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, Inc. (KBR - Free Report) has secured as many as eight awards in the ASTRO program, sponsored by the U.S. Department of Defense (“DoD”).
Its shares gained 0.09% during the trading session and 1.31% during the after-hours trading session on Dec 14.
The multiple-award, indefinite delivery/indefinite quantity (IDIQ) contract has no specific ceiling value. That said, it is expected to have a multi-billion-dollar budget over its potential 10-year ordering period.
Related to the contract, KBR President and CEOStuart Bradie said, "KBR is excited to continue to support the Department of Defense, particularly its combatant commands, through the ASTRO contract."
He further added, "The number of pools awarded to KBR shows the depth and breadth of our global expertise and the evolution of our business to address new and emerging threats with innovative solutions."
Managed by the General Services Administration or GSA’s Federal Systems Integration and Management Center, the ASTRO program now focuses on providing the DoD with technology, products, solutions, and capabilities across all domains as the Department operationalizes convergence.
With these GSA ASTRO awards, KBR will act as a prime contractor in eight areas comprising data operations, mission operations, ground, space, development and systems integration, research, support, and training.
Focus on Government Projects Bodes Well
The company’s Government Solutions unit has been performing pretty well. Presently, KBR is banking on the strength of the said business to optimize growth potential. The performance of the particular business is exceeding market expectation, which is adding to KBR’s bliss.
Higher tasking for various missile defense and other military priorities in its engineering business areas, under select IDIQ contracts, also led to the upside. Further, KBR expects growth across all key markets in the United States, U.K. and Australia, driven by continued opportunities across the lifecycle of projects. For the Government Solution business, the book to bill was 1.2 for 2020 compared with 1.1 in 2019.
As of Sep 30, 2021, total backlog was $14.76 billion compared with $15 billion at 2020-end. Of the total backlog, Government Solutions booked $12.45 billion. The Sustainable Technology Solutions segment accounted for $2.31 billion of the total backlog.
KBR’s shares have gained 45.5% in the year-to-date period, outperforming the Zacks Engineering - R and D Services industry’s 30.4% rally. KBR’s solid prospects are backed by continuous contract wins, strong project execution, backlog level, and potential government as well as technology businesses.
Some Better-Ranked Stocks From the Broader Construction Sector
Beazer Homes USA, Inc. (BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from strong operational execution and continued strength in the housing market.
Beazer Homes has gained 43.5% year to date (YTD). Earnings are expected to grow 23.7% in fiscal 2022.
Meritage Homes Corporation (MTH - Free Report) currently sports a Zacks Rank #1. Based in Scottsdale, AZ, Meritage Homes is one of the leading designers and builders of single-family homes. Its focus on entry-level LiVE.NOW homes has been a major driving factor.
Meritage Homes has gained 38.9% YTD. Earnings are expected to grow 74.4% in 2021 and 22.2% in the next.
TRI Pointe Group Inc. (TPH - Free Report) currently carries a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing as well as improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe has gained 54.5% YTD. Earnings for 2021 and 2022 are expected to grow 80.2% and 9.6%, respectively.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
KBR Wins Eight GSA's ASTRO Contract Awards, Boosts Backlog
KBR, Inc. (KBR - Free Report) has secured as many as eight awards in the ASTRO program, sponsored by the U.S. Department of Defense (“DoD”).
Its shares gained 0.09% during the trading session and 1.31% during the after-hours trading session on Dec 14.
The multiple-award, indefinite delivery/indefinite quantity (IDIQ) contract has no specific ceiling value. That said, it is expected to have a multi-billion-dollar budget over its potential 10-year ordering period.
Related to the contract, KBR President and CEOStuart Bradie said, "KBR is excited to continue to support the Department of Defense, particularly its combatant commands, through the ASTRO contract."
He further added, "The number of pools awarded to KBR shows the depth and breadth of our global expertise and the evolution of our business to address new and emerging threats with innovative solutions."
Managed by the General Services Administration or GSA’s Federal Systems Integration and Management Center, the ASTRO program now focuses on providing the DoD with technology, products, solutions, and capabilities across all domains as the Department operationalizes convergence.
With these GSA ASTRO awards, KBR will act as a prime contractor in eight areas comprising data operations, mission operations, ground, space, development and systems integration, research, support, and training.
Focus on Government Projects Bodes Well
The company’s Government Solutions unit has been performing pretty well. Presently, KBR is banking on the strength of the said business to optimize growth potential. The performance of the particular business is exceeding market expectation, which is adding to KBR’s bliss.
Higher tasking for various missile defense and other military priorities in its engineering business areas, under select IDIQ contracts, also led to the upside. Further, KBR expects growth across all key markets in the United States, U.K. and Australia, driven by continued opportunities across the lifecycle of projects. For the Government Solution business, the book to bill was 1.2 for 2020 compared with 1.1 in 2019.
As of Sep 30, 2021, total backlog was $14.76 billion compared with $15 billion at 2020-end. Of the total backlog, Government Solutions booked $12.45 billion. The Sustainable Technology Solutions segment accounted for $2.31 billion of the total backlog.
KBR’s shares have gained 45.5% in the year-to-date period, outperforming the Zacks Engineering - R and D Services industry’s 30.4% rally. KBR’s solid prospects are backed by continuous contract wins, strong project execution, backlog level, and potential government as well as technology businesses.
Zacks Rank
Currently, KBR carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some Better-Ranked Stocks From the Broader Construction Sector
Beazer Homes USA, Inc. (BZH - Free Report) currently sports a Zacks Rank #1. This Atlanta-based homebuilder continues to gain from strong operational execution and continued strength in the housing market.
Beazer Homes has gained 43.5% year to date (YTD). Earnings are expected to grow 23.7% in fiscal 2022.
Meritage Homes Corporation (MTH - Free Report) currently sports a Zacks Rank #1. Based in Scottsdale, AZ, Meritage Homes is one of the leading designers and builders of single-family homes. Its focus on entry-level LiVE.NOW homes has been a major driving factor.
Meritage Homes has gained 38.9% YTD. Earnings are expected to grow 74.4% in 2021 and 22.2% in the next.
TRI Pointe Group Inc. (TPH - Free Report) currently carries a Zacks Rank #1. This Irvine, CA-based homebuilder designs, constructs, and sells single-family detached and attached homes in the United States. Robust demand and pricing as well as improved operating leverage have been driving TRI Pointe's performance. Cost-cutting initiatives implemented earlier this year and focus on entry-level buyers have been adding to the positives.
TRI Pointe has gained 54.5% YTD. Earnings for 2021 and 2022 are expected to grow 80.2% and 9.6%, respectively.