KBR, Inc. - KBR STOCK NEWS

KBR won a $91.8 million task order to provide engineering services for the U.S. Air Force's aircraft managed by the 448th Supply Chain Management Wing. The contract focuses on addressing challenges related to aging aircraft, such as Diminishing Manufacturing Sources and Material Shortages (DMSMS), and includes analyses of electronic warfare systems. The project spans five years across multiple states. KBR aims to enhance reliability, maintainability, and supply chain performance, reflecting its ongoing support for the Defense Department's research and development since 2005.

KBR (NYSE: KBR) announced a quarterly dividend of $0.11 per share, payable on July 15, 2021, to stockholders of record by June 15, 2021. The company emphasizes its commitment to providing science, technology, and engineering solutions globally, employing approximately 29,000 people across 80 countries. KBR's operations focus on delivering predictable results through long-term services while navigating risks related to the COVID-19 pandemic and market fluctuations, as discussed in their recent filings.

KBR, Inc. (NYSE: KBR) has secured a contract to support Nigeria's first Floating Liquefied Natural Gas (FLNG) facility, aimed at fostering the country's economic growth and energy sustainability. Awarded by UTM Offshore Limited, KBR will act as Owner's Engineers, reviewing the Pre-Front End Engineering Design by JGC. This 1.2 million tonnes per annum facility represents a critical step in Nigeria's energy transition and gas monetization. KBR's extensive LNG experience will contribute to the project, aligning with UTM Offshore's decarbonization goals.

KBR has secured a $51.2 million contract from the NOAA for the development and operation of the Space Weather Follow-On (SWFO) Antenna Network. This initiative aims to enhance space weather forecasts, crucial for protecting various global infrastructure from potential solar storms. KBR will manage telemetry and command services for the planned SWFO-L1 spacecraft, set for launch in late 2024. The contract is valued at $51.2 million if fully exercised and will be executed across multiple locations, including Maryland and Virginia.

KBR, Inc. (NYSE: KBR) announced its participation in several upcoming investor conferences to engage with stakeholders. Key events include the Goldman Sachs Industrial & Materials Conference on May 12, 2021, featuring Mark Sopp and Alison Vasquez; the Jeffries Virtual IT Services Summit on May 25, 2021, with CEO Stuart Bradie; and the KeyBanc Capital Markets' Virtual Industrials & Basic Materials Conference on June 3, 2021. Interested investors can access live webcasts and additional materials on KBR's investor relations website.

KBR, Inc. (NYSE: KBR) has secured a contract to perform Front-End Engineering Design (FEED) for a new refinery facility in Nigeria for BUA Group. This contract builds on a successful feasibility study completed in 2018, reinforcing KBR's long-standing partnership with BUA. The refinery will enhance Nigeria's fuel production capabilities, decreasing reliance on imports. KBR emphasizes its commitment to sustainable technology solutions and aims to reduce greenhouse gas emissions. This award highlights KBR's leadership position in the engineering sector.

Cummins and KBR have signed a memorandum of understanding (MoU) to collaborate on producing green ammonia from renewable sources. This partnership aims to provide integrated solutions, leveraging Cummins' expertise in PEM electrolysis and KBR's ammonia technologies. The collaboration intends to deliver significant capital and operational savings for clients while contributing to decarbonization. Cummins is scaling its technology for projects exceeding 250 megawatts, and both companies are focused on supporting corporate ESG initiatives.

KBR has entered a memorandum of understanding (MoU) with Cummins to develop a comprehensive green ammonia solution. By integrating Cummins' proton exchange membrane electrolysis technology with its own K-GreeN^® solution, KBR aims to capitalize on the growing demand for renewable ammonia production. This collaboration highlights both companies' strengths and positions them to assist clients in achieving their environmental, social, and governance (ESG) goals. KBR, with a legacy in ammonia technology since 1943, is poised to enhance its market offering in the renewable energy sector.

KBR, Inc. reported first quarter 2021 financial results with revenues of $1.461 billion, down from $1.537 billion in 2020. The company achieved an operating income of $89 million compared to a loss of $69 million last year, and posted an adjusted EBITDA of $135 million, a 21% increase. KBR secured approximately $1.6 billion in new contracts and projects, and reaffirmed its FY 2021 revenue guidance of $5.8 billion to $6.2 billion. The quarterly dividend was increased by 10% to $0.11 per share.