J.P. Morgan Takeaways From ES Management Meetings

J.P. Morgan recently met with members of EnergySolutions, Inc.'s ES senior management team, including CEO & President Val Christensen, CFO Bill Benz, and Director of Investor Relations John Rasmussen. “ES highlighted the benefit of a more collaborative strategy that it expects to generate additional business over the next few years,” J.P. Morgan writes. “ES is forging relationships with other E&Cs to pursue DOE work on a Tier 1 non-lead and Tier 2 basis within its Federal segment, which it expects to result in increased win rates over time. “Management is also looking to diversify its federal business beyond its traditional focus on nuclear clean-up work to include work for the US Navy and EPA. ES also highlighted a recent partnership with the US division of Swedish nuclear services firm Studsvik to dispose of radioactive resins as evidence of its recent emphasis on collaboration with traditional competitors in order to drive new business opportunities.” EnergySolutions closed Thursday at $5.66.