We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
KBR Inks Ethylene Technology Deal From Hyundai, Boosts SCORE
Read MoreHide Full Article
KBR, Inc. (KBR - Free Report) has won an ethylene technology licensing contract from Hyundai Engineering and Tecnicas Reunidas to support PKN ORLEN's Petrochemical Development Program located in Plock, Poland. PKN ORLEN's Olefins Complex III Project is the largest petrochemical project in Europe's 20 years history.
Per the contract, KBR will offer technology license, basic engineering design and proprietary equipment services for industry-leading Selective Cracking Optimum Recovery (SCORE) technology. SCORE delivers highest yields and operational flexibility, while minimizing carbon footprint.
Sustainable Technology Business a Boon for KBR
Over the past 50 years, KBR has been leading the olefins technology market. It has licensed more than 100 grassroot ethylene plants utilizing cost-effective and energy-efficient cracking technologies to produce ethylene, propylene as well as other valuable byproducts from a variety of feedstocks.
Additionally, the 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.
Overall, it has been driving growth by focusing on lowering emissions, product diversification, energy efficiency, and more sustainable technologies as well as solutions. Demand for the company’s technologies across ammonia for food productions, olefins for non-single-use plastics, and in refining for product diversification and more green solutions to meet tighter environmental standards has been strong. A strategic shift to IP-enabled maintenance is gaining traction and 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 — continues to see increasing activity across the advisory portfolio, particularly in energy transition.
Image Source: Zacks Investment Research
Solid Backlog Level & Share Performance
As of Jun 30, 2021, total backlog was $19.9 billion compared with $19 billion at 2020-end. Of the total backlog, Government Solutions booked $12.4 billion. The Sustainable Technology Solutions segment accounted for $2.5 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. KBR’s shares have gained 22.4% in the year-to-date period, marginally outperforming the Zacks Engineering - R and D Services industry’s 22% growth.
Image: Bigstock
KBR Inks Ethylene Technology Deal From Hyundai, Boosts SCORE
KBR, Inc. (KBR - Free Report) has won an ethylene technology licensing contract from Hyundai Engineering and Tecnicas Reunidas to support PKN ORLEN's Petrochemical Development Program located in Plock, Poland. PKN ORLEN's Olefins Complex III Project is the largest petrochemical project in Europe's 20 years history.
Per the contract, KBR will offer technology license, basic engineering design and proprietary equipment services for industry-leading Selective Cracking Optimum Recovery (SCORE) technology. SCORE delivers highest yields and operational flexibility, while minimizing carbon footprint.
Sustainable Technology Business a Boon for KBR
Over the past 50 years, KBR has been leading the olefins technology market. It has licensed more than 100 grassroot ethylene plants utilizing cost-effective and energy-efficient cracking technologies to produce ethylene, propylene as well as other valuable byproducts from a variety of feedstocks.
Additionally, the 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.
Overall, it has been driving growth by focusing on lowering emissions, product diversification, energy efficiency, and more sustainable technologies as well as solutions. Demand for the company’s technologies across ammonia for food productions, olefins for non-single-use plastics, and in refining for product diversification and more green solutions to meet tighter environmental standards has been strong. A strategic shift to IP-enabled maintenance is gaining traction and 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 — continues to see increasing activity across the advisory portfolio, particularly in energy transition.
Image Source: Zacks Investment Research
Solid Backlog Level & Share Performance
As of Jun 30, 2021, total backlog was $19.9 billion compared with $19 billion at 2020-end. Of the total backlog, Government Solutions booked $12.4 billion. The Sustainable Technology Solutions segment accounted for $2.5 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. KBR’s shares have gained 22.4% in the year-to-date period, marginally outperforming the Zacks Engineering - R and D Services industry’s 22% growth.
The Zacks Consensus Estimate for the Zacks Rank #2 (Buy) company’s 2021 earnings indicates a 23.7% increase from 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.