KBR, Inc. - KBR STOCK NEWS

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.

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.