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KBR Inc. (KBR - Free Report) continues its award-winning spree and recently secured pre-front end engineering design (FEED) and project support services deals from BP. The company will provide pre-FEED and project support services to help BP develop Tortue/Ahmeyim field offshore Mauritania and Senegal. Revenues related to the project will be booked into backlog for the Engineering and Construction (E&C) Segment in the third quarter of 2017.
The Pre-FEED and Project Support Contract
Per the contract, KBR will provide pre-FEED and project support covering design of the subsea, offloading (FPSO) facility, inshore hub/terminal and interfaces for floating liquefied natural gas (FLNG). KBR's subsidiary Granherne has already completed the "concept phase work" for the development of the field for BP's partner, Kosmos. The recent contract is an extension of this work.
KBR will continue to aid BP and its partners to develop an LNG hub for Mauritania and Senegal. The company is expected to perform its pre-FEED work over the next six months.
Other Major Contracts
Over the past few months, some of the notable contracts secured by the Engineering and Construction segment include a contract from Sydney Desalination Plant Pty Limited and services contract by international pager products maker, International Paper (IP). Over the past three months, the stock has returned 1.3% against the industry’s decline of 3.2%.
KBR’s Engineering and Construction business segment utilizes its operational and technical excellence to provide engineering, procurement, construction and commissioning services for oil and gas, refining, petrochemicals and chemicals customers. Growing client operational expenditure is set to benefit the Engineering and Construction segment. Backlog of this segment in particular, is expected to improve in the second half of 2017 mainly due to work in consulting areas.
Analysts have become increasingly bullish on the company over the past couple of months, as the Zacks Consensus Estimate for full-year 2017 earnings trended up over the same time frame, from $1.33 to $1.42, on the back of four upward estimate revisions.
Stocks to Consider
KBR currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector are TopBuild Corp. (BLD - Free Report) , Owens Corning Inc (OC - Free Report) and Toll Brothers Inc. (TOL - Free Report) . While TopBuild and Owens Corning sport a Zacks Rank #1 (Strong Buy), Toll Brothers carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
TopBuild has a positive average earnings surprise of 10.4% for the last four quarters, having beaten estimates all through.
Owens Corning has excellent earnings beat history, having surpassed estimates every time over the trailing four quarters. It has an average positive surprise of 20.2%.
Toll Brothers has a positive average earnings surprise of 1.1% for the last four quarters, having beaten estimates twice over the last four quarters.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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KBR Secures Pre-FEED Engineering Contract From BP
KBR Inc. (KBR - Free Report) continues its award-winning spree and recently secured pre-front end engineering design (FEED) and project support services deals from BP. The company will provide pre-FEED and project support services to help BP develop Tortue/Ahmeyim field offshore Mauritania and Senegal. Revenues related to the project will be booked into backlog for the Engineering and Construction (E&C) Segment in the third quarter of 2017.
The Pre-FEED and Project Support Contract
Per the contract, KBR will provide pre-FEED and project support covering design of the subsea, offloading (FPSO) facility, inshore hub/terminal and interfaces for floating liquefied natural gas (FLNG). KBR's subsidiary Granherne has already completed the "concept phase work" for the development of the field for BP's partner, Kosmos. The recent contract is an extension of this work.
KBR will continue to aid BP and its partners to develop an LNG hub for Mauritania and Senegal. The company is expected to perform its pre-FEED work over the next six months.
Other Major Contracts
Over the past few months, some of the notable contracts secured by the Engineering and Construction segment include a contract from Sydney Desalination Plant Pty Limited and services contract by international pager products maker, International Paper (IP). Over the past three months, the stock has returned 1.3% against the industry’s decline of 3.2%.
KBR’s Engineering and Construction business segment utilizes its operational and technical excellence to provide engineering, procurement, construction and commissioning services for oil and gas, refining, petrochemicals and chemicals customers. Growing client operational expenditure is set to benefit the Engineering and Construction segment. Backlog of this segment in particular, is expected to improve in the second half of 2017 mainly due to work in consulting areas.
Analysts have become increasingly bullish on the company over the past couple of months, as the Zacks Consensus Estimate for full-year 2017 earnings trended up over the same time frame, from $1.33 to $1.42, on the back of four upward estimate revisions.
Stocks to Consider
KBR currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector are TopBuild Corp. (BLD - Free Report) , Owens Corning Inc (OC - Free Report) and Toll Brothers Inc. (TOL - Free Report) . While TopBuild and Owens Corning sport a Zacks Rank #1 (Strong Buy), Toll Brothers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TopBuild has a positive average earnings surprise of 10.4% for the last four quarters, having beaten estimates all through.
Owens Corning has excellent earnings beat history, having surpassed estimates every time over the trailing four quarters. It has an average positive surprise of 20.2%.
Toll Brothers has a positive average earnings surprise of 1.1% for the last four quarters, having beaten estimates twice over the last four quarters.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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