KBR, Inc. - KBR STOCK NEWS

KBR (NYSE: KBR) has initiated electric aircraft test flights for the UK Ministry of Defence as part of its Affinity Joint Venture with Elbit Systems UK. The project focuses on evaluating zero-emission aircraft, supporting the UK Armed Forces' green transformation efforts. The tests, involving the Velis Electro aircraft, will examine technology effectiveness and operational implications. This initiative reinforces KBR's commitment to sustainable solutions, aligning with its history of delivering innovative technologies since 2016.

KBR announced a strong start to 2022 with Q1 revenues reaching $1,714 million, a 17% increase from 2021. Although it reported a diluted loss per share of $(0.51), adjusted EPS rose 29% to $0.62. Operating cash flow stood at $89 million. The company secured $1.2 billion in new contracts, enhancing visibility for its long-term growth. KBR raised its FY 2022 guidance, expecting revenues between $6.4 billion to $6.8 billion and adjusted EPS from $2.53 to $2.65, capitalizing on favorable market trends and robust demand.

KBR has secured a 7-year contract from Saudi Aramco TOTAL Refining and Petrochemical Company (SATORP), with an option for a 3-year extension, to provide General Maintenance Services at the Jubail refinery in Saudi Arabia. The scope includes preventive, predictive, and shutdown maintenance, aimed at optimizing costs and achieving top quartile plant performance. This partnership emphasizes KBR's commitment to Saudization and a Zero Harm safety culture. The company has a 70-year track record in the downstream industry, delivering complex maintenance projects globally.

KBR will host a conference call on April 28, 2022, at 7:30 a.m. Central Time, to discuss its first quarter 2022 financial results. The earnings release and presentation will be available on KBR's website prior to the call. A replay of the webcast will also be accessible post-call. KBR continues to provide vital science, technology, and engineering solutions worldwide, employing around 28,000 people in 34 countries.

KBR has secured a $62 million task order from the U.S. Army to deliver engineering and analysis services over five years. This contract, awarded under the DoD Information Analysis Center Multiple Award Contract, highlights KBR's long-standing collaboration with the Army, having supported the PEO Missiles and Space for over 20 years. The company will operate from Redstone Arsenal, Alabama, enhancing its role in U.S. military support and missile defense systems.

KBR (NYSE: KBR) announced a contract award from Taiwan's CPC Corporation for its ROSE® supercritical Solvent De-Asphalting (SDA) technology and Vacuum Distillation Unit (VDU). This contract includes licensing, basic engineering, and proprietary equipment for the ROSE process, known for its cost-effective residue upgrading and 50% energy savings compared to conventional technologies. KBR aims to enhance clean fuels production and reduce carbon footprints. With a significant global footprint, KBR operates 70 ROSE units worldwide.

KBR announced a conditional settlement with JKC Australia LNG Pty Ltd, which it holds a 30% interest in, to resolve disputes with a consortium that includes General Electric. The agreement is expected to provide KBR with significant cash proceeds of USD$271 million, divided into two payments: USD$203 million in April 2022 and USD$68 million in March 2023. However, KBR anticipates a non-cash loss of approximately USD$140 million in Q1 2022. The settlement is conditional, and ongoing arbitration will continue until all conditions are met.

KBR has secured a contract with DL E&C for NeuRizer's carbon-neutral fertilizer project in Australia. This contract involves technology licensing and engineering for a 1,600 MTPD ammonia plant using KBR's efficient Purifier® process. The facility will be the first fully integrated urea production site globally, incorporating innovative syngas production and carbon geo-sequestration. KBR emphasizes its commitment to sustainability and energy efficiency, aiming to support agriculture in local and export markets.

KBR (NYSE: KBR) has completed private astronaut training for the historic Axiom Mission 1 (Ax-1), launching on April 6. This mission marks the first private astronaut initiative to the International Space Station (ISS). KBR is the prime contractor for NASA's Integrated Mission Operations Contract II and Human Health and Performance Contract. The Ax-1 crew underwent a comprehensive training program, receiving over 100 hours of hands-on instruction. This training emphasizes KBR's expertise in ISS systems and space medical operations, highlighting its pivotal role in upcoming space exploration.