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KBR Wins Engineering Services Contract, Aids Technology Unit

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KBR, Inc. (KBR - Free Report) has won an engineering services contract from the Alliance for Sustainable Energy, LLC to support the National Renewable Energy Laboratory’s (NREL) mission of identifying, developing, and evaluating alternative energy R&D.

Retaining its position as a leader in the sustainable biofuels arena, KBR will leverage its global sustainable technology expertise and the U.S. Department of Energy’s goal of reducing greenhouse gas emissions and carbon footprint.

KBR’s Technology Solutions business will deliver engineering design evaluation and cost analysis for various NREL's biofuel and biorefinery projects.

NREL specializes in the research and development of renewable energy, energy efficiency, energy systems integration as well as sustainable transportation. The Alliance for Sustainable Energy is the managing and operating contractor of NREL.

Technology Business, a Boon for KBR

The Technology Solutions segment integrates proprietary KBR technologies, knowledge-based services and the company’s three specialty consulting brands — Granherne, Energo and GVA — under a sole customer-centric business across the world.

KBR, with focus on climate change, has developed and/or designed several sustainable as well as renewable fuel projects across the globe over the past decade.

Its shares have surged 28.1% in the past three months compared with the industry’s 19.2% rally. The company’s performance was backed by solid contract winning spree, strong project execution, backlog level, and potential government and technology businesses. On a further encouraging note, it has a robust earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing 12 quarters.

The Zacks Consensus Estimate for the Zacks Rank #3 (Hold) company’s 2021 earnings indicates a 21.4% increase from 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Picks

Some better-ranked stocks in the same industry include Jacobs Engineering Group Inc. (J - Free Report) , Mayville Engineering Company, Inc. (MEC - Free Report) and Altair Engineering Inc. (ALTR - Free Report) , each holding a Zacks Rank #2 (Buy).

Mayville Engineering delivered an average earnings surprise of 23.5% in the last four quarters.

Jacobs and Altair expect to witness 5.8% and 45.2% earnings growth in the next year, respectively.

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