KBR, Inc. - KBR STOCK NEWS

KBR has secured a $40 million recompete task order from the USAF to deliver sustainment engineering for the B-52 Stratofortress. This contract aims to enhance operational viability and reduce total ownership costs over the next five years, primarily executed at Tinker Air Force Base. KBR will conduct reliability analyses and develop maintenance procedures to support the aircraft's integrity. This contract builds on KBR's long-standing relationship with the DoD, as they have participated in similar contracts since 2005.

KBR, Inc. reported its second quarter 2020 financial results, highlighting a revenue of $1.385 billion, down from $1.422 billion in 2019. The company experienced an operating loss of $12 million due to restructuring charges. Adjusted EBITDA stood at $106 million. KBR is undergoing a portfolio transformation, shifting from a three-segment to a two-segment model, focusing on Government Solutions and Technology Solutions. The company has updated FY 2020 EPS guidance to a range of $(0.48) to $(0.18) while reaffirming Adjusted EPS guidance of $1.50 to $1.80, alongside improved cash flow projections.

KBR has secured a $165 million task order to provide engineering services for the U.S. Army's Tactical Aviation and Ground Munitions (TAGM) Project Office. This award, part of a cost-plus, fixed fee contract, continues KBR's 22-year partnership with the Army. The company will enhance missile systems, addressing production issues and integrating these systems across various platforms over the next five years at Redstone Arsenal, Alabama. This initiative aims to improve military capabilities and efficiency in deploying advanced weapon systems.

KBR, Inc. (NYSE: KBR) has announced a conference call scheduled for August 6, 2020, at 7:30 a.m. Central Time to discuss its second quarter 2020 financial results. The earnings release and presentation will be made available on the company’s website prior to the call. The call will be accessible via a webcast on KBR's Investor Relations page, with a replay option available afterward. KBR offers professional services across Government, Technology, and Energy sectors, employing approximately 37,000 people globally.

KBR (NYSE: KBR) has secured a contract with Kutch Specialities Pvt Ltd in India to provide engineering design and advisory services for a grassroots nitrobenzene project. This contract highlights KBR's expertise in producing high-purity nitrobenzene, essential for creating various products like polyurethane foams and pharmaceuticals. The company's patented technology ensures energy efficiency and sustainability in operations. With over 70 years of experience in inorganics, this contract reaffirms KBR's leadership in the purification and processing of strong inorganic acids.

KBR (NYSE: KBR) has secured a catalyst supply contract for a Vinyl Acetate Monomer (VAM) project with Shenghong Refining Petrochemical in China. This agreement signifies KBR's first commercial VAM technology license and engineering contract under a partnership with Showa Denko K.K. The VAM unit, which has a capacity of 300 KTA, leverages over 40 years of operational experience from Showa Denko's facility in Japan. The contract enhances KBR's presence in the VAM market and demonstrates its capability in providing advanced technology solutions.

KBR has been awarded a $42.5 million task order from the Naval Air Systems Command (NAVAIR) to support the development of technical training products. This recompete task order, under the Department of Defense Information Analysis Center's multiple-award contract, aims to upgrade and modernize training systems. Work will span 60 months and involve collaboration with various military divisions. KBR has a longstanding relationship with NAVAIR, having delivered over $3 billion in solutions since 2005. The project emphasizes KBR's commitment to enhancing military readiness through innovative training solutions.

On June 29, 2020, KBR (NYSE: KBR) announced that its Solvent Deasphalting (SDA) Technology, ROSE®, has been chosen by Uruguay's ANCAP for a strategic upgrade project. KBR will provide technology licensing, basic engineering design, and proprietary equipment for a 6,000 BPSD ROSE unit. This partnership aims to enhance operational flexibility, produce cleaner products, and reduce environmental impact. KBR has licensed over 90% of the global SDA capacity, indicating strong demand for its ROSE technology.

KBR has entered a memorandum of understanding with L&T Hydrocarbon Engineering to pursue refinery and petrochemical projects. Under this agreement, KBR will provide its proprietary technologies, including K-SAAT (solid acid alkylation), ROSE (solvent de-asphalting), and K-COT (catalytic olefins), while LTHE will serve as the EPC provider. This collaboration aims to establish opportunities primarily in India, Southeast Asia, the Middle East, and Africa. The partnership combines KBR's expertise with LTHE's capabilities, enhancing project delivery and operational efficiencies in the petrochemical sector.