KBR on Contract Wining Spree, Secures Deal From Italmatch
KBR, Inc.’s KBR Technology Solutions business has been rallying lately, courtesy of continuous focus on project execution. The company’s ongoing contract wins bear testimony to the fact. Recently, KBR received a contract for its PLINKE Hydrochloric Acid Purification technologies from Italmatch Deutschland GmbH for its phosphorous acid production plant in Frankfurt, Germany.
Per the deal, KBR will provide technology license, basic and detailed engineering, proprietary equipment and related advisory services to Italmatch for the production of phosphoric acid, along with absorption and recovery of hydrochloric acid.
Having more than 70 years of experience in PLINKE acid treatment, KBR has constructed more than 550 plants for treatment and concentration of inorganic acids and acidic waste water worldwide.
Solid Technology Contracts Bode Well
Recently, KBR received a contract from Shenghong Refining Petrochemical (Lian Yun Gang) Co. Ltd., China to provide Vinyl Acetate Monomer (VAM) technology. Moreover, the pact between KBR and Showa Denko K.K. has secured the first commercial VAM technology license.
Also, the company announced its integration with Chevron Lummus Global’s LC-MAX technology to support Hindustan Petroleum Corporation Limited’s modernization project at the Visakh refinery in India.
For the Technology Solutions segment, this Zacks Rank #3 (Hold) company expects thriving global technology opportunities — led by ammonia, refining and olefins projects — to persist. The Technology Solutions segment recorded 48%, 29% and 19% organic growth in the first, the second and third quarters of 2019, respectively. The results were primarily backed by strong execution across its chemical, petrochemical, refining and ammonia projects, as well as higher proprietary equipment sales. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Backed by underlying strength of the business, KBR shares have gained 99.4% so far this year, outperforming its industry’s 25.6% rally. The company’s solid performance is backed by an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing seven quarters. In fact, KBR — which shares space with AECOM ACM, Jacobs Engineering Group Inc. JEC and Fluor Corporation FLR in the industry — recorded the 11th consecutive quarter of strong revenues, earnings and cash flow, and an impressive year-over-year backlog growth in third-quarter 2019.
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