Chicago Bridge & Iron (CBI) recently received three separate contracts. The first contract was awarded by an affiliate of Calpine Corp. for the initial development phase of a 760 megawatt combined-cycle gas turbine power station in Peach Bottom Township, PA. The financial details of the contract have been kept under wraps.
Meanwhile, on the same day, the company received another deal worth $40 million from Coffeyville Resources Refining & Marketing LLC. Per this contract, CBI is required to provide engineering, procurement, fabrication and field construction services for a hydrogen plant at Coffeyville’s refinery in Kansas. This facility will have a daily production capacity of 22 million standard cubic feet of hydrogen. However, the news had no impact on the investors and the stock price remained steady.
In addition, on Nov 10, CBI received a contract valued over $100 million from Arizona Public Service. The scope of this contract requires CBI to provide maintenance and modification services to all the fossil power generation facilities in Arizona and New Mexico. CBI is among the world’s leading integrated engineering, procurement and construction service providers and process technology licensors, offering comprehensive solutions to customers, primarily in the energy and natural resource industries.
CBI is among the world’s leading integrated engineering, procurement and construction service providers and process technology licensors, offering comprehensive solutions to customers, primarily in the energy and natural resource industries.
CBI currently has 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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