KBR, Inc. - KBR STOCK NEWS

KBR (NYSE: KBR) has launched SCOREKlean℠, an innovative ethylene and propylene process technology powered by 100% hydrogen-fueled burners to achieve zero emissions from ethylene cracking furnaces. This technology is aimed at decarbonizing the petrochemical industry, which is a significant source of greenhouse gas emissions. SCOREKlean offers benefits like ultra-low CAPEX design, feedstock flexibility, and higher yields. Doug Kelly, KBR President of Technology, expressed excitement over SCOREKlean's launch amid the industry's focus on sustainability and growth.

KBR (NYSE: KBR) announced that CVR Energy's Board of Directors has greenlit the next phase of the alkylation unit revamp at their Wynnewood, Oklahoma refinery. This phase includes engineering, design, and construction for KBR's Solid Acid Alkylation Technology (K-SAAT™), aiming to replace hydrofluoric acid and enhance gasoline production. The K-SAAT technology is expected to improve alkylate yield and deliver environmental benefits, marking a significant step for the U.S. refining industry. KBR will supply a fully engineered modular solution along with its proprietary catalyst, ExSact™, designed for superior performance.

KBR (NYSE: KBR) has secured a contract with Hyundai Engineering Company to provide proprietary equipment for a modular plastics recycling plant utilizing its Hydro-PRT technology. This facility will be located at LG Chem's Chronos Project in South Korea, with a capacity of 20,000 tonnes per annum. The contract follows KBR's prior licensing of Hydro-PRT technology to LG Chem. KBR's President, Doug Kelly, emphasized the advantages of their modular solution in achieving ESG objectives. Hydro-PRT technology is recognized for its efficiency in converting waste plastics into raw materials, contributing to full plastics circularity and offering significant environmental benefits.

KBR (NYSE: KBR) has been awarded a contract to supply ammonia technology for a large-scale low-carbon ammonia facility in the Middle East, targeting one million tons per annum. The agreement includes technology licensing, basic engineering design, and proprietary equipment. This project highlights the region's ambition to lead in low-carbon fuels, leveraging ammonia for clean hydrogen production. KBR holds approximately 50% of the market share in ammonia technology and has established over 250 ammonia plants globally since 1943. The CEO, Doug Kelly, expressed pride in KBR's role in this transformative energy transition initiative.

KBR has announced the launch of its Sustainable Aviation Fuel (SAF) technology in collaboration with Swedish Biofuels AB. This partnership enhances KBR's decarbonization efforts within the aviation sector, offering a distinct SAF solution that processes both ethanol and carbon dioxide to create aviation fuel. The technology was validated with assistance from DARPA at Wright-Patterson Air Force Base. KBR's President, Doug Kelly, expressed enthusiasm for aiding the aviation sector in achieving sustainability objectives. The company aims to help meet net zero emission targets by 2030 and beyond, demonstrating its commitment to reducing CO2 emissions through innovation in fuel technology.

KBR, Inc. reported strong Q4 and fiscal 2022 results, highlighted by a 23% revenue increase year-over-year to $1.6 billion. The company achieved a net income of $93 million and an Adjusted EBITDA of $157 million, reflecting a 10% margin. For fiscal 2023, KBR projects revenue of $6.9 to $7.1 billion and Adjusted EBITDA of $715 to $745 million, with an increase in the quarterly dividend by 12.5% to $0.135 per share. KBR's backlog stands at $19.8 billion, with a 1.2x book-to-bill ratio. The company emphasizes its commitment to carbon neutrality and sustainable technology solutions.

KBR has announced a quarterly dividend of $0.135 per share on its common stock, which will be paid on April 14, 2023. Stockholders of record by March 15, 2023 will be eligible to receive this dividend. This declaration signals KBR's commitment to returning value to its shareholders. The company, which employs approximately 28,000 people across 34 countries, continues to provide technology and engineering solutions globally.

KBR (NYSE: KBR) announced that its K-GreeN® technology has been chosen by Enaex, S.A. for the HyEx green ammonia project in Chile. The project aims to produce green ammonia using renewable energy sources like photovoltaic power. Toyo Engineering Corporation will conduct front-end engineering design using KBR's proprietary technology. KBR has a strong track record in ammonia technology, with over 250 grassroot ammonia plants licensed, engineered, or constructed globally since 1943. This initiative is poised to enhance Chile's renewable energy capabilities and contribute to the global clean hydrogen energy future.