KBR, Inc. - KBR STOCK NEWS

KBR (NYSE: KBR) has been awarded a contract to continue providing technical design services at HMAS Stirling for Australia's sovereign nuclear-powered submarines program. This work supports the Submarine Rotational Force (SRF) – West and accelerates Australia's ability to operate and maintain its future nuclear-powered submarine fleet. KBR will integrate capabilities from Frazer Nash Consultancy to support a safety-led approach for nuclear technical solutions.

The company's expertise includes developing solutions for maritime infrastructure, low-level radioactive waste management, submarine maintenance support facilities, estate planning, digital integration, and systems engineering requirements. This contract follows KBR's previous announcement of providing concept design services for the new nuclear-powered submarine construction yard at Osborne in South Australia.

KBR (NYSE: KBR) has secured a contract to provide its ROSE® supercritical Solvent De-Asphalting (SDA) technology to Zhejiang Petroleum & Chemical Co. (ZPC), a subsidiary of Rongsheng Petrochemical Co. in China. The agreement includes technology licensing and proprietary engineering design for what will be the largest SDA unit in China.

KBR's ROSE technology is an energy-efficient process for bottom-of-the-barrel processing, designed to improve refiners' carbon footprint and upgrade residue conversion for higher profitability. With this contract, KBR reinforces its position as a global leader in SDA technology, boasting an installed base of 72 ROSE units worldwide with a combined licensed capacity of nearly 1.66 million barrels per day.

KBR has secured engineering contracts from Seatrium Group for two new high-production, energy-efficient floating production storage and offloading (FPSO) units destined for Petrobras' Atapu and Sepia fields in Brazil's Santos Basin. KBR will provide detailed engineering services and technical support for the topsides of P-84 and P-85 FPSOs, each capable of producing 225,000 barrels of oil per day and processing 10 Mm³ of gas daily.

The FPSOs will incorporate advanced technologies to minimize environmental impact, including zero routine flaring and venting, variable speed drives, and CO2 capture measures. These features aim to significantly reduce greenhouse gas emissions compared to conventional designs.

KBR (NYSE: KBR) has completed the acquisition of LinQuest , a leading provider of advanced engineering, data analytics, and digital integration for national security space missions. This acquisition strengthens KBR's capabilities in space, air dominance, and connected battlespace missions. LinQuest serves important U.S. government customers, including the U.S. Space Force, U.S. Air Force, and other defense and intelligence agencies.

The integration expands KBR's ability to meet growing customer demands and enhances its high-end digital solutions. LinQuest will be integrated into KBR's Government Solutions segment and Defense and Intel business unit. Due to the closing date, LinQuest's financial results are not expected to significantly impact KBR's Q3 2024 financial results. The full impact of the acquisition on KBR's annual guidance will be discussed during the Q3 earnings call.

KBR (NYSE: KBR) has announced a quarterly dividend declaration. The company's Board of Directors has approved a regular quarterly dividend of $0.15 per share on KBR's common stock. This dividend will be paid on October 15, 2024, to stockholders of record as of September 16, 2024. The dividend applies to KBR's common stock, which has a par value of $0.001 per share.

KBR has been awarded a $199 million contract by the Naval Information Warfare Center Pacific Program Executive Office Digital and Enterprise Services to support the Department of Defense's digital transformation. The five-year contract focuses on enhancing zero-trust capabilities, ensuring secure data flow and edge protection for military operations.

KBR will conduct research, analysis, and testing in critical technology areas including future generation wireless technology, trusted AI, integrated sensing and cyber, network systems-of-systems, space technology, and quantum science. The company's experts will provide recommendations for integrating prototype components into existing information systems to improve reliability and reduce costs.

KBR (NYSE: KBR) has secured a cost-plus-fixed-fee contract from the U.S. Navy for the continued development of space science instrument systems at the Naval Research Lab (NRL) in Washington, D.C. The contract, known as Space Science Instruments and Experimental Payloads (SSIEP) 3, is expected to span five years and involves advanced engineering efforts in various fields.

KBR will provide personnel, equipment, and facilities to support engineering and research activities for the Navy's Space Science Division. The work focuses on the design, development, analysis, fabrication, inspection, assembly, integration, testing, and documentation of sophisticated space science instruments and experimental payloads. This contract maintains KBR's presence at NRL, where it has supported SSIEP 1 and 2 since 2015.

KBR has appointed Nchacha E. Etta to its Board of Directors, effective August 12, 2024. Etta, currently the EVP and CFO of Omnicell, Inc., brings over 20 years of global finance and accounting experience in healthcare and consumer products industries. His career includes senior roles at Essilor of America, Johnson & Johnson Vision, and The Coca-Cola Company. Etta holds a BS in Accounting from George Mason University and an MBA in Finance from Howard University.

KBR's board chairman, General Lester Lyles, welcomed Etta, highlighting his experience with multinational corporations as valuable for KBR's global operations. Etta will serve on the Audit and Sustainability & Corporate Responsibility Committees of the KBR Board.

KBR (NYSE: KBR) has announced a significant agreement with Avina Clean Hydrogen Inc. for its PureSAF℠ sustainable aviation fuel technology. The contract includes technology licensing, engineering design, and front-end engineering design (FEED) for Avina's facility, which aims to produce 120 million gallons of sustainable aviation fuel (SAF) per year.

Developed by Swedish Biofuels and exclusively licensed by KBR worldwide, PureSAF can produce fully fungible jet fuel from various feedstocks, including ethanol, mixed alcohols, carbon dioxide, and synthesis gas. This marks an expansion of KBR's collaboration with Avina, following the selection of KBR's K-GreeN® technology for Avina's green ammonia project in 2023.

The agreement aligns with KBR's commitment to implementing decarbonization technologies and advancing ESG objectives, as the company celebrates 100 years of offering clean fuel solutions in 2024.