Welcome to our dedicated page for KBR news (Ticker: KBR), a resource for investors and traders seeking the latest updates and insights on KBR stock.
KBR, Inc. provides science, technology, engineering, mission support, and long-term operations and maintenance services to government and commercial customers worldwide. News about KBR commonly centers on its Mission Technology Solutions contract awards, including U.S. military logistics, base operations, data analytics, aviation safety, transportation systems, and readiness support under programs such as AFCAP V and LOGCAP V.
KBR updates also cover quarterly financial results, bookings, margins, share repurchases, and technology initiatives. Its Sustainable Technology Solutions activity includes engineering and project delivery for energy-sector technologies, including lithium extraction, refining, and conversion offerings such as PureLi and alliance-based deployment of Li-Capt technology.
KBR reported strong Q3 2022 results with a net income of $74 million and an adjusted EBITDA of $171 million, achieving 11% adjusted EBITDA margins. Revenue was $1.6 billion, down 12% year-over-year due to completed projects. However, excluding these impacts, revenue organically grew by 11%. KBR raised its FY 2022 guidance, projecting revenue between $6.5 billion and $6.7 billion, and adjusted EPS is forecasted at $2.60 to $2.65. The company secured $2.7 billion in new bookings while maintaining robust cash flows.
KBR (NYSE: KBR) served as co-lead sponsor for the 38th Annual Army Ten-Miler, held on Oct. 9, 2022, in Washington, D.C., marking its sponsorship since 2005. The event attracted approximately 20,000 runners and has raised over $8 million for Army Morale, Welfare, and Recreation programs. Additionally, KBR sponsored the Army Ten-Miler Shadow Run Series, facilitating participation for military personnel overseas. This sponsorship included hospitality services and a donation to the non-profit organization 'Wear Blue: Run to Remember,' further emphasizing KBR's commitment to supporting U.S. armed forces.
KBR has declared a quarterly dividend of $0.12 per share, set to be paid on January 13, 2023. Stockholders of record by December 15, 2022 will be eligible for this dividend. This ongoing commitment to returning value to shareholders reflects the company's financial confidence and stability in its operations across 34 countries.
KBR has secured a contract from GS Caltex for a plastics circularity project in South Korea. Utilizing KBR and Mura's Hydro-PRT® process, the 50 kTA unit will convert waste plastics into new plastic raw materials, contributing to total circularity. KBR's President expressed excitement about supporting GS Caltex's sustainability goals, while Mura's CEO highlighted the project's ability to help companies achieve their ESG objectives. This partnership enhances KBR's long-standing expertise in process technology and aligns with their commitment to sustainability.
KBR (NYSE: KBR) has announced a conference call scheduled for October 26, 2022 at 7:30 a.m. CT to discuss its third quarter 2022 financial results. The earnings release and presentation will be available on KBR's website prior to the call. Investors can access the live call and a subsequent replay through the Investor Relations section of their site.
The company provides science, technology, and engineering solutions globally, employing approximately 28,000 people in 34 countries.
KBR (NYSE: KBR) has secured a technology contract from Tecnimont S.p.A. for OCI NV's low-carbon blue ammonia project in the U.S. The contract includes the supply of a technology license, engineering design, equipment, and catalyst for a plant with a capacity of 1.1 million tons per annum, aimed for completion by 2025. This project will evolve from blue to green ammonia production as green hydrogen becomes more widely available. KBR's technology leadership is highlighted, with a history of licensing 252 ammonia plants since 1944.
KBR (NYSE: KBR) has secured a three-year contract to support UK Nuclear Waste Services, enhancing its role in critical nuclear infrastructure. This agreement will leverage KBR's extensive experience in the nuclear sector, with a focus on project management, technical design, and community engagement. The company has grown its workforce in the UK nuclear energy sector from 200 to over 850 employees since 2020. This collaboration underscores KBR's commitment to delivering innovative, safety-focused solutions aligned with national infrastructure needs in the UK.
KBR has signed a master license and engineering agreement with Giammarco-Vertrocoke S.R.L. to globally license its proven carbon capture technology. This agreement allows KBR to provide energy-efficient, flexible carbon capture solutions to the blue ammonia, petrochemical, and refining industries, supporting clients in achieving sustainability targets. KBR’s President, Doug Kelly, emphasized the importance of this integration for both current and future projects. Giammarco-Vetrocoke aims to enhance its global presence through this partnership, aligning with its mission to mitigate climate change by capturing CO2.
KBR has been awarded a $38 million contract by the Defense Logistics Agency (DLA) for maintenance support and sustainment of Automated Fuel Handling Equipment (AFHE) at 23 sites globally. This 5-year contract includes preventative and corrective maintenance, site support, and data analytics to ensure operational continuity. KBR aims to enhance productivity while reducing waste and environmental pollution. The company has provided Industrial Control Systems services to DLA for over 15 years, reinforcing its commitment to sustainability and efficient government solutions.
KBR has secured a contract to investigate a carbon-neutral, green ammonia power system for an Odfjell-owned semi-submersible drilling unit. Collaborating with Odfjell, Equinor, and Wärtsilä, KBR aims to convert diesel generators to ammonia-fueled systems. Jay Ibrahim, KBR's president of Sustainable Technology Solutions, emphasized the project's role in decarbonizing existing assets and achieving net-zero targets. KBR, known for its K-GreeN technology, offers a sustainable alternative for the maritime industry.