KBR, Inc. - KBR STOCK NEWS

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.

Madison Dearborn Partners (MDP) has announced the sale of LinQuest, a leader in National Security space systems and technology solutions, to KBR (NYSE: KBR) in an all-cash transaction. The deal is expected to close by Q4 2024, subject to regulatory approval. LinQuest, acquired by MDP in 2018, has grown significantly under their partnership, nearly tripling headcount and quadrupling EBITDA.

LinQuest specializes in digital engineering & integration, advanced analytics, and electronic warfare solutions for the U.S. federal government's Space, Air Dominance, and Connected Battlespace missions. The company has secured over $850 million in contract awards in the past year and is well-positioned for future growth in the rapidly evolving National Security space sector.

KBR (NYSE: KBR) has announced a definitive agreement to acquire LinQuest for $737 million. LinQuest specializes in engineering, data analytics, and digital integration for national security missions. This acquisition is expected to:

1. Expand KBR's technical capabilities across air, space, and digital domains
2. Enhance opportunities for revenue growth
3. Strengthen KBR's position in high-end, technically differentiated services
4. Add over 1,500 employees, with 74% holding security clearances

The transaction is anticipated to close in Q3 or Q4 of 2024 and is expected to be accretive to adjusted EPS. KBR will use a combination of cash and existing debt capacity to fund the acquisition.

KBR has secured a $52 million, 60-month cost-plus-fixed-fee task order from the U.S. Department of Defense under the Information Analysis Center Multiple Award Contract (IAC MAC). This contract involves supporting the Counter Improvised Threat Systems Test and Evaluation for the Naval Air Warfare Center Weapons Division's Quick Reaction Capability Office.

KBR will lead research, analysis, and evaluation to mitigate improvised threats, providing quality data products. The contract includes requirements analysis, quick reaction test planning, execution and reporting, prototyping, and continuous evaluation of evolving test methodologies.

The project will enhance counter IT systems' effectiveness and survivability, addressing critical technology areas like Future G wireless technology, advanced materials, integrated network systems-of-systems, microelectronics, and directed energy. Byron Bright, President of Government Solutions U.S., emphasized KBR's commitment to supporting the U.S. military with expertise and innovative solutions.

KBR (NYSE: KBR) announced that its green ammonia technology, K-GreeN®, has been chosen by OCIOR Energy for a new plant in Gopalpur, Odisha, India. This will be the 10th KBR-licensed green ammonia plant globally and the first in India. The plant will have a capacity of 600 metric tons per day. KBR will supply a technology license, proprietary engineering design, equipment, and catalyst solutions. The project aims to achieve an optimal levelized cost of ammonia production, aiding the region in meeting decarbonization goals. KBR's President, Jay Ibrahim, highlighted the company's role in the green energy value chain, emphasizing its commitment to net-zero targets. OCIOR Energy's CEO, Ranjit Gupta, expressed confidence in KBR's expertise to make the project a benchmark in green fuels production. KBR has a long history in ammonia technology, having been involved in nearly 260 ammonia plants since 1943.

KBR announced it will host a conference call to discuss its Q2 2024 financial results on Wednesday, July 24, 2024, at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). The company will release its earnings report and presentation prior to the call, both of which will be available on KBR's website. The call will be webcast live on the Investor Relations section of KBR's website, and a replay will be accessible post-call via the website or by phone at +1.866.813.9403, passcode: 159687.