Jacobs selected for Logan and Gold Coast rail project in Australia

BRISBANE - Jacobs (NYSE:J), a $15.9 billion market cap engineering firm trading at $133.54, in a joint venture with Arcadis, has been selected by the Department of Transport and Main Roads Queensland as the Project Independent Certifier for the Logan and Gold Coast Faster Rail Project, according to a press release statement.

The project aims to expand South East Queensland’s rail network by doubling tracks from two to four along a 12.4-mile corridor between Brisbane and the Gold Coast. The work will include removing five level crossings to improve safety and reduce congestion, as well as upgrading stations and improving walking and cycling connections.

The rail infrastructure upgrade is designed to address growing travel demand in the region and support the 2032 Olympic and Paralympic Games.

As Project Independent Certifier, the Jacobs-Arcadis joint venture will be responsible for ensuring quality and compliance during the design and construction phases of the project.

Keith Lawson, Jacobs Executive Vice President, said the selection reflects trust in the company’s capability to deliver complex infrastructure projects.

The Logan and Gold Coast Faster Rail Project represents a significant investment in Queensland’s transportation infrastructure, connecting Australia’s third and sixth largest cities with improved rail service.

Jacobs reported approximately $12 billion in annual revenue and employs nearly 45,000 people globally, providing services across sectors including transportation, environmental, and water infrastructure.

In other recent news, Jacobs Engineering Group Inc. reported fourth-quarter earnings that exceeded expectations, with earnings per share coming in 5% above estimates, although EBITDA was slightly below forecasts. The company’s backlog reached $23.1 billion, marking a 6% increase year-over-year and surpassing street expectations by 2%, with a book-to-bill ratio of 1.1x. Jacobs has been selected by El Paso Water to manage a $200 million infrastructure program, which will upgrade water, wastewater, and stormwater systems in a significant development near El Paso International Airport and Fort Bliss.

Goldman Sachs initiated coverage on Jacobs with a Buy rating, emphasizing the company’s strong potential for organic growth and margin expansion. KeyBanc reiterated its Overweight rating, noting that Jacobs’ fiscal year 2026 guidance aligns with its long-term growth targets. Despite these positive assessments, Bernstein SocGen Group maintained its Outperform rating, even as the company’s shares experienced a decline. Wells Fargo lowered its price target due to concerns about artificial intelligence impacting the sector, though it maintained an Equal Weight rating. These developments reflect a complex landscape for Jacobs, with a mix of positive earnings results and strategic challenges.

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