KBR, Inc. - KBR STOCK NEWS

KBR reported strong Q3 2024 financial results with revenue reaching $1.9 billion, up 10% year-over-year. Net income was $100 million, with Adjusted EBITDA of $219 million, up 18%. The company secured $3.3 billion in new bookings with a 1.2x book-to-bill ratio. Notable achievements include the strategic acquisition of LinQuest and multiple contract wins in both Government Solutions and Sustainable Technology Solutions segments. Based on strong performance, KBR raised its 2024 guidance, projecting revenue of $7.5B-$7.7B and Adjusted EBITDA of $840M-$870M.

KBR has released its 2023 Sustainability and Corporate Responsibility Report, showcasing significant progress in sustainability across its operations. The report highlights KBR's commitment to delivering sustainability-focused solutions and putting people first.

Key achievements include:

• 37% sustainability-driven revenue in 2023, totaling $2.5 billion
• Industry-leading health and safety milestones, with 93% incident-free days and a global total recordable incident rate of 0.064
• AAA ESG rating from MSCI and a Gold Sustainability Rating from Ecovadis
• Recognition as one of America's Climate Leaders by USA Today
• Certification as a Great Place to Work® in multiple countries
• Enhanced inclusion and diversity efforts through partnerships and the launch of new employee resource groups

KBR President and CEO Stuart Bradie emphasized the company's focus on creating a safer, more secure, and sustainable world while prioritizing ethical practices and employee well-being.

KBR (NYSE: KBR) has announced a regular quarterly dividend of $0.15 per share on its common stock. The dividend will be paid on January 15, 2025, to stockholders of record as of December 13, 2024. This declaration by KBR's Board of Directors demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments.

KBR (NYSE: KBR) has been awarded an engineering and procurement services contract for the Beachfield Manatee upgrade, part of Shell's Manatee gas field project in Trinidad and Tobago. This follows KBR's successful delivery of front-end engineering design for the entire Manatee project.

The Manatee gas field, located in the East Coast Marine Area, supports global energy security and natural gas production, providing gas for the country's Atlantic LNG facility. KBR's involvement underscores its strong presence in the LNG market and its commitment to supporting clients in the energy transition, with gas playing a key role in the energy mix.

Jay Ibrahim, President of Sustainable Technology Solutions at KBR, emphasized the company's capabilities in energy security and its role in providing reliable natural resources to meet long-term energy needs while supporting the energy transition.

KBR (NYSE: KBR) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Wednesday, October 23, 2024, at 6:30 a.m. Central Time (7:30 a.m. Eastern Time). The company plans to release its Q3 2024 earnings report and presentation prior to the call, which will be accessible on KBR's website. Investors and interested parties can join the conference call via a live webcast through the Investor Relations section of KBR's website at investors.kbr.com. For those unable to attend the live event, a replay of the webcast will be made available on the company's website, and a telephone replay can be accessed at +1 866 813 9403 using the passcode: 158025.

KBR has been awarded an estimated $113 million task order to perform aeronautical systems research, development, test and evaluation for the Air Force Life Cycle Management Center Mobility Directorate at Wright-Patterson Air Force Base, Ohio. The contract, spanning five years, was awarded under the Department of Defense Information Analysis Center's multiple-award contract vehicle.

Under this contract, KBR will provide program management analysis, engineering, logistics analysis, security and cybersecurity analysis, test and evaluation, and administrative analysis. The work will support the Future Tankers Program Office, informing programs such as Next Generation Air-refueling System (NGAS) development and the recapitalization of legacy tanker aircraft mission systems.

KBR's involvement aims to accelerate the U.S. Air Force's digital transformation journey, focusing on Digital Material Management (DMM) implementation to achieve cost and schedule savings while producing lower-risk and higher-confidence military systems with shorter timelines.

KBR announced that KTJV, its joint venture with Technip Energies, has been selected by Lake Charles LNG Export Company for the Lake Charles LNG transformation project. The project aims to convert Energy Transfer's existing import facility into a world-class LNG export facility, designed to export 16.45 metric tons per annum of LNG.

KTJV will provide comprehensive services including engineering, procurement, construction management, commissioning, and startup, subject to Lake Charles LNG's notice to proceed. The project includes three liquefaction trains and modifications to existing storage and dock facilities.

KBR's President and CEO, Stuart Bradie, emphasized the project's role in bolstering global energy security and its design as one of the most efficient and cleanest operating facilities in the United States. The final investment decision will depend on obtaining commercial offtake commitments and third-party equity.

KBR has been awarded an estimated $230 million cost-plus-fixed-fee recompete contract by the U.S. Air Force's 774th Enterprise Sourcing Squadron. The contract, under the Department of Defense Information Analysis Center's multiple-award contract vehicle, is for information systems modernization supporting Naval Air Systems Command (NAVAIR), Program Executive Office for Manpower, Logistics and Business Solutions (PEO MLB), and Commander, Fleet Readiness Centers (COMFRC).

The work will primarily be performed at Naval Air Station Patuxent River, Maryland, and Huntsville, Alabama, over a five-year period. KBR will provide optimized IT solutions across the NAVAIR enterprise, including research and development for real-time flight and maintenance information, deployable hosting solutions, and end-to-end testing of software releases and cybersecurity updates.

KBR has been awarded a $140 million follow-on task order to support the Air Force Life Cycle Management Center (AFLCMC). The 60-month cost-plus-fixed-fee recompete contract involves providing operational safety, suitability, and effectiveness engineering tasks. KBR will continue its work on F-16, A-10, and T-38 aircraft programs at Hill Air Force Base and other U.S. Air Force locations.

The company will assist in digital transformation initiatives, system engineering, and integration support for various systems. KBR will also develop prototypes for critical safety hardware using rapid prototyping capabilities. This contract reinforces KBR's long-standing partnership with the U.S. Air Force in providing sustainment engineering solutions and improving mission readiness.