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KBR Wins Engineering Services Contract From First State Hydrogen
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KBR, Inc. (KBR - Free Report) , a renowned name in the hydrogen market, clinched an engineering services contract with First State Hydrogen, Inc. The contract aims to bolster the feasibility and development of the inaugural clean hydrogen production facility in the U.S. mid-Atlantic region.
Under this agreement, KBR will provide engineering services crucial for evaluating the feasibility of establishing a clean hydrogen production plant. This facility, powered by electrolysis and driven by renewable energy sources, aligns with First State Hydrogen's vision of providing clean hydrogen to Delaware and the wider U.S. mid-Atlantic region. The overarching goal is to aid the region in achieving its sustainability targets.
This venture not only signifies a significant stride toward a cleaner, more sustainable world but also underscores KBR's profound expertise in clean hydrogen solutions. With decades of experience in the hydrogen domain, KBR has consistently delivered pioneering technologies and advisory services. Moreover, the company's commitment to delivering innovative project solutions amplifies its strategic stance in facilitating the energy transition.
In essence, this partnership between KBR and First State Hydrogen holds promise in fostering a greener future while catering to the escalating demand for clean energy solutions. It epitomizes KBR's unwavering dedication to spearheading advancements in the hydrogen sector and reinforces its position as a key player in driving sustainable energy initiatives forward.
Focus on Low-Carbon Offerings Bodes Well
Since 1943, KBR has licensed, engineered and constructed more than 250 grassroot ammonia plants worldwide, capturing approximately 50% of the market share of licensed capacity. The determination to lower emissions, achieve product diversification and energy efficiency and develop more sustainable technologies and solutions has been driving KBR’s performance.
Shares of this Zacks Rank #3 (Hold) company have gained 16.1% year to date (YTD) compared with the Zacks Engineering - R and D Services industry’s 16% growth. KBR’s earnings estimate for 2024 has increased to $3.20 per share from $3.18 over the past 30 days. The estimated figure reflects 10% year-over-year growth.
Image Source: Zacks Investment Research
To expand its low-carbon offerings for the energy transition, KBR has been working on multiple contracts. Recently, KBR’s Purifier ammonia technology has been ready to assist Wuhuan Engineering Co. Ltd. in the expansion of El Nasr Company’s Intermediate Chemicals' (NCIC) fertilizer complex in Egypt. With its solid project execution efforts, KBR will offer the technology license, proprietary engineering design and proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant.
In January 2024, its blue ammonia technology won a large, commercial-scale clean ammonia production and export project in the U.S. Gulf Coast. This project, provided by Tokyo-based INPEX Corporation and Oklahoma City-based LSB Industries, is designed to capture carbon while maximizing yield.
Earlier, in November 2023, the Purifier ammonia technology won a contract to support South Sumatera Province of Indonesia for the PT Pupuk Sriwidjaja Palembang’s (Pusri) planned 3B Ammonia Plant.
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.
Shares of WLDN have gained 29.5% YTD. The Zacks Consensus Estimate for WLDN’s 2024 sales and earnings per share (EPS) indicates growth of 3.9% and 3.4%, respectively, from the year-ago levels.
Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank #1. Sterling Infrastructure has a trailing four-quarter earnings surprise of 20.4%, on average. Shares of STRL have gained 21% YTD.
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.
Altair Engineering Inc. (ALTR - Free Report) currently carries a Zacks Rank #2 (Buy). ALTR delivered a trailing four-quarter earnings surprise of 107%, on average.
Shares of ALTR have gained 2.1% YTD. The Zacks Consensus Estimate for ALTR’s 2024 sales and EPS indicates growth of 8.5% and 13.3%, respectively, from the prior-year reported levels.
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KBR Wins Engineering Services Contract From First State Hydrogen
KBR, Inc. (KBR - Free Report) , a renowned name in the hydrogen market, clinched an engineering services contract with First State Hydrogen, Inc. The contract aims to bolster the feasibility and development of the inaugural clean hydrogen production facility in the U.S. mid-Atlantic region.
Under this agreement, KBR will provide engineering services crucial for evaluating the feasibility of establishing a clean hydrogen production plant. This facility, powered by electrolysis and driven by renewable energy sources, aligns with First State Hydrogen's vision of providing clean hydrogen to Delaware and the wider U.S. mid-Atlantic region. The overarching goal is to aid the region in achieving its sustainability targets.
This venture not only signifies a significant stride toward a cleaner, more sustainable world but also underscores KBR's profound expertise in clean hydrogen solutions. With decades of experience in the hydrogen domain, KBR has consistently delivered pioneering technologies and advisory services. Moreover, the company's commitment to delivering innovative project solutions amplifies its strategic stance in facilitating the energy transition.
In essence, this partnership between KBR and First State Hydrogen holds promise in fostering a greener future while catering to the escalating demand for clean energy solutions. It epitomizes KBR's unwavering dedication to spearheading advancements in the hydrogen sector and reinforces its position as a key player in driving sustainable energy initiatives forward.
Focus on Low-Carbon Offerings Bodes Well
Since 1943, KBR has licensed, engineered and constructed more than 250 grassroot ammonia plants worldwide, capturing approximately 50% of the market share of licensed capacity. The determination to lower emissions, achieve product diversification and energy efficiency and develop more sustainable technologies and solutions has been driving KBR’s performance.
Shares of this Zacks Rank #3 (Hold) company have gained 16.1% year to date (YTD) compared with the Zacks Engineering - R and D Services industry’s 16% growth. KBR’s earnings estimate for 2024 has increased to $3.20 per share from $3.18 over the past 30 days. The estimated figure reflects 10% year-over-year growth.
Image Source: Zacks Investment Research
To expand its low-carbon offerings for the energy transition, KBR has been working on multiple contracts. Recently, KBR’s Purifier ammonia technology has been ready to assist Wuhuan Engineering Co. Ltd. in the expansion of El Nasr Company’s Intermediate Chemicals' (NCIC) fertilizer complex in Egypt. With its solid project execution efforts, KBR will offer the technology license, proprietary engineering design and proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant.
In January 2024, its blue ammonia technology won a large, commercial-scale clean ammonia production and export project in the U.S. Gulf Coast. This project, provided by Tokyo-based INPEX Corporation and Oklahoma City-based LSB Industries, is designed to capture carbon while maximizing yield.
Earlier, in November 2023, the Purifier ammonia technology won a contract to support South Sumatera Province of Indonesia for the PT Pupuk Sriwidjaja Palembang’s (Pusri) planned 3B Ammonia Plant.
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.
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Willdan Group, Inc. (WLDN - Free Report) currently sports a Zacks Rank #1 (Strong Buy). WLDN delivered a trailing four-quarter average earnings surprise of a whopping 886.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of WLDN have gained 29.5% YTD. The Zacks Consensus Estimate for WLDN’s 2024 sales and earnings per share (EPS) indicates growth of 3.9% and 3.4%, respectively, from the year-ago levels.
Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank #1. Sterling Infrastructure has a trailing four-quarter earnings surprise of 20.4%, on average. Shares of STRL have gained 21% YTD.
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.
Altair Engineering Inc. (ALTR - Free Report) currently carries a Zacks Rank #2 (Buy). ALTR delivered a trailing four-quarter earnings surprise of 107%, on average.
Shares of ALTR have gained 2.1% YTD. The Zacks Consensus Estimate for ALTR’s 2024 sales and EPS indicates growth of 8.5% and 13.3%, respectively, from the prior-year reported levels.