KBR, Inc. - KBR STOCK NEWS

KBR has secured a $44 million task order to enhance cybersecurity for U.S. Air Force systems as part of a five-year initiative. This contract, awarded under the Department of Defense Information Analysis Center's multiple-award contract vehicle, will involve research and analysis to mitigate vulnerabilities. It supports the Air Force Life Cycle Management Cyber Systems Engineering Directorate and aims at protecting critical systems, including command and control. KBR's commitment to cybersecurity is highlighted by this significant contract, reinforcing its role in advancing military technology.

KBR's Board of Directors has declared a quarterly dividend of $0.12 per share, set to be paid on July 15, 2022. Stockholders on record by June 15, 2022 will receive this dividend. This reflects KBR's commitment to returning value to its shareholders. With approximately 28,000 employees globally, KBR provides essential science, technology, and engineering solutions. The company continues to adapt to market challenges, including those posed by the COVID-19 pandemic and global market conditions.

KBR has secured two task orders totaling $106 million under the Department of Defense Information Analysis Center's multiple-award contract to support the U.S. Air Force's modernization efforts. The task orders comprise a $65 million contract for the C-130 Hercules aircraft involving systems engineering and cybersecurity solutions, and a $41 million contract for the AIMS Program Office focusing on certification testing and system-level changes. This work reaffirms KBR's role in delivering essential capabilities for military operations.

KBR has signed a Memorandum of Understanding (MoU) with JLB Yaran to enhance engagement with Australian First Nations communities. The agreement, signed during the 2022 Indo Pacific Conference in Sydney, aims to recruit and connect with First Nations peoples for various opportunities across Australia. KBR emphasizes its commitment to empowering First Nations companies in the Australian defense industry. This collaboration is part of KBR's Reconciliation Action Plan, which seeks to improve cultural understanding within the company. The MoU is non-binding and aims for strategic integration with JLB Yaran.

KBR has secured a contract for its K-GreeN® green ammonia technology from JGC Holdings for a pilot project under NEDO's Green Innovation Fund in Fukushima, Japan. This project aims to advance green ammonia adoption, contributing to global decarbonization efforts. As a leader in ammonia technology since 1943, KBR has licensed over 250 ammonia plants globally. Doug Kelly, KBR's President of Technology, emphasizes Japan's role in promoting green ammonia and expresses confidence in future collaborations stemming from this project.

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.