Major engineering stocks Jacobs Engineering Group (J) and Fluor (FLR) traded flat to reduced early Friday as investors digested their March-quarter reviews. Jacobs earnings, documented late Thursday, defeat estimates. Flour shipped blended final results Friday morning.
The stories give some early visibility into weighty builders gearing up to get on tasks funded by the Biden administration’s $1.2 trillion infrastructure invoice. Refinery construction is also set to boom as need for oil picks up. The infrastructure invoice features $110 billion in new funding to maintenance streets and bridges. It also invests $17 billion to enhance port infrastructure and waterways, and $25 billion in airport fixes and updates.
It earmarks a lot more than $65 billion to up grade the nation’s electrical power infrastructure. In addition, the laws invests around $50 billion to make communities safer and infrastructure much more resilient to the impacts of local weather