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KBR Secures HyEx Green Ammonia Contract in South America
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KBR, Inc. (KBR - Free Report) secured a green ammonia technology, K-GreeN contract with Enaex, S.A. for the HyEx green ammonia project in Chile, South America.
Shares of KBR gained 0.6% during the trading session on Feb 6 but dropped 1.3% in after-market trading hours.
The HyEx project will exhibit stability in operations for the production of green ammonia using renewable energy from photovoltaic power plants. KBR’s exceptional proprietary technology and basic engineering design will act as the base for Toyo Engineering Corporation, which will take up front-end engineering and design (FEED) work for the project.
Pertaining to the project, KBR’s president for Technology division, Doug Kelly said, “The innovative concepts that will be incorporated in this project will achieve industrial scale production of green ammonia using renewable energy from photovoltaic and wind power.”
Focus on Green Solutions
KBR has been a leader in energy transition and has wide-ranging experience supporting sustainable energy projects worldwide. The determination to lower emissions, product diversification, energy efficiency and more sustainable technologies and solutions have been driving KBR’s performance. The demand for the company’s technologies across ammonia for food production, olefins for non-single-use plastics and in refining for product diversification, and more green solutions to meet tighter environmental standards has been going strong. A strategic shift to IP-enabled maintenance is also gaining traction and KBR continues to see increasing activity across the advisory portfolio, particularly in energy transition.
In third-quarter 2022, revenues from Sustainable Technology Solutions (STS) increased 15.6% to $333 million year over year. STS benefited from strong end markets, superior technology offerings and highly sought-after engineering solutions.
Also, the STS backlog increased 71% to $4.01 billion in the third quarter compared to $2.3 billion at 2021-end. The company’s total backlog increased to $19.77 billion as of Sep 30, 2022 from $19.71 billion at 2021-end.
Image Source: Zacks Investment Research
Shares of KBR have risen 14.9% compared with the Zacks Engineering - R and D Services industry’s growth of 20.2% in the past year. Although KBR shares have underperformed its industry over the past year, KBR’s solid backlog level highlights its underlying strength. This was backed by a solid contract-winning spree, strong project execution, and impressive performance of its government and technology businesses.
United Rentals currently sports a Zacks Rank #1. Shares of the company have gained 40.3% in the past year. The long-term earnings growth rate of the company is 16.3%.
The Zacks Consensus Estimate for URI’s 2024 sales and EPS suggests growth of 2% and 9.9%, respectively, from the year-ago period’s reported levels.
NVR currently flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 6.9%, on average. Its shares have rallied 24.7% in the past three months.
The Zacks Consensus Estimate for NVR’s 2024 sales and EPS suggests growth of 6% and 4.6%, respectively, from the year-ago period’s reported levels.
Sterling currently carries a Zacks Rank #2. STRL has a trailing four-quarter earnings surprise of 20%, on average. Shares of the company have gained 24.4% in the past year.
The Zacks Consensus Estimate for STRL’s fiscal 2023 sales and EPS suggests growth of 0.6% and 9.9%, respectively, from the 2022 reported levels.
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KBR Secures HyEx Green Ammonia Contract in South America
KBR, Inc. (KBR - Free Report) secured a green ammonia technology, K-GreeN contract with Enaex, S.A. for the HyEx green ammonia project in Chile, South America.
Shares of KBR gained 0.6% during the trading session on Feb 6 but dropped 1.3% in after-market trading hours.
The HyEx project will exhibit stability in operations for the production of green ammonia using renewable energy from photovoltaic power plants. KBR’s exceptional proprietary technology and basic engineering design will act as the base for Toyo Engineering Corporation, which will take up front-end engineering and design (FEED) work for the project.
Pertaining to the project, KBR’s president for Technology division, Doug Kelly said, “The innovative concepts that will be incorporated in this project will achieve industrial scale production of green ammonia using renewable energy from photovoltaic and wind power.”
Focus on Green Solutions
KBR has been a leader in energy transition and has wide-ranging experience supporting sustainable energy projects worldwide. The determination to lower emissions, product diversification, energy efficiency and more sustainable technologies and solutions have been driving KBR’s performance. The demand for the company’s technologies across ammonia for food production, olefins for non-single-use plastics and in refining for product diversification, and more green solutions to meet tighter environmental standards has been going strong. A strategic shift to IP-enabled maintenance is also gaining traction and KBR continues to see increasing activity across the advisory portfolio, particularly in energy transition.
In third-quarter 2022, revenues from Sustainable Technology Solutions (STS) increased 15.6% to $333 million year over year. STS benefited from strong end markets, superior technology offerings and highly sought-after engineering solutions.
Also, the STS backlog increased 71% to $4.01 billion in the third quarter compared to $2.3 billion at 2021-end. The company’s total backlog increased to $19.77 billion as of Sep 30, 2022 from $19.71 billion at 2021-end.
Image Source: Zacks Investment Research
Shares of KBR have risen 14.9% compared with the Zacks Engineering - R and D Services industry’s growth of 20.2% in the past year. Although KBR shares have underperformed its industry over the past year, KBR’s solid backlog level highlights its underlying strength. This was backed by a solid contract-winning spree, strong project execution, and impressive performance of its government and technology businesses.
Zacks Rank & Key Picks
KBR currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Zacks Construction sector are United Rentals, Inc. (URI - Free Report) , NVR, Inc. (NVR - Free Report) and Sterling Infrastructure, Inc. (STRL - Free Report) .
United Rentals currently sports a Zacks Rank #1. Shares of the company have gained 40.3% in the past year. The long-term earnings growth rate of the company is 16.3%.
The Zacks Consensus Estimate for URI’s 2024 sales and EPS suggests growth of 2% and 9.9%, respectively, from the year-ago period’s reported levels.
NVR currently flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 6.9%, on average. Its shares have rallied 24.7% in the past three months.
The Zacks Consensus Estimate for NVR’s 2024 sales and EPS suggests growth of 6% and 4.6%, respectively, from the year-ago period’s reported levels.
Sterling currently carries a Zacks Rank #2. STRL has a trailing four-quarter earnings surprise of 20%, on average. Shares of the company have gained 24.4% in the past year.
The Zacks Consensus Estimate for STRL’s fiscal 2023 sales and EPS suggests growth of 0.6% and 9.9%, respectively, from the 2022 reported levels.