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. (NYSE: KBR) generates a steady flow of news through contract awards, technology deployments and program milestones across energy, defense and space. The company’s releases highlight its role in delivering science, technology and engineering solutions to governments and companies worldwide, with a workforce of about 37,000 people serving customers in more than 80 countries and operations in over 29 countries.
On this page, readers can follow KBR news related to LNG and energy transition projects, such as front-end engineering design for the Coastal Bend LNG facility on the Texas Gulf Coast, green ammonia developments in Spain and biomethanol projects in Saudi Arabia using KBR’s PureMSM green methanol technology. Updates often describe how KBR’s engineering and technology support lower carbon intensity, improved energy efficiency and national energy transition goals.
KBR news also covers major government and defense contracts, including its seat on the Missile Defense Agency’s SHIELD multiple-award contract, readiness and sustainment work for the U.S. Naval Supply Systems Command and Foreign Military Sales support for F/A-18 and EA-18G aircraft. In space, announcements detail testing of next-generation spacesuits with Axiom Space under NASA’s Exploration Extravehicular Activity Services contract.
Investors and industry observers can use this news feed to track KBR’s contract pipeline, geographic reach and areas of technical focus. Regular updates provide context on how the company’s mission technology solutions and sustainable technology solutions segments participate in large-scale infrastructure, defense and space programs around the world.
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.
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.