KBR, Inc. - KBR STOCK NEWS

KBR announced the successful closure of the fifth amendment to its credit agreement on November 18, 2021. This amendment improves the company's financial flexibility and reduces debt service costs due to a strategic shift in its business focus. Key changes include increased capacity and flexibility in financial covenants, netting of unrestricted cash for leverage ratio calculations, reduced interest rates, and an extension of loan maturities from February 2025 to November 2026. This move aligns with KBR's goals for capital deployment through 2025 and beyond.

KBR has secured a three-year contract with Dyno Nobel to provide digital plant performance monitoring services for its ammonia plant in Waggaman, Louisiana. Utilizing the KBR INSITE® platform, KBR aims to enhance production, energy efficiency, and plant reliability while maintaining environmental performance. This contract reflects KBR's commitment to sustainable operations, leveraging its industry expertise to support clients’ productivity goals. With a global workforce of around 29,000, KBR is positioned to deliver advanced technology and engineering solutions to clients worldwide.

KBR has secured a contract with Hanwha Solutions for its PLINKE^SM nitric acid concentration and spent acid recycling technologies at a new facility in Yeosu, South Korea. The project includes licensing, engineering design, technical services, and equipment for producing 160,000 metric tons of concentrated nitric acid and recycling 240,000 metric tons of spent sulfuric acid annually. This contract marks the fourth collaboration between KBR and Hanwha, highlighting KBR's technological expertise and commitment to sustainability.

KBR has received a letter of award from Northern Petrochemical Corporation to provide licensing and engineering services for its innovative ammonia-methanol co-production technology. This technology, developed jointly with Johnson Matthey, aims to produce blue ammonia and methanol sustainably in Alberta, Canada, while utilizing carbon capture methods for a carbon-neutral process. KBR boasts a robust track record, having licensed over 245 ammonia plants since the 1940s, highlighting its leadership in the ammonia sector.

KBR has declared a quarterly dividend of $0.11 per share on its common stock, payable on January 14, 2022, to stockholders of record on December 15, 2021. The company, employing approximately 29,000 people globally, operates in over 80 countries, delivering science, technology, and engineering solutions. This announcement reflects KBR's commitment to returning value to shareholders, highlighting its ability to maintain a dividend amidst market challenges.

HomeSafe Alliance LLC, a joint venture led by KBR, has secured a $20B global household goods contract from U.S. Transportation Command, lasting up to 9 years. This contract positions HomeSafe as the exclusive provider for relocating U.S. Armed Forces personnel and families. The alliance aims to enhance relocation services through advanced technology and program management, promising a more efficient moving experience. HomeSafe's digital solutions are set to revolutionize the military moving industry.

KBR announced a three-year extension of its INSITE monitoring and advisory services contract with PT Panca Amara Utama for its Banggai ammonia plant in Indonesia. This plant was the first in Indonesia to utilize KBR's PurifierPlus™ technology. The contract enables KBR to continue providing cloud-based services to optimize plant operations, enhance reliability, and improve energy efficiency while reducing emissions. KBR aims to support PAU's digital transformation and sustainability initiatives.

KBR, Inc. reported robust third-quarter 2021 results with revenues reaching $1.84 billion, a 34% increase year-over-year. The government solutions segment contributed $1.6 billion in revenue, up 54% due to new task orders supporting Operation Allies Welcome. Adjusted earnings per share rose 45% to $0.64. KBR raised its fiscal year 2021 guidance, projecting revenues of $7.2 billion to $7.5 billion. The company also finalized the acquisition of Frazer-Nash Consultancy for $400 million, further enhancing its international presence and ESG capabilities.

KBR announced the appointment of Sonia Galindo as Executive Vice President and General Counsel on October 25, 2021. She brings extensive legal experience from her previous roles at FLIR Systems and Rosetta Stone, along with a solid background in public and private sectors. KBR's CEO, Stuart Bradie, emphasized Ms. Galindo's leadership skills and legal knowledge, which are expected to guide the company in maintaining high ethical standards. This leadership change aims to bolster KBR's strategic growth and operational objectives.