Jacobs tapped for Boise Airport expansion amid passenger surge

DALLAS - Engineering firm Jacobs (NYSE: J), currently valued at $15.14 billion by market capitalization, has been selected to support the Boise Airport’s multi-year capital expansion plan, which includes a new concourse and renovations aimed at managing a significant rise in passenger traffic. The Boise Airport, responding to an 81% increase in passenger demand over the past decade, will see the construction of Concourse A and the renovation of Concourse B, along with potential upgrades to other terminal facilities. According to InvestingPro data, Jacobs maintains a strong financial health score, positioning it well for major infrastructure projects like this one.

Jacobs, ranked second in Transportation by Engineering News-Record, will offer professional services as the owner’s representative, overseeing the planning, design, and initial operations phases of the expansion. The company brings a history of managing complex infrastructure projects, aiming to enhance passenger experience and support economic growth in Idaho’s capital.

Senior Vice President of Jacobs, Eva Wood, emphasized the importance of keeping pace with regional growth for economic development. Similarly, Boise Airport Deputy Director of Engineering, Beth Sumner, expressed confidence in Jacobs’ expertise contributing to the BOI Upgrade Program, which intends to scale the airport in line with community expansion.

The design phase for the development of Concourse A and the renovation of Concourse B is set to commence in 2025. This move is part of Boise Airport’s strategy to maintain its critical role in Idaho’s economic development by connecting the state capital with flights to numerous non-stop destinations.

Jacobs, with annual revenue reaching $11.6 billion and a global team nearing 45,000, provides comprehensive services across various sectors, including transportation infrastructure. The company has demonstrated strong financial performance, with a 17.85% revenue growth in the last twelve months and has raised its dividend for six consecutive years. The company’s involvement in major airport projects, such as Denver International Airport, Hartsfield-Jackson Atlanta International Airport, and Manchester Airport in the U.K., reflects its commitment to creating connected and sustainable transportation systems. For detailed insights into Jacobs’ financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 30 key financial metrics and professional tips.

This expansion initiative comes as part of the airport’s response to not only the current demand but also the anticipation of future growth, ensuring that the infrastructure can sustain the increasing number of passengers and flights. With analysts projecting continued profitability and the stock trading with relatively low price volatility, Jacobs appears well-positioned to execute on major infrastructure projects like this one. Discover more detailed analysis and projections with InvestingPro’s exclusive research reports.

The information in this article is based on a press release statement from Jacobs.

In other recent news, Jacobs Solutions Inc. reported first-quarter fiscal 2025 results that exceeded analyst expectations for earnings per share, posting adjusted earnings of $1.33, surpassing the consensus estimate of $1.27. However, revenue slightly missed projections, coming in at $2.9 billion against the expected $2.92 billion, but still showed a 4.4% increase year-over-year. The company also raised its full-year earnings guidance, adjusting its fiscal 2025 EPS range to $5.85-$6.20. In terms of contracts, Jacobs has secured a $13.4 million operational technology cybersecurity deal with the Hampton Roads Sanitation District to enhance the security of its industrial control systems. Additionally, Jacobs has been contracted by the City of Boynton Beach, Florida, to upgrade water treatment plants to remove PFAS, aligning with federal drinking water standards. During its recent Investor Day, Jacobs outlined a growth strategy targeting 6-8% organic adjusted net revenue growth by fiscal year 2029. The company also announced a 10% increase in its quarterly dividend to $0.32 per share and authorized a new $1.5 billion share repurchase program. These developments reflect Jacobs’ ongoing efforts to strengthen its market position and address emerging challenges across various sectors.

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