KBR, Inc. - KBR STOCK NEWS

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.

KBR, Inc. announced strong Q1 2024 financial results with Adjusted EBITDA growth and margin expansion. New business awards and backlog were robust, totaling $20.8 billion. Sustainable Technology Solutions and Government Solutions segments performed well, with notable achievements and contracts. Financial highlights include revenue of $1.8 billion, net income of $93 million, Adjusted EBITDA of $207 million, and operating cash flows of $91 million. The company reaffirmed fiscal 2024 guidance with revenue expected between $7.4B - $7.7B and Adjusted EBITDA in the range of $810M - $850M.

KBR has been awarded $771 million in contract options to provide logistics and life support services to the U.S. Army Northern Command and European Command. The contract period is from March 2024 to March 2025. KBR will continue to support approximately 20,000 U.S. government personnel across Europe and North America, offering services like equipment readiness, training, and supply chain solutions. The company also focuses on sustainable energy solutions to reduce carbon emissions and fuel consumption.

KBR has been awarded a contract by SABIC Fujian Petrochemicals to license its phenol technology for a plant in China. The project is expected to be completed by FY 2026, offering sustainable solutions with reduced energy consumption and improved yields.

KBR has secured a contract to provide its green ammonia technology, K-GreeN®, for Fortescue's Holmaneset green energy project in Norway. The agreement includes technology license, engineering design, and FEED support services for a 675 metric tonnes per day green ammonia plant. KBR aims to contribute to decarbonization efforts and advance Fortescue's ESG objectives.

KBR and GeoLith have entered into an exclusive alliance to offer advanced, zero-emission lithium technology globally. The alliance agreement allows KBR to be the exclusive global licensor of GeoLith's Li-Capt® technology, enabling zero-emission lithium extraction from untapped sources like geothermal and oil well brines. This technology, combined with KBR's existing suite of battery material technologies, provides an end-to-end solution for producing battery-grade lithium carbonate or lithium hydroxide monohydrate.