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. (NYSE: KBR), headquartered in Houston, Texas, is a global leader in providing technology-driven engineering, procurement, and construction (EPC) solutions. With a workforce exceeding 34,000 employees across over 30 countries, KBR serves a diverse range of industries including downstream, gas monetization, infrastructure, minerals, government services, and more.
Organized into two main segments—Government Solutions and Sustainable Technology Solutions—KBR offers a comprehensive suite of services that ensure efficient project execution and high-quality results. The Government Solutions segment focuses on providing mission-critical support, logistics, and infrastructure services to U.S. defense and federal agencies, while the Sustainable Technology Solutions segment specializes in delivering environmentally responsible technologies and services.
Recent notable achievements include:
- April 2024: Signing an alliance with GeoLith SAS to offer advanced Direct Lithium Extraction (DLE) technology, Li-Capt®.
- April 29, 2024: Awarded a $771 million contract by the U.S. Army for mission-critical support under the LOGCAP V contract.
- April 30, 2024: Reported strong Q1 financial results for 2024, with revenues up by 7% and a significant increase in operating cash flow.
- May 2, 2024: Secured a $34 million contract with the U.S. Naval Research Laboratory for facility operations, maintenance, and cybersecurity.
- May 6, 2024: Awarded a multiple-award IDIQ contract by the U.S. Navy for global contingency services with a ceiling value of $2 billion.
- May 13, 2024: Partnered with OCI Global to deploy a proprietary operator training simulator for a clean ammonia facility in Texas.
- May 22, 2024: Signed an alliance with Sumitomo Chemical for exclusive licensing of propylene oxide by cumene technology.
- May 23, 2024: Selected as one of the awardees for a $43 billion multiple-award contract by the Defense Health Agency for health and wellness support for military personnel and their families.
Financially, KBR is robust, generating $7 billion in revenue in 2023, and achieving a net income of $93 million in Q1 2024. The firm's diversified portfolio and strategic partnerships position it strongly for future growth in the rapidly evolving sectors of technology, defense, and sustainable energy solutions.
KBR has secured a contract with SAPREF for its Fluid Catalytic Cracking (FCC) Regenerator project in Durban, South Africa. The project will utilize KBR's proprietary Catalyst Regeneration technology to enhance the reliability of the FCC unit by optimizing catalyst and air distribution. The contract encompasses technology licensing, engineering, and proprietary equipment. KBR, a pioneer in FCC technologies since 1942, boasts over 200 FCC projects worldwide. This contract highlights KBR's commitment to innovation in optimizing product yields while advancing sustainability goals.
KBR has secured a $49.5 million contract from the U.S. Defense Logistics Agency to sustain and maintain automated hydrating fueling systems at military facilities globally. The five-year contract includes one base year and four option years, ensuring essential program management and maintenance services. This initiative will improve fuel inventory accountability and safety, while also supporting the U.S. Army, Navy, Air Force, and Marine Corps. KBR's expertise in digital industrial control systems will enhance operational efficiency and sustainability.
KBR won a $48.5 million recompete task order from the U.S. Air Force Research Laboratory for optoelectronic technology research, focusing on advanced electronic and photonic technologies. This five-year contract will take place in Dayton, Ohio, analyzing military and commercial devices, including lasers and detectors. KBR has supported this research since 2010 and has previously achieved 45 conference presentations and four patents through collaboration with the Air Force. The work aims to drive innovation across various military applications.
KBR has secured a contract with the Alliance for Sustainable Energy to offer engineering, advisory, and evaluation services for biofuel and biorefinery projects at the National Renewable Energy Laboratory (NREL). This collaboration aims to enhance renewable energy research and aligns with KBR's commitment to sustainable technologies. The deal underscores KBR's expertise in sustainable solutions and its ongoing contribution to reducing greenhouse gas emissions.
KBR has signed a license agreement with JS Energy Limited for its K-PRO™ Propane Dehydrogenation technology, aimed at converting propane into propylene for a project in Pakistan anticipated to start in 2024. K-PRO, launched in 2019, offers advantages such as lower capital costs and environmental benefits due to its innovative catalyst that eliminates the use of costly precious metals. KBR emphasizes its commitment to sustainable technologies in response to the growing demand for propylene derivatives.
KBR has secured a $470 million contract to enhance infrastructure services at HM Naval Base Portsmouth over the next five years. In collaboration with BAE Systems, the joint venture named KBS Maritime aims to implement technology-led facilities management under the UK Ministry of Defence's Future Maritime Support Programme. This initiative is expected to generate local investment and provide crucial support for the Royal Navy. KBR continues to strengthen its naval base operations, having previously announced a contract for major infrastructure at HM Clyde Naval Base, Scotland.
KBR, Inc. (NYSE: KBR) will host a conference call to discuss its first quarter 2021 financial results on April 29, 2021, at 7:30 a.m. CT. The earnings release and presentation will be available on the company's website prior to the call. A live webcast of the call will be accessible through the Investor Relations section of the site, with a replay available post-call. KBR employs around 29,000 people worldwide and operates in over 40 countries, providing technology and engineering solutions globally.
KBR announced a 10% increase in its quarterly dividend, raising it to $0.11 per share. The dividend will be payable on April 15, 2021, to stockholders of record by April 5, 2021. This decision reflects KBR's commitment to delivering value to its shareholders. The company employs approximately 29,000 people globally and operates in over 80 countries, providing technology and engineering solutions. The press release also highlights the economic challenges posed by the COVID-19 pandemic but emphasizes the company's strategic positioning in the market.
KBR announced it has secured contracts to revamp two ammonia plants for PJSC Acron Group in Novgorod, Russia. The revamp aims to increase production capacity by over 30%, reaching 2300 MTPD for each plant. KBR will provide process technology licenses, engineering design packages, and proprietary equipment that will enhance energy efficiency and lower greenhouse gas emissions. The completion of the first project is expected in 2023. KBR's ammonia technology is widely trusted, being used in around 50% of licensed global ammonia capacity.
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