Yahoo Finance KBR's K-Green Technology Selected for a Grassroots Project
KBR, Inc.’s KBR K-GreeN technology has been chosen by Avina Clean Hydrogen for its green ammonia project in the United States. Per the contract, KBR will provide its process technology license and engineering design to produce 2,200 metric tons per day of green ammonia, designed for a grassroots project.
The process design of KBR comprises a fully consolidated plant that offers electrolysis of water and air separation along with ammonia synthesis, guaranteeing ammonia performance.
Pertaining to the contract, KBR technology president, Doug Kelly said, “This project underscores that green ammonia can be produced economically at commercial scale and we look forward to working closely with Avina to ensure a successful implementation.”
The share price of KBR declined 1.27% during the trading session on Apr 4 but increased 0.64% in the after-hours trading session.
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 has been driving KBR’s performance. The demand for the company’s technologies in ammonia for food production, olefins for non-single-use plastics, refining for product diversification, and 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.
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Shares of KBR have gained 17.3% in the past six months compared with the Zacks Engineering - R and D Services industry’s growth of 21.2%. Yet, 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.
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.
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The Zacks Consensus Estimate for CRH’s 2023 sales and EPS indicates growth of 6% and 6.6%, respectively, from the previous year’s reported levels.
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The Zacks Consensus Estimate for URI’s 2023 sales and EPS indicates growth of 20.8% and 29.5%, respectively, from the previous year’s reported levels.
AECOM ACM currently carries a Zacks Rank #2. ACM has a trailing four-quarter earnings surprise of 5.2%, on average. Shares of the company have gained 11.8% in the past six months.
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