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KBR Wins Project Management Contract for Lobito Refinery Project
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KBR, Inc. (KBR - Free Report) recently won the Lobito Refinery Project’s management contract by Sonangol, thus, solidifying the foundation of this more than 20-year-long partnership.
Per the contract, KBR will design and construct a new 200,000bpd refinery in Lobito, Angola. The services offered will include project management of engineering, procurement and construction phase execution.
In early 2023, the company already completed the FEED phase of the project, succeeding in providing a cost-competitive design. This design met with Sonangol's business objectives, the industry’s advanced emission standards and KBR’s strategy to provide more environmentally friendly solutions.
Furthermore, the FEED design meets 2030 African and European Product Specifications, which specify 30% less river water consumption and waste-water treatment requirements, thanks to KBR's innovation in the refinery's cooling system design.
Consistent Contract Wins Bode Well
KBR’s focus on a resilient business model and efficiency-boosting initiatives has sparked its project-winning momentum. Also, the rising global importance of national security, energy security, energy transition and climate change has been acting as a major tailwind.
As of Dec 29, 2023, the total backlog (including award options of $4.4 billion) was $21.73 billion compared with $19.76 billion in 2022-end. Of the total backlog, Government Solutions booked $12.79 billion and the Sustainable Technology Solutions segment accounted for $4.55 billion.
Since the fourth quarter of 2023-end, the company announced three contract wins. Recently, on Jan 10, 2024, KBR’s blue ammonia technology was selected by Tokyo-based INPEX Corporation and Oklahoma City-based LSB Industries to support a large, commercial-scale clean ammonia production and export project in the U.S. Gulf Coast.
Furthermore, on Jan 8, its K-GreeN technology was selected by a consortium of Lotte Chemical, Korea National Oil Corp and Samsung Engineering for Lotte Chemical's H2biscus green ammonia project development in Sarawak, Malaysia.
Image Source: Zacks Investment Research
Shares of this global engineering, construction and services firm have gained 11.3% in the past three months, outperforming the Zacks Engineering - R and D Services industry’s 10% growth.
Zacks Rank & Key Picks
KBR currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
NVR delivered a trailing four-quarter earnings surprise of 8.1%, on average. The stock has gained 22.4% in the past six months. The Zacks Consensus Estimate for NVR’s 2024 sales and earnings per share (EPS) indicates growth of 7.7% and 4.6%, respectively, from the prior-year levels.
Toll Brothers, Inc. (TOL - Free Report) currently sports a Zacks Rank of 1. TOL delivered a trailing four-quarter earnings surprise of 30.2%, on average. The stock has gained 54.3% in the past six months.
The Zacks Consensus Estimate for TOL’s fiscal 2024 sales and EPS indicates growth of 0.6% and 11%, respectively, from a year ago.
Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 20.4%, on average. Shares of STRL have rallied 44.6% in the past six months.
The Zacks Consensus Estimate for STRL’s 2024 sales and EPS indicates a rise of 11.7% and 11.4%, respectively, from the prior-year levels.
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KBR Wins Project Management Contract for Lobito Refinery Project
KBR, Inc. (KBR - Free Report) recently won the Lobito Refinery Project’s management contract by Sonangol, thus, solidifying the foundation of this more than 20-year-long partnership.
Per the contract, KBR will design and construct a new 200,000bpd refinery in Lobito, Angola. The services offered will include project management of engineering, procurement and construction phase execution.
In early 2023, the company already completed the FEED phase of the project, succeeding in providing a cost-competitive design. This design met with Sonangol's business objectives, the industry’s advanced emission standards and KBR’s strategy to provide more environmentally friendly solutions.
Furthermore, the FEED design meets 2030 African and European Product Specifications, which specify 30% less river water consumption and waste-water treatment requirements, thanks to KBR's innovation in the refinery's cooling system design.
Consistent Contract Wins Bode Well
KBR’s focus on a resilient business model and efficiency-boosting initiatives has sparked its project-winning momentum. Also, the rising global importance of national security, energy security, energy transition and climate change has been acting as a major tailwind.
As of Dec 29, 2023, the total backlog (including award options of $4.4 billion) was $21.73 billion compared with $19.76 billion in 2022-end. Of the total backlog, Government Solutions booked $12.79 billion and the Sustainable Technology Solutions segment accounted for $4.55 billion.
Since the fourth quarter of 2023-end, the company announced three contract wins. Recently, on Jan 10, 2024, KBR’s blue ammonia technology was selected by Tokyo-based INPEX Corporation and Oklahoma City-based LSB Industries to support a large, commercial-scale clean ammonia production and export project in the U.S. Gulf Coast.
Furthermore, on Jan 8, its K-GreeN technology was selected by a consortium of Lotte Chemical, Korea National Oil Corp and Samsung Engineering for Lotte Chemical's H2biscus green ammonia project development in Sarawak, Malaysia.
Image Source: Zacks Investment Research
Shares of this global engineering, construction and services firm have gained 11.3% in the past three months, outperforming the Zacks Engineering - R and D Services industry’s 10% growth.
Zacks Rank & Key Picks
KBR currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
NVR, Inc. (NVR - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NVR delivered a trailing four-quarter earnings surprise of 8.1%, on average. The stock has gained 22.4% in the past six months. The Zacks Consensus Estimate for NVR’s 2024 sales and earnings per share (EPS) indicates growth of 7.7% and 4.6%, respectively, from the prior-year levels.
Toll Brothers, Inc. (TOL - Free Report) currently sports a Zacks Rank of 1. TOL delivered a trailing four-quarter earnings surprise of 30.2%, on average. The stock has gained 54.3% in the past six months.
The Zacks Consensus Estimate for TOL’s fiscal 2024 sales and EPS indicates growth of 0.6% and 11%, respectively, from a year ago.
Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 20.4%, on average. Shares of STRL have rallied 44.6% in the past six months.
The Zacks Consensus Estimate for STRL’s 2024 sales and EPS indicates a rise of 11.7% and 11.4%, respectively, from the prior-year levels.