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KBR's K-GreeN Technology Selected for H2biscus Ammonia Plan
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KBR, Inc. (KBR - Free Report) is all set to provide its K-GreeN technology license and proprietary engineering design for Lotte Chemical's H2biscus green ammonia project development in Sarawak, Malaysia.
The project, which was provided by a consortium of Lotte Chemical, Korea National Oil Corp and Samsung Engineering, will produce 800 KTA of green ammonia from hydropower.
Doug Kelly, KBR’s president of technology, said, "Our green ammonia solutions and complementary technologies such as H2ACT make KBR the preferred technology licensors for major energy transition projects around the world."
The stock inched up 0.2% on Jan 8 after the news released.
Strategic Initiatives to Boost Backlog
KBR has been gaining from the rising global importance of national security, energy security, energy transition and climate change. It has been benefiting from high-end and differentiated government business work, strong margin performance, technology and consulting services.
KBR's determination to reduce emissions, diversify products, improve energy efficiency and implement more sustainable technologies and solutions have been driving its performance. Demand for the company’s technologies in ammonia for food production, olefins for non-single-use plastics and refining for product diversification, and more green solutions to meet tighter environmental standards have been going strong.
It has been working on multiple initiatives and contracts to expand its low-carbon ammonia offerings for energy transition, which is a crucial step toward global decarbonization efforts. The firm has been a world leader in ammonia technology and has been at the forefront of innovation in the same market for decades. Since 1943, the company has licensed, engineered and constructed more than 250 grassroot ammonia plants throughout the world.
As of Sep 29, 2023, the total backlog (including award options) of KBR was $21.8 billion compared with $19.76 billion at 2022-end. Of the total backlog, Government Solutions booked $12.28 billion and the Sustainable Technology Solutions segment accounted for $4.98 billion.
Image Source: Zacks Investment Research
Although shares of this Zacks Rank #4 (Sell) company have lost 12.7% in the past three months against the Zacks Engineering - R and D Services industry’s 7.4% growth, the recent contract wins are expected to have boosted its performance in the fourth quarter of 2023.
KBR’s earnings estimates for 2024 indicate 12.3% year-over-year growth. Also, it has a Growth Score of B.
Stocks to Consider
Some better-ranked stocks in the Zacks Construction sector are:
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank #1 (Strong Buy). It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with an average surprise of 35.6%. It currently carries a VGM Score of B. You can seethe complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MPTI’s 2024 EPS increased to $1.95 from $1.21 over the past 60 days.
AECOM (ACM - Free Report) presently carries a Zacks Rank of #2 (Buy). It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with a surprise of 2.1%, on average. It currently carries a VGM Score of A.
The Zacks Consensus Estimate for ACM’s 2024 EPS increased to $4.89 from $4.73 over the past 60 days.
Sterling Infrastructure, Inc. (STRL - Free Report) currently has a Zacks Rank #2. It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with a surprise of 12.2%, on average.
The 2024 EPS estimate has increased to $4.74 from $4.68 over the past 60 days. Earnings for 2024 are expected to grow 13.1%. It currently carries a VGM Score of A.
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KBR's K-GreeN Technology Selected for H2biscus Ammonia Plan
KBR, Inc. (KBR - Free Report) is all set to provide its K-GreeN technology license and proprietary engineering design for Lotte Chemical's H2biscus green ammonia project development in Sarawak, Malaysia.
The project, which was provided by a consortium of Lotte Chemical, Korea National Oil Corp and Samsung Engineering, will produce 800 KTA of green ammonia from hydropower.
Doug Kelly, KBR’s president of technology, said, "Our green ammonia solutions and complementary technologies such as H2ACT make KBR the preferred technology licensors for major energy transition projects around the world."
The stock inched up 0.2% on Jan 8 after the news released.
Strategic Initiatives to Boost Backlog
KBR has been gaining from the rising global importance of national security, energy security, energy transition and climate change. It has been benefiting from high-end and differentiated government business work, strong margin performance, technology and consulting services.
KBR's determination to reduce emissions, diversify products, improve energy efficiency and implement more sustainable technologies and solutions have been driving its performance. Demand for the company’s technologies in ammonia for food production, olefins for non-single-use plastics and refining for product diversification, and more green solutions to meet tighter environmental standards have been going strong.
It has been working on multiple initiatives and contracts to expand its low-carbon ammonia offerings for energy transition, which is a crucial step toward global decarbonization efforts. The firm has been a world leader in ammonia technology and has been at the forefront of innovation in the same market for decades. Since 1943, the company has licensed, engineered and constructed more than 250 grassroot ammonia plants throughout the world.
As of Sep 29, 2023, the total backlog (including award options) of KBR was $21.8 billion compared with $19.76 billion at 2022-end. Of the total backlog, Government Solutions booked $12.28 billion and the Sustainable Technology Solutions segment accounted for $4.98 billion.
Image Source: Zacks Investment Research
Although shares of this Zacks Rank #4 (Sell) company have lost 12.7% in the past three months against the Zacks Engineering - R and D Services industry’s 7.4% growth, the recent contract wins are expected to have boosted its performance in the fourth quarter of 2023.
KBR’s earnings estimates for 2024 indicate 12.3% year-over-year growth. Also, it has a Growth Score of B.
Stocks to Consider
Some better-ranked stocks in the Zacks Construction sector are:
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank #1 (Strong Buy). It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with an average surprise of 35.6%. It currently carries a VGM Score of B. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MPTI’s 2024 EPS increased to $1.95 from $1.21 over the past 60 days.
AECOM (ACM - Free Report) presently carries a Zacks Rank of #2 (Buy). It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with a surprise of 2.1%, on average. It currently carries a VGM Score of A.
The Zacks Consensus Estimate for ACM’s 2024 EPS increased to $4.89 from $4.73 over the past 60 days.
Sterling Infrastructure, Inc. (STRL - Free Report) currently has a Zacks Rank #2. It has topped earnings estimates in three of the trailing four quarters and missed on one occasion, with a surprise of 12.2%, on average.
The 2024 EPS estimate has increased to $4.74 from $4.68 over the past 60 days. Earnings for 2024 are expected to grow 13.1%. It currently carries a VGM Score of A.