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KBR's Blue Ammonia Technology Selected for INPEX & LSB Plant
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KBR, Inc.’s (KBR - Free Report) blue ammonia technology is set to support a large, commercial-scale clean ammonia production and export project in the US Gulf Coast.
Per the deal, KBR will provide technology licensing and proprietary engineering design for a 1.1 million tonnes per annum ammonia plant. This project, provided by Tokyo-based INPEX Corporation and Oklahoma City-based LSB Industries, is designed to capture carbon while maximizing yield.
The stock inched up 1.4% on Jan 9 after the news release.
KBR’s commitment to providing sustainable solutions to meet evolving market needs while helping clients realize their decarbonization goals bodes well.
Strategic Initiatives to Boost Backlog
The company 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 declined 10.8% in the past three months against the Zacks Engineering - R and D Services industry’s 8% growth, the recent contract wins are expected to have boosted its performance in the fourth quarter of 2023.
KBR’s earnings estimate for 2024 reflects 12.3% year-over-year growth. Also, it has a Growth Score of B.
Key Picks
Some better-ranked stocks in the Zacks Construction sector are:
Dream Finders Homes’ earnings per share (EPS) estimates for 2024 have increased to $2.81 from $2.62 over the past 30 days. This Jacksonville, FL-based homebuilder has been benefiting from the strategy of focusing on managing construction times and increasing inventory turnover.
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 carries 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 Blue Ammonia Technology Selected for INPEX & LSB Plant
KBR, Inc.’s (KBR - Free Report) blue ammonia technology is set to support a large, commercial-scale clean ammonia production and export project in the US Gulf Coast.
Per the deal, KBR will provide technology licensing and proprietary engineering design for a 1.1 million tonnes per annum ammonia plant. This project, provided by Tokyo-based INPEX Corporation and Oklahoma City-based LSB Industries, is designed to capture carbon while maximizing yield.
The stock inched up 1.4% on Jan 9 after the news release.
KBR’s commitment to providing sustainable solutions to meet evolving market needs while helping clients realize their decarbonization goals bodes well.
Strategic Initiatives to Boost Backlog
The company 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 declined 10.8% in the past three months against the Zacks Engineering - R and D Services industry’s 8% growth, the recent contract wins are expected to have boosted its performance in the fourth quarter of 2023.
KBR’s earnings estimate for 2024 reflects 12.3% year-over-year growth. Also, it has a Growth Score of B.
Key Picks
Some better-ranked stocks in the Zacks Construction sector are:
Dream Finders Homes, Inc. (DFH - Free Report) : DFH currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dream Finders Homes’ earnings per share (EPS) estimates for 2024 have increased to $2.81 from $2.62 over the past 30 days. This Jacksonville, FL-based homebuilder has been benefiting from the strategy of focusing on managing construction times and increasing inventory turnover.
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 carries 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.