KBR Wins Engineering Deal for Petrobras' Atapu & Sepia Fields

KBR, Inc. KBR has been chosen by the Seatrium Group to develop topsides facilities for two floating production storage and offloading (FPSO) units for Petrobras' Atapu and Sepia fields in the Santos Basin, Brazil.These new high-production, energy-efficient units — P-84 and P-85 — are part of Petrobras' latest generation of FPSO platforms, designed for high production capacity and energy efficiency. Each FPSO will be able to produce 225,000 barrels of oil per day and handle 10 Mm³ of gas daily, in line with Petrobras' all-electric concept. The design incorporates advanced technologies to minimize environmental impact, such as zero routine flaring, CO2 capture, and variable speed drives.KBR’s Sustainable Technology Solutions’ experts will provide detailed engineering and procurement support, enhancing the platforms' operational efficiency and sustainability.Solid 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. Notably, KBR has more than five decades of comprehensive design engineering experience in various industries.KBR remains at the forefront of pioneering decarbonization initiatives through continuous process innovation and harnessing low-carbon technologies to reduce emissions effectively.This year, KBR is celebrating 100 years of offering clean fuel solutions.KBR's Share Price PerformanceShares of this company have gained 5.2% in the past three months compared with the Zacks Engineering - R and D Services industry’s 2.9% growth. The ongoing contract wins are likely to boost its prospects in the forthcoming quarters.Image Source: Zacks Investment ResearchIn the second quarter of 2024, KBR received $2.1 billion in bookings and options in highly strategic areas, with a trailing 12-month book-to-bill of 1x. Total revenues increased 6% to $1.86 billion year over year. 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, partially offset by contraction in Readiness & Sustainment due to Ukraine funding delays.As of June 28, 2024, the total backlog (including award options of $3.332 billion) was $20.1 billion compared with $21.73 billion at 2023-end. Of the total backlog, Government Solutions booked was $12.89 billion. The Sustainable Technology Solutions segment contributed $3.92 billion to the total backlog.Backed by its solid performance in the first half and improving global demand for its services, KBR raised its adjusted earnings per share (EPS) projection to the range of $3.15-$3.30 from $3.10-$3.30 expected earlier.KBR’s EPS estimate for 2024 reflects 11.3% year-over-year growth to $3.24 on a 9% increase in revenues.KBR’s Zacks Rank & Key PicksCurrently, KBR carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the same space are:Howmet Aerospace Inc. HWM presently sports a Zacks Rank #1 (Strong Buy). HWM has a trailing four-quarter earnings surprise of 10.9%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for HWM’s 2024 sales and EPS indicates a rise of 12.6% and 39.1%, respectively, from the prior-year levels.Sterling Infrastructure, Inc. STRL presently sports a Zacks Rank #1. Sterling Infrastructure has a trailing four-quarter earnings surprise of 17.4%, on average.The Zacks Consensus Estimate for STRL’s 2024 sales and EPS indicates a rise of 9.7% and 26.6%, respectively, from the prior-year levels.Quanta Services Inc. PWR presently carries a Zacks Rank #2 (Buy). PWR has a trailing four-quarter earnings surprise of 4.6%, on average.The Zacks Consensus Estimate for PWR’s 2024 sales and EPS indicates a rise of 14.2% and 18.3%, respectively, from the prior-year levels.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 Quanta Services, Inc. (PWR): Free Stock Analysis Report KBR, Inc. (KBR): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis Report Howmet Aerospace Inc. (HWM): 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