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KBR to Supply Proprietary Modular Solution for Chronos Project
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In continuation of the licensure of its Hydro-PRT technology to LG Chem, KBR, Inc. (KBR - Free Report) has teamed up with Hyundai Engineering Company (HEC) Ltd for building a 20,000 tonnes per annum plastics recycling unit. For this, KBR will supply its leading advanced plastics recycling technology Hydro-PRT for HEC’s first modular plant that will be installed at LG Chem's Chronos Project in Dangjin, South Korea.
The Hydro-PRT process helps in the conversion of plastic wastes into raw materials for new plastics, ensuring total circularity.
In this context, KBR technology president, Doug Kelly, said, “Our proprietary modularization solutions deliver inherent cost, scalability, schedule, and safety advantages and we look forward to a successful implementation to help LG Chem accelerate attainment of its ESG objectives.”
Image Source: Zacks Investment Research
Shares of KBR have gained 0.25% on Mar 2 and 16.1% in the past six months compared with the Zacks Engineering - R and D Services industry’s growth of 23.2%.
Focus on Growth Drivers
KBR has been a leader in energy transition and has wide-ranging experience supporting sustainable energy projects worldwide. The determination to achieve lower emissions, product diversification, energy efficiency and more sustainable technologies and solutions have been driving KBR’s performance. The demand for the company’s technologies across ammonia for food production, olefins for non-single-use plastics and in refining for product diversification, and more green solutions to meet tighter environmental standards has been going strong. A strategic shift to IP-enabled maintenance is also gaining traction. KBR continues to see increasing activity across the advisory portfolio, particularly in energy transition.
Sustainable Technology Solutions (STS) revenues increased 17.3% year over year to $352 million in fourth-quarter 2022. Also, its backlog increased 71% to $4.01 billion in 2022-end compared to $2.3 billion at 2021-end. STS benefited from strong end markets, superior technology offerings and highly sought-after engineering solutions.
The company’s total backlog increased to $19.76 billion as of 2022-end from $19.71 billion at 2021-end.
KBR’s solid backlog level highlights its underlying strength, backed by a solid contract-winning spree, strong project execution and the impressive performance of its government and technology businesses.
KBR’s ammonia technology recently got selected for a large-scale one million tons per annum low-carbon ammonia facility for the region of the Gulf Cooperation Council (GCC), Middle East. It will provide basic engineering design, technology licensing and proprietary equipment along with a catalyst for the low-carbon ammonia plant.
Some better-ranked stocks in the Zacks Construction sector are:
United Rentals, Inc. (URI - Free Report) currently carries a Zacks Rank #2. Shares of URI have gained 62.5% in the past six months. The long-term earnings growth rate of the company is 16.3%.
The Zacks Consensus Estimate for URI’s 2023 sales and EPS suggests growth of 20.3% and 28.3%, respectively, from the year-ago period’s reported levels.
Sterling Infrastructure, Inc. (STRL - Free Report) currently carries a Zacks Rank #2. STRL has a trailing four-quarter earnings surprise of 19.3%, on average. Shares of the company have gained 67% in the past six months.
The Zacks Consensus Estimate for STRL’s 2023 sales suggests decline of 0.8% while EPS suggests growth of 10.8%.
Skyline Champion Corporation (SKY - Free Report) currently carries a Zacks Rank #2 (Buy). SKY has a trailing four-quarter earnings surprise of 43.2%, on average. Its shares have rallied 24.9% in the past six months.
The Zacks Consensus Estimate for SKY’s fiscal 2024 sales and EPS suggests decline of 11.7% and 37.9%, respectively, from the year-ago levels.
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KBR to Supply Proprietary Modular Solution for Chronos Project
In continuation of the licensure of its Hydro-PRT technology to LG Chem, KBR, Inc. (KBR - Free Report) has teamed up with Hyundai Engineering Company (HEC) Ltd for building a 20,000 tonnes per annum plastics recycling unit. For this, KBR will supply its leading advanced plastics recycling technology Hydro-PRT for HEC’s first modular plant that will be installed at LG Chem's Chronos Project in Dangjin, South Korea.
The Hydro-PRT process helps in the conversion of plastic wastes into raw materials for new plastics, ensuring total circularity.
In this context, KBR technology president, Doug Kelly, said, “Our proprietary modularization solutions deliver inherent cost, scalability, schedule, and safety advantages and we look forward to a successful implementation to help LG Chem accelerate attainment of its ESG objectives.”
Image Source: Zacks Investment Research
Shares of KBR have gained 0.25% on Mar 2 and 16.1% in the past six months compared with the Zacks Engineering - R and D Services industry’s growth of 23.2%.
Focus on Growth Drivers
KBR has been a leader in energy transition and has wide-ranging experience supporting sustainable energy projects worldwide. The determination to achieve lower emissions, product diversification, energy efficiency and more sustainable technologies and solutions have been driving KBR’s performance. The demand for the company’s technologies across ammonia for food production, olefins for non-single-use plastics and in refining for product diversification, and more green solutions to meet tighter environmental standards has been going strong. A strategic shift to IP-enabled maintenance is also gaining traction. KBR continues to see increasing activity across the advisory portfolio, particularly in energy transition.
Sustainable Technology Solutions (STS) revenues increased 17.3% year over year to $352 million in fourth-quarter 2022. Also, its backlog increased 71% to $4.01 billion in 2022-end compared to $2.3 billion at 2021-end. STS benefited from strong end markets, superior technology offerings and highly sought-after engineering solutions.
The company’s total backlog increased to $19.76 billion as of 2022-end from $19.71 billion at 2021-end.
KBR’s solid backlog level highlights its underlying strength, backed by a solid contract-winning spree, strong project execution and the impressive performance of its government and technology businesses.
KBR’s ammonia technology recently got selected for a large-scale one million tons per annum low-carbon ammonia facility for the region of the Gulf Cooperation Council (GCC), Middle East. It will provide basic engineering design, technology licensing and proprietary equipment along with a catalyst for the low-carbon ammonia plant.
Zacks Rank & Key Picks
KBR currently 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 in the Zacks Construction sector are:
United Rentals, Inc. (URI - Free Report) currently carries a Zacks Rank #2. Shares of URI have gained 62.5% in the past six months. The long-term earnings growth rate of the company is 16.3%.
The Zacks Consensus Estimate for URI’s 2023 sales and EPS suggests growth of 20.3% and 28.3%, respectively, from the year-ago period’s reported levels.
Sterling Infrastructure, Inc. (STRL - Free Report) currently carries a Zacks Rank #2. STRL has a trailing four-quarter earnings surprise of 19.3%, on average. Shares of the company have gained 67% in the past six months.
The Zacks Consensus Estimate for STRL’s 2023 sales suggests decline of 0.8% while EPS suggests growth of 10.8%.
Skyline Champion Corporation (SKY - Free Report) currently carries a Zacks Rank #2 (Buy). SKY has a trailing four-quarter earnings surprise of 43.2%, on average. Its shares have rallied 24.9% in the past six months.
The Zacks Consensus Estimate for SKY’s fiscal 2024 sales and EPS suggests decline of 11.7% and 37.9%, respectively, from the year-ago levels.