KBR, Inc. - KBR STOCK NEWS

KBR has been awarded a $199 million contract by the Naval Information Warfare Center Pacific Program Executive Office Digital and Enterprise Services to support the Department of Defense's digital transformation. The five-year contract focuses on enhancing zero-trust capabilities, ensuring secure data flow and edge protection for military operations.

KBR will conduct research, analysis, and testing in critical technology areas including future generation wireless technology, trusted AI, integrated sensing and cyber, network systems-of-systems, space technology, and quantum science. The company's experts will provide recommendations for integrating prototype components into existing information systems to improve reliability and reduce costs.

KBR (NYSE: KBR) has secured a cost-plus-fixed-fee contract from the U.S. Navy for the continued development of space science instrument systems at the Naval Research Lab (NRL) in Washington, D.C. The contract, known as Space Science Instruments and Experimental Payloads (SSIEP) 3, is expected to span five years and involves advanced engineering efforts in various fields.

KBR will provide personnel, equipment, and facilities to support engineering and research activities for the Navy's Space Science Division. The work focuses on the design, development, analysis, fabrication, inspection, assembly, integration, testing, and documentation of sophisticated space science instruments and experimental payloads. This contract maintains KBR's presence at NRL, where it has supported SSIEP 1 and 2 since 2015.

KBR has appointed Nchacha E. Etta to its Board of Directors, effective August 12, 2024. Etta, currently the EVP and CFO of Omnicell, Inc., brings over 20 years of global finance and accounting experience in healthcare and consumer products industries. His career includes senior roles at Essilor of America, Johnson & Johnson Vision, and The Coca-Cola Company. Etta holds a BS in Accounting from George Mason University and an MBA in Finance from Howard University.

KBR's board chairman, General Lester Lyles, welcomed Etta, highlighting his experience with multinational corporations as valuable for KBR's global operations. Etta will serve on the Audit and Sustainability & Corporate Responsibility Committees of the KBR Board.

KBR (NYSE: KBR) has announced a significant agreement with Avina Clean Hydrogen Inc. for its PureSAF℠ sustainable aviation fuel technology. The contract includes technology licensing, engineering design, and front-end engineering design (FEED) for Avina's facility, which aims to produce 120 million gallons of sustainable aviation fuel (SAF) per year.

Developed by Swedish Biofuels and exclusively licensed by KBR worldwide, PureSAF can produce fully fungible jet fuel from various feedstocks, including ethanol, mixed alcohols, carbon dioxide, and synthesis gas. This marks an expansion of KBR's collaboration with Avina, following the selection of KBR's K-GreeN® technology for Avina's green ammonia project in 2023.

The agreement aligns with KBR's commitment to implementing decarbonization technologies and advancing ESG objectives, as the company celebrates 100 years of offering clean fuel solutions in 2024.

KBR has been awarded a $153 million cost-plus-fixed-fee recompete contract to support Naval Test Wings Atlantic and Pacific Aircrew Services over a five-year period. The work will primarily be performed at Naval Air Station (NAS) Patuxent River, Maryland, with additional support at NAS Pt. Mugu and NAS China Lake in California.

Under the contract, KBR will provide aircrew services, engineering technical services, independent analysis, and technical support to the Naval Test Wing air vehicles test mission. This includes support for seven developmental test squadrons, their platform coordination offices, and the United States Naval Test Pilot School.

KBR's extensive experience in aircrew services and flight test support, spanning over 45 years, positions the company as a leader in naval aviation support. The company operates one of the largest independent flight test organizations in the United States.

KBR (NYSE: KBR) has been named NASA's Agency-Level Large Business Prime Contractor of the Year for 2023, a prestigious honor recognizing outstanding support for NASA's small business program. This award builds upon KBR's center-level awards at Goddard Space Flight Center (GSFC) and Johnson Space Center. KBR's win highlights its commitment to critical programs at GSFC, where it holds three prime contracts, including Ground Systems and Missions Operations III.

Byron Bright, KBR Government Solutions U.S. President, emphasized the company's excellence in the space industry and its role as both a prime contractor and mentor to small businesses. KBR has received 13 awards from NASA's Office of Small Business Programs over the past five years, including three at the agency level. The company currently operates across nine NASA locations and is a leading global organization supporting spaceflight.

KBR announced strong Q2 2024 financial results, raising profit and cash flow guidance. Key highlights include:

- Revenue of $1.9 billion, up 6% year-over-year

- Net income of $106 million

- Adjusted EBITDA of $216 million, up 13% year-over-year

- Diluted EPS of $0.79; Adjusted EPS of $0.83, up 12%

- Operating cash flows of $170 million

- Backlog and options totaling $20.1 billion

KBR also announced an agreement to acquire LinQuest for $737 million, expected to accelerate its strategy in high-end technology and mission capabilities. The company updated its FY2024 guidance, projecting revenue of $7.4B-$7.7B and Adjusted EBITDA of $825M-$850M.

KBR (NYSE: KBR) has announced that its blue ammonia technology has been chosen by Shell for the Blue Horizons low-carbon hydrogen and ammonia project in Duqm, Oman. The facility will use KBR's ammonia synthesis loop technology to produce cost-competitive, low-carbon intensity ammonia. KBR will provide licensed proprietary engineering design for a 3,000 metric tons per day ammonia plant, utilizing hydrogen produced by Shell's Blue Hydrogen technology.

Jay Ibrahim, President of KBR Sustainable Technology Solutions, expressed excitement about contributing to Oman's Vision 2040 targets. KBR has been a leader in ammonia technology for decades, having licensed, engineered, or constructed nearly 260 grassroot ammonia plants worldwide since 1943.

KBR has secured an advisory consulting contract from Kuwait Oil Company to develop a nationwide masterplan for producing 17GW of renewables and 25GW of green hydrogen by 2050. The 18-month project involves creating a phased strategy for deploying wind and solar power with storage capabilities, linked to green hydrogen production for domestic industrial use and export. KBR will conduct market analysis, techno-commercial feasibility studies, and train Kuwaiti nationals.

This contract underscores KBR's growing presence in Kuwait and its expertise in energy transition investments. The project aligns with KBR's strategic commitment to sustainability and its long-standing experience in project delivery and technology deployment in the GCC region.