KBR to Prepare and Protect U.S. Navy Aircraft Crews through Recompetes Totaling $120M

Rhea-AI Summary

KBR (NYSE: KBR) has secured two significant recompete contracts exceeding $120 million to enhance U.S. Navy training systems and aircraft survivability equipment. The first contract, worth $64.9 million, focuses on developing training system hardware and software for the E-2/C-2 Airborne Command and Control Systems Program. The second, valued at $55.3 million, involves research and predictive modeling for Advanced Tactical Aircraft Protection Systems. Both contracts aim to improve the effectiveness and safety of Navy operations over the next five years.

Positive

• Awarded two recompete contracts totaling over $120 million, enhancing financial outlook.
• Focus on advanced training systems and aircraft protection systems aligns with defense modernization.
• Contracts will improve training effectiveness, increasing overall readiness for Navy personnel.

Negative

• None.

HOUSTON, July 19, 2021 /PRNewswire/ -- KBR (NYSE: KBR) won two recompetes totaling more than $120 million to provide leading-edge engineering services for U.S. Navy training systems and aircraft survivability equipment.

Most recently, KBR won a $64.9 million task order to develop and upgrade training system hardware and software, as well as electronic classroom content and interactive courseware for the E-2/C-2 Airborne Command and Control Systems Program Office (PMA-231).

KBR will also research and develop recommendations for live, virtual, and constructive training that is interoperable with other platforms. This work will enhance training effectiveness for aircrew and maintainers, increasing overall readiness for the Navy.

Additionally, KBR won a $55.3 million task order to perform research and analysis, including forecasting and predictive modeling, for the Advanced Tactical Aircraft Protection Systems Program Office (PMA-272). The company will boost the reliability, availability, and maintainability of aircraft survivability equipment. This equipment includes electronic systems that safeguard aircraft and crews against infrared and laser missiles and other threats on the battlefield. KBR will also develop and manage databases and electronic technical manuals.

"These recompetes speak to KBR's commitment and capability to prepare and protect men and women in the fleet. Our work helps servicemembers carry out their missions effectively and come home safely," said Byron Bright, KBR Government Solutions President.

The U.S. Air Force's 774th Enterprise Sourcing Squadron awarded both cost-plus-fixed-fee task orders through the DoD Information Analysis Center's (IAC) Multiple Award Contract, an indefinite delivery, indefinite quantity vehicle for complex, integrated professional projects. KBR will carry out work for these task orders in Florida as well as other locations over the next five years.

KBR advances defense and national security interests on land, at sea, in the air, space and cyberspace. Its in-depth portfolio spans defense modernization; military, civil and commercial space; intelligence; cyber; and advanced logistics. KBR also provides the DoD with one of the largest independent flight test organizations in the world.

About DoD IAC Program

The DoD IAC, sponsored by Defense Technical Information Center, provides technical data management and research support for DoD and federal government users. Established in 1946, the IAC program serves the DoD science and technology (S&T) and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader S&T community.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 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; the company's ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company's ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company's ability to manage its liquidity; the company's ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; 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; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers, including as a result of the COVID-19 pandemic; 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; 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.

KBR'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 KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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SOURCE KBR, Inc.

FAQ

What are the recent contracts won by KBR?

KBR recently won two contracts totaling over $120 million for U.S. Navy training systems and aircraft survivability.

How much is KBR's contract for the E-2/C-2 systems?

The contract for the E-2/C-2 Airborne Command and Control Systems is valued at $64.9 million.

What does the $55.3 million contract involve?

The $55.3 million contract involves research and predictive modeling for Advanced Tactical Aircraft Protection Systems.

Where will KBR perform the awarded tasks?

KBR will carry out this work in Florida and other locations over the next five years.

When was this press release issued?

The press release was issued on July 19, 2021.