Welcome to our dedicated page for KBR news (Ticker: KBR), a resource for investors and traders seeking the latest updates and insights on KBR stock.
KBR, Inc. provides science, technology, engineering, mission support, and long-term operations and maintenance services to government and commercial customers worldwide. News about KBR commonly centers on its Mission Technology Solutions contract awards, including U.S. military logistics, base operations, data analytics, aviation safety, transportation systems, and readiness support under programs such as AFCAP V and LOGCAP V.
KBR updates also cover quarterly financial results, bookings, margins, share repurchases, and technology initiatives. Its Sustainable Technology Solutions activity includes engineering and project delivery for energy-sector technologies, including lithium extraction, refining, and conversion offerings such as PureLi and alliance-based deployment of Li-Capt technology.
KBR has secured an estimated $88 million task order contract from the Department of Defense Information Analysis Center (DoD IAC). The five-year contract, primarily based at Naval Air Station Patuxent River, focuses on rapid prototyping of new technologies for unmanned aviation platforms. KBR will develop and integrate new technologies into existing platforms, mature designs into producible products, and demonstrate these technologies in realistic environments.
This recompete win builds on KBR's 15-year track record of supporting unmanned systems across all four UAS program offices, including platforms such as ExTUAS, MQ-4C Triton, MQ-9A Reaper, and MQ‑25A Stingray.
KBR has secured a $445 million cost-plus-fixed-fee contract for the Joint Mission Environment Test Capability (JMETC) program under the Department of Defense Information Analysis Center. This five-year recompete contract supports the Office of the Secretary of Defense's Test Resource Management Center (TRMC).
The company will enhance JMETC's capabilities by researching, assessing, and addressing test and experimentation requirements across multiple DoD locations. The JMETC environment provides infrastructure for joint distributed test events by integrating live, virtual, and constructive test resources.
Building on 24 years of support, KBR has expanded its expertise in critical technology areas including AI/ML, hypersonics, big data, cybersecurity, and event support for large force exercises.
KBR has signed an agreement with AMUFERT to develop a new ammonia plant in Soyo, Angola. The contract includes technology licensing, engineering design, equipment, and catalyst solutions for a 2,300 metric tons per day facility. The project aims to enhance food security and self-sufficiency in Angola and neighboring countries. KBR, a global leader in ammonia technology, has been involved in over 260 grassroot ammonia plants worldwide since 1943.
KBR has secured a front-end engineering design (FEED) contract for the expansion of the Qalhat LNG complex in Sur, Oman. The project involves engineering services for the complex's fourth LNG train with a capacity of 3.8 million tons per annum, including the addition or expansion of utilities, an LNG tank, jetty, and associated infrastructure. The expansion aims to enhance Oman's natural gas liquefaction capacity to meet rising global energy demands while focusing on sustainable operations.
KBR reported strong Q3 2024 financial results with revenue reaching $1.9 billion, up 10% year-over-year. Net income was $100 million, with Adjusted EBITDA of $219 million, up 18%. The company secured $3.3 billion in new bookings with a 1.2x book-to-bill ratio. Notable achievements include the strategic acquisition of LinQuest and multiple contract wins in both Government Solutions and Sustainable Technology Solutions segments. Based on strong performance, KBR raised its 2024 guidance, projecting revenue of $7.5B-$7.7B and Adjusted EBITDA of $840M-$870M.
KBR has released its 2023 Sustainability and Corporate Responsibility Report, showcasing significant progress in sustainability across its operations. The report highlights KBR's commitment to delivering sustainability-focused solutions and putting people first.
Key achievements include:
- 37% sustainability-driven revenue in 2023, totaling $2.5 billion
- Industry-leading health and safety milestones, with 93% incident-free days and a global total recordable incident rate of 0.064
- AAA ESG rating from MSCI and a Gold Sustainability Rating from Ecovadis
- Recognition as one of America's Climate Leaders by USA Today
- Certification as a Great Place to Work® in multiple countries
- Enhanced inclusion and diversity efforts through partnerships and the launch of new employee resource groups
KBR President and CEO Stuart Bradie emphasized the company's focus on creating a safer, more secure, and sustainable world while prioritizing ethical practices and employee well-being.
KBR (NYSE: KBR) has announced a regular quarterly dividend of $0.15 per share on its common stock. The dividend will be paid on January 15, 2025, to stockholders of record as of December 13, 2024. This declaration by KBR's Board of Directors demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments.
KBR (NYSE: KBR) has been awarded an engineering and procurement services contract for the Beachfield Manatee upgrade, part of Shell's Manatee gas field project in Trinidad and Tobago. This follows KBR's successful delivery of front-end engineering design for the entire Manatee project.
The Manatee gas field, located in the East Coast Marine Area, supports global energy security and natural gas production, providing gas for the country's Atlantic LNG facility. KBR's involvement underscores its strong presence in the LNG market and its commitment to supporting clients in the energy transition, with gas playing a key role in the energy mix.
Jay Ibrahim, President of Sustainable Technology Solutions at KBR, emphasized the company's capabilities in energy security and its role in providing reliable natural resources to meet long-term energy needs while supporting the energy transition.
KBR (NYSE: KBR) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Wednesday, October 23, 2024, at 6:30 a.m. Central Time (7:30 a.m. Eastern Time). The company plans to release its Q3 2024 earnings report and presentation prior to the call, which will be accessible on KBR's website. Investors and interested parties can join the conference call via a live webcast through the Investor Relations section of KBR's website at investors.kbr.com. For those unable to attend the live event, a replay of the webcast will be made available on the company's website, and a telephone replay can be accessed at +1 866 813 9403 using the passcode: 158025.
KBR has been awarded an estimated $113 million task order to perform aeronautical systems research, development, test and evaluation for the Air Force Life Cycle Management Center Mobility Directorate at Wright-Patterson Air Force Base, Ohio. The contract, spanning five years, was awarded under the Department of Defense Information Analysis Center's multiple-award contract vehicle.
Under this contract, KBR will provide program management analysis, engineering, logistics analysis, security and cybersecurity analysis, test and evaluation, and administrative analysis. The work will support the Future Tankers Program Office, informing programs such as Next Generation Air-refueling System (NGAS) development and the recapitalization of legacy tanker aircraft mission systems.
KBR's involvement aims to accelerate the U.S. Air Force's digital transformation journey, focusing on Digital Material Management (DMM) implementation to achieve cost and schedule savings while producing lower-risk and higher-confidence military systems with shorter timelines.