Jacobs
JEC]

Jacobs to Manage Intelligent Transportation System for Florida's Turnpike

Friday, September 08, 2023

DALLAS, -- Jacobs was selected to operate and maintain Intelligent Transportation Systems (ITS) and manage traffic operations for Florida's Turnpike Enterprise, a division of the Florida Department of Transportation. Jacobs will operate, manage and maintain more than 500 miles of ITS-connected roadway infrastructure across the state.

Under the five-year, $28 million contract, Jacobs will deliver a broad range of engineering, monitoring and support services. With full-time staff in place at turnpike locations, Jacobs will manage traffic operations, perform traffic engineering services, operate and manage ITS infrastructure including maintenance contracts, network and data security.

Jacobs also will manage contingency plans and response for emergencies and weather events and work with Florida's Turnpike Enterprise to consider and evaluate advanced data systems to improve safety and mobility on the transportation network. These systems promote safe and efficient travel and freight transport and apply innovative operating technology to assist motorists.

"Our 30-year relationship with Florida's Turnpike Enterprise combines innovative program management with advanced transportation technology," said Jacobs People and Places Solutions Americas South Senior Vice President and General Manager Katus Watson. "Together we bring the enterprise tools and knowledge to make travel smarter, safer and more connected for Florida's residents and visitors."

Florida's Turnpike Enterprise has demonstrated its commitment to a safer and more connected future for road transportation. As an early adopter of transportation technologies, the Enterprise has developed and built a research facility known as SunTrax, dedicated to the discovery, development and adoption of tools designed to enhance safe and efficient travel. Construction on Florida's Turnpike began in the mid-1950s. The tollway network now handles more than three million motorist trips a day from Orlando to cities along the state's Atlantic coast.

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, geopolitical events and conflicts, and the impact of the COVID-19 pandemic, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see 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 in our most recently filed Annual Report on Form 10-K, and Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

Jacobs Wins New Contract to Support UK's Nuclear Power Plants

Tuesday, November 07, 2023

DALLAS, -- Jacobs (NYSE:J) was awarded a new Project Management Resources (PMR) framework contract with EDF Nuclear Operations, licensee of eight nuclear power stations which account for approximately 16% of the U.K.'s electricity output.

Under an existing PMR framework, Jacobs supports operations at four Advanced Gas-cooled Reactor (AGR) stations; the transition from generation to defueling at another three AGR stations; and the operation and life extension program for the Sizewell B pressurized water reactor. EDF estimates the value of the new two-year contract, which starts on Jan. 1, 2024, at more than $53 million.

"Our commitment to supporting the U.K.'s nuclear power fleet helps communities to access sustainable, emission-free energy generation," said Jacobs Senior Vice President Karen Wiemelt. "We will assist EDF to maximize generation from these vital national assets for the remainder of their operating lives and to support energy security and the target of achieving net-zero carbon by 2050. Simultaneously, we will assist the transition toward defueling and decommissioning at the stations which have ceased generating."

Now in its ninth year, the existing PMR contract supports work for more than 200 project management, project engineering specialists and site team supervisors. The new framework is being contracted single source in recognition of performance over previous years. Jacobs is now recruiting for locations across the U.K. and welcomes those with diverse, non-nuclear experience.

"Our project management and controls capabilities underpin the delivery of our nuclear safety & business risk mitigations and our sustainable role to our net zero commitments within the U.K.," said EDF Torness Power Station Director Paul Forrest. "I am proud of the teamwork across the fleet over the last eight years and look forward to the continued success and learning across all our program and project portfolios."

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and X.

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional 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 year ended October 2, 2020, 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, and our Quarterly Report on Form 10-Q for the quarter ended July 2, 2021, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

Jacobs Secures Water and Wastewater Utilities Renewal Contract in New Mexico

Friday, November 24, 2023

DALLAS, -- Jacobs (NYSE:J) was awarded a five-year contract renewal for operations and maintenance (O&M) of the City of Farmington, New Mexico's, wastewater and surface water treatment plants and wastewater collection and drinking water distribution systems.

The new contract incorporates Aqua DNA, a Digital OneWater solution from Jacobs' suite of products that assists water utilities in their response to climate change, tightening regulations, workforce shortages and operational performance. In addition to supporting resiliency efforts and providing contingency planning for the community of nearly 50,000 people, located on the Colorado Plateau at the junction of three rivers, Jacobs will use Aqua DNA to monitor collection system levels, adjust operations to prevent overflows and improve energy efficiency.

"Sustaining a reliable water supply for Farmington residents is especially challenging given the city's location and we will leverage our deep water experience to continue to bring technology and innovative approaches to this community," said Jacobs Vice President, Operations, Maintenance, Facility Services and Design-Build Greg Fischer. "The key focus will be to sustainably support the community with essential services while protecting the environment and the Animas River watershed by treating wastewater and stormwater thoroughly and efficiently."

The five-year contract commences January 1, 2024, with an initial contract value of $9 million per year. Jacobs has provided O&M services to the City of Farmington since 1999. With a strong emphasis on workforce development, Jacobs coordinates community hiring activities and develops skilled workers from local community colleges. Recent accolades recognizing Jacobs' dedication to technology, sustainability and safety include the Water Environment Federation's Utility of the Future Today award for Beneficial Biosolids Reuse and the Rocky Mountain Water Environment Association's safety award.

Ranked as No.1 in Wastewater Treatment by Engineering News-Record, Jacobs provides solutions that conserve water, while optimizing utility operations through reduced energy consumption and carbon footprint. Jacobs has supported projects like the Thames Tideway Tunnel, the largest water infrastructure project ever undertaken in the U.K., Central Interceptor, New Zealand's largest-ever wastewater project, Singapore's Tuas Water Reclamation Plant and the Pure Water Project in California.

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and X.

Jacobs, Amentum Combine to Create New Gov’t-Focused TSP

Friday, November 24, 2023

Jacobs will combine its Critical Mission Solutions (CMS) and Cyber & Intelligence government services businesses with Amentum, a leading global engineering and technology solutions provider, to create a new, publicly traded government services firm, according to a statement from the companies.

The spin-off company will have approximately $13 billion in annual revenue and will consist of Jacobs' Critical Mission Solutions, the Cyber & Intelligence portions of its Divergent Solutions (DVS) business, and Amentum, according to the statement. Jacobs will keep its next-generation data solutions and digital technologies business, which is part of its DVS segment and core to delivering digitally enabled critical infrastructure solutions to clients, the company said.

After the spin off, Jacobs will focus on critical infrastructure and sustainability solutions for leading positions in the water and environment, energy transition, transportation and advanced manufacturing sectors. Excluding the businesses being separated, Jacobs generated approximately $10.9 billion in revenue in fiscal year 2023, the company said.

Amentum is an American government and commercial services contractor based in Germantown, Maryland. The company was formed in 2020 from the spinout of AECOM's Management Services / federal group.

Governance and Management

Upon completion of the deal, Jacobs Executive Chair Steve Demetriou will become Executive Chair of the combined company. John Heller, current CEO of Amentum, will serve as CEO of the combined company and sit on the combined company's board, and Dr. Steve Arnette, EVP and President of CMS will serve as the COO.

"Over the last eight years, our focus has been to drive a cultural and business transformation to position Jacobs as a technology-enabled solutions provider and one of the world's most innovative companies," said Steve Demetriou. "I look forward to working alongside John, Steve and the board to help bring that same dedicated focus to successfully launch this new public company and deliver significant value-added opportunities for clients, shareholders and employees."

The board of directors of the combined company will initially be composed of an equal number of directors appointed by Jacobs and Amentum. Members of the combined company's senior management team will be drawn from both companies and will be announced at a later date as integration planning progresses.

"By separating CMS and associated Cyber & Intelligence Solutions, Jacobs will streamline our business portfolio and transform into a more focused, higher-margin company more closely aligned with key global mega trends," said Jacobs CEO Bob Pragada. "We believe this transaction is in the best interests of the company and our stakeholders, gaining the benefits of a tax efficient transaction, plus even greater value with significant cash proceeds and future realization of synergies. I am confident the CMS and Cyber & Intelligence Solutions teams are poised for continued success in their new chapter as part of a more focused, independent public company that will be a leading player in the critical mission government services space – with both breadth and depth of capabilities across a more diversified portfolio."

"Uniting our great organizations – Amentum, CMS, and Cyber & Intelligence Solutions – creates a leading provider of systems integration and technology solutions with the talent, scope, scale and footprint to deliver excellence and a wider range of solutions for our clients," commented Amentum CEO John Heller. "Our combined company will deliver extensive expertise in the government's highest priority areas of energy, space exploration, intelligence and analytics, and digital modernization. We look forward to the union of our strong teams and a bright future ahead."

Transaction Details

The transaction is being structured as a Reverse Morris Trust transaction intended to be tax-free to Jacobs' shareholders for U.S. federal tax purposes, according to the statement. Key details of the transaction include:

• Ownership: Jacobs and its shareholders will own 58.5%-63% of the combined company's common shares upon consummation of the transaction, consisting of 51% Jacobs' shareholders ownership and Jacobs retaining 7.5-12%. The exact amount of the retained stake will be determined based on achievement of certain fiscal year 2024 operating profit targets. Funds managed by American Securities and Lindsay Goldberg, the current owners of Amentum, will own no less than 37% of the combined company's common shares upon consummation of the transaction.

• Cash proceeds: Jacobs is expected to receive cash proceeds of $1 billion at close, subject to customary adjustments. Jacobs is committed to maintaining its investment grade credit profile following the separation and expects to use the cash received at close to repay debt. Jacobs also expects to realize additional value after closing through the disposition of its retained equity stake in the combined company within 12 months.

• Closing: Closing of the transaction will be subject to various customary closing conditions including regulatory approvals, receipt of a private letter ruling from the Internal Revenue Service, opinions from tax advisors and the effectiveness of a registration statement with the U.S. Securities and Exchange Commission. Amentum has received all the necessary shareholder approvals to complete the transaction; no vote of Jacobs' shareholders is required for the transaction.

• Timing: The transaction is expected to close in the second half of fiscal year 2024, a time frame consistent with the previously announced spin-off.

Jacobs to Manage Sustainable Transport Program for Ireland's National Transport Authority

Wednesday, January 24, 2024

Supports delivery of improved public transport services to enhance mobility in Cork

Aids climate response and critical infrastructure in major urban center

DALLAS, -- Jacobs (NYSE:J) has been selected by the National Transport Authority (NTA) in Ireland as consultant for the BusConnects Cork Sustainable Transport Corridors program, planned to connect communities and enhance mobility in Cork, Ireland's second largest city.

Jacobs' scope of work includes preparation of the Environmental Impact Assessment Report and the Network and Information Security for each of the schemes' statutory planning advice services; the construction strategy; and the transport assessment which includes extensive modeling for design development. Jacobs will also support the preliminary business case preparation for the overall BusConnects Cork program.

Jacobs has also been appointed as one of the Engineering Design Consultants, providing advisory support, and preparing the preliminary design report and the planning permission application to go to Ireland's independent statutory body, An Bord Pleanála.

The BusConnects Cork program will provide better walking, cycling and bus infrastructure for 11 key access corridors in the Cork region, to transform the public transport network, enabling efficient, safe and sustainable mobility around the city and preparing for future demand. A range of enhancements are planned, including the creation of new bus routes and cycling lanes, improved bus frequencies, new bus stops and shelters and the transition to a zero-emission bus fleet.

"BusConnects Cork is focused on fundamentally transforming Cork's bus and active travel system, so it becomes a viable and attractive choice for commuters and visitors – improving the quality of life for the community, while supporting the economy and the environment," said Jacobs Senior Vice President Kate Kenny. "Jacobs brings multi-disciplinary experience delivering critical transportation infrastructure, supported by digital solutions that convert complex datasets into actionable planning and development decisions for the NTA."

Jacobs Announces CFO Transition

Wednesday, April 03, 2024

Former Jacobs Chief Financial Officer, Kevin Berryman, Appointed Interim Chief Financial Officer

DALLAS, -- Jacobs Solutions Inc. (NYSE: J) today announced that Kevin Berryman, previously President and Chief Financial Officer and currently Special Advisor to Jacobs' Chief Executive Officer Bob Pragada, has been appointed interim Chief Financial Officer effective March 29, 2024. Berryman succeeds Claudia Jaramillo who is departing the Company to pursue other opportunities. Jacobs has initiated a search for a permanent CFO with the assistance of an executive search firm.

Pragada said, "Kevin has been an outstanding contributor and a valuable member of Jacobs' executive leadership team having served as our CFO for over nine years, during a period of significant transformation and growth. Over the past several months he has been providing strategic and collaborative leadership in overseeing the separation of our Critical Mission Solutions and Cyber & Intelligence businesses. As we build on the strong momentum across the Company and execute our strategy to create a more streamlined, higher growth, higher margin portfolio, I am pleased to tap into Kevin's continued support and experience as interim CFO."

"Serving as CFO of Jacobs was one of the most rewarding roles of my career. I look forward to working closely alongside Bob and the Jacobs team once again as interim CFO," said Berryman. "Actions being taken to optimize the Company's cost structure and accelerate profitable growth and margin expansion are delivering positive results, as the most recently reported quarter shows. I am committed to ensuring we continue to deliver on our financial and operating objectives during the transition period to a new CFO."

Pragada continued, "On behalf of Jacobs, we appreciate Claudia's work over the last two years, and we wish her well in her future endeavors."

The Company also reaffirmed its previously announced expectations for adjusted EBITDA and adjusted EPS for fiscal year 2024. As previously disclosed, these estimates exclude Restructuring, Transaction and Other Charges (as defined in Jacobs' earnings announcement for the first fiscal quarter, this includes costs associated with the announced separation of the CMS and Cyber & Intelligence businesses) and assume contribution from the separated businesses for the full fiscal year. The Company will provide additional commentary on the fiscal year 2024 update, along with fiscal second quarter results, during its upcoming earnings call currently scheduled for May 7, 2024.

Jacobs Solutions Inc. Appoints Kevin Berryman as Interim Chief Financial Officer

Monday, April 22, 2024

Jacobs Solutions Inc. made a significant announcement regarding its leadership team, appointing Kevin Berryman as interim Chief Financial Officer (CFO), effective March 29, 2024. Berryman, previously President and CFO of Jacobs, currently serves as a Special Advisor to Jacobs' Chief Executive Officer, Bob Pragada.



This appointment follows the departure of Claudia Jaramillo, who served as CFO and is now leaving the company to pursue other opportunities. Jacobs has initiated a search for a permanent CFO with the assistance of an executive search firm.



Pragada, CEO of Jacobs Solutions Inc., said, "Kevin has been an outstanding contributor and a valuable member of Jacobs' executive leadership team having served as our CFO for over nine years, during a period of significant transformation and growth. Over the past several months he has been providing strategic and collaborative leadership in overseeing the separation of our Critical Mission Solutions and Cyber & Intelligence businesses. As we build on the strong momentum across the Company and execute our strategy to create a more streamlined, higher growth, higher margin portfolio, I am pleased to tap into Kevin's continued support and experience as interim CFO."



In response to his appointment, Berryman expressed his enthusiasm, "Serving as CFO of Jacobs was one of the most rewarding roles of my career. I look forward to working closely alongside Bob and the Jacobs team once again as interim CFO. Actions being taken to optimize the Company's cost structure and accelerate profitable growth and margin expansion are delivering positive results, as the most recently reported quarter shows. I am committed to ensuring we continue to deliver on our financial and operating objectives during the transition period to a new CFO."



Pragada also expressed gratitude for Claudia Jaramillo's work over the past two years and extended well wishes for her future endeavors.



Berryman brings extensive experience to his role at Jacobs, having joined the company as Executive Vice President and CFO in 2014. He was appointed President and CFO in November 2019 before assuming the role of Special Advisor to the CEO in August 2023. As CFO, Berryman oversaw all aspects of corporate finance, including accounting, strategy, capital allocation, mergers and acquisitions, and investor relations.



Prior to joining Jacobs, Berryman served as CFO of International Flavors and Fragrances Inc., an S&P 500 company, and held various financial and operational roles at Nestlé for 25 years.



Berryman's professional accomplishments extend beyond Jacobs, as he currently serves on the boards of directors of Sealed Air Corporation and ITT Inc. He holds a Bachelor of Arts degree in economics from Occidental College and a Master of Business Administration degree in finance from The University of California, Los Angeles.



Jacobs Solutions Inc. operates at the forefront of solving global challenges, providing professional services for government and private sector clients. With approximately $16 billion in annual revenue and a workforce of over 60,000, Jacobs is committed to transforming abstract ideas into realities that positively impact the world.

Venk Nathamuni Named Jacobs CFO

Monday, May 20, 2024

Venk Nathamuni, a senior finance executive, will take on the role of chief financial officer at Jacobs (NYSE: J) on June 3.



He will bring to the position over three decades of leadership experience in finance and will oversee the implementation of the company’s business and financial strategy, capital allocation and investor relations initiatives to meet growth objectives, Jacobs said Thursday.



“Venk’s proven track record of strategic vision, strong business leadership, and commitment to fostering a positive culture and driving results will be invaluable as we continue to innovate and drive growth in the rapidly evolving critical infrastructure landscape,” said Jacobs CEO Bob Pragada.



Nathamuni most recently served as CFO at Cirrus Logic (Nasdaq: CRUS).



Before Cirrus Logic, he was head of corporate finance, mergers and acquisitions and investor relations at Arista Networks and was vice president of M&A and corporate development at Maxim Integrated Products.



His industry career included holding leadership roles at J.P. Morgan, Synopsys, Synplicity and QuickLogic.



Kevin Berryman, who has served as interim CFO at Jacobs, will offer transitional support to Nathamuni in the coming weeks and continue to serve as a special adviser to the chief executive.

Jacobs to Provide Engineering Support for Key UK Fusion Power Programs

Friday, May 24, 2024

DALLAS,-- Jacobs (NYSE:J) was selected by the United Kingdom Atomic Energy Authority (UKAEA) for its multi-supplier Engineering Design Services framework (EDS).

Jacobs has been appointed to all capability areas on the four-year framework, valued at up to $11.25 million (£9 million), which supports the development of a U.K. industrial supply chain capability by allowing the companies to work closely with UKAEA as it undertakes fusion energy research.

"The EDS framework is intended to support UKAEA with the delivery of strategically important tasks alongside routine support. It allows us to work collaboratively with UKAEA and its supply chain to find solutions to some of their most complex engineering problems," said Jacobs Vice President Andy White. "We support UKAEA on the existing framework in four capability areas and we have now built on this to expand our role and become a full-service supplier."

EDS covers mechanical, process, electrical, control and instrumentation, and systems engineering, as well as computer-based modelling and simulations, and specialist nuclear services ranging from laboratory research to decommissioning and waste management.

UKAEA manages the U.K. fusion program at the Culham Campus, one of the world's leading fusion research laboratories. Its programs include the Spherical Tokamak for Energy Production (STEP), which aims to build a prototype power plant by 2040 to demonstrate the ability to generate net electricity. This is a key milestone towards harnessing fusion, the reaction which powers the sun and stars, as a new source of safe, clean and near-limitless energy.

Jacobs is also delivering a range of technological and engineering innovation and support to ITER, the world's largest fusion energy project based in Saint-Paul-lès-Durance, France, and now employs more than 350 people working on fusion around the world, in positions ranging from research and development to project delivery, creating new opportunities for physicists, scientific researchers, project managers and engineers in all disciplines.

"This framework has enabled UKAEA to work collaboratively and with maximum efficiency with the fusion supply chain," said UKAEA Strategic Procurement Business Partner Colette Broadwith. "By renewing it for another four years, UKAEA can continue to leverage the engineering and technical expertise of our industrial partners to help accelerate fusion energy's commercialisation, for the benefit of all."

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $16 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and X.

Dallas-Based Jacobs Announces New Chief Financial Officer

Tuesday, May 28, 2024

Jacobs said that Venk Nathamuni brings deep knowledge and expertise to his new role at Jacobs. In his last post, he was CFO at Cirrus Logic, a $6 billion global semiconductor company.

Dallas-based professional services company Jacobs has appointed Venk Nathamuni as the company’s new chief financial officer, effective June 3.

“Venk’s experience is a powerful combination of deep technical knowledge and financial acumen, encompassing corporate finance, strategy, capital allocation and M&A,” Jacobs CEO Bob Pragada said in a statement. “Venk’s proven track record of strategic vision, strong business leadership, and commitment to fostering a positive culture and driving results will be invaluable as we continue to innovate and drive growth in the rapidly evolving critical infrastructure landscape. His appointment underscores our commitment to excellence and our dedication to driving value for our clients, employees and shareholders.”

Jacobs said that during a more-than 30-year career, which includes 15 years’ experience in executive-level finance and strategic leadership roles, Nathamuni brings deep knowledge and expertise to his new role at Jacobs.

The company said he will oversee Jacobs’ financial operations, enterprise-wide optimization, capital allocation, and investor relations activities, and will play a significant leadership role in guiding the company’s financial and business strategy to support its long-term growth objectives and enhancing shareholder value.

Formerly CFO of $6B Cirrus Logic

Before joining Jacobs, Nathamuni was CFO at Cirrus Logic, a $6 billion global semiconductor company renowned for its cutting-edge technology solutions. During his tenure at Cirrus Logic, Nathamuni played a pivotal role in driving financial performance and executing strategic initiatives that propelled the company’s profitable growth and value creation for all stakeholders.

Nathamuni also held a variety of impactful leadership positions at J.P. Morgan, Synopsys, Synplicity and QuickLogic.

“I also want to take this opportunity to thank Kevin Berryman for acting as interim CFO,” Pragada said. “He will provide transitional support to Venk over the coming weeks and continue in his role as Special Advisor to the CEO to drive a successful conclusion to the separation of our Critical Mission Solutions and Cyber & Intelligence business.”

Nathamuni said he’s looking forward to helping move Jacobs forward.

“I’m excited to join the talented team at Jacobs and contribute to the company’s continued success,” Nathamuni said in a statement. “Jacobs is a formidable company and has a strong culture. I look forward to collaborating with Bob and the team to continue to drive financial excellence, operational efficiency, and a sustainable next generation of growth while contributing to the business transformation.”

Jacobs Bottom Line Likely to Benefit From Red-Hot Weight-Loss Drug Market

Wednesday, May 29, 2024

As Jacobs Solutions prepares for a big impending spin-off, it stands to benefit from three of the hottest manufacturing market sectors in its more traditional design and program management business: data centers, computer chips and the pharmaceutical companies that make diabetes and weight-loss drugs that include the insulin control known as GLP-1.

Jacobs has longstanding working relationships with two of the pharmaceutical companies, Novo Nordisk and Eli Lilly.

The pharmaceutical companies have been straining to meet the intensifying demand for obesity drugs. Jacobs provides “capacity and speed” for their delivery, CEO Robert Pragada recently told CNBC interviewers.

In an earnings conference call May 8, Pragada said that Jacobs' work for the two firms involves “nearly over 50% of the capital” that those companies are putting in place. So that work “continues to be a big driver” for Jacobs' life sciences unit, he said.

More contracts, related to advances in oncology drugs, soon should also be in hand, he added.

While building up work in these and other sectors for its more conventional design and construction services clients, the Dallas-based company is planning to create a separate entity using its Critical Mission Solutions and Cyber Security units and merging them with Amentum, a Chantilly, Va.-based engineer and project management firm. That merger deal was announced in November.

There are other changes. On May 20 the company announced that it had hired a new chief financial officer, Venk Nathamuni, who comes with experience in the computer chip and semiconductor industry.

The changes are being made as the company continues to post good financial results. Jacobs (NYSE-J) reported adjusted net earnings from continuing operations of $241 million, on revenue of $3.5 billion, for the second quarter ending in March of its fiscal year, compared to $262 million on $3.4 billion in the same period of the prior year.

Jacobs Solutions is ranked Number 1 for 2023 in several market categories in the ENR Top 500 Design Firms, including manufacturing. Jacobs is also Number 1 in overall revenue, with $12.7 billion in 2023.

The company has stressed its search for efficiency, selectivity and high win-rates when it comes to pursuing work.

In the earnings conference call, UBS Securities analyst Judah Aronovitz asked Pragada for details about “what kind of projects you are saying no to?”

Pragada, responding indirectly, said that Jacobs had always been selective but that it has become “a primary focus for us as the opportunities have increased.” In transportation, he added, Jacobs' win rates “have been the highest, you could say, the highest in the market.”

Long-term client relationships are a big part of that success, he said. “We're not out looking for work.”

Specifically Speaking: Joe Maddox On The Need To Attract Young Talent

Thursday, July 04, 2024

Physical Security Engineer At Jacobs Talks Adding Creative Minds, Designing Physical Security Systems And More

YARMOUTH — Joe Maddox, physical security engineer at Jacobs, feels that the security industry should make a considerable effort to attract young talent.

“In my opinion, based only on observation, the mean age of personnel in this industry is too high,” he told SSN. “The security industry needs to be better at attracting the right type of technology-thirsty and creative minds from a younger demographic.”

Maddox cited the creativity that the security industry provides as a reason why younger professionals would pursue a career in security.

“Consider the worthy but more ‘binary’ disciplines like structured cabling, or fire alarm, where there is very little room for creativity,” Maddox explained. “Contrast that with the security industry, which requires creativity to properly apply the broad palette of technologies and design disciplines to each client's unique situation. This requirement for constant cross-functional thinking should be used as an appeal to those longing for a career in engineering and contracting that retains its excitement and challenge decade after decade.”

As part of Security Systems News’ monthly column Specifically Speaking, the following is an exclusive Q&A with Maddox:

SSN: What are your roles and responsibilities at the company?

MADDOX: I am honored to serve Jacobs as a physical security engineer, and I am also a BICSI [Building Industry Consulting Services International] RCDD (Registered Communications Distribution Designer). I serve on an incredible team of security-centric designers and engineers consulting on and designing electronic physical security systems.

SSN: What kinds of systems do you design/specify and what services does the company provide?

MADDOX: Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector.

Our team designs and specifies electronic physical access control systems, video surveillance systems, intrusion detection systems, and intercom systems, and we consult on the structured cabling infrastructure to support those systems.

Beyond the design and specification of systems for construction, Jacobs' security-related services include EPA-mandated Risk and Resiliency Assessments (RRA) for water utilities, vulnerability assessments and security consulting for any vertical.

SSN: Any interesting projects that you can mention?

MADDOX: I am currently performing a vulnerability and risk assessment analysis for a new (greenfield) raw water intake and processing plant and leading the security design for an enormous existing water intake, treatment, and distribution facility. That design will include advanced integration of video and radar analytics along with a facility-wide upgrade to cutting-edge access control.

SSN: How did you get started in security and designing/specifying?

MADDOX: After 16 years of bench electronics experience in the military and manufacturing in a variety of roles, from technician to production manager, I was invited to join a PSA founding integrator as its operations manager. That eight years of experience led to an invitation to join a major local MEPT [mechanical, electrical, plumbing, and technology] design firm that needed practical, Division 28 security system experience, and they gave me experience with all the other Division 27 communications technologies.

SSN: Can you talk about what new or emerging technologies you are seeing or

specifying today?

MADDOX: Radar and LiDAR [light detection and ranging], enhanced by analytics, are the game-changers that put real perimeter detection into the hands of operators or automation for consistent response outcomes. These technologies accomplish this at a reasonable investment and low infrastructure bandwidth, and with minimal false positives.