KBR Boosts Backlog With New Contract Win From ZPC in China

KBR, Inc.’s KBR ROSE supercritical Solvent De-Asphalting technology has been chosen by Zhejiang Petroleum & Chemical Co. Ltd. (“ZPC”), a subsidiary of Rongsheng Petrochemical Co. Ltd. in China.Per the contract, KBR will be offering technology licensing and proprietary engineering design to ZPC, intended to upgrade the latter’s residue conversion for higher profitability and operational sustainability.KBR’s ROSE is an innovative supercritical extraction technology designed for safe start-up and reliable performance, significantly improving the carbon footprint for refiners. This efficient and simple process will help ZPC in achieving its desired relatable goals.KBR’s Contract Winning SpreeKBR’s focus on a resilient business model and efficiency-boosting initiatives have 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.The company’s solid backlog and option level of $20.1 billion at the fiscal second-quarter 2024 end highlight its underlying strength. KBR received $2.1 billion in bookings and options in highly strategic areas with a trailing 12-month book-to-bill of 1x. The upside was backed by growth across Sustainable Technology Solutions as well as the Government Solutions’ new and on-contract growth across International, Defense & Intel and Science and Space.Image Source: Zacks Investment ResearchKBR’s shares have gained 11% in the year-to-date period compared with the Zacks Engineering - R and D Services industry’s 23.1% growth. Although shares of the company have underperformed its industry, new and on-contract growth across its Government Solutions businesses and increased demand for sustainable services and technology are likely to be beneficial in the upcoming period.Going forward, KBR expects broad-based growth across both segments. Primary growth drivers include high-end and differentiated government business work, strong margin performance and technology and consulting business.KBR’s Zacks Rank & Key PicksKBR currently carries a Zacks Rank #3 (Hold).Here are some better-ranked stocks from the Construction sector.Comfort Systems USA, Inc. FIX currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.FIX delivered a trailing four-quarter earnings surprise of 20.6%, on average. The stock has risen 64.4% in the past year. The Zacks Consensus Estimate for FIX’s 2024 sales and earnings per share (EPS) indicates growth of 29.4% and 57.8%, respectively, from the prior-year levels.Sterling Infrastructure, Inc. STRL currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 17.4%, on average. Shares of STRL gained 42% in the past year.The consensus estimate for STRL’s 2024 sales and EPS implies an increase of 9.7% and 26.6%, respectively, from the prior-year levels.Frontdoor, Inc. FTDR presently sports a Zacks Rank of 1. FTDR delivered a trailing four-quarter earnings surprise of 279%, on average. The stock has gained 47.7% in the past year.The Zacks Consensus Estimate for FTDR’s 2024 sales and EPS indicates an increase of 3% and 18.7%, respectively, from a year ago.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KBR, Inc. (KBR): Free Stock Analysis Report Comfort Systems USA, Inc. (FIX): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis Report Frontdoor Inc. (FTDR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks