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Released August 07, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering, procurement and construction company (EPC) Jacobs Engineering Group Incorporated (NYSE:JEC) (Dallas, Texas) reported strong net earnings of $150 million for the quarter ended June 29, 2018--the company's third fiscal quarter. This compares with earnings of $89 million in the year-prior quarter. With the integration of engineering company CH2M Hill, which was completed late last year, the company's fiscal third-quarter backlog grew from $18.6 billion in 2017 to $27.2 billion in 2018. Industrial Info is tracking more than $77 billion in projects involving Jacobs.
Among Jacobs' largest sources of revenue growth was its Buildings, Infrastructure and Advanced Facilities segment, which increased fiscal third-quarter operating income from $73 million in 2017 to $145.9 million in 2018. In addition, operating income from the company's Aerospace, Technology, Environmental and Nuclear segment increased from $49.4 million to $89.3 million, and its Energy, Chemicals and Resources segment increased from $45.8 million to $72 million.
Among the largest projects being tracked by Industrial Info involving Jacobs is Royal Dutch Shell plc's (NYSE:RDS-A) (The Hague, Netherlands) Vito grassroot crude oil and natural gas production platform, located about 150 miles southeast of New Orleans in the Gulf of Mexico. The platform is expected to produce 100,000 barrels of oil equivalent per day at full production. Jacobs is performing design engineering on the project, which has an estimated total investment value (TIV) of $4 billion. Construction is expected to begin next quarter and be completed in the summer of 2021. The Vito field potentially contains 300 million barrels of oil equivalent and will include eight subsea wells. For more information, see Industrial Info's project report.
Jacobs also is performing architectural and engineering services for a $2.5 billion liquid crystal display (LCD) screen manufacturing complex in Mount Pleasant, Wisconsin. Construction on Foxconn Technology Group's (Taipei, Taiwan) project began in the first half of this year and is expected to be completed in early 2021. The complex will include five buildings: a 1.6 million-square-foot assembly/operations building, a 1.5 million-square-foot array building and three supporting buildings. For more information, see Industrial Info's project report.
Some of Jacobs' largest projects are in the Chemical Processing Industry. Among these is Exxon Mobil Corporation's (NYSE:XOM) (Irving, Texas) polyethylene unit addition to its complex in Beaumont, Texas. The facility is being constructed next to an existing polyethylene plant and will produce 1.433 billion pounds per year of low-density polyethylene. Jacobs is performing EPC on the project, which kicked off in late 2016 and is expected to be completed early next year. For more information, see Industrial Info's project report.
In Luling, Texas, Jacobs is providing EPC work on Bayer AG's (Leverkusen, Germany) herbicides plant expansion, which it inherited when it acquired Monsanto Company. The facilities will support an increase in the production of dicamba used in the production of Roundup herbicides. Construction began at the start of 2017 and is expected to be completed in summer 2019. For more information, see Industrial Info's project report.
Jacobs also has a hand in several projects at transit facilities across the U.S. Among these is the expansion of concourses B and C at the Denver International Airport in Colorado. The project entails adding 16 gates and making improvements to the apron pavement to alleviate aircraft and passenger traffic bottlenecks at Concourse C and adding seven gates at Concourse B. Construction is expected to begin later this year, with Turner Construction Company (Greenwood Village, Colorado) and Flatiron Construction Corporation (Broomfield, Colorado) acting as general contractors. The facilities are expected to be in service by the end of 2021. The projects have a combined TIV of more than $733 million. For more information, see Industrial Info's project reports on Concourse B and Concourse C.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Among Jacobs' largest sources of revenue growth was its Buildings, Infrastructure and Advanced Facilities segment, which increased fiscal third-quarter operating income from $73 million in 2017 to $145.9 million in 2018. In addition, operating income from the company's Aerospace, Technology, Environmental and Nuclear segment increased from $49.4 million to $89.3 million, and its Energy, Chemicals and Resources segment increased from $45.8 million to $72 million.
Among the largest projects being tracked by Industrial Info involving Jacobs is Royal Dutch Shell plc's (NYSE:RDS-A) (The Hague, Netherlands) Vito grassroot crude oil and natural gas production platform, located about 150 miles southeast of New Orleans in the Gulf of Mexico. The platform is expected to produce 100,000 barrels of oil equivalent per day at full production. Jacobs is performing design engineering on the project, which has an estimated total investment value (TIV) of $4 billion. Construction is expected to begin next quarter and be completed in the summer of 2021. The Vito field potentially contains 300 million barrels of oil equivalent and will include eight subsea wells. For more information, see Industrial Info's project report.
Jacobs also is performing architectural and engineering services for a $2.5 billion liquid crystal display (LCD) screen manufacturing complex in Mount Pleasant, Wisconsin. Construction on Foxconn Technology Group's (Taipei, Taiwan) project began in the first half of this year and is expected to be completed in early 2021. The complex will include five buildings: a 1.6 million-square-foot assembly/operations building, a 1.5 million-square-foot array building and three supporting buildings. For more information, see Industrial Info's project report.
Some of Jacobs' largest projects are in the Chemical Processing Industry. Among these is Exxon Mobil Corporation's (NYSE:XOM) (Irving, Texas) polyethylene unit addition to its complex in Beaumont, Texas. The facility is being constructed next to an existing polyethylene plant and will produce 1.433 billion pounds per year of low-density polyethylene. Jacobs is performing EPC on the project, which kicked off in late 2016 and is expected to be completed early next year. For more information, see Industrial Info's project report.
In Luling, Texas, Jacobs is providing EPC work on Bayer AG's (Leverkusen, Germany) herbicides plant expansion, which it inherited when it acquired Monsanto Company. The facilities will support an increase in the production of dicamba used in the production of Roundup herbicides. Construction began at the start of 2017 and is expected to be completed in summer 2019. For more information, see Industrial Info's project report.
Jacobs also has a hand in several projects at transit facilities across the U.S. Among these is the expansion of concourses B and C at the Denver International Airport in Colorado. The project entails adding 16 gates and making improvements to the apron pavement to alleviate aircraft and passenger traffic bottlenecks at Concourse C and adding seven gates at Concourse B. Construction is expected to begin later this year, with Turner Construction Company (Greenwood Village, Colorado) and Flatiron Construction Corporation (Broomfield, Colorado) acting as general contractors. The facilities are expected to be in service by the end of 2021. The projects have a combined TIV of more than $733 million. For more information, see Industrial Info's project reports on Concourse B and Concourse C.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
