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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 Q2 2022 results with a net income of $94 million and diluted EPS of $0.61, marking a significant improvement from a net loss of $149 million in Q2 2021. Revenue increased by 5% to $1.6 billion. Adjusted EBITDA stood at $186 million, with a margin of 12%. The company generated $125 million in operating cash flow and added $232 million in deployable free cash. KBR is focused on high-barrier markets, recently acquiring VIMA Group and expanding its investment in Mura Technology.
KBR announced it will lead the development of self-defending, self-recovering cyber defense concepts for the UK Ministry of Defence through its subsidiary, Frazer-Nash Consultancy. This three-year project, part of the Autonomous Resilient Cyber Defence initiative, will utilize artificial intelligence and machine learning to create cyber defense strategies tested against simulated military attacks. KBR's expertise in cyber security spans over two decades, and the project aims to enhance the MOD's resilience against cyber threats.
KBR has been selected as a major partner for Axiom Space under NASA's xEVAS contract to develop next-gen spacesuits. This contract, valued at $3.5 billion, spans until 2034. It encompasses design, testing, and manufacturing services for spacesuits aimed at lunar missions and future Mars exploration. KBR has over 25 years of experience in spacesuit development, continuing its legacy of supporting space missions. This collaboration marks a significant milestone in KBR's commitment to advancing human spaceflight capabilities.
KBR, Inc. (NYSE: KBR) has announced a conference call to discuss its second quarter 2022 financial results on August 2, 2022, at 7:30 a.m. Central Time. The company will issue its earnings release and presentation prior to the call, both of which will be available on KBR's website. The conference call will be webcast live, with a replay accessible afterward via the website or by telephone. KBR employs approximately 28,000 people across 34 countries, delivering diverse engineering solutions globally.
KBR (NYSE: KBR) has secured a $20 million contract to expand its health and human performance research for the 711th Human Performance Wing at the Air Force Research Laboratory over a period of 3 years. This cost-plus-fixed-fee agreement enhances KBR's existing R&D initiatives, focusing on airman readiness medical research. The company will utilize its expertise at Wright-Patterson Air Force Base to study the biomedical impacts on airmen, including cognitive performance and aerospace physiology.
KBR (NYSE: KBR) has secured a contract from BP Exploration for front-end engineering design, turnaround engineering, and procurement support services at the Shah Deniz Alpha platform in Azerbaijan. The initiative aims to lower the platform's carbon footprint and enhance operational efficiency by decommissioning five power generators and establishing new energy supplies through subsea cables. KBR's experience in the Azerbaijan-Georgia-Turkey region, coupled with local execution from Azerbaijani engineers, underlines their capability in sustainable technology solutions.
KBR has announced that its commercial cloud and mission service platform, KBR Vaault, is now FedRAMP Ready. This designation allows the platform to support U.S. federal government departments with secure, cloud-based solutions, including digital evidence management for public safety. The platform facilitates the secure collection and management of video and audio data, crucial for incident response. KBR Vaault is one of only 370 products on the FedRAMP Marketplace, reinforcing its credibility and reliability for government and commercial customers.
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KBR has signed a definitive agreement to acquire the UK-based VIMA Group for up to GBP £75 million, including earn-out opportunities. VIMA Group specializes in digital transformation solutions for defense and public sector clients, securing its position as a top supplier to the UK's Ministry of Defence. KBR aims to enhance its advisory and consulting capabilities while investing in future growth. This acquisition aligns with KBR's strategy to strengthen its position in international markets and deliver long-term value.
KBR, Inc. has announced a $100 million investment in Mura Technology, increasing its stake to 18.5%. This funding aims to accelerate Mura's plastics recycling projects, contributing to a sustainable circular economy. Payments will be made in two tranches, with the first in the quarter ending June 30, 2022 and the second in 2023. KBR's partnership with Mura leverages their technology to target a recycling capacity of 1,000,000 tonnes by 2025, enhancing KBR's engagement in this high-growth sector.