Welcome to our dedicated page for KBR news (Ticker: KBR), a resource for investors and traders seeking the latest updates and insights on KBR stock.
KBR, Inc. (NYSE: KBR), headquartered in Houston, Texas, is a global leader in providing technology-driven engineering, procurement, and construction (EPC) solutions. With a workforce exceeding 34,000 employees across over 30 countries, KBR serves a diverse range of industries including downstream, gas monetization, infrastructure, minerals, government services, and more.
Organized into two main segments—Government Solutions and Sustainable Technology Solutions—KBR offers a comprehensive suite of services that ensure efficient project execution and high-quality results. The Government Solutions segment focuses on providing mission-critical support, logistics, and infrastructure services to U.S. defense and federal agencies, while the Sustainable Technology Solutions segment specializes in delivering environmentally responsible technologies and services.
Recent notable achievements include:
- April 2024: Signing an alliance with GeoLith SAS to offer advanced Direct Lithium Extraction (DLE) technology, Li-Capt®.
- April 29, 2024: Awarded a $771 million contract by the U.S. Army for mission-critical support under the LOGCAP V contract.
- April 30, 2024: Reported strong Q1 financial results for 2024, with revenues up by 7% and a significant increase in operating cash flow.
- May 2, 2024: Secured a $34 million contract with the U.S. Naval Research Laboratory for facility operations, maintenance, and cybersecurity.
- May 6, 2024: Awarded a multiple-award IDIQ contract by the U.S. Navy for global contingency services with a ceiling value of $2 billion.
- May 13, 2024: Partnered with OCI Global to deploy a proprietary operator training simulator for a clean ammonia facility in Texas.
- May 22, 2024: Signed an alliance with Sumitomo Chemical for exclusive licensing of propylene oxide by cumene technology.
- May 23, 2024: Selected as one of the awardees for a $43 billion multiple-award contract by the Defense Health Agency for health and wellness support for military personnel and their families.
Financially, KBR is robust, generating $7 billion in revenue in 2023, and achieving a net income of $93 million in Q1 2024. The firm's diversified portfolio and strategic partnerships position it strongly for future growth in the rapidly evolving sectors of technology, defense, and sustainable energy solutions.
KBR (NYSE: KBR) has secured an engineering and design services contract from Chemours, part of a $200 million investment aimed at enhancing its Nafion™ ion exchange materials platform. This technology is pivotal in the hydrogen economy, facilitating clean hydrogen production through water electrolysis. KBR's involvement supports its strategic direction in clean hydrogen and specialty chemicals, enhancing its existing partnership with Chemours. Jay Ibrahim, president of KBR's Sustainable Technology Solutions, emphasized the significance of this contract for promoting sustainability and advancing energy transition. KBR's experience in the hydrogen value chain positions it as a key player in delivering innovative solutions for a cleaner future.
KBR (NYSE: KBR) announced a joint development agreement with ISU Chemical Co. Ltd. on April 19, 2023, to design a commercial-scale lithium sulfide (Li2S) unit for next-generation battery technology. As the exclusive licensor of this innovative technology, KBR aims to advance the production of all-solid-state batteries, known for their safety, efficiency, and enhanced power storage capabilities. Doug Kelly, KBR's President of Technology, emphasized the importance of this collaboration in promoting renewable energy utilization. The partnership combines ISU Chemical's R&D expertise with KBR's extensive experience in process technologies, aiming to achieve cost competitiveness and supply stability in lithium sulfide production, a crucial component for modern batteries.
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