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 has signed a Memorandum of Understanding (MoU) with JLB Yaran to enhance engagement with Australian First Nations communities. The agreement, signed during the 2022 Indo Pacific Conference in Sydney, aims to recruit and connect with First Nations peoples for various opportunities across Australia. KBR emphasizes its commitment to empowering First Nations companies in the Australian defense industry. This collaboration is part of KBR's Reconciliation Action Plan, which seeks to improve cultural understanding within the company. The MoU is non-binding and aims for strategic integration with JLB Yaran.
KBR has secured a contract for its K-GreeN® green ammonia technology from JGC Holdings for a pilot project under NEDO's Green Innovation Fund in Fukushima, Japan. This project aims to advance green ammonia adoption, contributing to global decarbonization efforts. As a leader in ammonia technology since 1943, KBR has licensed over 250 ammonia plants globally. Doug Kelly, KBR's President of Technology, emphasizes Japan's role in promoting green ammonia and expresses confidence in future collaborations stemming from this project.
KBR (NYSE: KBR) has initiated electric aircraft test flights for the UK Ministry of Defence as part of its Affinity Joint Venture with Elbit Systems UK. The project focuses on evaluating zero-emission aircraft, supporting the UK Armed Forces' green transformation efforts. The tests, involving the Velis Electro aircraft, will examine technology effectiveness and operational implications. This initiative reinforces KBR's commitment to sustainable solutions, aligning with its history of delivering innovative technologies since 2016.
KBR announced a strong start to 2022 with Q1 revenues reaching $1,714 million, a 17% increase from 2021. Although it reported a diluted loss per share of $(0.51), adjusted EPS rose 29% to $0.62. Operating cash flow stood at $89 million. The company secured $1.2 billion in new contracts, enhancing visibility for its long-term growth. KBR raised its FY 2022 guidance, expecting revenues between $6.4 billion to $6.8 billion and adjusted EPS from $2.53 to $2.65, capitalizing on favorable market trends and robust demand.
KBR has secured a 7-year contract from Saudi Aramco TOTAL Refining and Petrochemical Company (SATORP), with an option for a 3-year extension, to provide General Maintenance Services at the Jubail refinery in Saudi Arabia. The scope includes preventive, predictive, and shutdown maintenance, aimed at optimizing costs and achieving top quartile plant performance. This partnership emphasizes KBR's commitment to Saudization and a Zero Harm safety culture. The company has a 70-year track record in the downstream industry, delivering complex maintenance projects globally.
KBR will host a conference call on April 28, 2022, at 7:30 a.m. Central Time, to discuss its first quarter 2022 financial results. The earnings release and presentation will be available on KBR's website prior to the call. A replay of the webcast will also be accessible post-call. KBR continues to provide vital science, technology, and engineering solutions worldwide, employing around 28,000 people in 34 countries.
KBR has secured a $62 million task order from the U.S. Army to deliver engineering and analysis services over five years. This contract, awarded under the DoD Information Analysis Center Multiple Award Contract, highlights KBR's long-standing collaboration with the Army, having supported the PEO Missiles and Space for over 20 years. The company will operate from Redstone Arsenal, Alabama, enhancing its role in U.S. military support and missile defense systems.
KBR (NYSE: KBR) announced a contract award from Taiwan's CPC Corporation for its ROSE® supercritical Solvent De-Asphalting (SDA) technology and Vacuum Distillation Unit (VDU). This contract includes licensing, basic engineering, and proprietary equipment for the ROSE process, known for its cost-effective residue upgrading and 50% energy savings compared to conventional technologies. KBR aims to enhance clean fuels production and reduce carbon footprints. With a significant global footprint, KBR operates 70 ROSE units worldwide.
KBR announced a conditional settlement with JKC Australia LNG Pty Ltd, which it holds a 30% interest in, to resolve disputes with a consortium that includes General Electric. The agreement is expected to provide KBR with significant cash proceeds of USD$271 million, divided into two payments: USD$203 million in April 2022 and USD$68 million in March 2023. However, KBR anticipates a non-cash loss of approximately USD$140 million in Q1 2022. The settlement is conditional, and ongoing arbitration will continue until all conditions are met.
KBR has secured a contract with DL E&C for NeuRizer's carbon-neutral fertilizer project in Australia. This contract involves technology licensing and engineering for a 1,600 MTPD ammonia plant using KBR's efficient Purifier® process. The facility will be the first fully integrated urea production site globally, incorporating innovative syngas production and carbon geo-sequestration. KBR emphasizes its commitment to sustainability and energy efficiency, aiming to support agriculture in local and export markets.