DALLAS - Jacobs (NYSE:J), a global professional services firm, has been chosen as one of 15 lead consultants by Los Angeles World Airports (LAWA) to deliver professional services for the airport authority's Capital Improvement Program. The firm will contribute to the modernization of Los Angeles International Airport (LAX) and Van Nuys Airport (VNY) through a Multiple Award Task Order Contract (MATOC).
The MATOC represents the largest award of its kind in Los Angeles' history, with a focus on inclusivity and setting new participation standards for local, diverse, veteran, and small businesses. Jacobs will work alongside more than 30 small diverse business partners, potentially fostering growth for small and disadvantaged businesses.
Jacobs has been involved with LAWA's Capital Improvement Program since 2016, offering a range of services including asset management, business and financial advisory, project and construction management, telecommunications, and environmental services. The firm's Senior Vice President, Katus Watson, emphasized the company's commitment to enhancing the city's infrastructure in preparation for significant upcoming sporting events.
The selection of Jacobs aligns with the company's broader mission to tackle critical challenges across various sectors, aiming to create sustainable and innovative solutions for a connected future. With an annual revenue of approximately $16 billion and a workforce of over 60,000, Jacobs offers consulting and project delivery services across government and private sectors.
The information provided is based on a press release statement.
InvestingPro Insights
Jacobs (NYSE:J), with its strategic role in the modernization of Los Angeles International Airport (LAX) and Van Nuys Airport (VNY), has a solid financial foundation that investors might find reassuring. According to the latest data from InvestingPro, the company has a market capitalization of approximately 17.22 billion USD, underscoring its significant presence in the Professional Services industry—a sector where Jacobs is a prominent player as noted in one of the InvestingPro Tips.
Investors may also be encouraged by Jacobs' commitment to returning value to shareholders, as evidenced by its track record of raising its dividend for 5 consecutive years. This is complemented by a notable dividend growth of 11.54% over the last twelve months as of Q2 2024, and a current dividend yield of 0.84%. Moreover, the company's stock is characterized by low price volatility, which might appeal to investors seeking stability in their portfolio.
While the firm's revenue growth has been moderate, with an 8.46% increase over the last twelve months as of Q2 2024, it has managed to maintain a healthy gross profit margin of 21.0% in the same period. This financial data, coupled with the InvestingPro Tip that analysts predict the company will be profitable this year, suggests that Jacobs is positioned to continue its trajectory of financial success.
For readers looking to dive deeper into Jacobs' financial metrics and gain access to additional insights, InvestingPro offers more detailed analyses and tips. There are currently several more InvestingPro Tips available for Jacobs, which can be found at https://www.investing.com/pro/J. For those interested in subscribing, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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