KBR Inks Contract to Provide Advisory Services to OCI in Texas
KBR is set to provide monitoring and advisory services to OCI's integrated ammonia-methanol plant in Beaumont for three years.
KBR, Inc. KBR secured a contract to provide supervising and consulting services to OCI Beaumont’s ammonia-methanol plant in Beaumont, TX, for three years.
With the help of KBR INSITE® — a cloud-based remote plant monitoring service within its digital sustainability suite — KBR will utilize its deep domain expertise and help OCI diagnose operational problems. As per this three-year contract, KBR will also be responsible for understanding the basic causes of the problems and suggest the best remedial action to stop unplanned shutdowns and unwarranted leakages.
With respect to this, KBR's Sustainable Technology Solutions President, Jay Ibrahim, has said, “KBR INSITE aims to extend the operating life of the Beaumont plant, while helping drive carbon reduction and energy efficiency in a sustainable way. At KBR, we are fully committed to providing sustainable solutions to our clients globally, and this award from OCI is a testament of the trust that they have placed in us and our team of process experts.”
Sustainable Technology & Share Performance
KBR has a remarkable history of crafting sophisticated, digitally-enabled solutions and services for clients across the world. KBR's technologies and solutions help companies enhance performance, bring down costs and drive overall revenues, thereby boosting profitability.
KBR’s Sustainable Technology Solutions unit, accounting for 29.7% of 2020 revenues, integrates innovative, proprietary process technologies. It comprises synergistic advisory practice focused on energy transition and net-zero carbon emission consulting as well as technology-led industrial solutions that focus on innovative digital operations and maintenance solutions and advanced remote operations capabilities to improve throughput, reliability along with environmental sustainability. During second-quarter 2021, the Sustainable Technology Solutions segment accounted for $2.5 billion of the total $19.9-billion backlog.
As far as share price performance is concerned, shares of KBR shares have surged 24.5% so far this year, almost in line with the Zacks Engineering - R and D Services industry’s 24.4% rally. Notably, earnings estimates for 2021 have moved up 0.9% over the past 30 days, depicting analysts’ optimism regarding its bottom-line growth potential. On a more encouraging note, the company has a robust earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing 14 quarters. The company is benefiting from its high-end, technically differentiated businesses supporting space superiority, science and systems engineering growth.
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Zacks Rank & Other Key Picks
Currently, KBR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other top-ranked stocks in the same industry include Altair Engineering Inc. ALTR, IMI plc IMIAY and Howmet Aerospace Inc. HWM, each carrying a Zacks Rank #2.
Altair Engineering, IMI, Quanta Services and Howmet’s earnings for 2021 are expected to rise 64.5%, 20.1% and 25%, respectively.
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