KBR Stock Price, News & Analysis

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.

KBR announced that Umberto della Sala will not seek re-election to its board of directors during the upcoming annual shareholder meeting in May. Sir John A. Manzoni has been nominated to fill his position. Della Sala has served on the board since 2015, bringing experience from various committees. Manzoni's extensive background includes leadership roles at SSE and BP, which may provide valuable insights to KBR. The company's commitment to delivering science and technology solutions globally remains strong as it navigates ongoing challenges in the market.

KBR and ExxonMobil have announced a collaboration to enhance propane dehydrogenation (PDH) technology. The partnership will integrate ExxonMobil's new proprietary catalyst with KBR's K-PRO℠ PDH technology, enabling the conversion of propane to propylene. This collaboration aims to reduce energy consumption and operating costs for existing and future K-PRO licensees. The combined expertise of both companies, with over 50 years in catalyst and technology development, is expected to accelerate commercialization and improve financial outcomes for customers.

KBR has secured a contract from a leading midstream company for a world-scale olefins production facility on the U.S. Gulf Coast. The project will utilize KBR's K-COT^TM catalytic olefins technology, enabling the production of 2.4 million metric tons annually. The technology supports energy transition, enhances carbon efficiency, and incorporates plastics circularity. This initiative aims to address the growing demand for light olefins while leveraging existing infrastructure and logistics.