KBR, Inc. - KBR STOCK NEWS

KBR has secured an $82 million cost-plus-fixed-fee task order from the United States Air Force for the Air Force Life Cycle Management Center to support the B-52 System Program Office at Tinker AFB, Oklahoma. This contract, under the IAC MAC, spans five years and covers areas such as reliability, maintainability, quality, supportability, and interoperability (RMQSI) issues. KBR will focus on system and structural sustainability, component testing, cybersecurity, and obsolescence. Tasks also include reliability analysis, development of non-destructive inspection techniques, and maintenance procedures. KBR highlights its ongoing 8-year involvement with the B-52 program and reinforces its strategic partnership with the Department of Defense.

KBR has been chosen as one of 11 awardees for a $43 billion multiple-award contract by the Defense Health Agency to provide health and wellness support for military personnel and their families. Under the Medical Q Coded Support and Services Next Generation (MQS2-NG) contract, KBR will bid on task orders to supply dental, physician, and nurse medical services at Department of Defense Military Treatment Facilities (MTFs) across the U.S. and strategic overseas locations. The contract runs from 2024 to 2034, with options, enhancing KBR's long-standing commitment to supporting military and NASA personnel.

KBR and Sumitomo Chemical have formed an alliance to make KBR the exclusive licensing partner for Sumitomo Chemical's propylene oxide by cumene (POC) technology. Propylene oxide, used in polyurethanes for construction, industrials, and automotive industries, is central to this agreement. Sumitomo Chemical's technology is noted for its minimal carbon footprint, lower wastewater generation, and optimized energy recovery, ensuring high yield and safe operations. KBR's global reach and engineering expertise will help deliver this technology worldwide, complementing its existing phenol technology.

This collaboration aligns with KBR's commitment to sustainability and provides an environmentally friendly solution to global clients, helping them achieve their sustainability goals while maximizing the value of propylene derivatives.

KBR announced that its Board of Directors has declared a regular quarterly dividend of $0.15 per share on the company's common stock.

The dividend is payable on July 15, 2024, to stockholders of record as of June 17, 2024.

This dividend reflects the company's ongoing commitment to returning value to its shareholders.

KBR has been awarded a contract by OCI Global to design and deploy an operator training simulator for OCI's Texas Blue Clean Ammonia facility. The simulator aims to maximize ammonia yield, improve energy efficiency, and reduce greenhouse gas emissions. This partnership highlights KBR's commitment to supporting energy transition efforts through innovative digital solutions.

KBR, Inc. showcased enduring growth and a confident outlook at the 2024 Investor Event, setting ambitious financial targets for 2027. The company aims to exceed $1.15 billion in Adj. EBITDA by 2027, with double-digit profit and cash flow growth. KBR's leadership team highlighted the company's market positioning, digital and technical offerings, and operational disciplines, expressing confidence in sustained high performance. The 2027 long-term targets include revenues over $11.5 billion, Adj. EBITDA margin of 10-11%, operating cash flows of $700 million, and cumulative deployable free cash of around $2.0 billion. KBR's transformation into a global tech leader positions it for continued growth.

KBR has been awarded a $2 billion contract by the U.S. Navy for global contingency services, lasting 8.5 years. The contract aims to provide critical support for U.S. Navy facilities worldwide, including IT support, force protection, healthcare, and more. KBR's expertise in supporting the military positions them well to fulfill the Navy's needs efficiently.

KBR has secured a $34 million contract with the U.S. Naval Research Laboratory for facility operations, maintenance, and security in Washington, D.C. over a five-year period. The contract includes expanded services such as staffing the NRL visitor's center, cybersecurity support, and maintenance of controlled areas.

KBR has been awarded a $100m contract by the UK Ministry of Defence to provide heavy lift movement services for the British Army, including the operation and maintenance of Heavy Equipment Transporters (HET) for the next three years. This contract reinforces KBR's long-standing support for the UK MOD and enhances the logistic movement capabilities of the British Army.