KBR Awarded Analytic Modeling and Data Science Contracts worth over $120M

Rhea-AI Summary

KBR has secured two contracts exceeding $120 million to provide advanced analytics, modeling, and data management services for the U.S. government's evaluation of strategic space system acquisitions. The contracts, focusing on spacecraft systems and IT, will run through 2027. KBR's Government Solutions U.S. President, Byron Bright, emphasized the company’s commitment to being a trusted advisor in space system acquisition. KBR continues to expand its role in government contracts, reflecting a strategic focus on the growing space sector.

Positive

• Awarded contracts worth over $120 million to provide advanced analytics and modeling services.
• Contracts emphasize KBR's commitment to supporting U.S. government space system acquisitions.
• Work expected to continue through 2027, ensuring steady revenue stream.

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• None.

HOUSTON, Nov. 3, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded two contracts totaling over $120 million to conduct advanced analytics, modeling, estimation, research, integrated program management, acquisition technical assistance, architecture trade studies, data science, and data management, in support of the U.S. government's evaluation of strategic space system acquisitions.  

Under the terms of the contracts, KBR will develop analytic products and systems engineering services that inform investment decisions for major systems acquisitions, with an emphasis on spacecraft systems, information technology systems, and space system sustainment activities. Work is expected to be performed through 2027. 

"We are excited to be a part of this significant project," said KBR Government Solutions U.S. President Byron Bright. "This win is indicative of KBR's strategic commitment to being a trusted advisor to the government in all aspects of space system acquisition."

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission-critical roles in 34 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com  

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

The company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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SOURCE KBR, Inc.

FAQ

What contracts were awarded to KBR on November 3, 2022?

KBR was awarded two contracts totaling over $120 million for advanced analytics and modeling services in support of U.S. government space system acquisitions.

What is the duration of the contracts awarded to KBR?

The contracts are expected to be performed through 2027.

What services will KBR provide under the awarded contracts?

KBR will provide analytics, modeling, estimation, research, and data management services.

How does the recent contract win impact KBR's business?

The contracts strengthen KBR's position as a trusted advisor to the government in space system acquisitions and ensure a significant revenue stream.

What is the focus area of the contracts awarded to KBR?

The contracts focus on spacecraft systems, information technology systems, and space system sustainment activities.