KBR, Inc. - KBR STOCK NEWS

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.

On June 18, 2024, KBR (NYSE: KBR) announced a five-year, $46 million contract with the Iraqi government to support infrastructure and energy projects. KBR will provide advisory and consultancy services to the Ministry of Planning, focusing on economic planning, strategy development, feasibility studies, technical reviews, and project management. The initiative aims to enhance Iraq's economic and social landscape through sustainable development. KBR plans to establish an operational office in Baghdad and potentially build an engineering design center to elevate local engineering skills.

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.