Jacobs Engineering Group Inc., is an international engineering, architecture, and construction firm with offices located around the world. As a publicly traded company with 66,000 employees and 2014 revenues of more than $12 billion, Jacobs offers support to industrial, commercial, and government clients across multiple markets. In 2014, Jacobs was named by Forbes as one of America's 100 Most Trustworthy Companies. Annual revenues have made Jacobs Engineering a Fortune 500 Company. Wikipedia.
News Article | May 9, 2017
DALLAS--(BUSINESS WIRE)--Jacobs Engineering Group Inc. (NYSE:JEC) today announced its financial results for the second quarter of fiscal 2017 ended March 31, 2017. Jacobs reported U.S. GAAP net earnings of $50 million, or $0.41 per share, on revenue of $2.3 billion for the second quarter ended March 31, 2017. This compares to U.S. GAAP net earnings of $65 million, or $0.54 per share, on revenues of $2.8 billion for the second quarter ended April 1, 2016. Jacobs’ second quarter 2017 results include approximately $45 million, or $0.37 per share, in after-tax costs associated with the 2015 Restructuring as well as other charges associated with our strategic review of our Europe, U.K. and Middle East regional operations (collectively referred to as “Restructuring and other charges”). Our second quarter 2016 results included approximately $26 million, or $0.21 per share, in charges related to the 2015 Restructuring. The increase in restructuring costs year over year drove a decline in the Company’s U.S. GAAP net earnings of 23% versus the year ago quarter. Excluding the 2015 Restructuring and other charges above, Jacobs’ second quarter 2017 adjusted net earnings totaled $95 million, or $0.78 per share, up 4% as compared to $91 million, or $0.75 per share, from the corresponding period for 2016. Our U.S. GAAP and adjusted results for the second fiscal quarter of 2017 include a net benefit of $0.05 per share associated with one-time benefit plan changes in India partly offset by certain legal settlements. Additionally, the Company’s fiscal 2016 second quarter adjusted net earnings reflected a net benefit of $0.03 per share related to several items, including the release of a foreign tax reserve and a one-time benefit in non-controlling interests pertaining to certain work performed by one of our partially owned subsidiaries; partially off-set by the impact of a customer bankruptcy and a litigation settlement. Total backlog was $18.5 billion at March 31, 2017, including a professional services component of $12.4 billion, as compared to total backlog of $18.2 billion and a professional services component of $11.4 billion for the corresponding period last year. On a sequential basis, gross margin associated with our Q2 backlog continued to improve from our Q1 FY17 levels. Commenting on the results for the second quarter 2017, Steve Demetriou, Jacobs Chairman and CEO said, "We are excited about the benefits from the significant steps we have taken over the past two years to improve our operating performance and capabilities, resulting in our first year over year adjusted operating profit improvement in almost 3 years. While commodity oriented markets continue to be impacted by weak prices, our results give us further confidence in our ability to deliver on a more profitable growth track, as evidenced by the growth in our backlog, improved gross margins and lower SG&A costs.” The Company’s cash flow from operations was $96 million in the second quarter. Additionally, during the quarter, we repurchased 0.9 million shares of common stock at a total cost of $51 million and paid dividends of $18 million. Kevin Berryman, Jacobs CFO, added, "We are beginning to show improved profit momentum, as evidenced by a 4% improvement in adjusted earnings per share versus the year ago quarter. We have augmented this positive momentum with a more balanced capital return strategy, as evidenced by the authorization and payment of our inaugural dividend of $0.15 per share. Given our Q2 and year to date results, our expectations remain unchanged for the year, with a range of total adjusted EPS for the year at $3.00 to $3.30 per share.” Jacobs will host a conference call today at 10:00 A.M. CT, which will be streamed live on www.jacobs.com. Jacobs is one of the world's largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally. The Company employs over 54,000 people and operates in more than 25 countries around the world. For more information, visit www.jacobs.com. Statements made in this press release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. For a description of some of the factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the period ended September 30, 2016, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, as well as the Company’s other filings with the Securities and Exchange Commission. We also caution the readers of this release that we do not undertake to update any forward-looking statements made in this release. Results of Operations (in thousands, except per-share data): In this press release, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. The non-GAAP financial measures included in this press release are adjusted net earnings, adjusted EPS, adjusted operating profit, adjusted revenue, adjusted direct cost of contracts, adjusted selling, general, and administrative (“G&A”) expenses, and adjusted total other income and expense. Adjusted net earnings and adjusted EPS are non-GAAP financial measures that are calculated by excluding the after-tax costs related to the 2015 Restructuring activities as well as other charges associated with our Europe, U.K. and Middle East region (collectively referred to as “Restructuring and other charges”), which are not considered by management to be part of the Company’s ordinary operations. Adjusted revenue, adjusted direct cost of contracts, adjusted operating profit, adjusted G&A expense and adjusted total other income and expense are calculated by excluding the pre-tax costs related to the Restructuring and other charges. We believe that the adjusted net earnings, adjusted EPS, adjusted operating profit, adjusted revenue, adjusted direct cost of contracts, adjusted G&A expense and adjusted total other income and expense measurements are useful to management, investors and other users of our financial information in evaluating the Company’s operating results and understanding the Company’s operating trends by excluding the effects of the Restructuring and other charges, which can obscure underlying trends. Additionally, management uses adjusted net earnings, adjusted EPS, adjusted operating profit, adjusted revenue, adjusted direct cost of contracts, adjusted G&A expenses and adjusted total other income and expense in its own evaluation of the Company’s performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period. The Company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the Company’s financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the Company to those used by our peer companies. The following tables reconcile the U.S. GAAP values of net earnings, EPS, revenue, direct cost of contracts, G&A expenses, operating profit and total other income and expense, to the corresponding "adjusted" amounts. For the comparable periods presented below, such adjustments consist of amounts incurred in connection with the Restructuring and other charges. Amounts are shown in thousands, except for per-share data: U.S. GAAP Reconciliation for the second quarter of fiscal 2017 and 2016:
News Article | May 10, 2017
NEW YORK, May 10, 2017 /PRNewswire/ -- About Data Center Construction A data center is a centralized storehouse, physical or virtual, for remote storage, and processing of data and information. Data centers constitute the backbone of essential business operations. There is a significant amount of growth in enterprise applications worldwide because of the use of advanced technologies to gain a competitive advantage. Enterprises are focusing on the construction of green data centers to reduce power consumption and their impact on the environment. The construction of a data center includes design, architecture, installation of electrical and mechanical systems, as well as general construction services. Data center certifications have grown in importance, especially for colocation and managed hosting service providers, to attract customers. Read the full report: http://www.reportlinker.com/p04886851/Data-Center-Construction-Market-in-the-US.html Technavio's analysts forecast the data center construction market in the US to grow at a CAGR of 6.34% during the period 2017-2021. Covered in this report The report covers the present scenario and the growth prospects of the data center construction market in the US for 2017-2021. To calculate the market size, the report considers the revenue generated from the investments made in new data centers and the renovation of existing ones. Technavio's report, Data Center Construction Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Key vendors • Corgan Associates • DPR Construction • Fluor • Gensler • HDR • Holder Construction Group • Jacobs Engineering Group • Syska Hennessy Group • Turner Construction • Page Southerland Page • Vanderweil Engineers Other prominent vendors • AECOM • AKF Group • Balfour Beatty • Carlson Design Construct • Clune Construction Company • Fortis Construction • Gilbane • Hensel Phelps Construction • HITT Contracting • Integrated Design Group • JE Dunn Construction • McGough • Merrick & Company • Mortenson Construction • Pepper Construction • Skanska • Structure Tone • Whiting-Turner • Wendel Market driver • Tax incentives for data centers and reduction in electricity cost. • For a full, detailed list, view our report Market challenge • Rise in construction and installation costs. • For a full, detailed list, view our report Market trend • Increase in the purchase of renewable energy sources. • For a full, detailed list, view our report Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors? You can request one free hour of our analyst's time when you purchase this market report. Details are provided within the report. Methodology Read the full report: http://www.reportlinker.com/p04886851/Data-Center-Construction-Market-in-the-US.html About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. http://www.reportlinker.com __________________________ Contact Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001 To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/data-center-construction-market-in-the-us-2017-2021-300455572.html
News Article | May 13, 2017
Tigard, OR, May 13, 2017 --( Agilyx is completing its styrene oil production plant in Tigard, OR and is focused on the rapid deployment of additional facilities in both domestic and international markets. The combined resources of Agilyx and IAG underpin the achievement of growth goals leading to the establishment of Agilyx as the sole producer of low-carbon styrene monomer. “We are very excited to welcome IAG into our development team. IAG brings a depth of expertise that will greatly advance the number of projects we have under development,” commented Joseph Vaillancourt, Chairman and CEO. Scott Arnoldy, Triten’s COO, stated, “IAG is excited to work with an innovative leader like Agilyx. This partnership creates a world-class platform to drive the rapid expansion of Agilyx.” About IAG IAG is a capital program management company engaged in partnership relationships designed to optimize business gains via deployed capital. IAG aligns with owners to craft custom project execution strategies that enable sustainable competitive advantage. IAG principally executes facilities for downstream, chemicals, midstream, and terminaling industries. Founded in 1994, IAG is a subsidiary of Triten Corporation and is headquartered in Houston, TX. About Agilyx Agilyx is an environmental technology and development company located in Tigard, Oregon that extracts value from difficult-to-recycle mixed waste plastic streams. The Company has developed the first full circle system capable of recycling polystyrene (packaging materials and consumer products etc.) into styrene monomer, which is then used to remake polystyrene (“PS”) products. The company also has a hydrocarbon recycling technology that converts mixed plastics to high quality crude oil. Agilyx is working with waste service providers, municipalities, refiners, and private and public enterprises to develop closed-loop industrial solutions for mixed waste plastics. To learn more please contact email@example.com. Tigard, OR, May 13, 2017 --( PR.com )-- Agilyx Corporation announced today it is partnering with International Alliance Group (IAG), a subsidiary of Triten Corporation, to leverage its project development, execution, and construction management expertise in pursuit of Agilyx’s development plans. Agilyx is focused on scaling its polystyrene recycling technology platform domestically and internationally. This agreement complements the existing relationship Agilyx forged with Jacobs Engineering Group (“Jacobs”).Agilyx is completing its styrene oil production plant in Tigard, OR and is focused on the rapid deployment of additional facilities in both domestic and international markets. The combined resources of Agilyx and IAG underpin the achievement of growth goals leading to the establishment of Agilyx as the sole producer of low-carbon styrene monomer.“We are very excited to welcome IAG into our development team. IAG brings a depth of expertise that will greatly advance the number of projects we have under development,” commented Joseph Vaillancourt, Chairman and CEO.Scott Arnoldy, Triten’s COO, stated, “IAG is excited to work with an innovative leader like Agilyx. This partnership creates a world-class platform to drive the rapid expansion of Agilyx.”About IAGIAG is a capital program management company engaged in partnership relationships designed to optimize business gains via deployed capital. IAG aligns with owners to craft custom project execution strategies that enable sustainable competitive advantage. IAG principally executes facilities for downstream, chemicals, midstream, and terminaling industries. Founded in 1994, IAG is a subsidiary of Triten Corporation and is headquartered in Houston, TX.About AgilyxAgilyx is an environmental technology and development company located in Tigard, Oregon that extracts value from difficult-to-recycle mixed waste plastic streams. The Company has developed the first full circle system capable of recycling polystyrene (packaging materials and consumer products etc.) into styrene monomer, which is then used to remake polystyrene (“PS”) products. The company also has a hydrocarbon recycling technology that converts mixed plastics to high quality crude oil. Agilyx is working with waste service providers, municipalities, refiners, and private and public enterprises to develop closed-loop industrial solutions for mixed waste plastics. To learn more please contact firstname.lastname@example.org. Click here to view the list of recent Press Releases from Agilyx
News Article | May 15, 2017
— Increasing industrial automation, cost efficient solutions, and growing innovative technological developments such as Mobile Devices, Cloud, and Big Data are the factors bolstering the market growth. In addition, growing adoption of cloud computation is fueling the market growth. However, high initial costs, dissimilar technology skills and IoT standards are the restraints impeding the market growth. Among the solution segments, remote monitoring system segment is expected to dominate the market during the forecast period due to developments in technologies. Manufacturing end user segment is witnessing a significant growth driven by increasing investments in analytics to improve operating efficiency. North America accounted for the largest share in global connected enterprise market followed by Europe. Asia Pacific is expected to witness fastest growth on account of rising industrial automation and growing technological investments. Some of the key players in global Connected Enterprise market include Accelerite, Cisco Systems, Inc., General Electric, Geographic Revenue Mix, HARMAN International, Honeywell International, Inc., International Business Machines Corporation, Jacobs Engineering Group, Inc., MachineShop Inc., Microsoft Corporation, Parametric Technology Corporation, Inc. (Thingworx), PTC Inc., Robert Bosch GmbH, Rockwell Automation Inc., Rockwell Automation, Inc., and Verizon Communications, Inc. End Users Covered: • Media and Entertainment • Banking, Financial Services, and Insurance • Telecommunications and IT • Manufacturing • Retail and Ecommerce • Energy and Utilities • Healthcare and Life Sciences • Government • Food & beverage • Other End Users Regions Covered: • North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o Rest of Asia Pacific • Rest of the World o Middle East o Brazil o Argentina o South Africa o Egypt What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 6 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements About Stratistics MRC We offer wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services and Full Time Equivalent (FTE) services in the research world. We explore the market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends. Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects. For more information, please visit http://www.strategymrc.com/
Agency: GTR | Branch: EPSRC | Program: | Phase: Research Grant | Award Amount: 1.94M | Year: 2013
The increasing amounts of renewable energy present on the national grid reduce C02 emissions caused by electrical power but they fit into an electrical grid designed for fossil fuels. Fossil fuels can be turned on and off at will and so are very good at matching variations in load. Renewable energy in the form of wind turbines is more variable (although that variability is much more predictable than most people think) and there is a need for existing power plants to operate much more flexibly to accommodate the changing power output from wind, tidal and solar power. This work brings together five leading Universities in the UK and a number of industrial partners to make conventional power plants more flexible. The research covers a wide range of activities from detailed analysis of power station parts to determine how they will respond to large changes in load all the way up to modelling of the UK electrical network on a national level which informs us as to the load changes which conventional power plants will need to supply. The research work is divided up into a number of workpackages for which each University is responsible together they contribute to four major themes in the proposal: Maintaining Plant Efficiency, Improving Plant Flexibility, Increasing Fuel Flexibility and Delivering Sustainability. Cambridge University will be conducting research into wet steam methods. Water is used as the working fluid in power plant as it has excellent heat transfer properties. However in the cold end of power extraction turbine the steam starts to condense into water and droplets form this is especially a problem at part load. The work at Cambridge will allow this process to be predicted better and lead to better designs. Durham University will contribute two different work packages: modelling work of the entire UK power system and the introduction of the worlds first dynamically controlled clearance seal. The modelling work will enable the requirements for plant flexibility to be determined accurately. The dynamic seal developed in conjunction with a major UK manufacturer will allow the turbine to maintain performance as the load varies. Oxford University - Improved Heat Transfer Methods for Turbine Design. The output from this work will be a highly accurate coupled fluid flow and heat transfer calculations that will enable designers to better predict the thermal transients inside power stations. Leeds and Edinburgh University will lead work on increasing the use of biomass fuels. The modelling work at Leeds will allow plant operators to devise suitable measures to minimise the environmental impact of burning biomass. Leeds and Edinburgh University will contribute the development of a Virtual Power Plant Simulation Tool This work acts as a bridge between the different project partners as inputs from the models produced at Durham, Cambridge, Oxford and Leeds are combined. This tool based on the latest research findings can be used to optimize transient operations such as fast start-up and load following as wind turbine output varies.
Agency: European Commission | Branch: FP7 | Program: BSG-SME-AG | Phase: SME-2011-2 | Award Amount: 2.59M | Year: 2012
Current wind turbine condition monitoring methodologies can be time-consuming and a costly process and fail to achieve the reliability and operational efficiency required by the industry. For these reasons existing vibration-based Condition Monitoring System (CMS) usually fail to detect defects until they become critical. This project will show the applicability of the CMS enabling the prompt detection of defects. The proposal idea is to use this experience to deploy an existing system that: o Allows an early detection and identification of any developing defects on several components of the wind turbine such as blade cracking, slip-ring corrosion and shaft/bearing misalignment, thus helping to optimise the maintenance schedule. o Combine the use of several sensors in order to evaluate the overall operational condition of the turbines generator, gearbox bearings, main shaft and blades. o Use wireless sensor for rotating components monitoring using high performance powering and energy harvesting technologies. o Fuse and analyse the data obtained through the different sensors using a single SCADA system. Broadband radio transmission systems were developed to transmit the data from fixed or rotating frames to the ground without losing any signal resolution. The results indicate the feasibility of collecting AE signals from the rotating frame with acceptable level of noise in low to moderate wind speeds. Also other developments were executed in order to verify whether or not the noise level increases appreciably with wind speed and whether such signals can be filtered out. Application of CMSWind system: The Gearbox (including Main bearing, Yaw System, The hub) The Generator The Bolting One of the aims of this project is to develop new standards and procedures for applying offshore instrumentation and therefore providing generic developments and information of use to the whole Wind Energy and NDT industry.
Agency: European Commission | Branch: FP7 | Program: CP | Phase: ENERGY.2012.2.3.2 | Award Amount: 5.65M | Year: 2013
The power output from wind turbines has increased dramatically over the past thirty years from 50 kW to 6 MW, while 8-12 MW turbines are in the stage of design. State-of-the-art condition monitoring systems, such as vibration-based systems and temperature sensors, are able to monitor and evaluate the current condition of components of interest. Nonetheless, varying wind loads can result in the generation of false alarms or even misinterpretation of the data collected. In addition, commercially available condition monitoring systems offer no or very limited prognostics capability with regards to the remaining lifetime of a component before a serious fault occurs. Therefore evolution to predictive maintenance strategies is currently impossible. Experience has shown that by combining disparate data sources wind farm operators will be able to move from common reactive maintenance approach to a more cost effective risk-based operation and maintenance strategy with a high level of predictive maintenance scheduling. OPTIMUS will develop and demonstrate in the field novel methods and tools for prognosis of the remaining lifetime of key components based on data acquired by a cost-effective wind turbine condition monitoring system implemented by custom-designed dependable computing systems. This technology will reduce the total cost of energy and advance the deployment of large scale offshore and onshore wind energy by increasing availability and reducing downtime due to unplanned maintenance. Predictive maintenance will also reduce costs incurred from secondary damage to components and enable maintenance activities (and the associated costs) to be optimized with respect to forecast revenue from power generation. The results of this project will lead to a significant step-change over the current capability of commercial condition monitoring systems.