KBR, Inc. - KBR STOCK NEWS

KBR, Inc. reported strong second quarter 2021 results with revenues of $1.5 billion, an 11% increase year-over-year, and government solutions revenue rising 29% to $1.2 billion. Adjusted EBITDA grew almost 50% to $156 million. Despite a non-cash operating loss of $88 million due to settlement discussions with the Ichthys LNG client, KBR reaffirmed its revenue guidance of $5.8 billion to $6.2 billion for FY 2021. The company also updated adjusted EPS guidance to $2.00-$2.20 and increased its quarterly dividend by 10%. KBR reported a healthy book-to-bill ratio of 1.1x.

KBR has secured technology licensing contracts with PKN ORLEN for its Solvent Deasphalting (SDA) and Residue Fluid Catalytic Cracking (RFCC) technologies, aimed at refining operations at PKN's Plock Refinery in Poland. The ROSE® technology will enhance feedstock quality, while the MAXOFIN℠ technology seeks to boost propylene production. These contracts demonstrate KBR's commitment to sustainable and energy-efficient refining solutions, marking a significant milestone in KBR's strategic partnerships within the industry.

KBR has been awarded a contract by Neo Lithium Corp. for its Tres Quebradas Lithium Project in Argentina. The contract involves implementing KBR's evaporation and crystallization technology to optimize lithium yields for battery-grade lithium carbonate production. KBR's President, Doug Kelly, emphasized the company's commitment to sustainable growth. With over 40 years of experience in inorganic materials recovery, KBR aims to ensure compliance with stringent environmental regulations.

KBR has been awarded a contract by Haifa Group to enhance the production capacity of two nitric acid plants in Israel, which is expected to increase capacity by approximately 35% at each facility. The contract includes licensing, basic engineering design, and proprietary equipment. KBR's technology aims to boost agricultural yields while minimizing emissions and operating expenses. This strategic collaboration reflects Haifa's commitment to expand its role in precision agriculture.

KBR (NYSE: KBR) has secured two significant recompete contracts exceeding $120 million to enhance U.S. Navy training systems and aircraft survivability equipment. The first contract, worth $64.9 million, focuses on developing training system hardware and software for the E-2/C-2 Airborne Command and Control Systems Program. The second, valued at $55.3 million, involves research and predictive modeling for Advanced Tactical Aircraft Protection Systems. Both contracts aim to improve the effectiveness and safety of Navy operations over the next five years.

KBR, Inc. (NYSE: KBR) will host a conference call on July 29, 2021, at 7:30 a.m. CT to discuss its Q2 2021 financial results. Prior to the call, the company will release its earnings report and presentation, available on its website. The call will be accessible live via webcast and a replay will be offered afterward. KBR employs approximately 29,000 people globally, providing technology and engineering solutions across more than 80 countries.

KBR announced the appointment of Carlos A. Sabater and Lt. General Vincent R. Stewart, USMC (Ret.), to its Board of Directors effective June 30, 2021. Sabater, former senior global partner at Deloitte, brings extensive financial expertise, while Stewart, with nearly 40 years in the U.S. Marine Corps and experience in cyber and defense intelligence, adds significant military and strategic insight. The appointments are expected to enhance KBR's strategy in providing technology-driven solutions.

NASA has awarded a $531 million contract to a joint venture between Aerodyne and KBR (NYSE: KBR) for the Mechanical Integrated Services and Technology (MIST) II program. This cost-plus-fixed-fee contract will provide engineering services for spaceflight and ground systems over a five-year base period, with a six-month option. Services include design, analysis, and verification for NASA missions, primarily at Goddard Space Flight Center. KBR's extensive experience with NASA is highlighted, alongside a statement emphasizing the importance of collaboration in space exploration.

KBR has been awarded a contract by Raízen Argentina to modernize the Fluid Catalytic Cracking (FCC) unit at its Buenos Aires Refinery. This contract involves providing a basic engineering package for the FCC New Configuration Project, utilizing KBR's advanced technologies for improved profitability and reduced carbon footprint. KBR's history in FCC technologies includes over 200 projects since 1985, underscoring its expertise in the industry. The modernization aims to enhance operational efficiency and environmental sustainability.