KBR, Inc. - KBR STOCK NEWS

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.

KBR announced the successful commissioning of an ammonia revamp project at Acron's Dorogobuzh site in Russia. This project boosted ammonia production capacity from 1,360 MTPD to 2,100 MTPD and reduced energy consumption. KBR utilized its KRES™ technology and provided comprehensive engineering and commissioning services. Approximately 50% of global ammonia capacity relies on KBR's technology, having revamped 200 ammonia plants since the 1960s. This achievement underscores KBR's commitment to delivering sustainable solutions to clients worldwide.

KBR has secured two contracts exceeding $100 million to provide essential base operations services at U.S. military installations in the Middle East. The contracts include a $67.4 million agreement with Naval Facilities Engineering Systems Command for services at four Navy facilities in the United Arab Emirates and a $35 million task order from the U.S. Air Force for power production at Prince Sultan Air Base in Saudi Arabia. KBR aims to enhance operations using advanced technology and analytics while continuing to support military readiness.

KBR has secured a $25 million contract with the Australian Defence Force (ADF) for sustainment services on Secure Deployed Networks, covering both naval and land operations. The contract spans three years, with KBR providing ICT, engineering, and logistics support across major Australian cities. This initiative represents a significant expansion into a new business line for KBR, enhancing their capabilities in the Australian market through collaboration with local partner oobe. The contract aligns with KBR's strategic goals in delivering advanced government services.

KBR has secured a significant contract with the UK Ministry of Defence (MOD) to deliver advanced Nano Unmanned Air Systems (UAS) for military applications. This collaboration, involving UK-based Evolve Dynamics, aims to enhance technological capabilities for the British Army and Future Capability Group.

The initiative highlights KBR's expertise in integrating cutting-edge technologies, including training and logistics support, to meet the evolving demands of defence operations. KBR's global experience in unmanned systems will facilitate timely and efficient delivery of these solutions.

KBR, Inc. reported its fourth quarter and fiscal 2020 results, with revenues of $5.8 billion, a year-over-year increase of $128 million. The operating income was $57 million, down from $362 million in 2019, while adjusted EBITDA rose to $478 million. The company announced 2021 guidance forecasting revenue between $5.8 billion and $6.2 billion, with EPS expected between $1.39 and $1.59. KBR emphasized achievements in sustainable solutions, including a commitment to net-zero carbon emissions by 2030.