KBR (KBR) Stock News

KBR announced that its joint venture with SOCAR is nearing completion of the engineering design phase for the Azeri Central East (ACE) offshore platform. This project utilizes KBR's advanced Digital Twin technology, enhancing project execution by allowing real-time access to project data from anywhere. This technology streamlines operations and makes them more efficient, enabling remote management of tasks. The project is part of KBR's digital transformation initiative in the Caspian Region, with local engineers in Baku supported by a team from London.

KBR has secured a $47 million contract from the U.S. Navy's PMA-265 for foreign military sales support to Kuwait and Finland. This recompete contract includes program management and engineering services for the F/A-18 aircraft and is awarded on a cost-plus-fixed-fee basis. The work will be conducted in Patuxent River, Maryland, over one base year with four option years. KBR aims to enhance national security initiatives for these allied nations, continuing its four-decade support for the F/A-18 program.

KBR, Inc. reported strong Q3 2020 results with revenues of $1,379 million, despite a decline from $1,425 million in Q3 2019. Adjusted EBITDA was $125 million, reflecting solid margins at 9%. The company completed the acquisition of Centauri, enhancing its capabilities in high-end solutions. KBR increased its FY 2020 guidance for GAAP EPS to between $(0.58) to $(0.38) and Adjusted EPS to $1.60 to $1.80. The firm also expects cash flow growth with GAAP operating cash flow guidance set at $375 million to $395 million. Book-to-bill ratio indicates healthy future growth.

KBR has secured an $88 million task order to provide sustainment engineering for the F-16 Fighting Falcon, along with support for the A-10 Thunderbolt II and T-38 Talon aircraft. This five-year contract, awarded by the U.S. Air Force Life Cycle Management Center, aims to enhance operational safety and suitability. KBR's tasks include analyzing aging components and conducting research on corrosion resistance. This marks KBR's fourth consecutive task order for the F-16 program, reflecting its ongoing partnership with the U.S. Air Force.

KBR, Inc. (NYSE: KBR) will host a conference call on October 29, 2020, at 7:30 a.m. CT to discuss its third quarter 2020 financial results. The earnings release and presentation will be available on KBR's website ahead of the call. The conference call will be accessible via webcast, with a replay offered afterward. KBR is a global provider of professional services across various sectors, employing approximately 28,000 people in over 80 countries.

KBR (NYSE: KBR) is co-leading the sponsorship of the virtual Army Ten-Miler (ATM), taking place from Oct. 11-18, 2020. This event, held in response to COVID-19, reflects KBR's commitment to the U.S. Army, having sponsored the race for 15 years. Proceeds support the Army's Family, Morale, Welfare, and Recreation (MWR) program, which has raised over $7.3 million since 1985. KBR emphasizes its role in ensuring troop readiness and delivering critical solutions to the U.S. military.

KBR's Board of Directors has declared a regular quarterly dividend of $0.10 per share on its common stock. The payment will be made on January 15, 2021, to stockholders of record as of December 15, 2020. This announcement reflects KBR's commitment to delivering shareholder value, with approximately 28,000 employees serving customers in over 80 countries.

The press release highlights KBR's ongoing focus on providing differentiated professional services and solutions across government and technology sectors.

KBR, Inc. has successfully acquired Centauri, LLC, enhancing its position in military space and intelligence sectors. This acquisition aims to diversify KBR's offerings in mission support services, leveraging Centauri's expertise in advanced technology solutions for national security. The integration aligns with KBR's strategic transformation to become a leading provider of high-end technical services. KBR anticipates significant growth opportunities and enhanced customer relationships following this acquisition, which could bolster its presence in serving the U.S. government and defense sectors.

KBR announced the pricing of its private offering of $250 million in 4.750% senior notes due 2028. The notes are priced at par and will be senior unsecured obligations of KBR, set to close on September 30, 2020. Interest on the notes will be paid semi-annually, starting March 30, 2021. KBR plans to use the proceeds for the acquisition of Centauri Platform Holdings and other corporate purposes. These notes are being offered to qualified institutional buyers under Rule 144A and are not registered under any securities laws.