KBR Secures Naval Research Lab Contract for Advancement of Space Science Instruments

Rhea-AI Summary

KBR (NYSE: KBR) has secured a cost-plus-fixed-fee contract from the U.S. Navy for the continued development of space science instrument systems at the Naval Research Lab (NRL) in Washington, D.C. The contract, known as Space Science Instruments and Experimental Payloads (SSIEP) 3, is expected to span five years and involves advanced engineering efforts in various fields.

KBR will provide personnel, equipment, and facilities to support engineering and research activities for the Navy's Space Science Division. The work focuses on the design, development, analysis, fabrication, inspection, assembly, integration, testing, and documentation of sophisticated space science instruments and experimental payloads. This contract maintains KBR's presence at NRL, where it has supported SSIEP 1 and 2 since 2015.

Positive

• Secured a cost-plus-fixed-fee contract with the U.S. Navy
• Contract expected to span five years, providing stable revenue
• Continuation of existing relationship with Naval Research Lab since 2015
• Reinforces KBR's position in space science and engineering sectors

Negative

• None.

News Market Reaction

+1.65%

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+1.65% News Effect

On the day this news was published, KBR gained 1.65%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, Aug. 19, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a cost-plus-fixed-fee contract by the U.S. Navy for continued development of space science instrument systems at the Naval Research Lab (NRL) in Washington, D.C.

Under the terms of the Space Science Instruments and Experimental Payloads (SSIEP) 3 contract, KBR will provide personnel, equipment and facilities to support engineering and research activities for the Navy's Space Science Division. Their focus will be on the design, development, analysis, fabrication, inspection, assembly, integration, testing, and documentation of sophisticated space science instruments and experimental payloads.

This work is expected to be performed over five years and involves advanced efforts in various forms of engineering, including thermal systems, contamination, optical and radio frequency, instrument systems, mechanisms, mechanical, and electrical. This follow-on contract maintains KBR's presence at NRL where it has supported SSIEP 1 and 2 since 2015.

"At KBR, we lead the way in technical innovation from space hardware to digital engineering projects worldwide. This win reflects the tireless efforts of our talented engineers, whose seamless fusion of creativity, precision and practicality sets us apart and ensures mission success for our valued customers," stated Byron Bright, President of KBR Government Solutions U.S.

KBR has more than 50 years of comprehensive design engineering experience in various industries.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 36,000 people worldwide with customers in more than 80 countries and operations in over 30 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 Statements

The statements in this press release that are not historical statements, including statements regarding future operations and performance periods, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, 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, uncertainties and assumptions include, but are not limited to, those set forth in 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, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.  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 is the new contract KBR (NYSE: KBR) secured with the U.S. Navy?

KBR secured a cost-plus-fixed-fee contract called Space Science Instruments and Experimental Payloads (SSIEP) 3 for the continued development of space science instrument systems at the Naval Research Lab in Washington, D.C.

How long is the duration of KBR's new SSIEP 3 contract?

The SSIEP 3 contract is expected to be performed over a period of five years.

What type of work will KBR perform under the SSIEP 3 contract?

KBR will provide personnel, equipment, and facilities to support engineering and research activities for the Navy's Space Science Division, focusing on the design, development, analysis, fabrication, inspection, assembly, integration, testing, and documentation of space science instruments and experimental payloads.

Since when has KBR been supporting the Naval Research Lab's SSIEP program?

KBR has been supporting the Naval Research Lab's SSIEP program since 2015, with SSIEP 1 and 2 contracts.