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Congratulations Stephen on your deal curious as where the analysts this morning on the conference call apparently as to what you might do with the 3.3 billion raised good morning Vani and thank you it's great to be here and you know I think that's a great question. And it's one. That we have options clearly we've been successful in deploying capital for organic and in M&A but we also will be mindful of overall shareholder return and so we have three to six. Months to think about this before we close this deal and we look forward to making the best decisions for our share hold how big are the separation costs in this deal that's it's not very material it's in the range of about 20 million dollars of stranded costs that we we. Just need to make sure get eliminated as we pass on to Worley Parsons our you know global energy chemicals and resources group Steve the market obviously likes to deal we've seen the shares go. Up about six percent already this morning why is Jacobs a better company today than it was before this deal yeah it's great to see the market reaction you know really though the whole strategy here is to optimize the portfolio to focus. On more more higher margin higher growth businesses where national governments and our commercial. Clients are prioritizing and and so buildings infrastructure advanced. Facilities our aerospace technology environmental nuclear business we feel like that's the place to be over the next many years let's just pick up on the infrastructure point I think post-deal the company is about 70 percent exposed to the US Trump obviously it's been very vocal about his infrastructure plans a trillion and a. Half that he wants to go with are you seeing any of that yet or has it been sort of a disappointment so far no. The infrastructure business has been pretty very positive recently and not just in the US but on a global basis. Aging infrastructure urbanization resiliency. Issues but also the desire for more smart infrastructure smart building smart transportation I could go on but it's happening everywhere around the world but the desire in the u.s. is obviously there as we've we've noted but have you actually seen. That spend start to come through an effective business yeah absolutely we we're working on several new projects around modernization of airports everywhere from LAX O'Hare LaGuardia major highway programs I we have not been limited by any funding. Issues so far in the US and we look forward to hopefully some of the more robust funding that the Trump administration is pushing through to. Ultimately happen what about the outlook for aerospace Stephen yeah the our you know our all aerospace business is is exciting you know we're we're very much involved in deep exploration we. Have thousands of Jacobs employees working in across all of the NASA sites on on everyday sort of managing the mission but especially the SLS Orion mission going up into space and eventually to. Mars well that's exciting yeah I'm wondering about valuation the three point three billion dollars how was it arrived at do you feel it was fair obviously you're. Happy with it yeah we see this as a clear. Win-win for both Worley Parsons and Jacobs from our standpoint we we feel like we got a very attractive value premium value for for the for our business eleven and. A half times our trailing 12-month adjusted EBIT is I would say above market but at the same time Worley Parsons has tremendous opportunities for synergies especially on the growth side and so when you look at their net synergy multiple and and our multiple it's a it's a clear win-win for both companies Steve one thing that's really interesting. To me is that one. Of the benefits that you guys cite about this deal is that it gets you out of I suppose the cyclical nature of the energy business oddly one of the things that Worley. Parsons cites is being a benefit is it gets them into that cyclic ality and actually gives them some diversification diversification through the cycle it's not just a difference of philosophies in the way these businesses should work you know I think when you're in. A business like the energy chemicals of resources scale is important and also and to end solutions are important as well and what. Jacob Springs the worldly Parsons now is the complete picture for energy chemicals and resources everything from upstream refining chemicals but also strengthening their renewable energy and in an innovation digital solutions and so for worldly Parsons for them it's a. Great way to focus a hundred percent on that while we focus a hundred percent on becoming a solutions provider in. Infrastructure government services and advanced facilities.

 


Jacobs Engineering Group Company News

Tue, 07 May 2019 22:30:00 GMT
Jacobs Engineering Group Inc (JEC) CEO Steven Demetriou on Q2 2019 Results - Earnings Call Transcript - Seeking Alpha
<ol><li> Jacobs Engineering Group Inc (JEC) CEO Steven Demetriou on Q2 2019 Results - Earnings Call Transcript Seeking Alpha</font></li><li><a href="/url/?u=https://www.fool.com/earnings/call-transcripts/2019/05/07/jacobs-engineering-group-jec-q2-2019-earnings-call.aspx" target="_blank">Jacobs Engineering Group (JEC) Q2 2019 Earnings Call Transcript Motley Fool</font></li><li><a href="/url/?u=https://news.yahoo.com/jacobs-engineering-jec-beats-q2-233411263.html" target="_blank">Jacobs Engineering (JEC) Beats Q2 Earnings Estimates (revised) Yahoo News</font></li><li><a href="/url/?u=https://claytoncaller.com/how-does-the-0-053625-roe-stack-up-for-jacobs-engineering-group-inc-nysejec/81485/" target="_blank">How Does the 0.053625 ROE Stack up for Jacobs Engineering Group Inc. (NYSE:JEC)? The Clayton Caller</font></li><li><strong><a href="/url/?u=https://news.google.com/stories/CAAqOQgKIjNDQklTSURvSmMzUnZjbmt0TXpZd1NoTUtFUWkxNGZMeWpZQU1FVmF0WDlMXzdFNTZLQUFQAQ?oc=5" target="_blank">View full coverage on Google News</a></strong></li></ol>
Thu, 09 May 2019 17:04:00 GMT
These stock unquestionably holds a key to triumph: Jacobs Engineering Group Inc. (JEC), Cigna Corporation (CI) - FinBulletin
These stock unquestionably holds a key to triumph: Jacobs Engineering Group Inc. (JEC), Cigna Corporation (CI) FinBulletin Throughout the past nine days on the trading calendar, Jacobs Engineering Group Inc. (NYSE: JEC) shares demonstrated a Historic Volatility of 13.41%.
Mon, 22 Apr 2019 07:00:00 GMT
Hanover-based KeyW to be acquired by Jacobs Engineering Group in $815M deal - Technical.ly Brooklyn
Hanover-based KeyW to be acquired by Jacobs Engineering Group in $815M deal Technical.ly Brooklyn A Maryland company that employs nearly 1,800 people providing cybersecurity, intelligence and analytics services mostly to the federal government is joining a ...
Tue, 07 May 2019 10:33:00 GMT
Jacobs Engineering: Fiscal 2Q Earnings Snapshot - Houston Chronicle
Jacobs Engineering: Fiscal 2Q Earnings Snapshot Houston Chronicle DALLAS (AP) _ Jacobs Engineering Group Inc. (JEC) on Tuesday reported fiscal second-quarter net income of $56.9 million. On a per-share basis, the ...
Wed, 01 May 2019 14:04:44 GMT
Jacobs Engineering tops ENR's 2019 design firm rankings - Construction Dive
Jacobs Engineering tops ENR's 2019 design firm rankings Construction Dive Construction industry news, trends and jobs for building professionals who want mobile-friendly *content*.
Thu, 09 May 2019 17:21:43 GMT
Jacobs Engineering Group Inc. ($JEC$): Is there any Magic? MF stands at 1476 - Williams Review
Jacobs Engineering Group Inc. ($JEC$): Is there any Magic? MF stands at 1476 Williams Review The MF Rank (Magic Formula Rank) is a formula that helps identify a valuable company trading at a good price. The formula is calculated by looking at ...
Fri, 10 May 2019 03:06:52 GMT
Shares Under Review: Jacobs Engineering Group Inc. (NYSE:JEC) - Riverdale Standard
Shares Under Review: Jacobs Engineering Group Inc. (NYSE:JEC) Riverdale Standard Monitoring recent stock price movement on shares of Jacobs Engineering Group Inc. (NYSE:JEC) we have recorded the stock price at $79.03. Investors may be.
Mon, 29 Apr 2019 07:00:00 GMT
Jacobs progresses portfolio transformation - Seeking Alpha
Jacobs progresses portfolio transformation Seeking Alpha Jacobs (NYSE:JEC) has successfully closed the previously announced $3.3B sale of its Energy, Chemicals and Resources segment to WorleyParsons ...
Mon, 29 Apr 2019 07:00:00 GMT
How Jacobs changes after $815M acquisition - Dallas Business Journal
How Jacobs changes after $815M acquisition Dallas Business Journal Jacobs may be known for its engineering services, but the Dallas-based company has a robust national security side of the business that got stronger.
Wed, 08 May 2019 20:54:35 GMT
Directional Indicator in Focus for Jacobs Engineering Group Inc (JEC) With a Buy Signal - Williams Review
Directional Indicator in Focus for Jacobs Engineering Group Inc (JEC) With a Buy Signal Williams Review Investors and traders may be focusing on some technical indicators for Jacobs Engineering Group Inc (JEC). Currently, the 7-day average directional indicator is ...