KBR Inc. (KBR) recently received a contract from Bell Helicopter for the construction of a new facility at Lafayette, LA. This new 82,300-square-foot hangar will be built on a 14.5 acre site and will be primarily used for the assembly of Bell Helicopter’s newest commercial helicopter, the Bell 505 Jet Ranger XTM. The financial details of the contract have been kept under wraps.
The construction of this facility is expected to be completed by Jun 2015 and the assembly operations are scheduled to commence by 2016, after required sanction certification of the facility and the aircraft. KBR expects this contract to be included in the fourth quarter of fiscal 2014 backlog under unfilled orders of the Services segment.
KBR’s Services segment offers full-scope construction, construction management, fabrication, operations/ maintenance, commissioning/ startup and turnaround expertise to a broad variety of markets including oil and gas, petrochemicals processing, mining, power, alternate energy, pulp and paper, industrial and manufacturing and consumer product industries. The services offered are organized around four major product lines: U.S. Construction, Industrial Services, Building Group and Canada Operations.
In the third quarter, the Services segment reported a revenue decline of 12.9% year over year to $405 million. The company’s Canada-based pipe fabrication and module assembly projects reported stable financial numbers in the quarter, as against losses incurred in the past year.
KBR currently carries a Zacks Rank #3 (Hold). Better-ranked stocks that can be considered at the moment include Progressive Waste Solutions Ltd. (BIN), Pernix Group Inc (PRXG) and Heritage-Crystal Clean, Inc. (HCCI). While Progressive Waste Solutions sports a Zacks Rank #1 (Strong Buy), both Pernix Group and Heritage-Crystal Clean carry a Zacks Ranks #2 (Buy).
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