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KBR to Serve IFCo's Ammonia Plant With INSITE Advisory Services

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KBR, Inc. (KBR - Free Report) has won a three-year INSITE monitoring and advisory services contract from Iowa Fertilizer Company (IFCo). Per the deal, KBR’s industry leading technology — INSITE — will proactively monitor IFCo's ammonia plant operations via utilizing its deep domain expertise to identify operational problems, determine probable root causes, and recommend corrective measures to avoid abnormal events like unplanned shutdowns as well as unnecessary emissions.

KBR’s Sustainable Technology Solutions’ President, Jay Ibrahim, said, "We are excited to be a part of IFCo's commitment towards a sustainable and zero-carbon future and will do our part by providing continuous improvement of all key aspects of their fertilizer plant operations."

INSITE — part of KBR's Digital Sustainability Suite — is a cloud-based, remote accessing service that monitors plant process performance and the health of critical equipment. It uses a combination of futuristic web-enabled visualization dashboards and advanced mathematical algorithms in order to observe, track as well as analyze operational parameters and key performance indicators or KPIs that may impact overall efficiency and productivity of the plant.

INSITE aims at extending operating life of the IFCo plant, located at Wever, IA, in a sustainable and profitable way, while remaining fully committed to maintaining safe and healthy operations.

Solid Backlog Level & Share Performance

KBR’s solid performance is backed by continuous contract wins, strong project execution, backlog level, and potential government as well as technology businesses. Effective Jan 1, 2021, it implemented a strategic change and transitioned from a three-core business segment model to a two-core business segment model comprised of Government Solutions and Sustainable Technology Solutions.

The Sustainable Technology Solutions segment — comprising 20.3% of the company’s total revenues — includes Energy Solutions, Technology Solutions and Non-strategic Business segments. This segment is anchored by innovative, proprietary process technologies.

KBR’s best-in-class technologies have been designing and building end-to-end, sophisticated, digitalization solutions as well as services for clients across the world. This includes high-fidelity operator training simulators, reliability-based maintenance solutions, dynamic simulation solutions, advanced process control solutions and more. These notable digitalized technologies and solutions allow companies to increase efficiency and productivity, reduce costs as well as create opportunities for generating higher revenues and profitability.

As of Mar 31, 2021, total backlog was $14.6 billion compared with $15.1 billion at 2020-end. Of the total backlog, Government Solutions booked $12.3 billion. Sustainable Technology Solutions segment accounted for $2.3 billion of the total backlog.

Zacks Investment ResearchImage Source: Zacks Investment Research

In May, KBR inked a contract from BUA Group — one of the leading agricultural and industrial chemicals conglomerates — to provide efficient and sustainable engineering solutions. With this contract, KBR — which shares space with AECOM (ACM - Free Report) , Jacobs Engineering Group Inc. (J - Free Report) and Quanta Services Inc. (PWR - Free Report) in the Zacks Engineering - R and D Services industry —  will accomplish Front-End Engineering Design or FEED for BUA Group's refinery facility in Nigeria.

KBR’s shares have surged 22.1% in the past three months compared with the industry’s 9.2% growth. Also, earnings estimates for 2021 have moved up 0.5% over the past 60 days, depicting analysts' optimism over bottom-line growth potential. The Zacks Consensus Estimate for the Zacks Rank #3 (Hold) company’s 2021 earnings indicates a 22% increase from 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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