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) generates a steady flow of news through contract awards, technology deployments and program milestones across energy, defense and space. The company’s releases highlight its role in delivering science, technology and engineering solutions to governments and companies worldwide, with a workforce of about 37,000 people serving customers in more than 80 countries and operations in over 29 countries.
On this page, readers can follow KBR news related to LNG and energy transition projects, such as front-end engineering design for the Coastal Bend LNG facility on the Texas Gulf Coast, green ammonia developments in Spain and biomethanol projects in Saudi Arabia using KBR’s PureMSM green methanol technology. Updates often describe how KBR’s engineering and technology support lower carbon intensity, improved energy efficiency and national energy transition goals.
KBR news also covers major government and defense contracts, including its seat on the Missile Defense Agency’s SHIELD multiple-award contract, readiness and sustainment work for the U.S. Naval Supply Systems Command and Foreign Military Sales support for F/A-18 and EA-18G aircraft. In space, announcements detail testing of next-generation spacesuits with Axiom Space under NASA’s Exploration Extravehicular Activity Services contract.
Investors and industry observers can use this news feed to track KBR’s contract pipeline, geographic reach and areas of technical focus. Regular updates provide context on how the company’s mission technology solutions and sustainable technology solutions segments participate in large-scale infrastructure, defense and space programs around the world.
HomeSafe Alliance LLC, a joint venture led by KBR, has secured a $20B global household goods contract from U.S. Transportation Command, lasting up to 9 years. This contract positions HomeSafe as the exclusive provider for relocating U.S. Armed Forces personnel and families. The alliance aims to enhance relocation services through advanced technology and program management, promising a more efficient moving experience. HomeSafe's digital solutions are set to revolutionize the military moving industry.
KBR announced a three-year extension of its INSITE monitoring and advisory services contract with PT Panca Amara Utama for its Banggai ammonia plant in Indonesia. This plant was the first in Indonesia to utilize KBR's PurifierPlus™ technology. The contract enables KBR to continue providing cloud-based services to optimize plant operations, enhance reliability, and improve energy efficiency while reducing emissions. KBR aims to support PAU's digital transformation and sustainability initiatives.
KBR, Inc. reported robust third-quarter 2021 results with revenues reaching $1.84 billion, a 34% increase year-over-year. The government solutions segment contributed $1.6 billion in revenue, up 54% due to new task orders supporting Operation Allies Welcome. Adjusted earnings per share rose 45% to $0.64. KBR raised its fiscal year 2021 guidance, projecting revenues of $7.2 billion to $7.5 billion. The company also finalized the acquisition of Frazer-Nash Consultancy for $400 million, further enhancing its international presence and ESG capabilities.
KBR announced the appointment of Sonia Galindo as Executive Vice President and General Counsel on October 25, 2021. She brings extensive legal experience from her previous roles at FLIR Systems and Rosetta Stone, along with a solid background in public and private sectors. KBR's CEO, Stuart Bradie, emphasized Ms. Galindo's leadership skills and legal knowledge, which are expected to guide the company in maintaining high ethical standards. This leadership change aims to bolster KBR's strategic growth and operational objectives.
KBR has completed the acquisition of Frazer-Nash Consultancy Limited from Babcock International Group. This strategic move enhances KBR's capabilities in systems engineering and technology advisory services, primarily in the defense, energy, and critical infrastructure sectors within the U.K. and Australia. The acquisition aligns with KBR's goal to deliver innovative solutions globally, leveraging Frazer-Nash's expertise in data science, cyber security, and clean energy. KBR aims to capitalize on market growth opportunities and enhance its service offerings through this integration.
KBR has secured a $126.7 million contract from the U.S. Department of Transportation for Mission Information Technology Support Services. This recompete builds on KBR's extensive experience at the Volpe Center over the past 11 years. The contract, spanning four years, focuses on enhancing safety, cybersecurity, and environmental impact in transportation systems. KBR will deploy its expertise in modern technologies like artificial intelligence and big data analytics. Key projects address aviation safety, traffic management, and infrastructure improvements, underscoring KBR's commitment to advancing public transportation innovation.
KBR (NYSE: KBR) has announced a binding settlement between its joint venture, JKC Australia LNG Pty Ltd, and its client, ICHTHYS LNG PTY, resolving outstanding claims and disputes. This resolution terminates all ongoing arbitrations and court proceedings, reducing liquidity risk and commercial dispute costs. KBR expects to reflect the majority of the settlement's impact in its Q2 2021 results, with a non-material charge anticipated for final warranty items in Q3 2021. The agreement does not affect JKC's claims against its subcontractor for the combined cycle power plant.
KBR (NYSE: KBR) has secured a three-year service contract with EuroChem for its ammonia plant in Kingisepp, Russia, utilizing its KBR INSITE® cloud-based platform. This service aims to enhance plant operations through remote monitoring and advisory services, improving production, reliability, and energy efficiency. KBR's President, Jay Ibrahim, emphasized the importance of safety and sustainability in this collaboration. KBR continues to deliver advanced digital solutions globally, employing around 29,000 people across various sectors.
KBR announced a significant contract with Hanwha Corp. for a dual-pressure nitric acid technology at a new plant in Yeosu, South Korea. Under this contract, KBR will deliver licensing, basic engineering design, and technical support for a plant producing 1,200 metric tons of nitric acid per day, a key ingredient in fertilizers and plastics. This partnership showcases KBR's commitment to energy-efficient technologies, promising benefits in capital and operational expenditures. KBR has successfully licensed 76 nitric acid plants globally, maintaining its position as the leading technology provider in the U.S. market.
KBR announced its selection by ACME Group for a groundbreaking green ammonia project in Oman, utilizing its advanced ammonia technology. The project involves producing 300 metric tons of ammonia daily through an integrated facility powered by solar and wind energy. KBR will provide technology licensing, engineering, proprietary equipment, and commissioning services. This facility aims to export green ammonia to Europe and Asia. KBR holds a 50% share of licensed capacity in ammonia technology and has a proven track record with 244 constructed ammonia plants globally since 1943.
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