KBR, Inc. ( KBR Quick Quote KBR - Free Report) , in conjugation with Aerodyne Industries LLC, has won a $531-million Mechanical Integrated Services and Technology (MIST) II contract from NASA. Per the contract, the joint venture (JV) will provide engineering services for new NASA missions, including design, analysis and verification; technical support for the development of space flight, airborne and ground-based instruments and equipment; along with research and technology development support. KBR and Aerodyne together will offer flight operation activities, contamination control and thermal coatings along with optics and optical systems design and analysis. This cost-plus-fixed-fee, IDIQ contract will be performed at Goddard Space Flight Center or GSFC in Greenbelt, MD, and other NASA centers. The contract has a base period of five years and an option for a six-month extension. KBR President and CEO, Stuart Bradie, said, "Together, with Aerodyne, we bring a compelling and comprehensive portfolio of expertise to propel NASA to study and explore the universe." KBR, which has been supporting NASA for more than 60 years, has earlier performed similar work under the MIST I contract. Image Source: Zacks Investment Research KBR Support to Space Operations
The company has been offering mission-critical space support services to NASA and other agencies over the past 60 years. Being one of the world's largest human spaceflight support organizations, it currently operates at 11 NASA centers and facilities.
The company offers space and mission solutions for astronaut training and health, satellite and human spaceflight ground control, mission operations, extravehicular activity support, and more. Also, it delivers real-time human spaceflight command and control 24 hours a day throughout the week. The recent work further enhanced its prominence in supporting space operations. Solid Backlog Level & Share Performance
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. The Sustainable Technology Solutions segment accounted for $2.3 billion of the total backlog.
KBR’s solid prospects are 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 comprising Government Solutions and Sustainable Technology Solutions. KBR’s shares have gained 24.1% in the year-to-date period, outperforming the Zacks Engineering - R and D Services industry’s 22.7% growth. 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 The Government Solutions business is one of the major contributing units of KBR, which shares space with AECOM ( ACM Quick Quote ACM - Free Report) , Jacobs Engineering Group Inc. ( J Quick Quote J - Free Report) and Quanta Services Inc. ( PWR Quick Quote PWR - Free Report) in the industry. The business has been riding on on-contract growth in logistics and engineering, take-away wins alongside new work awarded under the company’s portfolio of well-positioned contracting vehicles. 5 Stocks Set to Double
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