Jacobs selected to design Seattle’s West Seattle Link Extension

DALLAS - Engineering firm Jacobs (NYSE:J), currently trading at $137.73 and maintaining a GOOD financial health score according to InvestingPro analysis, has been selected to provide design services for Sound Transit’s West Seattle Link Extension, according to a press release statement issued Thursday.

The project will add 4.1 miles of light rail, a new bridge, tunnel and four new stations connecting Seattle’s SODO neighborhood with West Seattle’s Alaska Junction neighborhood. Jacobs will lead Phase 1 design and design validation for the extension. The company, which has shown strong returns over the past three months, appears positioned to maintain its growth trajectory with this new contract.

The West Seattle Link Extension, expected to begin service in 2032, aims to reduce travel times on key lines by up to 50 percent and provide commuters with an alternative to the West Seattle Bridge during peak demand periods.

"Transportation infrastructure enhances mobility and provides vital economic growth and community opportunities," said Jacobs Executive Vice President Ron Williams in the statement.

The extension is expected to serve as a catalyst for new development near stations, including retail opportunities and affordable housing initiatives.

Jacobs, which reports $11.7 billion in revenue over the last twelve months and employs almost 45,000 people, has been delivering transportation solutions in the Puget Sound region for 70 years, including approximately 30 miles of light rail system expansions for Sound Transit. With a market capitalization of $16.5 billion and analyst consensus suggesting further upside potential, detailed financial analysis is available through InvestingPro’s comprehensive research reports, which provide deeper insights into the company’s valuation and growth prospects.

The company will be responsible for creating streetscapes and public spaces as part of the project, which aims to improve access to jobs, education and services in the Seattle area.

In other recent news, Jacobs Solutions Inc. has announced a significant pro rata distribution of 7,299,065 shares of Amentum Holdings Inc. to its shareholders. This move, detailed in a recent SEC filing, signifies that Jacobs Solutions no longer retains any shares of Amentum stock, effectively separating the two entities. Additionally, Jacobs Technology Inc., a subsidiary of Jacobs, secured a $4 billion contract from the U.S. Department of Defense to provide services for the Space Force range, with operations expected to extend until March 31, 2035.

In another development, Jacobs has been chosen by the Bonneville Power Administration to modernize the Grand Coulee Dam as part of efforts to enhance the U.S. power grid. This initiative aims to improve reliability and efficiency in power distribution across several states and parts of Canada. Furthermore, Jacobs has been awarded a contract by Boeing for the expansion of its St. Louis campus, nearly doubling the manufacturing capacity in the region. The expansion project will be completed in phases, with expected completion dates between 2026 and 2030.

These recent developments reflect Jacobs’ ongoing strategic initiatives in infrastructure, defense, and energy sectors.

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