584 | |||||
Property, Equipment and Improvements, net | 308,143 | 257,859 | |||||
Other Noncurrent Assets: | |||||||
Goodwill | 5,432,544 | 4,795,856 | |||||
Intangibles, net | 665,076 | 572,952 | |||||
Miscellaneous | 918,202 | 760,854 | |||||
Noncurrent assets held for sale | 26,978 | 1,701,690 | |||||
Total other noncurrent assets | 7,042,800 | 7,831,352 | |||||
$ | 11,462,711 | $ | 12,645,795 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
Current Liabilities: | |||||||
Short-term debt | $ | 199,901 | $ | 3,172 | |||
Accounts payable | 1,072,645 | 776,189 | |||||
Accrued liabilities | 1,384,379 | 1,167,002 | |||||
Contract liabilities | 414,208 | 442,760 | |||||
Current liabilities held for sale | 2,573 | 756,570 | |||||
Total current liabilities | 3,073,706 | 3,145,693 | |||||
Long-term Debt | 1,201,245 | 2,144,167 | |||||
Other Deferred Liabilities | 1,419,005 | 1,260,977 | |||||
Noncurrent liabilities held for sale | 97 | 150,604 | |||||
Commitments and Contingencies | |||||||
Stockholders' Equity: | |||||||
Capital stock: | — | — | |||||
Preferred stock, $1 par value, authorized - 1,000,000 shares; issued and outstanding - none | |||||||
Common stock, $1 par value, authorized - 240,000,000 shares; issued and outstanding - 132,879,395 shares and 142,217,933 shares as of September 27, 2019 and September 28, 2018, respectively | 132,879 | 142,218 | |||||
Additional paid-in capital | 2,559,450 | 2,708,839 | |||||
Retained earnings | 3,939,174 | 3,809,991 | |||||
Accumulated other comprehensive loss | (916,812) | (806,703) | |||||
Total Jacobs stockholders' equity | 5,714,691 | 5,854,345 | |||||
Noncontrolling interests | 53,967 | 90,009 | |||||
Total Group stockholders' equity | 5,768,658 | 5,944,354 | |||||
$ | 11,462,711 | $ | 12,645,795 | ||||
Cash Flows (In thousands) (Quarterly data unaudited) | |||||||||||||||
For the Three Months Ended | For the Years Ended | ||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||
Net earnings (loss) attributable to the Group | $ | 149,791 | $ | (31,423) | $ | 873,219 | $ | 173,142 | |||||||
Adjustments to reconcile net earnings to net cash flows (used for) provided by operations: | |||||||||||||||
Depreciation and amortization: | |||||||||||||||
Property, equipment and improvements | 20,508 | 29,141 | 90,171 | 117,856 | |||||||||||
Intangible assets | 22,752 | 22,236 | 79,098 | 80,731 | |||||||||||
Gain on sale of ECR business | (17,416) | — | (935,110) | — | |||||||||||
(Gain) Loss on disposal of other businesses and investments | — | 21,411 | 9,608 | 20,967 | |||||||||||
(Gain) Loss on investment in equity securities | 80,283 | — | 78,108 | — | |||||||||||
Stock based compensation | 21,796 | 17,421 | 69,137 | 79,242 | |||||||||||
Equity in (earnings) loss of operating ventures, net | (1,152) | 5,748 | (8,784) | (2,639) | |||||||||||
(Gain) Loss on disposals of assets, net | 4,224 | 7,436 | 6,222 | 17,491 | |||||||||||
(Gain) Loss on pension and retiree medical plan changes | 1,534 | 1,595 | (33,087) | 5,414 | |||||||||||
Deferred income taxes | (158,531) | 295,500 | (105,939) | 288,126 | |||||||||||
Changes in assets and liabilities, excluding the effects of businesses acquired: | |||||||||||||||
Receivables and contract assets | 846 | (118,812) | (401,770) | (435,198) | |||||||||||
Prepaid expenses and other current assets | (19,116) | (24,754) | (13,117) | (19,134) | |||||||||||
Accounts payable | 227,368 | 44,344 | 295,146 | 183,057 | |||||||||||
Income taxes payable | (367,659) | (32,481) | (294,995) | 68,970 | |||||||||||
Accrued liabilities | (71,873) | 55,622 | (305,716) | (37,746) | |||||||||||
Contract liabilities | (85,886) | (28,427) | 333,876 | 6,268 | |||||||||||
Other deferred liabilities | 23,212 | (58,273) | (106,256) | (79,280) | |||||||||||
Other, net | 23,196 | 5,918 | 3,753 | 13,885 | |||||||||||
Net cash (used for) provided by operating activities | (146,123) | 212,202 | (366,436) | 481,152 | |||||||||||
Cash Flows from Investing Activities: | |||||||||||||||
Additions to property and equipment | (29,307) | (31,476) | (135,977) | (94,884) | |||||||||||
Disposals of property and equipment and other assets | (123) | 2,865 | 7,177 | 3,293 | |||||||||||
Distributions of capital from (contributions to) equity investees | (4,857) | (13,030) | (8,761) | (5,416) | |||||||||||
Acquisitions of businesses, net of cash acquired | — | 210 | (575,110) | (1,488,336) | |||||||||||
Disposals of investment in equity securities | — | — | 64,708 | — | |||||||||||
Proceeds (payments) related to sales of businesses | 4,691 | 4,333 | 2,801,425 | 7,736 | |||||||||||
Purchases of noncontrolling interests | — | — | (1,113) | — | |||||||||||
Net cash (used for) provided by investing activities | (29,596) | (37,098) | 2,152,349 | (1,577,607) | |||||||||||
Cash Flows from Financing Activities: | |||||||||||||||
Proceeds from long-term borrowings | 575,000 | 413,000 | 2,782,193 | 5,784,355 | |||||||||||
Repayments of long-term borrowings | (395,290) | (602,052) | (3,996,970) | (4,572,182) | |||||||||||
Proceeds from short-term borrowings | — | (1,149) | 200,001 | 712 | |||||||||||
Repayments of short-term borrowings | (22,664) | (2,692) | (28,566) | (3,391) | |||||||||||
Debt issuance costs | (174) | — | (3,915) | — | |||||||||||
Proceeds from issuances of common stock | 18,815 | 19,996 | 64,958 | 53,584 | |||||||||||
Common stock repurchases | (329,058) | 1 | (853,676) | (2,981) | |||||||||||
Taxes paid on vested restricted stock | (454) | (3,133) | (26,641) | (31,108) | |||||||||||
Cash dividends, including to noncontrolling interests | (24,139) | (21,337) | (106,396) | (86,569) | |||||||||||
Net cash (used for) provided by financing activities | (177,964) | (197,366) | (1,969,012) | 1,142,420 | |||||||||||
Effect of Exchange Rate Changes | (13,491) | (8,750) | 20,809 | (26,758) | |||||||||||
Net (Decrease) Increase in Cash and Cash Equivalents | (367,174) | (31,012) | (162,290) | 19,207 | |||||||||||
Cash and Cash Equivalents at the Beginning of the Period | 998,242 | 824,370 | 793,358 | 774,151 | |||||||||||
Cash and Cash Equivalents at the End of the Period | 631,068 | 793,358 | 631,068 | 793,358 | |||||||||||
Less Cash and Cash Equivalents included in Assets held for Sale | — | (158,488) | — | (158,488) | |||||||||||
Cash and Cash Equivalents of Continuing Operations at the End of the Period | $ | 631,068 | $ | 634,870 | $ | 631,068 | $ | 634,870 | |||||||
See the accompanying Notes to Consolidated Financial Statements. | |||||||||||||||
Backlog (in millions): | |||||||
Unaudited | September 27, 2019 | September 28, 2018 | |||||
Critical Mission Solutions | 8,460 | 7,130 | |||||
People & Places Solutions | 14,109 | 12,825 | |||||
Total | $ | 22,569 | $ | 19,955 | |||
Non-GAAP Financial Measures:
In this press release, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. The non-GAAP financial measures included in this press release are net revenue, adjusted net earnings from continuing operations, adjusted EPS from continuing operations, adjusted operating profit and adjusted EBITDA.
Net revenue is calculated excluding pass-through revenue of the Company's People & Places Solutions segment from the Company's revenue from continuing operations. Adjusted net earnings from continuing operations, adjusted EPS from continuing operations and adjusted operating profit are non-GAAP financial measures that are calculated by (i) excluding the costs related to the 2015 restructuring activities, which included involuntary terminations, the abandonment of certain leased offices, combining operational organizations and the co-location of employees into other existing offices; and charges associated with our Europe, U.K. and Middle East region, which included write-offs on contract accounts receivable and charges for statutory redundancy and severance costs (collectively, the "2015 Restructuring and other items"); (ii) excluding costs and other charges associated with restructuring activities implemented in connection with the CH2M acquisition, the ECR divestiture, the KeyW acquisition and other related cost reduction initiatives, which included involuntary terminations, costs associated with co-locating Jacobs, KeyW and CH2M offices, separating physical locations of ECR and continuing operations, costs and expenses of the Integration Management Office and Separation Management Office, including professional services and personnel costs, costs and charges associated with the divestiture of joint venture interests to resolve potential conflicts arising from the CH2M acquisition, expenses relating to certain commitments and contingencies relating to discontinued operations of the CH2M business, charges associated with certain operations in India, which included write-offs on contract accounts receivable and other accruals, and similar costs and expenses (collectively referred to as the "Restructuring and other charges"); (iii) excluding transaction costs and other charges incurred in connection with closing of the KeyW and CH2M acquisitions, the pending acquisition of Wood Group's nuclear business, and sale of the ECR business (to the extent incurred prior to the closing), including advisor fees, change in control payments, costs and expenses relating to the registration and listing of Jacobs stock issued in connection with the CH2M acquisition, and similar transaction costs and expenses (collectively referred to as "transaction costs"); (iv) adding back amortization of intangible assets; (v) allocating to discontinued operations estimated stranded corporate costs that will be reimbursed or otherwise eliminated in connection with the sale of the ECR business; (vi) the reclassification of revenue under the Company's transition services agreement (TSA) included in other income for U.S. GAAP reporting purposes to SG&A and the exclusion of remaining unreimbursed costs associated with the TSA; (vii) allocating to discontinued operations estimated interest expense relating to long-term debt that was paid down with the proceeds of the ECR sale; (viii) the removal of fair value adjustments and dividend income related to the Company's investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds in the 2019 period; (ix) the exclusion of a one-time favorable adjustment in the fiscal 2019 period associated with a reduction of deferred income taxes for permanently reinvested earnings from non-U.S. subsidiaries in connection with the sale of the ECR business; (x) excluding charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform; (xi) adding back depreciation and amortization relating to the ECR business of the Company that was ceased as a result of the application of held-for-sale accounting; and (xii) other income tax adjustments. Adjustments to derive adjusted net earnings from continuing operations, adjusted EPS from continuing operations and adjusted operating profit are calculated on an after-tax basis. We believe that net revenue, adjusted net earnings from continuing operations, adjusted EPS from continuing operations, adjusted operating profit and adjusted EBITDA are useful to management, investors and other users of our financial information in evaluating the Company's operating results and understanding the Company's operating trends by excluding or adding back the effects of the items described above, the inclusion or exclusion of which can obscure underlying trends. Additionally, management uses such measures in its own evaluation of the Company's performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period.
Adjusted EBITDA for prior periods is calculated by adding depreciation expense to adjusted operating profit from continuing operations. For fiscal 2020 outlook, the Company calculated adjusted EBITDA by adding income tax expense, depreciation expense and interest expense, and deducting interest income from adjusted net earnings from continuing operations.
The Company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the Company's financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the Company to those used by our peer companies.
The following tables reconcile the components and values of U.S. GAAP revenue, net earnings from continuing operations, EPS from continuing operations, operating profit and revenue to the corresponding "adjusted" amounts. For the comparable periods presented below, such adjustments consist of amounts incurred in connection with the items described above. Amounts are shown in thousands, except for per-share data (note: earnings per share amounts may not add across due to rounding). Reconciliation of the adjusted EPS and adjusted EBITDA outlook for the full fiscal year to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation (note: earnings per share amounts may not add across due to rounding).
U.S. GAAP Reconciliation for the fourth quarter of fiscal 2019 and 2018 | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
September 27, 2019 | |||||||||||||||||||
Unaudited | U.S. GAAP | Effects of | Effects of | Other | Adjusted | ||||||||||||||
Revenues | $ | 3,392,862 | $ | — | $ | — | $ | — | $ | 3,392,862 | |||||||||
Pass through revenue | — | — | — | (702,786) | (702,786) | ||||||||||||||
Net revenue | 3,392,862 | — | — | (702,786) | 2,690,076 | ||||||||||||||
Direct cost of contracts | (2,727,329) | 3,000 | — | 702,786 | (2,021,543) | ||||||||||||||
Gross profit | 665,533 | 3,000 | — | — | 668,533 | ||||||||||||||
Selling, general and administrative expenses | (566,447) | 100,487 | 5,431 | 45,301 | (415,228) | ||||||||||||||
Operating Profit | 99,086 | 103,487 | 5,431 | 45,301 | 253,305 | ||||||||||||||
Total other (expense) income, net | (45,549) | 2,864 | 1,670 | 43,530 | 2,515 | ||||||||||||||
Earnings from Continuing Operations Before Taxes | 53,537 | 106,351 | 7,101 | 88,831 | 255,820 | ||||||||||||||
Income Tax (Expense) Benefit for Continuing Operations | (24,124) | (23,346) | (1,743) | 2,060 | (47,153) | ||||||||||||||
Net Earnings of the Group from Continuing Operations | 29,413 | 83,005 | 5,358 | 90,891 | 208,667 | ||||||||||||||
Net Earnings Attributable to Noncontrolling Interests from Continuing Operations | (7,467) | — | — | — | (7,467) | ||||||||||||||
Net Earnings from Continuing Operations attributable to Jacobs | 21,946 | 83,005 | 5,358 | 90,891 | 201,200 | ||||||||||||||
Net Earnings attributable to Discontinued Operations | 120,378 | — | — | — | 120,378 | ||||||||||||||
Net Earnings attributable to Jacobs | $ | 142,324 | $ | 83,005 | $ | 5,358 | $ | 90,891 | $ | 321,578 | |||||||||
Diluted Net Earnings from Continuing Operations Per Share | $ | 0.16 | $ | 0.61 | $ | 0.04 | $ | 0.67 | $ | 1.48 | |||||||||
Diluted Net Earnings from Discontinued Operations Per Share | $ | 0.88 | $ | — | $ | — | $ | — | $ | 0.88 | |||||||||
Diluted Earnings Per Share | $ | 1.04 | $ | 0.61 | $ | 0.04 | $ | 0.67 | $ | 2.36 | |||||||||
Operating Profit Margin | 2.92 | % | 9.42 | % | |||||||||||||||
(1) | Includes after-tax CH2M transaction costs and adjustments of $1.3 million, after-tax transaction costs associated with the acquisition of KeyW of $0.2 million and after tax-transaction costs associated with the acquisition of John Wood Group's Nuclear Business of $3.9 million. |
(2) | Includes (a) the removal of pass through revenues and costs for the People & Places Solutions ("PPS") line of business for the calculation of operating profit margin as a percentage of net revenue of $702.8 million, (b) the removal of amortization of intangible assets of $23.4 million, (c) the reclassification of revenues under the Company's TSA of $21.3 million included in other income for U.S. GAAP reporting purposes to SG&A and the exclusion of $0.7 million in remaining unreimbursed costs associated with this agreement, (d) the removal of $64.8 million in fair value adjustments and dividend income related to our investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds, (e) the add-back of charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform of $24.0 million and (f) associated income tax expense adjustments for the above pre-tax adjustment items. |
For the Three Months Ended | |||||||||||||||||||
September 28, 2018 | |||||||||||||||||||
Unaudited | U.S. GAAP | Effects of | Effects of | Other | Adjusted | ||||||||||||||
Revenues | $ | 2,991,856 | $ | — | $ | — | $ | — | $ | 2,991,856 | |||||||||
Pass through revenue | — | — | — | (650,547) | (650,547) | ||||||||||||||
Net revenue | 2,991,856 | — | — | (650,547) | 2,341,309 | ||||||||||||||
Direct cost of contracts | (2,385,625) | 1,269 | — | 650,547 | (1,733,809) | ||||||||||||||
Gross profit | 606,231 | 1,269 | — | — | 607,500 | ||||||||||||||
Selling, general and administrative expenses | (445,385) | 29,938 | 3,521 | 25,488 | (386,438) | ||||||||||||||
Operating Profit | 160,846 | 31,207 | 3,521 | 25,488 | 221,062 | ||||||||||||||
Total other (expense) income, net | (18,446) | (311) | 585 | 17,787 | (385) | ||||||||||||||
Earnings from Continuing Operations Before Taxes | 142,400 | 30,896 | 4,106 | 43,275 | 220,677 | ||||||||||||||
Income Tax (Expense) Benefit for Continuing Operations | (215,402) | (8,902) | (2,125) | 174,582 | (51,847) | ||||||||||||||
Net Earnings of the Group from Continuing Operations | (73,002) | 21,994 | 1,981 | 217,857 | 168,830 | ||||||||||||||
Net Earnings Attributable to Noncontrolling Interests from Continuing Operations | (3,995) | — | — | — | (3,995) | ||||||||||||||
Net Earnings from Continuing Operations attributable to Jacobs | (76,997) | 21,994 | 1,981 | 217,857 | 164,835 | ||||||||||||||
Net Earnings attributable to Discontinued Operations | 39,456 | 17,465 | — | (15,612) | 41,309 | ||||||||||||||
Net Earnings attributable to Jacobs | $ | (37,541) | $ | 39,459 | $ | 1,981 | $ | 202,245 | $ | 206,144 | |||||||||
Diluted Net Earnings from Continuing Operations Per Share (3) | $ | (0.54) | $ | 0.15 | $ | 0.01 | $ | 1.51 | $ | 1.14 | |||||||||
Diluted Net Earnings from Discontinued Operations Per Share (3) | $ | 0.28 | $ | 0.12 | $ | — | $ | (0.11) | $ | 0.29 | |||||||||
Diluted Earnings Per Share (3) | $ | (0.26) | $ | 0.27 | $ | 0.01 | $ | 1.40 | $ | 1.43 | |||||||||
Operating Profit Margin | 5.38 | % | 9.44 | % | |||||||||||||||
(1) | Includes pre-tax CH2M transaction costs and adjustments of $(0.4 million) as well as transaction costs associated with the recently announced sale of our ECR line of business of $4.5 million. |
(2) | Includes (a) the removal of pass through revenues and costs for the PPS line of business for the calculation of operating profit margin as a percentage of net revenue of $650.5 million, (b) the removal of amortization of intangible assets of $19.1 million, (c) the allocation to discontinued operations of estimated stranded corporate costs of $6.4 million that would have been reimbursed under the ECR transition service agreement (TSA) with Worley or otherwise eliminated from the ongoing operations in connection with the sale of the ECR business, (d) estimated 2018 impacts of $19.0 million from overhead allocation realignments in connection with the Company's CH2M business in the first quarter of fiscal 2019 had those changes been put into effect in first quarter of fiscal 2018 ( the net impact of which was zero for consolidated selling, general and administrative expenses, (e) the allocation to discontinued operations of estimated interest expense for the full period related to long-term debt that has been paid down as a result of the ECR sale of $17.8 million, (f) the add-back of charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform of $184.5 million and (g) associated income tax expense adjustments for the above pre-tax adjustment items. |
(3) | Diluted Earnings Per Share from Continuing Operations, Diluted Earnings Per Share from Discontinued Operations and Diluted Earnings Per Share for GAAP EPS assume no dilution from stock compensation plans because Net Earnings from Continuing Operations attributable to Jacobs is a loss. However, because Non-GAAP add-backs and Non-GAAP Net Earnings from Continuing Operations attributable to Jacobs are income rather than losses, the dilution from stock compensation plans is considered in the weighted average diluted shares outstanding in the calculation of Non-GAAP Diluted Earnings Per Share. |
U.S. GAAP Reconciliation for fiscal years 2019 and 2018 | |||||||||||||||||||
For the Year Ended | |||||||||||||||||||
September 27, 2019 | |||||||||||||||||||
Unaudited | U.S. GAAP | Effects of | Effects of | Other | Adjusted | ||||||||||||||
Revenues | $ | 12,737,868 | $ | — | $ | — | $ | — | $ | 12,737,868 | |||||||||
Pass through revenue | — | — | — | (2,543,358) | (2,543,358) | ||||||||||||||
Net revenue | 12,737,868 | — | — | (2,543,358) | 10,194,510 | ||||||||||||||
Direct cost of contracts | (10,260,840) | 4,969 | — | 2,543,358 | (7,712,513) | ||||||||||||||
Gross profit | 2,477,028 | 4,969 | — | — | 2,481,997 | ||||||||||||||
Selling, general and administrative expenses | (2,072,177) | 332,097 | 18,169 | 133,164 | (1,588,747) | ||||||||||||||
Operating Profit | 404,851 | 337,066 | 18,169 | 133,164 | 893,250 | ||||||||||||||
Total other (expense) income, net | (53,892) | (25,596) | 3,214 | 71,639 | (4,635) | ||||||||||||||
Earnings from Continuing Operations Before Taxes | 350,959 | 311,470 | 21,383 | 204,803 | 888,615 | ||||||||||||||
Income Tax (Expense) Benefit for Continuing Operations | (36,954) | (67,789) | (5,252) | (51,722) | (161,717) | ||||||||||||||
Net Earnings of the Group from Continuing Operations | 314,005 | 243,681 | 16,131 | 153,081 | 726,898 | ||||||||||||||
Net Earnings Attributable to Noncontrolling Interests from Continuing Operations | (23,045) | — | — | — | (23,045) | ||||||||||||||
Net Earnings from Continuing Operations attributable to Jacobs | 290,960 | 243,681 | 16,131 | 153,081 | 703,853 | ||||||||||||||
Net Earnings attributable to Discontinued Operations | 557,019 | (587) | 8,948 | (55,622) | 509,758 | ||||||||||||||
Net Earnings attributable to Jacobs | $ | 847,979 | $ | 243,094 | $ | 25,079 | $ | 97,459 | $ | 1,213,611 | |||||||||
Diluted Net Earnings from Continuing Operations Per Share | $ | 2.09 | $ | 1.75 | $ | 0.12 | $ | 1.10 | $ | 5.05 | |||||||||
Diluted Net Earnings from Discontinued Operations Per Share | $ | 4.00 | $ | — | $ | 0.06 | $ | (0.40) | $ | 3.66 | |||||||||
Diluted Earnings Per Share | $ | 6.08 | $ | 1.74 | $ | 0.18 | $ | 0.70 | $ | 8.71 | |||||||||
Operating Profit Margin | 3.18 | % | 8.76 | % | |||||||||||||||
(1) | Includes after-tax CH2M transaction costs and adjustments of $2.4 million, after tax-transaction costs associated with the sale of our ECR line of business of $8.9 million, after-tax transaction costs associated with the acquisition of KeyW of $9.8 million and after-tax transaction costs associated with the acquisition of John Wood Group's Nuclear Business of $3.9 million. |
(2) | Includes (a) the removal of pass through revenues and costs for the PPS line of business for the calculation of operating profit margin as a percentage of net revenue of $2.54 billion, (b) the removal of amortization of intangible assets of $79.1 million, (c) the allocation to discontinued operations of estimated stranded corporate costs of $14.8 million prior to the sale that will be reimbursed under the ECR transition services agreement (TSA) with Worley or otherwise eliminated from the ongoing operations in connection with the sale of the ECR business, (d) the reclassification of revenues under the Company's TSA of $35.4 million included in other income for U.S. GAAP reporting purposes to SG&A and the exclusion of $3.9 million in remaining unreimbursed costs associated with this agreement (e) the allocation to discontinued operations of estimated interest expense for the month of April prior to the sale related to long-term debt that has been paid down as a result of the ECR sale of $42.3 million, (f) the removal of $64.8 million in fair value adjustments and dividend income related to our investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds (g) the exclusion of approximately $37.0 million in one-time favorable income tax adjustment from the second quarter associated with reduction of deferred income taxes for permanently reinvested earnings from non-U.S. subsidiaries in connection with the sale of the ECR business, (h) the add-back of charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform from the first quarter of $35.0 million and other adjustments of $1.5 million, (i) the add-back of depreciation relating to the ECR business that was ceased as a result of the application of held-for-sale accounting of $17.3 million and (j) associated income tax expense adjustments for the above pre-tax adjustment items. |
For the Year Ended | |||||||||||||||||||
September 28, 2018 | |||||||||||||||||||
Unaudited | U.S. GAAP | Effects of | Effects of | Other | Adjusted | ||||||||||||||
Revenues | $ | 10,579,773 | $ | — | $ | — | $ | — | $ | 10,579,773 | |||||||||
Pass through revenue | — | — | — | (2,254,477) | (2,254,477) | ||||||||||||||
Net revenue | 10,579,773 | — | — | (2,254,477) | 8,325,296 | ||||||||||||||
Direct cost of contracts | (8,421,223) | 3,845 | — | 2,254,477 | (6,162,901) | ||||||||||||||
Gross profit | 2,158,550 | 3,845 | — | — | 2,162,395 | ||||||||||||||
Selling, general and administrative expenses | (1,771,107) | 150,106 | 80,436 | 93,740 | (1,446,825) | ||||||||||||||
Operating Profit | 387,443 | 153,951 | 80,436 | 93,740 | 715,570 | ||||||||||||||
Total other (expense) income, net | (56,462) | (311) | 1,774 | 50,992 | (4,007) | ||||||||||||||
Earnings from Continuing Operations Before Taxes | 330,981 | 153,640 | 82,210 | 144,732 | 711,563 | ||||||||||||||
Income Tax (Expense) Benefit for Continuing Operations | (325,632) | (40,254) | (21,488) | 225,791 | (161,583) | ||||||||||||||
Net Earnings of the Group from Continuing Operations | 5,349 | 113,386 | 60,722 | 370,523 | 549,980 | ||||||||||||||
Net Earnings Attributable to Noncontrolling Interests from Continuing Operations | (9,534) | (577) | — | — | (10,111) | ||||||||||||||
Net Earnings from Continuing Operations attributable to Jacobs | (4,185) | 112,809 | 60,722 | 370,523 | 539,869 | ||||||||||||||
Net Earnings attributable to Discontinued Operations | 167,616 | 27,259 | — | (48,219) | 146,656 | ||||||||||||||
Net Earnings attributable to Jacobs | $ | 163,431 | $ | 140,068 | $ | 60,722 | $ | 322,304 | $ | 686,525 | |||||||||
Diluted Net Earnings from Continuing Operations Per Share (3) | $ | (0.03) | $ | 0.81 | $ | 0.44 | $ | 2.66 | $ | 3.87 | |||||||||
Diluted Net Earnings from Discontinued Operations Per Share (3) | $ | 1.21 | $ | 0.20 | $ | — | $ | (0.35) | $ | 1.05 | |||||||||
Diluted Earnings Per Share (3) | $ | 1.18 | $ | 1.01 | $ | 0.44 | $ | 2.31 | $ | 4.93 | |||||||||
Operating Profit Margin | 3.66 | % | 8.60 | % | |||||||||||||||
(1) | Includes pre-tax CH2M transaction costs and adjustments of $77.7 million as well as transaction costs associated with the recently announced sale of our ECR line of business of $4.5 million. |
(2) | Includes (a) the removal of pass through revenues and costs for the PPS line of business for the calculation of operating profit margin as a percentage of net revenue of $2.25 billion, (b) the removal of amortization of intangible assets of $68.1 million, (c) the allocation to discontinued operations of estimated stranded corporate costs of $25.6 million that would have been reimbursed under the ECR transition service agreement (TSA) with Worley or otherwise eliminated from the ongoing operations in connection with the sale of the ECR business, (d) estimated 2018 impacts of $70.0 million from overhead allocation realignments in connection with the Company's CH2M business in the first quarter of fiscal 2019 had those changes been put into effect in first quarter of fiscal 2018 ( the net impact of which was zero for consolidated selling, general and administrative expenses, (e) the allocation to discontinued operations of estimated interest expense for the full period related to long-term debt that has been paid down as a result of the ECR sale of $51.0 million, (f) the add-back of charges resulting from the revaluation of certain deferred tax assets/liabilities in connection with U.S. tax reform of $259.2 million and (g) associated income tax expense adjustments for the above pre-tax adjustment items. |
(3) | Diluted Earnings Per Share from Continuing Operations, Diluted Earnings Per Share from Discontinued Operations and Diluted Earnings Per Share for GAAP EPS assume no dilution from stock compensation plans because Net Earnings from Continuing Operations attributable to Jacobs is a loss. However, because Non-GAAP add-backs and Non-GAAP Net Earnings from Continuing Operations attributable to Jacobs are income rather than losses, the dilution from stock compensation plans is considered in the weighted average diluted shares outstanding in the calculation of Non-GAAP Diluted Earnings Per Share. |
Reconciliation of Operating Profit from Continuing Operations Attributable to Jacobs to Adjusted EBITDA | |||
For the Year Ended | |||
September 27, 2019 | September 28, 2018 | ||
Adjusted operating profit from continuing operations | 893,250 | 715,570 | |
Depreciation expense | 88,061 | 91,230 | |
Adjusted EBITDA | 981,311 | 806,800 | |
Earnings Per Share: | |||||||||||||||
For the Three Months Ended | For the Years Ended | ||||||||||||||
September 27, | September 28, | September 27, | September 28, | ||||||||||||
Numerator for Basic and Diluted EPS: | |||||||||||||||
Net earnings (loss) attributable to Jacobs from continuing operations | $ | 21,946 | $ | (76,997) | $ | 290,960 | $ | (4,185) | |||||||
Net earnings (loss) from continuing operations allocated to participating securities | (16) | — | (415) | — | |||||||||||
Net earnings (loss) from continuing operations allocated to common stock for EPS calculation | $ | 21,930 | $ | (76,997) | $ | 290,545 | $ | (4,185) | |||||||
Net earnings (loss) attributable to Jacobs from discontinued operations | $ | 120,378 | $ | 39,456 | $ | 557,019 | $ | 167,616 | |||||||
Net earnings (loss) from discontinued operations allocated to participating securities | (88) | (105) | (795) | (808) | |||||||||||
Net earnings (loss) from discontinued operations allocated to common stock for EPS calculation | $ | 120,290 | $ | 39,351 | $ | 556,224 | $ | 166,808 | |||||||
Net earnings allocated to common stock for EPS calculation | 142,220 | (37,646) | 846,769 | 162,623 | |||||||||||
Denominator for Basic and Diluted EPS: | |||||||||||||||
Weighted average basic shares | 134,625 | 142,575 | 138,104 | 138,182 | |||||||||||
Shares allocated to participating securities | (99) | (379) | (197) | (646) | |||||||||||
Shares used for calculating basic EPS attributable to common stock | 134,526 | 142,196 | 137,907 | 137,536 | |||||||||||
Effect of dilutive securities: | |||||||||||||||
Stock compensation plans | 1,579 | — | 1,299 | — | |||||||||||
Shares used for calculating diluted EPS attributable to common stock | 136,105 | 142,196 | 139,206 | 137,536 | |||||||||||
Net Earnings Per Share: | |||||||||||||||
Basic Net Earnings (Loss) from Continuing Operations Per Share | $ | 0.16 | $ | (0.54) | $ | 2.11 | $ | (0.03) | |||||||
Basic Net Earnings (Loss) from Discontinued Operations Per Share | $ | 0.89 | $ | 0.28 | $ | 4.03 | $ | 1.21 | |||||||
Basic EPS | $ | 1.06 | $ | (0.26) | $ | 6.14 | $ | 1.18 | |||||||
Diluted Net Earnings (Loss) from Continuing Operations Per Share | $ | 0.16 | $ | (0.54) | $ | 2.09 | $ | (0.03) | |||||||
Diluted Net Earnings from Discontinued Operations Per Share | $ | 0.88 | $ | 0.28 | $ | 4.00 | $ | 1.21 | |||||||
Diluted EPS | $ | 1.04 | $ | (0.26) | $ | 6.08 | $ | 1.18 | |||||||
(1) | For the fiscal 2018 year-to-date period, because net earnings (loss) from continuing operations was a loss, the effect of antidilutive securities of 1,176 were excluded from the denominator in calculating diluted EPS. For the three-month period fiscal 2018 period, the effect of antidilutive securities of 1,168 were excluded from the denominator in calculating diluted EPS. |
For additional information contact:
Investors:
Jonathan Doros, 214-583-8596
jonathan.doros@jacobs.com
Media:
Marietta Hannigan, 214-920-8035
marietta.hannigan@jacobs.com
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SOURCE Jacobs
Article Date
11/25/201911/13/2019 - Jacobs Partners with Shell on a Restorative Coastal Infrastructure Solution for Louisiana Coast
Jacobs Partners with Shell on a Restorative Coastal Infrastructure Solution for Louisiana Coast
Source: PR Newswire
DALLAS, Nov. 13, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) and Shell Pipeline Company LP (Shell) deliver on their commitment to protect pipeline integrity and safety and improving coastal ecosystems with the completed installation of a living coastline system along the Ship Shoal Pipeline Corridor in Louisiana.
Located at Lost Lake, Jacobs and Shell's natural infrastructure solution consisted of installing 60 EcoBales – or lightweight, modular cylinders, created by Martin Ecosystems, which allow water to filter through – as an alternative to traditional infrastructure such as cement or bulkheads. In doing so, the project is improving marsh production and water quality, aiding in flood risk reduction and aquatic resource benefits on the Louisiana coast. This project also benefits the Ship Shoal Pipeline, a joint venture operated by Shell, which runs 31-miles to deliver 50 million barrels of crude oil per year from deep-water assets in the Gulf of Mexico to Louisiana.
"In coastal Louisiana, the ecosystem is dramatically different than it was one hundred years ago, as land loss is impacting communities and the infrastructure that supports them, including critical energy assets such as pipelines," said Jacobs Buildings and Infrastructure Americas Senior Vice President and Regional Director Tom Meinhart. "Jacobs' and Shell's natural solution not only supports these pipelines, but also serves as a model for balancing coastal infrastructure and an evolving natural environment today and for generations to come."
Jacobs served as lead design engineer, alongside Shell, Martin Ecosystems and Chet Morrison Contractors, installing the EcoBale system – made from 96,000 recycled PET plastic bottles – at Lost Lake. The solution's lightweight design further reduced the impacts to the surrounding ecosystem by requiring less personnel and equipment and by eliminating the need for dredging in shallow project areas during installation.
"A healthy marsh is needed to provide a safe and supportive environment for all coastal wildlife," said Shell Pipeline Company LP Asset Operations Manager Greg Mouras. "A sustainable marsh provides the protection and support for our oil and gas pipelines, in turn protecting the infrastructure which provides the revenue to support our community and economy."
Jacobs, Shell and The Nature Conservancy also transformed Blue Hammock Bayou, another location along the Ship Shoal corridor, with a pilot natural infrastructure solution that stabilized the shoreline. For a visual timeline on how Jacobs has helped transform the Ship Shoal Pipeline Corridor, click here.
Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With $13 billion in revenue and a talent force of approximately 52,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-partners-with-shell-on-a-restorative-coastal-infrastructure-solution-for-louisiana-coast-300956276.html
SOURCE Jacobs
Article Date
11/13/2019Jacobs to Support Renewable Energy Solutions for Germany's SuedLink Program
Source: PR Newswire
DALLAS, Oct. 1, 2019 /PRNewswire/ -- Jacobs (NYSE: JEC) has been appointed separately by transmission system operators TenneT and TransnetBW to support the planned SuedLink program which will deliver new underground cable connection to transport wind power from northern Germany to Bavaria and Baden-Württemberg. SuedLink will help to better integrate renewable sources, such as wind and solar power, into Germany's electricity grid, and it will link with interconnectors to provide cross-border energy resilience.
SuedLink is a key component of Germany's power grid upgrade, which is required to meet its target of 80% of energy from renewable sources by 2050. The 700-kilometer underground cable line is being planned and built by the transmission system operators TenneT and TransnetBW, with an investment of approximately $11 billion (10 billion euros). TenneT is responsible for the northern section of the cable connection, TransnetBW for its southern part. Jacobs will provide an integrated delivery partner approach to program and contract management, planning and approvals, stakeholder engagement, logistics, technical and other services on behalf of TenneT and TransnetBW, respectively. SuedLink is the first major project in Germany to use a central service provider contract approach.
"The demand for smart, sustainable solutions across environmental and resource resiliency challenges is one of the biggest issues of our time and SuedLink is set to play a decisive role in Germany's renewal ambitions," says Jacobs Buildings and Infrastructure Europe Senior Vice President and General Manager Donald Morrison. "Jacobs has a strong track record of delivering complex, one-of-a-kind programs such as the London 2012 Olympic and Paralympic Games, Dubai Expo 2020 and the Panama Canal Expansion Program. We look forward to supporting TenneT and TransnetBW to deliver this iconic transformational program with sustainable, community-orientated outcomes at its heart."
"SuedLink is the most important single project of the energy system transformation in Germany and also in Europe," said TenneT Managing Director Tim Meyerjürgens. "This is precisely why steering and coordination play a very important role."
"By commissioning Jacobs and setting up a SuedLink site in Würzburg, we have created ideal conditions for the successful implementation of the world's largest underground cable project central to transforming Germany's energy system," said Managing Director of TransnetBW Dr. Werner Götz.
Up to 250 employees in Würzburg will work closely together on SuedLink - including engineers, archaeologists, landscape planners, biologists, geologists, digital specialists and project managers.
Beginning October 2019, TenneT, TransnetBW and Jacobs will be working together at the new SuedLink project site in Würzburg, starting with approximately 130 employees, with plans to grow to 250 as the project progresses. Additional project offices will be added in Germany; this local engagement will be vital as the project progresses its stakeholder communications, planning and other activities in the region.
Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-to-support-renewable-energy-solutions-for-germanys-suedlink-program-300928076.html
SOURCE Jacobs
Article Date
10/1/2019Jacobs Selected for Wetland/Electro-Coagulation Treatment Facility at Superfund Site in Washington State
Source: PR Newswire
DALLAS, Sept. 4, 2019 /PRNewswire/ -- Jacobs (NYSE: JEC) was selected by the Kaiser Mead Custodial Work Trust to design, build, operate and optimize a Wetland/Electro-Coagulation Treatment Facility that will be used to clean up groundwater cyanide, fluoride and nitrate pollution at the Kaiser Aluminum (Mead Works) Superfund site in Mead, Washington.
During World War II, the site housed an aluminum smelting plant which supported the production of bombers and other airplanes with high-quality aluminum. Remnants from these activities, including detection of cyanide and fluoride in several private drinking water wells and a sole-source aquifer that supplies water to the Little Spokane River, prompted the U.S. Environmental Protection Agency to add the Mead Works to the Superfund program's National Priorities List. The Trust property occupies 50 acres of the site and the area of groundwater contamination.
Jacobs' technical solution integrates an extraction well system for maximizing contaminant capture; subsurface biological treatment wetlands to deliver consistent four-season removal of cyanide and nitrates; an electro-coagulation system for removal of fluoride and residual cyanide/nitrates; sludge disposal management for hazardous and nonhazardous waste; and an effluent discharge infiltration basin to reduce the potential mobilization of secondary groundwater plume contamination.
"Our Spokane-based team combines their knowledge of local hydrogeology with national technical expertise in extraction, wetlands and water chemistry," said Jacobs Buildings, Infrastructure and Advanced Facilities Global Environmental Solutions Senior Vice President and General Manager Jan Walstrom. "We will also be utilizing local Jacobs operations and maintenance resources located at the Spokane Regional Water Reclamation Facility, less than 10 miles away, to provide low cost, safe and responsive operation of the treatment facility."
The Kaiser Mead Custodial Work Trust took ownership of the property to manage cleanup activities in 2004. The Washington State Department of Ecology is the lead oversight agency for the cleanup with the U.S. Environmental Protection Agency in a supporting role. A developer has plans to convert the brownfield property into mixed-use development. Jacobs will work with the development team to integrate the treatment systems into the development planning process.
Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-selected-for-wetlandelectro-coagulation-treatment-facility-at-superfund-site-in-washington-state-300911217.html
SOURCE Jacobs
Article Date
9/4/2019Jacobs Completes New State-Of-The-Art Filtration Plant for PUB in Singapore
Source: PR Newswire
DALLAS, Aug. 28, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) announced it has successfully completed the testing and commissioning of a new, state-of-the-art Ceramic Membrane – Ozone – Biological Activated Carbon plant at the Choa Chu Kang Waterworks (CCKWW) for PUB, Singapore's National Water Agency.
Working closely with PUB, Jacobs carried out the preliminary design, detailed design, preparation and award of tenders, construction supervision, contract management, testing and commissioning of the plant. The project upgrades the existing 360 million litres per day (80 million U.K. gallons per day) waterworks through the addition of new ceramic membrane filters, an ozone system and biological activated carbon contactors. These improvements enhance both the lifespan and robustness of the treatment process allowing the plant to process a wider range of water quality fluctuations.
"New and innovative approaches to water management are key to conserving our finite water resources for the long term," said Buildings and Infrastructure Asia Pacific and Middle East Senior Vice President and General Manager Patrick Hill. "We're pleased to have partnered with PUB on this project, helping to address Singapore's water treatment challenges through the application of innovative technology."
CCKWW is one of the largest full-scale waterworks to use ceramic membranes globally and is the first in Singapore to achieve the benefits of integrating these membranes with ozonation and biologically activated carbon contactors. The plant upgrades will serve PUB well into the future, helping to overcome emerging raw water challenges due to increasing urbanization.
Jacobs has been delivering water and wastewater projects with PUB for more than 20 years. Notable projects include Changi Water Reclamation Plant, Kallang River-Bishan Ang Mo Kio Park and Tuas Desalination Plant.
Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
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SOURCE Jacobs
Article Date
8/28/2019Jacobs Appointed as Specialist to Rollout Smart Meters in Singapore
Source: PR Newswire
DALLAS, Aug. 22, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been appointed as the Advanced Metering Infrastructure (AMI) Specialist for PUB, Singapore's National Water Agency's Smart Water Meter Programme roll-out in Singapore. The program is a major step in PUB's transition to a smart utility.
"We have been partnering with PUB for more than 20 years and together we've delivered some significant water infrastructure firsts," said Jacobs Buildings and Infrastructure Asia Pacific and Middle East Senior Vice President and General Manager Patrick Hill. "Our appointment as smart meter specialists for this project reflects the ongoing strength of our partnership with PUB and our track record delivering similar projects across the globe."
For the first phase of the Smart Water Meter Programme – which includes the installation of 300,000 automated water meters in new and existing residential, commercial and industrial premises by 2023 – Jacobs will work with PUB to evaluate and advise on meter devices and technology, establish communications protocols and provide insights for enhancing operational efficiency and water savings.
Jacobs was selected following an open tender exercise in April 2019 from eight bidders, based on its extensive experience in the planning and implementation of large-scale AMI water meter projects and a strong global team with knowledge of AMI best practices. The local project team will leverage local experience and deep international domain expertise through Jacobs' global water business to deliver services that meet the unique requirements of PUB.
PUB will use the water consumption data collected to better understand water demand patterns, improve the predictability and stability of supply, optimize water demand management practices and achieve greater operational efficiencies. The data will also be made available to residents and business owners, providing greater insight into their daily water usage.
"Global water challenges are intensifying," said Jacobs Vice President and Global Director for Water Peter Nicol. "By harnessing the power of smart water meter technologies, data analytics, innovative thinking and our extensive project experience, Jacobs is working with PUB to develop more enduring sustainable water management solutions that safeguard this vital resource for the future. This program will clearly set the global standard for other countries to follow."
Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-appointed-as-specialist-to-rollout-smart-meters-in-singapore-300905592.html
SOURCE Jacobs
Article Date
8/22/2019Jacobs Wins Global Water Awards for Innovative, Sustainable Water Work
Source: PR Newswire
DALLAS, May 15, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been recognized for its innovative, technical and sustainable achievements in the international water sector. The Green Meadows Water Treatment Plant in southwest, Florida, and the Tuas Desalination Plant in Singapore, both of which were under the engineering supervision of Jacobs, received the coveted Global Water Awards for Water Project of the Year and Desalination Plant of the Year, respectively. Jacobs was also honored with a distinction award for Water Company of the Year. Established in 2006 by Global Water Intelligence (GWI), the awards recognize the most important achievements in the international water industry over the previous year, rewarding initiatives and companies that are moving the industry forward.
"We are humbled to be given the Award of Distinction for 2019 Global Water Company of the Year and owe this recognition to our clients who place their trust in our teams, partnering with them in delivering their projects and solving challenges," said Jacobs Global Vice President and Global Water Director Peter Nicol. "We are honored for Jacobs to receive world-wide recognition for excellence in serving our clients and playing a role in their projects, Green Meadows and Tuas Desalination Plant, being recognized as the best water project and desalination plant of the year."
Jacobs earned a distinction award for Water Company of the Year, the top award that recognizes the company that made the most significant contribution to the development of the international water sector in 2018. Several achievements that positioned Jacobs for the nomination include its work on the world's largest membrane bioreactor water reclamation plant in Singapore; securing the role of engineering design manager for the California WaterFix project; retaining its slot at the top of the trenchless engineering leaderboard and Jacobs' successes in both the green infrastructure and digital space.
Lee County Utilities' Green Meadows Water Treatment Plant, located in southwest Florida, received the Water Project of the Year, in part because the sustainable plant is a first-of-its-kind, combining new with existing technology to treat water from three different aquifers using the latest, large scale treatment technologies. This blend of proven, innovative technologies combined under a single system provides a dynamic, cost effective treatment plant that increases the county's water supply treatment flexibility and reliability while reducing operational costs by as much as 60%. Jacobs served as the prime engineer on the project, beginning early evaluations more than a decade ago. The 14 million-gallons-per-day facility replaced an aging lime softening plant, previously in operation for more than 35 years. The project also recently received a Technology Merit Award for Water Supply from the Environmental Business Journal.
Additionally, Singapore's Tuas Desalination Plant – owned and operated by PUB, Singapore's national water agency – earned the Desalination Plant of the Year. Jacobs serves as PUB's consulting engineer for the state-of-the-art desal plant that covers just 3.5 hectares, making the plant the most space-efficient facility in the land-scarce country. Singapore aims to meet much of its future water demand with water reuse and desalination practices, therefore, this project is a critical component to achieving the country's vision.
The coveted Global Water Awards were presented at the Global Water Summit in April, in London. Through a rigorous selection process, winners were determined by a worldwide water industry vote for their innovation and contributions to the international water sector.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For press/media inquiries: | Brian Morandi |
Kerrie Sparks | 720.286.0719 |
214.583.8433 |
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SOURCE Jacobs
Article Date
5/15/2019Jacobs Awarded Contract at US Army Dugway Proving Ground
Source: PR Newswire
DALLAS, May 1, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) was awarded a fifteen-month direct award bridge contract to perform field range testing and laboratory support services for the West Desert Test Center at Dugway Proving Ground (DPG) in Utah. Continuing the work Jacobs has performed at the major test site for the past 15 years, the West Desert Test Center estimates the contract value at $27 million.
Jacobs' support includes conducting field range testing, and chamber and laboratory tests for chemical and biological simulants and pollutants. Jacobs will evaluate the functionality of detection, dissemination and decontamination systems, as well as individual protective equipment. Technical support also includes evaluation of equipment and procedures and facilitation of field exercises and training at customer sites. Additionally, Jacobs will continue providing onsite chemical and biological incident training for civilian first responders and members of every branch of the military, as well as foreign partners, which includes classroom instruction, practical laboratory exercises and field training.
"Our work at Dugway Proving Ground sustains Jacobs' position as a leading provider of range and test and evaluation services to the Army and Department of Defense," said Jacobs Aerospace, Technology and Nuclear Senior Vice President Jennifer Richmond. "This direct award bridge contract enables us to continue our longstanding partnership providing leading-edge, solutions-driven innovation in the increasingly important area of chemical and biological defense."
DPG serves as the nation's leading chemical and biological defense proving ground. West Desert Test Center is the testing area for DPG and is designated as the U.S. Army's Major Range and Test Facility Base for chemical and biological defense testing.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With more than $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-awarded-contract-at-us-army-dugway-proving-ground-300841523.html
SOURCE Jacobs
Article Date
5/1/2019Jacobs Ranked No. 1 on ENR's Top 500 Design Firms List
Source: PR Newswire
DALLAS, April 25, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been ranked No. 1 for the second consecutive year on Engineering News-Record (ENR)'s 2019 Top 500 Design Firms list. Widely considered the industry benchmark, the annual list ranks both publicly and privately held U.S. companies, based on revenue for design-specific services performed in the previous year.
"The number-one recognition on ENR's Top 500 Design Firms list speaks to Jacobs' leadership addressing unprecedented, disruptive shifts involving digitization, urbanization, the environment and climate change," said Jacobs Chair and CEO Steve Demetriou. "These are tremendous growth engines for Jacobs because we bring innovative solutions that advance progress on these issues and create a more connected and sustainable world."
By combining diverse talents with deep client-application experience and digital intelligence, Jacobs analyzes complex problems from multiple perspectives to deliver more complete, higher value solutions for clients and communities around the world.
Optimizing technology-enabled, sustainable solutions
Dallas Fort Worth International (DFW) Airport partnered with Jacobs to find innovative solutions for its Runway 17C/35C rehabilitation project, the airport's busiest runway and first full runway refurbishment since it opened in 1974. Jacobs developed a sustainable design strategy incorporating DFW's goals to minimize overall time of runway closure while keeping future maintenance costs low. High-tech, weather-resistant asphalt, equipped with a new pavement sensor system to measure weather impacts, simplifies future runway maintenance through the next 40 years. By keeping a good portion of the runway intact during the upgrade, the project's rehabilitation schedule, total cost and environmental impact from operations were reduced. In addition, the enhanced runway includes long-lasting LED lighting, which reduces the airport's utility consumption.
Confronting urbanization, resource demands
To continue to provide safe and reliable service, NEW Water – the brand of the Green Bay Metropolitan Sewer District in Wisconsin – replaced its solids handling facility to meet stricter environmental regulations, address increased capacity needs and replace aging infrastructure. Called the Resource Recovery and Electrical Energy generation system, or R2E2, Jacobs is providing consulting services for the project which harnesses resource recovery of nutrients and biogas, and generates electricity using advanced wastewater technologies for cost savings and environmental benefit. Using anaerobic digestion, it's estimated the project will recover enough methane gas to reduce energy costs by up to 50% in the first year of operation.
Addressing climate threats with sustainable design
Sustainability served as a central theme throughout King County's Georgetown Wet Weather Treatment Station (WWTS) project, which incorporated 3D models and virtual reality, green infrastructure and renewable energy generation. Located near Seattle, the Jacobs-designed Georgetown WWTS integrates technical innovation and sustainable solutions to treat combined sewer overflows prior to discharge into local waterways. The station design includes several sustainable elements, based in part on input from the community, which will help proactively prepare the region to combat flooding from the projected sea level rise and future wet weather issues. When complete in 2022, the station will treat up to 70 million gallons of combined stormwater runoff and wastewater per day, providing positive social, economic and environmental benefits for the community.
The complete list of 2019 ENR Top 500 Design Firms, including the full cover story, will also be available in the April 29 issue of ENR.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-ranked-no-1-on-enrs-top-500-design-firms-list-300838690.html
SOURCE Jacobs
Article Date
4/25/20194/23/2019 - Jacobs to Deliver Construction Phase Services for Watercare's Central Interceptor Project
Jacobs to Deliver Construction Phase Services for Watercare's Central Interceptor Project
Source: PR Newswire
DALLAS, April 23, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has secured a variation with Watercare, New Zealand's largest water and wastewater utility, for the continuation of professional services during the construction phase of the Central Interceptor (CI) wastewater tunnel project in Auckland, New Zealand.
Jacobs has been engaged as the professional engineering advisor for the CI project since 2014, delivering detailed design services. Jacobs role has been extended to include construction management and design support services for the construction phase of the CI project, expected to begin in mid-2019 and continue through 2025.
"The appointment builds on our 20-year working relationship with Watercare," said Jacobs Buildings, Infrastructure and Advanced Facilities COO and President Bob Pragada. "Our appointment is testament to the way our team has worked with Watercare and our subconsultant partners to deliver value during previous stages, and our ability to assemble a global team with extensive experience in the construction of deep tunnel water conveyance systems."
Designed to collect and convey sewage and combined sewage overflows, the CI tunnel will run approximately eight miles (13 kilometers) from Western Springs to the Māngere Wastewater Treatment Plant and is the largest ever wastewater project undertaken in New Zealand. The new tunnel is expected to reduce the volume of wet-weather overflows by 80 percent, contributing to the overall health improvement of Auckland city's waterways and receiving environment.
"The Central Interceptor is the largest capital project Watercare have ever undertaken," said Watercare Executive Programme Director Shayne Cunis. "Jacobs' ability to mobilize a talented global team to Auckland and apply lessons learned from similar projects undertaken in London, Singapore and the UAE, was critical to our continuation with them for the next stage of the project."
Jacobs in New Zealand employs more than 400 people across four offices in Auckland, Hamilton, Wellington and Christchurch, and provides an extensive range of technical and professional services to private and public clients in the water, power, buildings and infrastructure, transport and environmental and spatial planning sectors.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the fiscal year ended September 28, 2018, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-to-deliver-construction-phase-services-for-watercares-central-interceptor-project-300836214.html
SOURCE Jacobs
Article Date
4/23/2019Jacobs and Partners to Support Water Resilience in India
Source: PR Newswire
DALLAS, March 7, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been engaged by Singapore Cooperation Enterprise (SCE) to deliver engineering consultancy services focused on building sustainable urban water management, recycle and re-use capabilities in India.
As part of the Urban Management Program on Water Recycling and Reuse Phase 2 in India, in collaboration with NITI Aayog, Jacobs will deliver a series of workshops targeting policy leaders and specialists across eight Indian states and union territories. Jacobs will also deliver studies and designs which will examine the feasibility of the program, including potential funding models for recycled water treatment facilities. The program is being jointly funded by NITI Aayog and Temasek Foundation International as part of NITI Aayog's vision for sustainable urban transformation in India.
The workshops will focus on the key areas of non-revenue water management and used water treatment technology; preliminary design development for recycle/reuse facilities; development of project delivery options; and international best practices highlighting lessons from Singapore's own experience developing a holistic, sustainable and closed loop water management approach. The year-long program will capitalize on the collective expertise of thought leaders from across the India, Singapore and Asia Pacific region.
"The appointment builds on a similar capability development program delivered by Jacobs and partners for NITI Aayog in 2016-17, which we plan to leverage to help develop a sustainable and resilient water management approach in India," said Jacobs Buildings and Infrastructure Senior Vice President and General Manager Patrick Hill.
Water quality and supply are critical issues for India. Over 163 million people live without access to clean water close to home. Climate change-induced rainfall variability, rapid urbanization and increasing industry demand are putting significant pressure on water supply and forcing water providers to look beyond natural rainfall to alternate water sources, including recycled water.
"Building social acceptance of recycled water sources is a big challenge," said Jacobs Director for Asia and India and Council Member of Singapore Water Association Vinod Singh. "India will greatly benefit from the expertise and insight SCE offers because Singapore has undergone a similar transformation in recent years."
CH2M, which subsequently merged with Jacobs, has been working with PUB Singapore to deliver various water infrastructure resilience program for more than 20 years, and has acted as the lead technical advisor and consultant to SCE on similar water infrastructure programs in India for states including Karnataka, Delhi, Rajasthan, Maharashtra, and in Mauritius.
"SCE is happy to share Singapore's development experience in water management, specifically in the area of treated used water, with India. Treated used water, also commonly term as NEWater, forms part of Singapore's four national taps strategy to meet the escalating water demands for the nation," said SCE Director for International Partnerships Eric Lee. "We believe that Singapore's experience in its water management practices would facilitate NITI Aayog's objectives towards achieving a successful and sustainable urban water management system."
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-and-partners-to-support-water-resilience-in-india-300806703.html
SOURCE Jacobs
Article Date
3/7/2019Petro Rabigh Selects Jacobs for Fuel Oil Upgrade Project in Saudi Arabia
Source: PR Newswire
DALLAS, Feb. 28, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has received a contract from Rabigh Refining & Petrochemical Company (Petro Rabigh) to provide FEED and Project Management Consultancy (PMC) services on the company's fuel oil upgrade project – Bottom of the Barrel. Located in Rabigh, Saudi Arabia, Bottom of the Barrel is an upgrade project which converts oil residue streams from the crude distillation process into more profitable products.
In today's market, there is increased demand for transportation fuels, primarily diesel and low-sulfur bunker fuel oil, as well as decreased demand for residual fuel oil. This shift, combined with the lowering sulfur limits worldwide, makes maximizing conversion critical. Jacobs is projected to employ 150 full time employees while delivering pre-front end engineering design, FEED and project management over a two-year period.
"Through this oil upgrade project, we are supporting Petro Rabigh with a unique opportunity in the market to meet growing demands for transportation fuels," said Jacobs Energy, Chemical and Resources Senior Vice President and General Manager EMEA David Zelinski. "The implementation will yield value-added products for use across Saudi Arabia, as well as export to global markets."
Petro Rabigh, a refining and petrochemicals plant on the west coast of Saudi Arabia, is a joint venture between Saudi Aramco and Sumitomo Chemical. The company produces refined products and petrochemicals that are used in end products such as plastics, detergents, lubricants, resins, coolants, anti-freeze, paint, carpets, rope, clothing, shampoo, auto interiors, epoxy glue, insulation, film, fibers, household appliances, packaging, candles, pipes and many other applications.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the fiscal year ended September 28, 2018, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/petro-rabigh-selects-jacobs-for-fuel-oil-upgrade-project-in-saudi-arabia-300803010.html
SOURCE Jacobs
Article Date
2/28/2019Jacobs Named Engineering Design Manager for California WaterFix
Source: PR Newswire
DALLAS, Jan. 22, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been selected by the Delta Conveyance Design and Construction Authority (DCA) for engineering design management (EDM) services related to the California WaterFix program. Estimated at $17 billion in 2017, WaterFix is California's largest water conveyance project, designed to bolster the reliability of the state's water supplies, while protecting and enhancing the San Francisco Bay-Delta estuary, a vital environmental asset.
The California WaterFix program, slated to begin in early 2019, will upgrade outdated and unreliable water infrastructure that is more than 50 years old and dependent on levees that put clean water supply at risk from earthquakes and sea-level rise.
"WaterFix is one of the highest profile infrastructure projects in the nation, essential to secure clean water supplies for 27 million people, area businesses and three million acres of agricultural land," said Jacobs COO and President of Buildings, Infrastructure and Advanced Facilities Bob Pragada. "Building on our long-term relationship with California water agencies, DCA will tap into our extensive water infrastructure and engineering design experience to begin modernization of California's water delivery system."
Jacobs' initial $93 million contract with DCA will support the preliminary and final engineering design phase of the 15-year program. Major infrastructure components include three water diversion intakes (3,000 cfs each) with state-of-the-art fish screens, two large tunnels (40-foot diameter and 35 miles long), two large pumping stations (4,500 cfs each) and miles of new roads and utility relocations.
Following more than a decade of studies, WaterFix emerged as the most effective solution to address California's water shortages while also improving environmental conditions in the Sacramento-San Joaquin Delta – such as reducing the harmful impacts of the existing infrastructure diversions near endangered fish habitats and reinstating more natural river flows.
WaterFix also stands to generate nearly 122,000 jobs for the region and offer greater water security, enhanced disaster preparedness and climate change resilience for millions of California residents, businesses and agriculture that obtain their water from the Delta.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the fiscal year ended September 28, 2018, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs
Article Date
1/22/2019Woodside Selects Jacobs to Deliver Brownfields Engineering and Procurement Services
Source: PR Newswire
DALLAS, Dec. 2, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has been awarded a three-year outline agreement from Woodside Energy Limited to provide brownfields engineering and procurement services for the Karratha Gas Plant (KGP) in Western Australia. The KGP is one of the most advanced integrated gas production systems in the world, servicing Australia's largest oil and gas development, the North West Shelf Project.
"We are pleased to extend our relationship with Woodside. Our proven track record of delivering long-term brownfields sustaining capital programs across the world ideally positions us to support the entire program life cycle for Woodside's Karratha Gas Plant," said Jacobs Energy, Chemicals and Resources President Vinayak Pai. "Our experience in program management and commitment to continuous improvement and digital solutions will help ensure Woodside's program is a success."
In addition to this sustaining capital contract, Jacobs has been delivering engineering and consulting services to Woodside across its portfolio of assets in Western Australia.
Woodside, headquartered in Perth, is one of Australia's leading LNG operators and the country's largest independent oil and gas company.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2018 revenue and a talent force of more than 80,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs Engineering Group Inc.
Article Date
12/2/2018Jacobs-Designed Water Reuse Project Wins WEF Project Excellence Award
Source: PR Newswire
DALLAS, Nov. 20, 2018 /PRNewswire/ -- The Water Environment Federation recently awarded a 2018 Project Excellence Award to the Central Pasco County Beneficial Water Reuse Project, the 4G Wetlands, designed by Jacobs Engineering Group Inc. (NYSE:JEC).
Since 2010, Jacobs, alongside Pasco County Utilities and the Southwest Florida Water Management District, has provided a full-range of design, permitting and services during construction for the 4G Wetlands, a multifunctional project addressing decades-long concerns regarding groundwater drawdowns in areas affected by public water supply wellfields.
"This innovative, reclaimed water project facilitates a more holistic watershed management approach," said Pasco County Project Manager Jeffrey Harris. "The ability to improve an area that has seen severe ecological degradation, coupled with recharging the Upper Floridan aquifer that will provide for a more sustainable water supply for the 2.5 million people of the Tampa Bay region, serves as an example of how to better manage all freshwater resources."
The 4G Wetlands consist of a 176-acre groundwater recharge wetland system, the largest human-made system of its kind in the world, constructed on uplands pastures. The system is sized to receive five million gallons of reclaimed water per day to passively recharge the surficial and Upper Floridan aquifers, while protecting water quality.
"The wetlands are an important component of the District's mission to provide recharge in an area of hydrologic stress," said Michael Hancock, a project manager for Southwest Florida Water Management District. "In addition, they will provide valuable habitat, and an excellent example of responsible water management."
In addition to the benefits to the aquifer and the regional water resources, the project will restore the ecological functions of the historically degraded onsite lakes and wetlands and create 176 acres of new wildlife habitat within the 15 constructed wetland cells.
The 4G Wetlands project additionally received five other accolades, including a 2018 National Environmental Achievement Award from the National Association of Clean Water Agencies National Environmental Achievement Award and the David W. York Water Reuse 2017 Project of the Year Award from the Florida Water Environment Association.
"The now six-time award-winning and multifunctional 4G Wetlands are a great example of how organizations can utilize public-private partnerships to maximize the benefits of water reuse and use this valuable resource for its highest purpose – ecology and water supply," said Rafael Vazquez-Burney, Jacobs principal technologist and 4G Wetlands project manager. "It's both an honor and a privilege to be recognized by the Water Environment Federation, and to partner with the Southwest Florida Water Management District and Pasco County on their first project of this caliber."
The 4G Wetlands project accepted its award at the 91st Annual Water Environment Federation Technical Exhibition and Conference held in New Orleans, Louisiana, Sept. 29 - Oct. 3, 2018. Four Jacobs operations and maintenance teams in Florida – in Key West, Pembroke Pines, West Melbourne and The Villages, also received WEF's 2018 Water Heroes Award at the event for their response work during the 2017 hurricane season.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs Engineering Group Inc.
Article Date
11/20/201811/15/2018 - Jacobs Selected for 10-Year Contract to Operate Wastewater Utilities for City of Waterbury
Jacobs Selected for 10-Year Contract to Operate Wastewater Utilities for City of Waterbury
Source: PR Newswire
DALLAS, Nov. 15, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) will operate, maintain and optimize wastewater systems under a 10-year contract with the City of Waterbury in Connecticut. Jacobs will assume responsibility for the city's water pollution control plant, collection system and related utilities in November.
The city estimates the contract value at $62 million and projects a savings of up to $12.7 million over its previous operating model. Waterbury considered several options after sewer overflows in late 2017 impacted the Naugatuck River and watershed. City officials opted to seek the support of an industry-leading operator and technical-services provider to execute a strategy that combines operations and asset management with technical services, planning and extensive support from regional resources.
"Given Jacobs' extensive operations and asset management experience, we plan to leverage our knowledge in these areas to help Waterbury manage its utilities effectively as equipment ages, regulations tighten and other challenges arise," said Jacobs Vice President of Operations Management and Facilities Services Steve Meininger. "Waterbury chose Jacobs because our proposed operating team assessed the city's wastewater facilities and developed a whole-program approach to utility operations."
Waterbury retains ownership and decision-making authority for its 27-million-gallon-per-day facility, sewer collection system and pumping equipment. Jacobs' project approach is structured to monitor treatment processes and equipment closely, apply proactive maintenance practices and train and support operations staff. The operating plan includes upgrades, treatment process adjustments and long-term facility planning. Waterbury also will benefit from Jacobs' substantial experience in emergency response planning and incident mitigation.
"The Naugatuck River is an environmental asset and a key element of our city's identity and economy. We intend to do everything in our power to protect it," said Waterbury Mayor Neil O'Leary. "With this partnership, we are confident that the city is being put in the best possible position to prevent future incidents and keep our community water sources vibrant for years to come."
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs Engineering Group Inc.
Article Date
11/15/2018Jacobs Accelerates Portfolio Transformation with Sale of Energy, Chemicals and Resources Business to WorleyParsons for $3.3 Billion
Source: PR Newswire
DALLAS, Oct. 21, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) today announced that it has entered into a definitive agreement to sell its Energy, Chemicals and Resources (ECR) segment to WorleyParsons Limited (ASX: WOR) for $3.3 billion, consisting of $2.6 billion in cash and $700 million in WorleyParsons ordinary shares. The transaction value represents a multiple of more than 11.5 times trailing twelve-month (TTM) adjusted EBITDA for the ECR business1.
Following the completion of the transaction, Jacobs will be focused solely on its two higher growth, higher margin lines of business – Aerospace, Technology, Environmental & Nuclear (ATEN) and Buildings, Infrastructure & Advanced Facilities (BIAF).
"For Jacobs, this transaction marks an inflection point in our portfolio transformation focused on more consistent, higher-margin growth as a leader solving the world's critical challenges," said Jacobs Chairman and CEO Steve Demetriou. "The increased financial flexibility we gain from this sale better positions us to invest in our ATEN and BIAF businesses, focusing our premier talent and expertise on technology, innovation and sustainable solutions that are priorities for our infrastructure and government services clients. These capabilities, along with our strong backlog and efficient global platform, will further strengthen our global leadership in these segments to drive meaningful value creation."
The company will report results for fiscal 2018 on Nov. 20.
"While we are in the process of finalizing our fiscal 2018 results, our current view is materially consistent with previously announced guidance for the year," said Jacobs CFO Kevin Berryman. "In addition, we continue to believe that the adjusted EPS guidance provided for fiscal 2019 remains appropriate, keeping in mind that such guidance did not reflect any impact from the pending transaction announced today."
"Upon closing of this transaction, we plan to initially apply proceeds to pay down floating-rate debt," Berryman added. "Beyond that, our strong financial flexibility and free cash flow will support incremental profitable growth investments and capital returns to shareholders, consistent with our record of disciplined allocation yielding attractive growth and value creation. And of course, Jacobs will continue to benefit from our ECR business' earnings and cash flow through the closing of the transaction."
Use of Proceeds
Upon closing, Jacobs expects to receive approximately $2.6 billion in net proceeds from the transaction, which initially will be used to pay down floating-rate debt, while also maintaining a disciplined approach to deploy capital for increased shareholder value, including mergers and acquisitions. The company will provide further details about its capital allocation strategy, as well as its updated pro forma financial outlook, at the company's investor day on February 19, 2019.
WorleyParsons Equity
Together, ECR and WorleyParsons will be a global leader with the talent, industry sector, customer and geographic diversity needed to compete and win. The structure of the transaction enables Jacobs to benefit from the near-term upside created by the combination and the oil and gas market recovery.
At the close of the transaction, Jacobs will receive approximately 58.2 million shares of WorleyParsons stock, which will equate to approximately 11 percent of WorleyParsons ordinary shares based on WorleyParsons' outstanding shares post-close. The shares will be subject to a six-month holding requirement (but not earlier than Aug. 31) following the transaction's closing.
Approvals and Time to Close
The Jacobs Board of Directors and the WorleyParsons Board of Directors each have approved the transaction. The transaction is expected to close in the first half of calendar 2019, subject to customary closing conditions and regulatory approvals.
Advisors
Perella Weinberg Partners LP is serving as financial advisor to Jacobs, and Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal counsel.
Wachtell, Lipton, Rosen & Katz also served as legal advisor to Jacobs. Centerview Partners provided financial advice to the company.
Conference Call
Jacobs will host a conference call tomorrow, Monday, Oct. 22, at 8:00 AM ET to discuss this announcement with the financial community. The conference call can be accessed by dialing (866) 324-3683 (U.S./Canada) or (509) 844-0959 (international), and by entering the passcode 9868327. A replay will be available by dialing (855) 859-2056, or (404) 537-3406. Use the code 9868327 to access the replay.
Interested parties can listen to the conference call and view accompanying slides on the investor page at www.jacobs.com.
About Jacobs
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Aerospace, Technology, Environmental and Nuclear
Through its ATEN business, Jacobs stands as one of the world's largest diversified government services providers. ATEN's talent force of approximately 15,500 professionals support operational mission planning and execution, cybersecurity, scientific research, environmental planning, assessment and remediation, and nuclear solutions for government and commercial clients.
Buildings, Infrastructure and Advanced Facilities
Jacobs' BIAF business provides complete solutions delivery for private and public-sector clients in high growth markets of water, transportation, aviation, buildings, life sciences and electronics. With a talent force of more than 33,000 professionals providing a range of services from planning and design through construction- and program-management and operations utilizing a number of delivery platforms.
Non-GAAP Financial Measures
Pro-forma adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") for the Energy, Chemicals and Resources ("ECR") business is calculated by adding back depreciation and amortization expense to ECR segment operating profit (as defined in Jacobs' quarterly filings on Form 10-Q and annual reports on Form 10-K). Additionally, CH2M results (including depreciation and amortization) associated with the ECR segment are included on a pro-forma basis as if the acquisition occurred as of the beginning of the trailing twelve-month ("TTM") period presented. Finally, other corporate adjustments deemed related to ECR which were not previously reported in the ECR segment operating results have been allocated to the ECR segment as noted below. The following table reconciles ECR segment operating profit to the Adjusted TTM EBITDA. Amounts are shown in thousands, except Enterprise Value to Adjusted TTM EBITDA ratio:
Non-GAAP Reconciliation Table | TTM ended 6/29/2018 |
ECR Segment Operating profit | $ 205,965 |
Depreciation and Amortization | $ 52,800 |
Other corporate and pro forma adjustments | $ 26,300 |
Adjusted TTM EBITDA | $ 285,065 |
Enterprise Value | $ 3,300,000 |
Enterprise Value/Adjusted TTM EBITDA | 11.58 |
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this press release that are not based on historical fact are forward-looking statements, including statements regarding whether and when the transaction between Jacobs and WorleyParsons will be consummated and the anticipated benefits thereof. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. The potential risks and uncertainties include, among others, the possibility that Jacobs and WorleyParsons may be unable to obtain regulatory approval or that other conditions to closing the transaction may not be satisfied, such that the transaction will not close or that the closing may be delayed; general economic conditions; the possibility of unexpected costs, liabilities or delays in connection with the transaction; risks that the transaction disrupts our current plans and operations; the ability to recognize the benefits of the transaction; the amount of the costs, fees, expenses and charges related to the transaction; the outcome of any legal proceedings related to the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the Stock and Asset Purchase Agreement. For a description of some additional factors that may occur that could cause actual results to differ from forward-looking statements see our Annual Report on Form 10-K for the year ended September 29, 2017, in particular the "Risk Factors" discussions thereunder as well as our other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
For additional information contact:
Investors:
Jonathan Doros, 214-583-8596
jonathan.doros@jacobs.com
Media:
Lorrie Paul Crum, 303-525-2916
lorrie.crum@jacobs.com
__________________________
1 TTM based on June 2018. See reconciliation table at the end of this press release.
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SOURCE Jacobs Engineering Group Inc.
Article Date
10/21/2018Jacobs Awarded EPC Contract for Sirius Minerals' New Materials Handling Facility
Source: PR Newswire
DALLAS, Oct. 11, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) received an engineering, procurement and construction (EPC) contract from Sirius Minerals PLC for its new materials handling facility (MHF) in Teesside, England. The MHF is being constructed as part of the company's North Yorkshire Polyhalite Project, which will supply a unique type of potash fertilizer.
Fertilizers play an important role in the agriculture industry and in food supply, providing the nutrients required for healthy plant growth. Polyhalite is a unique multi-nutrient mineral containing four of the six macro-nutrients that plants need: potassium, sulfur, magnesium and calcium. The MHF will crush the polyhalite ore from the mine near Whitby, England, and granulate it for use in agricultural equipment before sending it to the nearby dock for shipping.
"As the EPC provider for Sirius Minerals' materials handling facility, Jacobs is delivering more than a full life cycle solution on this project—we're delivering a facility that is scalable and able to support changing agriculture needs," said Jacobs Mining, Minerals and Technology Senior Vice President and General Manager Andrew Berryman. "From the run of mine stockpile to the final product loadout, the materials handling facility will contribute to local and global food supply."
Jacobs is designing the MHF to handle seven million tonnes per annum (MTPA) of granulated product in its first phase of development, with expansion considerations being developed into the design to support up to 20 MTPA of the granulated product. In addition, the facility will also handle three MTPA of coarse product.
"Securing a partnership with a company the calibre of Jacobs is great for us and a testament to the world-class nature of this project," said Sirius Minerals Chief Development Officer Simon Carter. "Their knowledge of EPC projects in the mining sector is hugely valuable, as is their experience of construction projects on Teesside."
Through the development of its North Yorkshire Polyhalite Project, the world's largest and highest-grade deposit, Sirius Minerals will become a leading global producer of polyhalite. At full production, the project will create over 1,000 direct jobs and many more indirectly, and has the potential to generate over £2 billion of annual exports for the U.K.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-awarded-epc-contract-for-sirius-minerals-new-materials-handling-facility-300728497.html
SOURCE Jacobs Engineering Group Inc.
Article Date
10/11/201810/10/2018 - Jacobs Receives Contract Extension by Department of Energy for Environmental Cleanup at Hanford Site
Jacobs Receives Contract Extension by Department of Energy for Environmental Cleanup at Hanford Site
Source: PR Newswire
DALLAS, Oct. 10, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has been awarded a 12-month contract extension by the Department of Energy (DOE) for continued safe and efficient environmental remediation efforts along the Columbia River and selected portions of the Hanford site. The DOE announced its intention to extend Jacobs' existing 10-year contract from its original October 1, 2018 end-date through September 20, 2019.
"Our team brings considerable innovative solutions with unmatched capability for this important project," said Jacobs Aerospace, Technology, Environmental and Nuclear Senior Vice President of North American Nuclear Karen Wiemelt. "We stay committed to the Department of Energy in delivering results that are safe and efficient."
With an expanded scope, workers will continue to progress on demolition projects, retrieval of radioactive material, soil and groundwater remediation, and waste treatment and disposal. Additional scope has been added to the extension, such as completing 618-10 Burial Ground revegetation, performing slab removal on the Central Plateau, and maintaining the Fast Flux Test Facility (FFTF) complex safely and compliantly while also treating and disposing of sodium waste.
DOE said in the announcement of the extension, "Jacobs as the incumbent contractor is the only contractor who has the unique qualifications to continue the necessary activities at the DOE Hanford site without a break in service until award is made of the on-going competitive procurement."
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content to download multimedia:http://www.prnewswire.com/news-releases/jacobs-receives-contract-extension-by-department-of-energy-for-environmental-cleanup-at-hanford-site-300727368.html
SOURCE Jacobs Engineering Group Inc.
Article Date
10/10/2018Jacobs Secures New Framework Agreements on Dounreay Decommissioning Program
Source: PR Newswire
DALLAS, Oct. 2, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has been awarded two four-year framework agreements by Dounreay Site Remediation Limited (DSRL) to provide design and engineering services, and safety case production and peer review services. Located in Caithness County, Scotland, the Dounreay site is one of the most complex nuclear decommissioning programs in Europe, with extensive remediation activities underway to return the site to as near its original condition as possible.
"Building on our 23 years' experience providing full life-cycle solutions at Dounreay, Jacobs is an industry leader in nuclear decommissioning and program management with an established profile of working in the local community," said Jacobs Aerospace, Technology, Environmental and Nuclear International Senior Vice President Pete Lutwyche. "We will continue to leverage our experience to support our shared vision with DSRL to make the site and surrounding area safe and clean for future generations."
Jacobs is one of six companies eligible to tender under both framework agreements. The scope of work under the $15–19 million (£12–15 million) design and engineering services agreement includes: design, construction management, specialist engineering services, environmental restoration, software modelling, commissioning support services and the development of waste strategy documents for DSRL. The safety case and peer review framework will see between $10–13 million (£8–10 million) of work delivered through the agreement and will include various levels of detailed safety reporting, radiation and fire assessments, as well as in-depth reviews of site safety and compliance.
DSRL will see the removal of the site's nuclear legacy into an eventual end state of greenfield land. The Dounreay site was the U.K.'s center of fast reactor research and development of nuclear energy from 1955 until 1994 and is now Scotland's largest nuclear clean-up and demolition project. The experimental nature of many of its redundant facilities means the clean-up and demolition requires innovation as well as great care. DSRL is responsible for managing the chemical and radiological hazards at Dounreay in a way that protects people and the environment, investing a great deal of effort in its systems and practices to ensure operations are conducted safely.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs Engineering Group Inc.
Article Date
10/2/2018Jacobs Promotes Executives to Support Continued Profitable Growth and Differentiated Leadership in the Professional Services Sector
Source: PR Newswire
DALLAS, Sept. 26, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) announced executive promotions to further support the company's leadership and profitable growth in the professional services sector. The appointments become effective Oct. 1, 2018.
"These promotions reflect the strong contributions these executives have made to Jacobs' growth and success and our belief that, in these new roles, they can help take the company even further," said Jacobs Chairman and CEO Steve Demetriou.
Terry Hagen and Bob Pragada each have been promoted to the newly created chief operating officer (COO) roles, reflecting expanded leadership responsibilities.
Hagen will continue to lead the Aerospace, Technology, Environmental and Nuclear business. He will also oversee several corporate teams, including Federal Government Relations; International Relations; Information Technology (IT); and a newly created Technology and Innovation function to address growing demand for advanced, technology-driven solutions that differentiate Jacobs within the industry.
Pragada will continue to lead Jacobs' Buildings, Infrastructure and Advanced Facilities business, which is being expanded to include global (non-nuclear) environmental solutions. In addition, Jacobs' Energy, Chemicals and Resources (ECR) business will align to Pragada in his COO role, with Vinayak Pai, ECR president, reporting to him. This consolidates Jacobs' major consulting, engineering, maintenance and project delivery lines of business under Pragada, whose purview also will include the company's Contracts Management function, as well as State and Local Government Relations.
The company will continue to go to market in and report financial results for three lines of business.
Kevin Berryman, chief financial officer, will assume an expanded scope of responsibility. In addition to leading finance, investor relations, strategy and M&A, Berryman will assume the additional responsibilities of leading real estate, Global Business Services, strategic project integration and corporate communications functions.
Joanne Caruso will be promoted to chief legal and administration officer. In this role, Caruso will oversee Legal, Human Resources, Compliance, and Insurance functions, as well as the company's Sales and Operational Centers of Excellence. The latter includes project delivery, global supply management, sustainability, health, safety, environment, global security and resilience.
About Kevin Berryman
Before joining Jacobs in 2015, Berryman spent nearly six years as EVP and CFO at International Flavors and Fragrances Inc., an S&P 500 company and global creator of flavors and fragrances used in a wide variety of consumer products. Prior to that he worked at Nestle for 25 years where he held various financial and operational roles including treasury, M&A, strategic planning, and CFO of Nestle's largest ever acquisition, Ralston Purina. Berryman earned his undergraduate degree at Occidental College, and MBA from UCLA Anderson School of Management.
About Joanne Caruso
Prior to her current role, Caruso was senior vice president of human resources and previously vice president, global litigation, within the legal organization. Prior to joining Jacobs in 2012, Caruso was a partner in two international law firms, Howrey LLP and Baker & Hostetler. She was named one of the top 100 attorneys in California and repeatedly was named one of California's Top 75 Women Litigators. She is a graduate of Boston College and Boston College Law School.
About Terry Hagen
Since joining Jacobs in 1987, Hagen has served in a variety of senior operational and sales roles for various markets, including as executive vice president of global sales and marketing, and most recently, as president of Jacobs' Aerospace, Technology, Environment and Nuclear business. Hagen is a graduate of the University of Kansas, where he earned a Bachelor of Science in civil engineering.
About Bob Pragada
Pragada joined Jacobs in 2006, holding several senior management positions over nine years. He returned to Jacobs in 2016 after serving as CEO of the Brock Group, a $1.5 billion provider of industrial specialty services. After graduating from the United States Naval Academy, he began his career in the Navy as a Civil Engineer Corps and Seabees officer, providing base construction and maintenance services and international contingency operations, rising to the rank of Lieutenant Commander. He also earned a Master of Science in engineering and management from Stanford University.
About Jacobs
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
Jacobs Contacts
Investors:
Jonathan Doros, 817-239-3457
jonathan.doros@jacobs.com
Media:
Lorrie Paul Crum, 303-525-2916
lorrie.crum@jacobs.com
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SOURCE Jacobs Engineering Group Inc.
Article Date
9/26/2018Jacobs Shares Insights with Investors on Rising Demand for Water Management Solutions
Source: PR Newswire
DALLAS, Sept. 20, 2018 /PRNewswire/ -- At a time of unprecedented urbanization and climate-induced threats, the World Economic Forum ranks water among the top ten risks facing the planet, from severe droughts to catastrophic flooding. During an investor webcast hosted this week by Bank of America, executives of Jacobs Engineering Group Inc. (NYSE:JEC) shared insights and examples about the company's leadership addressing water ecosystem and infrastructure challenges. The presentation and replay of the webcast are posted on Jacobs' investor website.
"Urban water demands are projected to rise 80 percent by the year 20501, a pace that will see more than a fourth of the world's largest cities outstrip their freshwater capacity in our lifetime," said Jacobs Global Director of Water and Senior Vice President Peter Nicol. "To combat these challenges, Jacobs is advancing the industry's most in-demand solutions and technological innovations for holistic water management and resiliency."
Nicol joined Jacobs Buildings, Infrastructure and Advanced Facilities President Bob Pragada and Executive Vice President Greg McIntyre to discuss addressable markets and growth prospects for the company's global water business serving agriculture, industrial and municipal clients' needs for technologically advanced facilities, operations management and solutions to combat climate and security threats. Among examples highlighted:
Known for introducing industry innovations such as the world's first aquifer storage and recovery project and the first use of membrane-reactor technology for wastewater treatment, the company in 2015 was honored with the Stockholm Industry Water Award for its leadership advancing clean water methodologies and technologies and increasing public acceptance of potable reuse. This is the topic of a white paper Jacobs will publish in October, titled "The Water of Our Future Is the Water of Our Past."
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
Jacobs Contacts | |
Investors: | Media: |
Jonathan Doros, 817-239-3457 | Lorrie Paul Crum, 303-525-2916 |
1 Flörke, Martina; Schneider, Christof; and McDonald, Robert I.: Nature Sustainability Journal, "Water competition between cities and agriculture driven by climate change and urban growth", January, 2018.
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SOURCE Jacobs Engineering Group Inc.
Article Date
9/20/2018International Water Association Honors Jacobs, VCS Denmark for Water-Energy Innovation
Source: PR Newswire
DALLAS, Sept. 19, 2018 /PRNewswire/ -- The International Water Association awarded its 2018 Project Innovation Awards, recognizing VCS Denmark and its Beyond Energy Neutrality Program, supported by Jacobs Engineering Group Inc. (NYSE:JEC), as an outstanding example of innovation in the water sector.
The Beyond Energy Neutrality Program, which earned the silver award in the Performance Improvement and Operational Solutions category, embraces new approaches to managing the water-energy nexus. Jacobs began working on the program in 2012 when selected to help transform Odense, Denmark's, largest wastewater treatment plant – Ejby Mølle – from a large electrical power consumer to a net producer of electricity and heat energy capable of serving more than 400,000 people.
The plant achieved energy neutrality in 2013 by leveraging carbon redirection to reduce process energy consumption while increasing energy generation from a biogas-driven combined heat power system. The Ejby Mølle wastewater treatment plant now generates more than 150 percent of its energy, virtually eliminating the need for external power from the grid.
"VCS Denmark strives to be a model for incorporating sustainability principles in its operations," said Jacobs Global Director of Wastewater Solutions and Vice President Julian Sandino. "Very few treatment facilities can consider themselves energy self-sufficient, let alone net energy positive. This award is a tremendous tribute to their efforts and we are grateful for the opportunity to accompany VCS in advancing sustainable water resource recovery."
Today, Jacobs continues helping VCS with development of an ambitious, industry-first demonstration program focused on how an emerging technology called membrane aerated biofilm reactor might deliver further energy savings, while reducing greenhouse gas emissions and requiring a much smaller facility footprint.
In their 12th year, IWA's Project Innovation Awards recognize and promote excellence and innovation in water management, research and technology and are given at the World Water Congress & Exhibition held this year in Tokyo.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
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SOURCE Jacobs Engineering Group Inc.
Article Date
9/19/2018Jacobs Selected for Program Management Consultancy in Benin
Source: PR Newswire
DALLAS, Sept. 11, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC), through its joint venture Jacobs Engineering S.A. (JESA), has been awarded a four-year contract from the Millennium Challenge Account-Bénin II (MCA-Benin II) for the implementation of the Benin Power Compact, which will strengthen the national electricity infrastructure of the country when completed in 2022. Jacobs' scope of work includes engineering, as well as project and construction management, for four photovoltaic solar power plants, new transmission lines, new substations and a dispatch center.
Increasing Benin's power generation capacity and modernizing the country's electricity distribution infrastructure, the Benin Power Compact aims to increase its total installed capacity by almost 46 megawatts through leveraging political reform and institutional strengthening in the region to prioritize power generation, power distribution and access to off-grid electricity. This 46 megawatt increase represents 20 percent of current demand for the country during peak periods, which will reduce dependence on external supply sources.
Delivering this energy program to extend Benin's existing network capacity, Jacobs is working in close collaboration with various ministries and government agencies of Benin and the Beninese Company of Electrical Energy (SBEE) to improve infrastructure reliability and meet future growth needs of the nation.
The largest professional services firm in Morocco with additional operations in Côte d'Ivoire, Senegal, Guinea, Ethiopia, Rwanda and Tunisia, JESA is a joint venture between two world leaders, the OCP Group and Jacobs.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
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SOURCE Jacobs Engineering Group Inc.
Article Date
9/11/2018SATORP Awards Jacobs General Engineering Services Contract
Source: PR Newswire
DALLAS, Aug. 15, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has received a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company (SATORP) for its subsidiary in the Kingdom of Saudi Arabia, Jacobs Zamel and Turbag Consulting Engineers (Jacobs ZATE), to provide general engineering services at SATORP's facilities in Jubail Industrial City 2 on the Arabian Gulf coast.
Jacobs continues to provide a range of services, from basic engineering to Front End Engineering Design (FEED), detailed design, procurement through to construction management, commissioning support and handover of small to medium sized capital investments to sustain the operations of the SATORP Jubail II refinery. The services are led by a dedicated team from Jacobs ZATE in Al-Khobar, Saudi Arabia.
"SATORP's continued trust in our proven capabilities as a world-class engineering and construction management company is a testament of our commitment as a valued partner in the region," said Jacobs Energy, Chemicals and Resources Senior Vice President and General Manager EMEA David Zelinski. "This contract renewal reaffirms our strong relationship with SATORP and our long-standing position in the Kingdom."
Jacobs has operated in Saudi Arabia for more than 40 years, developing strong partnerships with the Kingdom's industrial leaders including, Saudi Aramco, Saudi Basic Industries Corporation (SABIC) and Saudi Arabian Mining Company (Ma'aden). Examples of the company's work in the Middle East include BP Khazzan Oman Gas Field, Sinnovate Smart Technology Hub, Zuluf Gas/Oil Separation Plant FEED, King Abdulaziz Project for Riyadh Public Transport, Sadara Chemical Company, Prince Mohammed bin Abdulaziz International Airport, Ma'aden Wa'ad Al-Shamal Phosphate Company and numerous infrastructure projects with the Saudi Industrial Property Authority (MODON).
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content with multimedia:http://www.prnewswire.com/news-releases/satorp-awards-jacobs-general-engineering-services-contract-300697300.html
SOURCE Jacobs Engineering Group Inc.
Article Date
8/15/2018Jacobs Selected by Keyera for Phase Two of Wapiti Gas Plant Expansion
Source: PR Newswire
DALLAS, Aug. 8, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) was awarded a contract for engineering services for Keyera's Wapiti Gas Plant Phase Two expansion, adding 150 million cubic feet per day of sour gas processing to the plant currently under construction near Grande Prairie, Alberta, Canada. Keyera estimates construction of this second phase to be complete mid-2020 at a total installed cost of $150 million.
Jacobs engineered the Wapiti Gas Plant Phase One and will now design a second train, expanding Keyera's capacity in the liquids-rich Montney region of northwestern Alberta. Investment is growing in this area as Keyera develops critical assets and infrastructure contributing to the economic sustainability of the region.
"Keyera operates one of the largest independent midstream energy companies in Canada, is a cornerstone client for Jacobs in Alberta, and we are committed to supporting their Wapiti Development project," said Jacobs Energy, Chemicals and Resources President Vinayak Pai. "This contract builds on Keyera's already impressive gas gathering and processing business in the midstream industry in Canada."
At full build-out of both phases of the project, the new facility is expected to process up to 300 million cubic feet of sour gas and 25,000 barrels of field condensate per day.
Jacobs will support this project from its Calgary office, which represents the company's center of excellence in North America for natural gas liquids, gas treating and processing and sulfur solutions, delivering innovation and value for its upstream and midstream clients.
Keyera services oil and gas producers in Western Canada and markets natural gas liquids such as propane, ethane, butane, condensate and iso-octane to markets throughout North America.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
View original content with multimedia:http://www.prnewswire.com/news-releases/jacobs-selected-by-keyera-for-phase-two-of-wapiti-gas-plant-expansion-300693012.html
SOURCE Jacobs Engineering Group Inc.
Article Date
8/8/20187/11/2018 - Equinor Awards Jacobs Feasibility Study for Conversion of Natural Gas to Hydrogen in Power Production
Equinor Awards Jacobs Feasibility Study for Conversion of Natural Gas to Hydrogen in Power Production
Source: PR Newswire
DALLAS, July 11, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) was awarded a feasibility study contract from Equinor Energy AS to evaluate the possibilities for building a hydrogen production plant, including CO2 capture and export facilities, in Eemshaven, the Netherlands. The hydrogen will be supplied as fuel to an existing natural gas-fired power plant that will be converted into a hydrogen-fueled power plant designed to lower the plant's carbon emissions at a large scale.
The award of the feasibility study follows the Memorandum of Understanding of Equinor, with its partners Vattenfall and Gasunie, to evaluate the possibilities of converting Vattenfall's gas power plant Magnum in Eemshaven into a hydrogen-powered plant.
"Getting the opportunity to work with Equinor to study the possibilities of gas-to-hydrogen conversion and contribute to a significant CO2 reduction is meaningful to Jacobs in many ways," says Jacobs Senior Vice President and General Manager Energy and Chemicals EMEA David Zelinski. "The award enables us to leverage our expertise in gas processing and aligns perfectly with our vision to deliver innovative and sustainable solutions to our clients."
Building on Jacobs' expertise in hydrogen, reformer technology and CO2 capture, the study performed by Jacobs will focus on the objective of selecting the most effective reformer technology for hydrogen production together with a suitable CO2 capture technology. Jacobs will also deliver the conceptual design of the plant as a basis for economic evaluation and further project definition.
In order to avoid CO2 emissions from the hydrogen production process, up to three million tons per year of CO2 will be captured and then liquefied for ease of transportation to Norway, where it will be injected and stored in an off-shore reservoir. The first of three Magnum plant units should be converted to run on natural gas by early 2024.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
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SOURCE Jacobs Engineering Group Inc.
Article Date
7/11/2018Jacobs Selected by Eastman for Construction, Maintenance and Turnaround Services at Two Manufacturing Facilities
Source: PR Newswire
DALLAS, July 10, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) was awarded a contract from Eastman Chemical Company to provide capital construction, maintenance and turnaround services at its facilities in Longview, Texas, and Kingsport, Tennessee.
This contract represents additional maintenance services scope at the Kingsport facility where Jacobs has previously provided capital construction services. The company will also expand its delivery to maintenance and construction at Eastman's Longview facility.
"Our execution approach drives increased productivity while delivering cost efficiencies through resource and program operations synergies," said Jacobs Construction, Maintenance and Turnarounds Senior Vice President and General Manager Stephen Hillier. "This enterprise-wide delivery model allows us to create value for Eastman, which they can use to drive their innovation and sustainability efforts."
Jacobs has supported Eastman's vision since 2010, providing construction support for major capital projects at its largest manufacturing sites.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content with multimedia:http://www.prnewswire.com/news-releases/jacobs-selected-by-eastman-for-construction-maintenance-and-turnaround-services-at-two-manufacturing-facilities-300678235.html
SOURCE Jacobs Engineering Group Inc.
Article Date
7/10/2018Jacobs Secures Roles on Engineering Panels for Leading Australian Energy Utility
Source: PR Newswire
DALLAS, July 3, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has been appointed to AusNet Services' Regulated Energy Services (RES) panel for a three-year contract, with two single-year extensions, that involves undertaking engineering and design work for its regulated transmission and distribution assets. This includes both greenfield and brownfield asset upgrades, infrastructure replacements and the delivery of new energy infrastructure in a rapidly changing and innovative sector.
A second panel agreement has also been signed by Jacobs to provide engineering and design services to AusNet Services' Commercial Energy Services (CES) unregulated business, which includes renewable energy connections. Subject to performance, this panel will cover the same length of time as the RES Panel.
"During the past decade, Jacobs has contributed to the development of significant high voltage infrastructure for AusNet Services in Victoria, with concept design support for the development of 'build, own, operate' proposals for network connections, to renewable energy developers and clients," said Jacobs Buildings and Infrastructure Asia Pacific / Middle East Senior Vice President and General Manager Patrick Hill. "We've provided interface design to successfully augment new infrastructure to the existing substations and overhead lines, and will continue to leverage our experience to help AusNet provide critical services to energy customers."
AusNet Services recently embarked on the implementation of a new corporate strategy, known as Focus 2021, intended to grow its contracted energy infrastructure (CES) asset base to $1 billion and to operate all three core networks in the top quartile of efficiency benchmarks. The support that Jacobs will provide to AusNet under the recently signed panel agreements aims to help them achieve these goals.
"Jacobs is one of our trusted partners in delivering new unregulated infrastructure projects," said AusNet Services Executive General Manager of CES Chad Hymas. "Our teams complement one another, and together we have moved well beyond the traditional service provider/principal relationship."
As the largest energy delivery service business in the Australian state of Victoria, AusNet Services owns and operates approximately $8.3 billion (A$11 billion) of electricity and gas distribution assets that connect into more than one million customers.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content with multimedia:http://www.prnewswire.com/news-releases/jacobs-secures-roles-on-engineering-panels-for-leading-australian-energy-utility-300675596.html
SOURCE Jacobs Engineering Group Inc.
Article Date
7/3/2018Jacobs Selected by ENCINA for New BTX Plant in Wyoming
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DALLAS, April 25, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) received a contract from ENCINA Chemicals, LLC to provide operations readiness (OR) support services for its new benzene toluene xylene (BTX) processing plant in Gillette, Wyoming. As part of the front-end loading (FEL 2) phase, Jacobs will evaluate operability, maintainability, layout, operations and maintenance (O&M) guidelines; provide O&M input for the hazard and operability study (HAZOP); and define the size, required capabilities and cost of the O&M workforce.
ENCINA's new processing plant will create BTX with high value aromatic hydrocarbons containing benzene, toluene and xylene. Also known as hydrogenated pyrolysis gasoline or pygas, these aromatics are extracted for further processing. When commissioned in the summer of 2020, this petrochemical plant will feature a scalable design of 200 to 400 total petroleum hydrocarbon (TPH) and produce approximately 50,000 to 100,000 tons of BTX per year.
"Our advanced Jacobs Operations Readiness and Design for Reliability processes will be implemented on ENCINA's new BTX plant to support the scalability requirements of this facility," said Jacobs Construction, Maintenance and Turnarounds Senior Vice President and General Manager Stephen Hillier. "From initial operability to ongoing maintenance, the safety of the operations and maintenance workforce will be a key focus of Jacobs and ENCINA as we work together on this project."
ENCINA Chemicals, LLC is a chemicals and advanced materials company headquartered in Coral Gables, Florida.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content with multimedia:http://www.prnewswire.com/news-releases/jacobs-selected-by-encina-for-new-btx-plant-in-wyoming-300636005.html
SOURCE Jacobs Engineering Group Inc.
Article Date
4/25/2018Saudi Aramco Selects Jacobs for Zuluf Field Development Program
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DALLAS, March 29, 2018 /PRNewswire/ -- Saudi Aramco has awarded Jacobs Engineering Group Inc. (NYSE: JEC) a contract to provide engineering and project management services for the Zuluf Field Development Program's Arab Heavy (AH) Crude Oil Increment 600 MBCD - Onshore Central Processing Facilities (CPF) project, which will provide facilities to process 600,000 barrels of oil per day of Arabian heavy crude oil from the Zuluf offshore field in the Arabian Gulf. This contract is among several oil and gas major project agreements that Saudi Aramco signed in November 2017 to enhance the company's energy sustainability, diversify the economy, expand gas production and localize domestic content.
Jacobs' scope of work includes the onshore central processing facilities which will contain a new gas/oil separation plant (GOSP), gas compression facilities, a new water injection plant and pipelines. The stabilized crude oil from the GOSP will be transported to the Ju'aymah terminal via new downstream pipelines. The separated gas and condensate streams will be transported to the proposed Tanajib Gas Plant via new pipelines.
"This landmark contract reaffirms our strong relationship with Saudi Aramco and our long-standing position in the Middle East," said Jacobs Petroleum and Chemicals President Vinayak Pai. "The Zuluf Field is one of the most significant developments of its kind, and through this project, we will support Saudi Vision 2030 by helping expand gas production and enhancing energy sustainability."
Work on the Zuluf Field Development program commenced in January 2018, with services executed in Calgary, Canada and Al-Khobar, Kingdom of Saudi Arabia. The program demonstrates Jacobs' continued commitment to support the In-Kingdom Total Value Add (IKTVA) program by maximizing locally manufactured oil and gas materials and services in Saudi Arabia. Additionally, an on-the-job training program will be instilled facilitating skill and knowledge transfer in all execution offices.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 74,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content with multimedia:http://www.prnewswire.com/news-releases/saudi-aramco-selects-jacobs-for-zuluf-field-development-program-300621243.html
SOURCE Jacobs Engineering Group Inc.
Article Date
3/29/20183/22/2018 - Kuwait Petroleum Corporation Selects Jacobs for Expansion in Local Refining Capacity Pre-Feasibility Study
Kuwait Petroleum Corporation Selects Jacobs for Expansion in Local Refining Capacity Pre-Feasibility Study
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DALLAS, March 22, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) has been awarded a contract for a pre-feasibility study, with the option of proceeding to a detailed feasibility study, for Kuwait Petroleum Corporation (KPC) and its subsidiaries. The studies are in support of KPC's strategic directions and downstream long term plans for the period up to 2040.
Jacobs will evaluate how domestic refining capacity can be best expanded, in a cost-effective way, while providing advantaged feedstocks for integrated petrochemical production. The studies will cover evaluation and optimization of alternative process configurations using an integrated Linear Program model, various technical studies, licensor evaluation, cost estimation, financial modeling and risk assessment and management, with a focus on increasing refining capacity and optimum petrochemical integration.
"As refiners across the industry look to the chemical market for profit growth, Jacobs leverages its proven, differentiated capabilities that have helped refiners explore options and define strategies for optimized refinery-petrochemical integration," said Jacobs Petroleum and Chemicals President Vinayak Pai. "This new award is an affirmation of our refining, petrochemicals and Oil-to-Chemicals (OTC) expertise and perfectly aligns with our strategy to expand services in the Middle East region."
With more than 40 years operating in the Middle East, Jacobs is planning to increase its presence in Kuwait, with an eye on long-term and continued involvement in the country's upstream, refining and petrochemical industries. Examples of the company's work in the region include BP Khazzan Oman Gas Field, Sinnovate Smart Technology Hub, Zuluf Gas/Oil Separation Plant FEED, King Abdulaziz Project for Riyadh Public Transport, Sadara Chemical Company, Prince Mohammed bin Abdulaziz International Airport, Ma'aden Wa'ad Al-Shamal Phosphate Company and numerous infrastructure projects with the Saudi Industrial Property Authority (MODON).
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 74,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
For press/media inquiries:
Kerrie Sparks
214.583.8433
Brian Morandi
720.286.0719
View original content with multimedia:http://www.prnewswire.com/news-releases/kuwait-petroleum-corporation-selects-jacobs-for-expansion-in-local-refining-capacity-pre-feasibility-study-300617979.html
SOURCE Jacobs Engineering Group Inc.
Article Date
3/22/201812/13/2017 - Jacobs and CH2M Announce CH2M Stockholder Approval of Merger and Preliminary Merger Consideration Election Results
Jacobs and CH2M Announce CH2M Stockholder Approval of Merger and Preliminary Merger Consideration Election Results
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DALLAS, Dec. 13, 2017 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) and CH2M HILL Companies, Ltd. today announced that, based on a preliminary vote tally from the special meeting of CH2M stockholders held on December 13, 2017, CH2M stockholders approved the proposal pursuant to which Jacobs will acquire CH2M pursuant to a reverse subsidiary merger. The preliminary results show that approximately 95.57% of the outstanding shares of CH2M common stock and CH2M preferred stock (on an as-converted basis) voted in favor of the merger.
Jacobs and CH2M also announced the preliminary results of the elections made by the stockholders of CH2M as to the form of merger consideration they wish to receive in connection with the merger.
Each CH2M stockholder was entitled to elect one of the following forms of merger consideration for each share of CH2M common stock and CH2M preferred stock (on an as-converted basis) held by such stockholder as of December 15, 2017, subject to the proration and adjustment procedures described below, (i) a combination of $52.85 in cash and 0.6677 shares of Jacobs common stock (the "Mixed Election Consideration"); (ii) $88.08 in cash (the "Cash Election Consideration"); or (iii) 1.6693 shares of Jacobs common stock (the "Stock Election Consideration").
Based on preliminary information following the election deadline of, 5:00 p.m., Eastern Time, on December 12, 2017, the preliminary merger consideration election results were as follows:
As provided in the Merger Agreement, dated as of August 1, 2017, between Jacobs and CH2M, CH2M stockholders who elected to receive the Cash Election Consideration or the Stock Election Consideration are subject to proration to ensure that the aggregate number of shares of Jacob Common Stock to be issued by Jacobs in the merger and the aggregate amount of cash to be paid in the merger will be the same as if all applicable CH2M stockholders received the Mixed Election Consideration.
The foregoing results are preliminary only, and final certified results are not expected to be available until following closing of the merger. Based on the preliminary results described above, it is expected that CH2M stockholders who elected the Stock Election Consideration will be subject to proration.
About Jacobs
Jacobs is one of the world's largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally. The company employs over 54,000 people and operates in more than 25 countries around the world. For more information, visit www.jacobs.com.
About CH2M
CH2M leads the professional services industry delivering sustainable solutions benefiting societal, environmental and economic outcomes with the development of infrastructure and industry. In this way, CH2Mers make a positive difference providing consulting, design, engineering and management services for clients in water; environment and nuclear; transportation; energy and industrial markets, from iconic infrastructure to global programs like the Olympic Games. Ranked among the World's Most Ethical Companies and top firms in environmental consulting and program management, CH2M in 2016 became the first professional services firm honored with the World Environment Center Gold Medal Award for efforts advancing sustainable development.
Contacts
Jacobs
|
Investors: |
Jonathan Doros |
|
817 239 3457 | |
|
Media: |
Salim Rahimi |
|
214.583.8428 | |
CH2M
Lorrie Paul Crum
303.525.2916
lorrie.crum@ch2m.com
Additional Information and Where to Find It
In connection with the proposed acquisition of CH2M by Jacobs pursuant to the terms of an Agreement and Plan of Merger by and among CH2M, Jacobs and Basketball Merger Sub Inc., Jacobs filed with the Securities and Exchange Commission (the "SEC") a Registration Statement on Form S-4 (the "Form S-4") on September 19, 2017 and Amendment No. 1 to the Form S-4 on October 24, 2017 and Amendment No. 2 to the Form S-4 on November 8, 2017, which filings contain a proxy statement of CH2M and a prospectus of Jacobs. The Form S-4 (as amended) was declared effective on November 9, 2017, and the definitive proxy statement/prospectus was mailed or otherwise disseminated to CH2M's stockholders beginning on November 10, 2017. Investors may obtain free copies of the current proxy statement/prospectus, as well as other filings containing information about Jacobs and CH2M, without charge, at the SEC's Internet website (http://www.sec.gov). Copies of these documents may also be obtained for free from the companies' websites at www.jacobs.com or www.ch2m.com
No Offer or Solicitation
This document relates to a proposed business combination between Jacobs and CH2M. This document is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This document is not a substitute for the proxy statement/prospectus or any other document that Jacobs may file with the SEC in connection with the proposed transaction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-Looking Statements
Certain statements contained in this document constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this document that are not based on historical fact are forward-looking statements, including statements regarding whether and when the proposed transaction between Jacobs and CH2M will be consummated and the anticipated benefits thereof. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. The potential risks and uncertainties include, among others, the possibility that CH2M may be unable to obtain required stockholder approval or that other conditions to closing the transaction may not be satisfied, such that the transaction will not close or that the closing may be delayed; general economic conditions; the possibility of unexpected costs, liabilities or delays in connection with the transaction; risks that the transaction disrupts current plans and operations of the parties to the transaction; the ability to recognize the benefits of the transaction; the amount of the costs, fees, expenses and charges related to the transaction and the actual terms of any financings that will be obtained for the transaction; the outcome of any legal proceedings related to the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement. For a description of some additional factors that may occur that could cause actual results to differ from forward-looking statements see the proxy statement/prospectus, Jacobs' Annual Report on Form 10-K for the period ended September 29, 2017 and CH2M's Annual Report on Form 10-K for the period ended December 30, 2016, and in particular the "Risk Factors" discussions thereunder as well as Jacobs' and CH2M's other filings with the Securities and Exchange Commission. Neither Jacobs nor CH2M is under any duty to update any of the forward-looking statements after the date of this document to conform to actual results, except as required by applicable law.
View original content with multimedia:http://www.prnewswire.com/news-releases/jacobs-and-ch2m-announce-ch2m-stockholder-approval-of-merger-and-preliminary-merger-consideration-election-results-300571126.html
SOURCE CH2M
Article Date
12/13/2017Jacobs Engineering Adds Methanol, Oil & Natural Gas Projects to Contract Slate, an Industrial Info News Alert
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SUGAR LAND, Texas, March 14, 2017 /PRNewswire/ -- Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering, procurement and construction (EPC) giant Jacobs Engineering Incorporated (NYSE:JEC) (Dallas, Texas) recently picked up some top-dollar business in the Oil & Gas Production and Chemical Processing industries, as the company has responded to service demand in the changing markets for methanol and crude-oil exploration. Industrial Info is tracking more than $94 billion in active projects involving Jacobs.
For details, view the entire article by subscribing to Industrial Info's Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.
Brian Ford
(713) 980-9393
SOURCE Industrial Info Resources, Inc.
Article Date
3/14/2017Projects & Assets
Related Projects
Saudi Aramco - Marjan Increment Development (subscriber access)
Parent Entities:
Saudi Aramco - Jacobs JV
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