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DALLAS - Engineering firm Jacobs (NYSE: J), a $16.2 billion market cap company with annual revenues of $11.6 billion, has been contracted by the City of Boynton Beach, South Florida, to revamp two local water treatment plants. The initiative aims to eliminate per- and polyfluoroalkyl substances (PFAS) from the city’s groundwater, aligning with new federal drinking water standards. According to InvestingPro data, Jacobs maintains a moderate debt level and strong operational efficiency, positioning it well for such large-scale projects.
The affected facilities, which currently process a total of 30 million gallons of water daily, serve over 112,000 residents. The project not only targets PFAS compliance but also seeks to modernize outdated infrastructure and support the increasing water demands of the community. With a healthy current ratio of 1.25 and strong financial health scores from InvestingPro, Jacobs demonstrates the financial stability needed for such critical infrastructure projects.
Jacobs, boasting a 40-year history of aiding Boynton Beach with water system improvements, will now undertake a thorough evaluation of the existing plants to determine their capacity for PFAS removal. The company’s Senior Vice President, Katus Watson, emphasized the importance of a long-term solution for PFAS treatment and disposal, considering impending federal deadlines.
Following the assessment, Jacobs will draft a detailed plan for the treatment plants, encompassing the source water supply and residuals management systems. Construction management services will also be provided by Jacobs once the design phase is concluded. Funding for the planning and design stages has been secured through a loan from Florida’s Drinking Water State Revolving Fund Program.
City of Boynton Beach Utilities Director Poonam Kalkat expressed anticipation for the collaboration with Jacobs on this significant project, which is expected to shape the city’s water supply system for future generations.
Jacobs, recognized globally for its expertise in PFAS research and treatment, has previously delivered solutions for various clients, including municipal and defense sectors in the United States and Australia.
The firm, with annual revenues nearing $12 billion and nearly 45,000 employees, offers comprehensive services across multiple sectors, including water. Jacobs’ commitment to addressing complex global challenges is reflected in its mission to create a more sustainable world. The company has demonstrated strong financial performance, with a 17.85% revenue growth in the last twelve months and a consistent dividend growth track record for six consecutive years. For deeper insights into Jacobs’ financial health and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive financial metrics and expert research reports.
This news is based on a press release statement.
In other recent news, Jacobs Solutions Inc. has reported first-quarter fiscal 2025 results, surpassing analyst expectations for earnings per share but slightly missing the mark on revenue. The company has also raised its full-year earnings guidance. Jacobs posted adjusted earnings per share of $1.33 and revenue of $2.9 billion, a 4.4% increase year-over-year. However, the company reported a GAAP net loss of $17.1 million, primarily due to mark-to-market losses on its investment in AMTM.
Despite this, Jacobs’ backlog grew 18.9% year-over-year to $21.8 billion. According to Jacobs’ Chair and CEO, Bob Pragada, the company’s focus on the transformed portfolio is having a positive impact on results, with notable revenue growth within Infrastructure & Advanced Facilities.
Among these recent developments, Jacobs raised its fiscal 2025 adjusted EPS guidance range to $5.85-$6.20 and announced a 10% increase in its quarterly dividend to $0.32 per share. The company has also authorized a new $1.5 billion share repurchase program, its largest to date.
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