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Jacobs Solutions

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"Jacobs Engineering" redirects here. Not to be confused with Jacobs School of Engineering.

Jacobs Engineering Inc.
FormerlyJacobs Engineering Group Inc.
Company typePublic
Industry
Founded1947; 77 years ago (1947)
FounderJoseph J. Jacobs
HeadquartersHarwood Center,
Dallas, Texas
,
U.S.
Area served
Worldwide
Key people
Bob Pragada
(chairman & CEO)
RevenueIncrease US$11.5 billion (2024)
Increase US$692 million (2024)
Increase US$806 million (2024)
Total assetsDecrease US$11.8 billion (2024)
Total equityDecrease US$4.55 billion (2024)
Number of employees
c. 45,000 (2024)
SubsidiariesCH2M, The KeyW Corporation, The Buffalo Group, Gibb, Halcrow Group, Babtie, Shaw and Morton, Leighfisher, KlingStubbins, Simetrica, Federal Network Systems, Edwards & Kelcey, Aquenta Consulting, Bechtel Jacobs, FMHC Corporation
Websitejacobs.com
Footnotes / references
Financials as of September 27, 2024.[1]

Jacobs Solutions Inc. is an American international technical professional services firm based in Dallas, Texas.[2][3] The company provides engineering, technical, professional and construction services, as well as scientific and specialty consulting for a broad range of clients globally, including companies, organizations, and government agencies.[4] Jacobs has consistently ranked No. 1 on both Engineering News-Record (ENR)'s 2018, 2019, 2020, 2021, 2022 and 2023 Top 500 Design Firms[5] and Trenchless Technology’s 2018, 2019, 2020 and 2021 Top 50 Trenchless Engineering Firms.[6] Its worldwide annual revenue reached over $14 billion in the 2021 fiscal year, and earnings rose to $477 million.[1]: F-4 

Overview

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Jacobs Engineering was founded in 1947, by Joseph J. Jacobs. The company's current Chief Executive Officer is Bob Pragada. He has been the CEO since January 2023. Steve Demetriou, the CEO from 2015 to 2023, now serves as the Executive Chair. The previous President and CEO was Craig L. Martin from 2006 until 2014.[7]

The company is publicly traded as a Fortune 500 company.[8] As of September 2018, Jacobs had more than 80,800 employees globally, and more than 400 offices in North America, South America, Europe, the Middle East, Australia, Africa, and Asia.[4]

In October 2016, the company moved its headquarters from Pasadena, California to Dallas, Texas.[2]

On August 9, 2017, the Pentagon awarded a $4.6 billion Integrated Research & Development for Enterprise Solutions (IRES) follow-on contract to Jacobs Technology Inc, a unit of Jacobs Engineering Group Inc. to provide products and services for the Missile Defense Agency and its Missile Defense Integration and Operations Center.[9][10]

In October 2018, Jacobs agreed to sell its Energy, Chemicals and Resources (ECR) segment to WorleyParsons.[11]

In April 2021, the Institute on Taxation and Economic Policy listed the top 55 corporations that paid $0 in taxes for the year 2020. Jacobs' federal income taxes for that year were negative $37 million dollars for an effective tax rate of −17.4%.[12]

As of 2023, the company forms part of the Dow Jones Sustainability Indices.[13][14]

In 2024, Jacobs spun-off its Critical Mission Solutions and Cyber and Intelligence Government Services businesses which merged with privately-held Amentum Government Services Holding LLC to create a new, publicly-traded company, Amentum.[15][16]

Acquisitions

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In 2001, Jacobs acquired the international operations, including the UK-based international consultancy Sir Alexander Gibb & Partners (Gibb Ltd), off Atlanta, Georgia-based Law Engineering and Environmental Services.[17][18]

In FY 2007, Jacobs acquired the privately held planning, engineering and design firm, Edwards and Kelcey for an undisclosed amount.[19]

In FY 2008, Jacobs spent $264 million to acquire Carter and Burgess, Lindsey Engineering and a 60% stake in Zamel and Turbag Consulting Engineers.[20] In FY 2010, Jacobs acquired TechTeam, Tybrin and Jordan, Jones and Goulding for $259.5 million total.[21]

In FY 2014, Jacobs announced it completed a merger transaction with Sinclair Knight Merz (SKM), a 6,900-person professional services firm headquartered in Australia. The purchase price reflects an enterprise value of AUS$1.2 billion (US$1.1 billion) plus adjustments for cash, debt and other items.[22]

On August 2, 2017, Jacobs acquired CH2M Hill – an engineering firm in infrastructure and government service sectors, including water, transportation, environmental and nuclear, in a $3.27 billion cash-and-stock deal.[23]

In March 2020, Jacobs acquired Wood Nuclear, the nuclear services arm of UK-based John Wood Group, for £250 million, adding 2000 staff and bringing Jacobs' total UK workforce to almost 11,000.[24]

In December 2020, Jacobs announced it would be investing in the UK based company PA Consulting in a deal valued at £1.825 billion. Completion of the deal was expected to take place by the end of Q1 2021.[25]

On February 7, 2022, Jacobs announced it would enter into a joint venture with the Qatar based entity Locus Engineering Management and Services Co. W.L.L, an Asset Management company with interests in Building Maintenance, Infrastructure, Oil and Gas Support Services and Engineering. The terms of the venture were not disclosed at the time of announcement.[26]

Controversies

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Kingston coal ash cleanup

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Main article: Kingston Fossil Plant coal fly ash slurry spill

The Kingston Fossil Plant coal fly ash slurry spill was an environmental and industrial disaster that occurred on Monday December 22, 2008, when a dike ruptured at a coal ash pond at the Tennessee Valley Authority's Kingston Fossil Plant in Roane County, Tennessee, releasing 1.1 billion U.S. gallons (4.2 million cubic meters) of coal fly ash slurry.[27] TVA hired Jacobs Engineering to clean up the spill.[28] In the years following the spill at the cleanup site, a number of workers suffered health effects.[29]

As early as 2012, workers began to report illnesses that they believed were caused by the cleanup,[29] and by the ten year anniversary of the event, hundreds of workers had been sickened and more than 30 had died.[30] In May 2023, it was reported that more than 50 workers had died and 150 were sick.[31]

In 2013, 50 workers and their families filed a lawsuit against contractor Jacobs Engineering.[29] They were represented by Knoxville lawyer James K. Scott. This lawsuit was dismissed by judge Thomas A. Varlan, chief justice for the U.S. District Court for the Eastern District of Tennessee the following year.[27] This ruling was reversed by the U.S. Court of Appeals for the Sixth Circuit after evidence was discovered that Jacobs Engineering had misled the workers about the dangers of coal ash.

A federal jury ruled in favor of the workers seeking compensation in November 2018. The ruling held that Jacobs Engineering had failed to keep the workers safe from environmental hazards, and had misled them about the dangers of coal ash, mainly by claiming that extra protective equipment, such as masks and protective clothing, was unnecessary.[32][33]

In a phase two of the trial, the Kingston cleanup workers will be able to seek damages.[29] In April 2020, 52 workers rejected a $10 million settlement offered by Jacobs Engineering.[34]

Hinkley Point

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See also: Hinkley Point C nuclear power station

Jacobs Engineering is constructing the Hinkley Point C nuclear reactor, controversial for the reason of its excessive delays and cost overruns. “It’s three times over cost and three times over time where it’s been built in Finland and France,” said Paul Dorfman of UCL Energy Institute.[35] The companies involved have been accused of a conflict of interest as the company advising the UK about cost management was owned by Jacobs Engineering, while Jacobs was working for the company managing the project EDF.[36] In other words, a subsidiary of a company hired by EDF was advising the UK how much money to grant EDF.

Woonsocket Regional Wastewater Treatment Facility

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The Rhode Island Department of Environmental Management is investigating this Jacobs-run plant for spillage of an estimated 10 million gallons of wastewater with incomplete treatment into the Blackstone River in June 2022. Previous investigations resulted in letters of noncompliance issued to Jacobs in 2021 and 2020.[37]

See also

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References

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  1. ^ a b "Jacobs Solutions Inc. FY 2024 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. November 25, 2024.
  2. ^ a b "Global engineering firm to relocate headquarters from California to Dallas". Archived from the original on August 5, 2017. Retrieved August 27, 2017.
  3. ^ "Can Jacobs Engineering Group Inc. (NYSE:JEC) Surprise Analysts?". Investor Newswire. Archived from the original on June 30, 2015. Retrieved July 3, 2015.
  4. ^ a b "A Company Like No Other". Retrieved April 15, 2019.
  5. ^ "[1]," ENR, Retrieved Nov 1, 2023.
  6. ^ "[2]," Trenchless Technology, December 19, 2019. Retrieved July 19, 2020.
  7. ^ "Jacobs Engineering CEO Craig Martin announces retirement, cites health reasons". Star Tribune. November 23, 2014. Archived from the original on November 29, 2014. Retrieved November 25, 2014.
  8. ^ "Jacobs Engineering Group". Fortune. Archived from the original on June 18, 2017. Retrieved November 29, 2018.
  9. ^ "Jacobs Technology wins $4.6 billion U.S. defense contract: Pentagon". Reuters. August 9, 2017. Retrieved August 9, 2017.
  10. ^ "Contracts for August 9, 2017". U.S. Department of Defense. Retrieved August 9, 2017.
  11. ^ "Australia's WorleyParsons to buy Jacobs energy, resources arm for $3.3 billion". Reuters. October 21, 2018. Retrieved January 6, 2019.
  12. ^ "55 Corporations Paid $0 in Federal Taxes on 2020 Profits". Retrieved May 21, 2021.
  13. ^ "Jacobs Recognized in the Dow Jones Sustainability World Index and CDP a List". Jacobs. December 20, 2022.
  14. ^ Walker, Andy (December 21, 2022). "Jacobs gains global recognition for sustainability leadership". Infrastructure Global. Retrieved October 9, 2024.
  15. ^ "Amentum Announces Agreement to Merge with Jacobs' Critical Mission Solutions and Cyber and Intelligence Businesses". Amentum. November 20, 2023. Retrieved October 9, 2024.
  16. ^ "Jacobs to Spin-off [sic] and Merge its Critical Mission Solutions and Cyber & Intelligence Government Services Businesses with Amentum, Creating an Independent, Publicly Traded Company". Jacobs. November 20, 2023. Retrieved October 9, 2024.
  17. ^ Nguyen, Hang (February 14, 2001). "Jacobs Engineering to Buy LawGibb Group". Los Angeles Times. Retrieved August 18, 2023.
  18. ^ Bolton, Andrew (February 22, 2001). "Gibb sold by parent Law". New Civil Engineer. Retrieved August 18, 2023.
  19. ^ "Jacobs Engineering to Buy Edwards and Kelcey". March 22, 2007.
  20. ^ "2008 Annual Report" (PDF). Jacobs. Retrieved September 3, 2019.
  21. ^ "2010 Annual Report" (PDF). Jacobs. Retrieved September 3, 2019.
  22. ^ "Jacobs Completes Merger Transaction with Sinclair Knight Merz". invest.jacobs.com.
  23. ^ "Jacobs Engineering to boost government business with CH2M buy," Reuters, August 2, 2017. Retrieved August 2, 2017.
  24. ^ Lowe, Tom (March 9, 2020). "Jacobs snaps up Wood's nuclear business for £250m". Building. Retrieved March 9, 2020.
  25. ^ "Carlyle exits PA Consulting stake following Jacobs investment". Consultancy UK. December 2020.
  26. ^ "Jacobs Acquires Mobility Analytics Leader StreetLight Data, Inc". PR Newswire. February 2022.
  27. ^ a b "A Lawyer, 40 Dead Americans, and a Billion Gallons of Coal Sludge". Men's Journal. August 26, 2019. Retrieved March 16, 2022.
  28. ^ Satterfield, Jamie. "Kingston coal ash case: From spill to sicknesses to lawsuits". Knoxville News Sentinel. Retrieved March 16, 2022.
  29. ^ a b c d Wilkins, Jason Moon (August 24, 2018). "Workers Who Cleaned Up The Kingston Coal Ash Spill Say They Were Misled About The Danger". Nashville Public Radio. Archived from the original on August 25, 2018.
  30. ^ Satterfield, Jamie. "On 10th anniversary of Kingston coal ash spill, workers who went 'through hell and back' honored". Knoxville News Sentinel. Retrieved March 16, 2022.
  31. ^ Satterfield, Jamie (May 23, 2023). "Jacobs Engineering settles Kingston coal ash case". Tennessee Lookout. Retrieved May 24, 2023.
  32. ^ "Neglected threat: Kingston's toxic ash spill shows the other dark side of coal". Environment. February 19, 2019. Archived from the original on February 20, 2021. Retrieved March 16, 2022.
  33. ^ Satterfield, Jamie. "Jury: Jacobs Engineering endangered Kingston disaster clean-up workers". Knoxville News Sentinel. Retrieved March 16, 2022.
  34. ^ Powers, Mary B. (April 21, 2020). "Coal-Ash Spill Cleanup Workers Reject Reputed $10M Exposure Settlement". Engineering News-Record.
  35. ^ "Hinkley Point: the 'dreadful deal' behind the world's most expensive power plant". the Guardian. December 21, 2017. Retrieved March 16, 2022.
  36. ^ Ralph, Alex. "Hinkley firm in conflict row over links to French". The Times. ISSN 0140-0460. Retrieved March 17, 2022.
  37. ^ "DEM: Partially treated wastewater in Blackstone River". WPRI.com. June 5, 2022. Retrieved June 5, 2022.
[edit]
  • Official website
  • Business data for Jacobs Solutions Inc.:
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