JFB Construction secures $18.8 million school contract in Florida

LANTANA, Fla. - JFB Construction Holdings (NASDAQ:JFB), a construction firm with a market capitalization of $148 million trading near its 52-week high of $16.57, announced Wednesday it has secured an $18.8 million contract to serve as general contractor for the first phase of a public high school construction project in DeSoto County, Florida. According to InvestingPro analysis, the stock has delivered an impressive 345% return year-to-date.

The contract represents the initial phase of a three-phase project with a total value of $100 million. The construction will expand an existing high school campus by approximately 100,000 square feet across 40 acres to accommodate an additional 1,379 students.

Construction of the first phase is scheduled to begin in mid-October 2025 with completion expected by January 2026. The second phase, valued at over $30 million, is planned to commence in June 2026.

JFB will be working with Building Tomorrow’s Schools, a school developer that has coordinated the construction of over 40 schools in Florida.

"This project is one of the most important contract wins for our company and the educational contracting segment of JFB," said Joseph F. Basile III, CEO of JFB Construction Holdings, in a press release statement.

The company cited its strong balance sheet with over $34 million in working capital as a key factor in securing the contract, noting that this financial position enhances its bonding capacity for larger construction projects. InvestingPro data confirms this financial strength, showing the company holds more cash than debt and maintains a robust current ratio of 4.96, indicating strong liquidity. For deeper insights into JFB’s financial health and 12 additional ProTips, consider exploring InvestingPro’s comprehensive analysis.

JFB Construction Holdings, which provides general contracting and construction management services across 36 U.S. states, expects the project to impact its revenue in the fourth quarter of 2025. The company currently generates annual revenue of $24.63 million, and based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its fundamental value.

In other recent news, JFB Construction Holdings has announced a private investment in public equity (PIPE) financing, securing approximately $43.9 million in gross proceeds from American Ventures LLC, Series XIV JFB. The company plans to allocate $12 million of the net proceeds to retire Class B Common Stock owned by CEO Joseph F. Basile III, with the remaining funds directed towards general corporate operating expenses. Additionally, JFB Construction Holdings has appointed Bill Dyer as its new chief operating officer, effective September 22, 2025. Dyer brings over 30 years of experience in the development and construction industry, having previously held senior roles at Pace Properties, Inc. and Phoenix Realty Advisors, Inc. These developments reflect JFB Construction’s strategic financial and leadership moves as it continues to navigate its business operations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.