KBR's Energy Solutions Unit Wins Consultancy Services Work

By Zacks Investment ResearchStock MarketsMar 16, 2020 09:46PM ET

www.investing.com/analysis/kbrs-energy-solutions-unit-wins-consultancy-services-work-200516706

KBR's Energy Solutions Unit Wins Consultancy Services Work

By Zacks Investment Research | Mar 16, 2020 09:46PM ET

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KBR, Inc. (NYSE:KBR) has won a Heating Systems Energy Efficiency Study work from the National Environment Agency (“NEA”) of Singapore to provide consultancy services on energy efficiency.

Per the contract, KBR, via its Energy Solutions unit, will help energy intensive industrial facilities to study the energy performance of heating systems. Also, it will develop a best practice guide for the oil refining, petrochemical and chemical sub-sectors. Notably, the project will be primarily executed from its consulting hub, located in Singapore.

Energy Solutions’ Prospects Look Good

The company’s recurring revenue services business — contributing nearly 24% to 2019 revenues — is experiencing solid top-line growth. The company’s consulting business is also experiencing increased activity since the past few quarters on the back of more efficient reutilization and strong pricing environment.

Recently, the company got certified as an Energy Service Company or ESCO in Singapore to serve industrial facilities with energy optimization services. This will enhance KBR’s strengths in feasibility studies and detailed engineering designs.

In 2019, Energy Solutions segment’s revenues increased 16% courtesy of the ramp up of cost-reimbursable projects that include a brownfield revamp refinery project in the U.S. Gulf Coast, a crude terminal expansion project in the Permian Basin and a Greenfield methanol project in Louisiana.

For 2020, the company expects healthy balance between energy and government projects. However, the recent coronavirus outbreak has put pressure on overall economy. The company anticipates lower LNG activity due to Covid-19 woes.

Shares of the company have also witnessed a downfall in the year to date period. The stock has plunged 53.8% so far this year compared with the industry’s 36.6% fall. Estimates for 2020 have also moved south in the past 30 days, reflecting analysts’ concern over the company’s earnings growth potential.

Zacks Rank

KBR — which shares space with Gates Industrial Corporation plc (NYSE:GTES) , Quanta Services, Inc. (NYSE:PWR) and AECOM (NYSE:ACM) in the same industry — currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

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.

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Quanta Services, Inc. (PWR): Free Stock Analysis Report

AECOM (ACM): Free Stock Analysis Report

KBR, Inc. (KBR): Free Stock Analysis Report

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KBR's Energy Solutions Unit Wins Consultancy Services Work

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