KBR, Inc. (KBR) received a conceptual study contract from one of the world's largest shipbuilders in South Korea — Samsung Heavy Industries (“SHI”).This first-of-its-kind floating ammonia production facility is part of SHI's diversification in the ocean energy business, with a focus on maritime technology. The process will involve KBR's low-carbon blue ammonia process technology and leverage SHI's expertise in the design of mega-floating vessels.KBR’s Technology Business Bodes WellKBR’s focus on a resilient ...

HOUSTON, Sept. 12, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a conceptual study contract for floating blue ammonia production from Samsung Heavy Industries (SHI), one of the world's largest shipbuilders in South Korea.The award is part of SHI's diversification in the ocean energy business, with a focus on maritime technology. The study will utilize KBR's innovative blue ammonia technology, suitable for offshore production, and leverage SHI's expertise in the design of mega flo ...

KBR, Inc. (KBR) has been awarded a contract to continue providing technical design services at HMAS Stirling, advancing Australia's nuclear-powered submarine infrastructure. The contract, granted by the Security and Estate Group and the Australian Submarine Agency, aims to support the Submarine Rotational Force – West, accelerating Australia's capabilities to safely operate and maintain a future nuclear-powered submarine fleet.KBR will integrate Frazer Nash Consultancy, a KBR subsidiary, to deliver nuclear ...

KBR, Inc.’s (KBR) ROSE supercritical Solvent De-Asphalting technology has been chosen by Zhejiang Petroleum & Chemical Co. Ltd. (“ZPC”), a subsidiary of Rongsheng Petrochemical Co. Ltd. in China.Per the contract, KBR will be offering technology licensing and proprietary engineering design to ZPC, intended to upgrade the latter’s residue conversion for higher profitability and operational sustainability.KBR’s ROSE is an innovative supercritical extraction technology designed for safe start-up and reliable pe ...

HOUSTON, Sept. 10, 2024 /PRNewswire/ -- KBR (NYSE: KBR) today announced that it has been awarded a contract to continue to deliver technical design services at HMAS Stirling by the Security and Estate Group and the Australian Submarine Agency. This work will support the sovereign nuclear-powered submarines facilities and infrastructure program, enabling the Submarine Rotational Force (SRF) – West, and accelerating Australia's ability to safely own, operate, maintain and sustain its own future nuclear powere ...

HOUSTON, Sept. 9, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has been awarded a contract for its ROSE® supercritical Solvent De-Asphalting (SDA) technology from Zhejiang Petroleum & Chemical Co. Ltd. (ZPC), a subsidiary of Rongsheng Petrochemical Co. Ltd. in China.Under the terms of the contract, KBR will provide technology licensing and proprietary engineering design to ZPC, the operator of China's largest refinery."We are looking forward to working with ZPC on this unit, which will be th ...

KBR, Inc. (KBR) has been chosen by the Seatrium Group to develop topsides facilities for two floating production storage and offloading (FPSO) units for Petrobras' Atapu and Sepia fields in the Santos Basin, Brazil.These new high-production, energy-efficient units — P-84 and P-85 — are part of Petrobras' latest generation of FPSO platforms, designed for high production capacity and energy efficiency. Each FPSO will be able to produce 225,000 barrels of oil per day and handle 10 Mm³ of gas daily, in line wit ...

HOUSTON, Sept. 5, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded engineering contracts by Seatrium Group to develop topsides facilities for two new high-production, energy-efficient floating production storage and offloading (FPSO) units. The units are being designed for Petrobras' Atapu and Sepia fields in the Santos Basin, Brazil.Under the terms of the contracts, KBR will provide Seatrium with detailed engineering services and technical engineering procurement support for the top ...

Core Insights - KBR has completed the acquisition of LinQuest Corporation, enhancing its capabilities in advanced engineering, data analytics, and digital integration for national security space missions [1][2] - The acquisition aims to strengthen KBR's position in space, air dominance, and connected battlespace missions, serving key U.S. government customers [1][2] - LinQuest's integration into KBR's Government Solutions segment and Defense and Intel business unit will begin immediately, although its financial results will not significantly impact KBR's Q3 2024 results [2] Company Overview - KBR has decades of experience providing mission-critical solutions to customers in national security and space domains, including the Department of Defense and NASA [3] - KBR employs approximately 36,000 people globally, serving customers in over 80 countries and operating in more than 30 countries [4] - LinQuest, with a legacy of 47 years, has over 1,500 team members focused on advanced digital transformation solutions for defense and intelligence missions [5]

Core Viewpoint - KBR Inc. reported mixed Q2 2024 results, with earnings exceeding estimates while revenues fell short, indicating a strong performance in core business areas and an optimistic outlook for the remainder of the year [2][3]. Financial Performance - Adjusted EPS was 83 cents, surpassing the consensus estimate of 79 cents by 5.1% and reflecting a 12% year-over-year increase [3]. - Total revenues reached $1.86 billion, missing the consensus mark of $1.88 billion by 1.6%, but showing a 6% increase year-over-year [3]. - Adjusted EBITDA rose 13% year-over-year to $216 million, with an adjusted EBITDA margin of 11.6%, up 75 basis points [3]. Segment Performance - Government Solutions segment revenues increased 3.3% year-over-year to $1.4 billion, with adjusted EBITDA of $145 million, slightly up from $143 million, but the adjusted EBITDA margin fell 20 basis points to 10.4% [4]. - Sustainable Technology Solutions segment revenues grew 14.2% year-over-year to $458 million, with adjusted EBITDA increasing 22.5% to $98 million and an adjusted EBITDA margin of 21.4%, up 150 basis points [4]. Backlog and Liquidity - Total backlog as of June 28, 2024, was $20.1 billion, down from $21.73 billion at the end of 2023, with Government Solutions contributing $12.89 billion and Sustainable Technology Solutions adding $3.92 billion [5]. - Cash and cash equivalents increased to $414 million from $304 million at the end of 2023, while long-term debt rose to $1.9 million from $1.8 million [6]. Cash Flow and Guidance - Cash provided by operating activities in the first half of 2024 totaled $261 million, down from $288 million in the previous year, with adjusted free cash flow at $226 million, down from $250 million [7]. - Updated guidance for 2024 includes total revenues projected between $7.4 billion and $7.7 billion, adjusted EBITDA between $825 million and $850 million, and adjusted EPS in the range of $3.15 to $3.30 [8]. Market Sentiment - Estimates for KBR have trended downward over the past month, indicating a potential shift in market sentiment [9]. - KBR holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [11].