HOUSTON, March 17, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE:KBR) announced today it has been awarded a $176M cost plus fixed-fee, indefinite delivery indefinite quantity (IDIQ) contract by the Air Force Research Laboratory (AFRL) to provide operations and equipment maintenance support to the Air Force Maui Optical and Supercomputing Site (AMOS), in Maui, Hawaii.   The single award Advanced Space Technology Research and Optimization (ASTRO) contract has a $176M ceiling and will include multiple task orders. Under ...

KBR, Inc. (KBR) has won an $85 million firm-fixed-price task award from the U.S. Air Force to design, fabricate, and deliver critical airfield damage repair kits worldwide. The contract, known as the AM-2 Matting task award, falls under the Air Force Contract Augmentation Program (AFCAP) and reinforces KBR’s expertise in global sustainment and procurement solutions.KBR’s Role in the ContractUnder the AM-2 task award, KBR will supply and deliver essential airfield matting kits to U.S. Air Force locations wor ...

HOUSTON, March 10, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today it has been awarded a firm fixed price, $85M task award by the U.S. Air Force to procure, design and deliver critical training aids and airfield damage repair kits globally. The AM-2 Matting task award falls under the Air Force Contract Augmentation Program (AFCAP) contract. Under the AM-2 task award, KBR will fabricate, design, assemble, supply, package and deliver various types of airfield matting kits to U.S. Air Force locations ...

HOUSTON, Feb. 26, 2025 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has been awarded a contract for Project Management Consultancy (PMC) services by AMUFERT to support the development of its fertilizer plant in Soyo, Angola. As part of this transformative $2 billion project, KBR will provide project management services overseeing engineering, procurement, and construction phases. The 2,300 metric tons per day (MTPD) ammonia and 4,000 MTPD urea facility, is designed to enhance agricultural product ...

Business Strategy and Growth - KBR's operating model has shifted towards agile, technology-driven, solutions-oriented delivery, aiming for attractive returns and consistent growth with favorable cash conversion[25]. - Key strategic focus areas include National Security and Defense, Sustainable Energy and Industrial Technologies, and advanced digital solutions such as artificial intelligence and machine learning[26][27]. - KBR's acquisition strategy focuses on moving upmarket, expanding capabilities, and broadening customer sets across strategic growth vectors[27]. - The company plans to report new segment information starting in the first fiscal quarter of 2025 following a realignment of business segments[35]. - The company acquired LinQuest Corporation in fiscal 2024, enhancing capabilities in advanced technology solutions for defense and space missions[32]. Sustainability and Environmental Initiatives - KBR has achieved carbon neutrality annually since 2019 and has established a net-zero carbon ambition, positioning itself as an industry sustainability leader[29]. - The company has a portfolio of over 85 innovative, sustainable, proprietary process technologies aimed at promoting a cleaner, greener future[29]. - The Sustainable Technology Solutions segment includes over 85 proprietary technologies aimed at reducing emissions and accelerating energy transition[33]. - The company launched its Sustainable Aviation Fuel technology (PureSAF) in 2023 to enhance decarbonization efforts in the aviation sector[58]. - The company has developed proprietary technologies for converting natural gas to ammonia and for transforming waste plastics into commercial raw materials[58]. Financial Performance and Revenue - Government Solutions segment generated $4,382 million in revenue, accounting for 57% of consolidated revenues for the year ended January 3, 2025[40]. - U.K. government contracts contributed $674 million, representing 9% of consolidated revenues for the same period[40]. - Backlog of unfulfilled orders was estimated at $17,264 million as of January 3, 2025, with approximately 40% expected to be recognized as revenue in fiscal year 2025[49]. - The company recorded a net loss of $3 million for fiscal 2024, a net loss of $6 million for fiscal 2023, and a net gain of $4 million for fiscal 2022 in other non-operating income (expense) on consolidated statements of operations[292]. Operational Excellence and Capabilities - The company emphasizes operational expertise in areas such as C5ISR, cyber analytics, and military aviation support, catering primarily to U.S. and allied government agencies[26]. - KBR's competitive advantages include a distinctive team ethos, technical excellence, and strong customer relationships, which are essential for delivering mission-focused solutions[29]. - The company leverages advanced digital capabilities to improve operations, reliability, and environmental impact, including the use of virtual and augmented reality for training[29]. - Joint ventures include Aspire Defence Limited and Affinity, enhancing service delivery and risk diversification[41][43]. - The company operates under various contract types, including fixed-price and cost-reimbursable contracts, impacting revenue recognition and risk management[53][56]. Workforce and Talent Management - The company employs approximately 38,000 people across over 29 countries, with an additional 10,000 employees in unconsolidated joint ventures[65]. - In fiscal 2024, the company hired over 8,600 employees to support strategic growth targets[84]. - The employee participation rate in the People’s Perspective survey increased by 10% in fiscal 2024, with a significant majority reporting that KBR is a great place to work[81]. - The company’s Talent Calibration conversations covered over 5,000 employees, leading to individual career plans and enhanced succession planning[79]. - The company’s Global Leadership Development Program is expanding to develop future executive leaders through strategic thinking and executive skills training[78]. - The company has implemented a comprehensive Talent Acquisition strategy, resulting in improved process consistency and enhanced hiring capabilities[83]. Financial Position and Risk Management - Strong liquidity position allows for growth opportunities despite market fluctuations and procurement challenges[37][57]. - As of January 3, 2025, the company had $345 million of borrowings under the Revolver and $1,999 million outstanding under the term loan portions of the Senior Credit Facility[293]. - The company entered into additional interest rate swap agreements during fiscal 2024, with a notional amount of $400 million at a fixed rate of 0.89% and $350 million at a fixed rate of 3.43%[294]. - The fair value of the interest rate swaps at January 3, 2025, was a $37 million net asset, with $19 million included in other current assets and $18 million in other assets[294]. - The company had fixed rate debt aggregating $1,543 million and variable rate debt aggregating $1,051 million as of January 3, 2025[295]. - The weighted average interest rate for fiscal 2024 was 5.52%[295]. - If interest rates increase by 50 basis points, pre-tax interest expense would increase by approximately $5 million in the next twelve months[295]. Safety and Health Performance - The total recordable incident rate for health and safety performance was 0.050, indicating industry-leading safety performance[72].

KBR, Inc. (KBR) delivered a solid fourth-quarter 2024 performance, surpassing expectations on both revenues and earnings. The top and bottom lines increased on a year-over-year basis.See the Zacks Earnings Calendar to stay ahead of market-making news.KBR stock gained 2.1% during the trading session and 4.3% in the after-hours trading session yesterday, following the earnings release.KBR had a strong year, delivering revenue and earnings growth, margin expansion and maintaining its industry-leading safety re ...

KBR, Inc. (NYSE:KBR) Q4 2024 Earnings Conference Call February 24, 2025 4:00 PM ET Company Participants Jamie DuBray - VP, IR Stuart Bradie - President and CEO Mark Sopp - EVP, CFO Conference Call Participants Brent Thielman - D.A. Davidson Mariana Perez Mora - Bank of America Steven Fisher - UBS Jerry Revich - Goldman Sachs Michael Dudas - Vertical Research Andy Kaplowitz - Citigroup Sangita Jain - KeyBanc Operator Good afternoon. Thank you for attending today's KBR's Fourth Quarter and Full Year 2024 Earn ...

KBR Inc. (KBR) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.64%. A quarter ago, it was expected that this the engineering, construction company would post earnings of $0.83 per share when it actually produced earnings of $0.84, delivering a surprise of 1.20%.Over the last four qu ...

Financial Performance - Revenues for Q4 2024 were $2.1 billion, up 23% year-over-year, with a 15% organic growth[4] - Adjusted EBITDA for Q4 2024 was $228 million, an increase of 21%, resulting in an Adjusted EBITDA margin of 10.7%[6] - Net income attributable to KBR for Q4 2024 was $76 million, up 262% compared to the prior year[5] - Full fiscal year 2024 revenues reached $7.7 billion, an 11% increase, with Adjusted EBITDA of $870 million, up 16%[3] - Total revenues for the three months ended January 3, 2025, were $2.122 billion, compared to $1.730 billion for the same period in 2023, marking a year-over-year increase of approximately 23%[24] - Net income attributable to KBR for the year ended January 3, 2025, was $375 million, a significant recovery from a net loss of $265 million in the previous year[24] - Adjusted EBITDA for the year ended January 3, 2025, was $870 million, up from $747 million in the prior year, representing a growth of approximately 16%[24] - The company reported a diluted EPS of $2.79 for the year ended January 3, 2025, compared to a diluted loss per share of $1.96 in the previous year[24] - Net income for the year ended January 3, 2025, was $381 million, a significant improvement from a net loss of $261 million for the year ended December 29, 2023[28] - Adjusted EPS for the year ended January 3, 2025, was $3.34, compared to $2.91 for the year ended December 29, 2023, indicating improved earnings performance[36] Shareholder Returns - The company returned $297 million to shareholders in fiscal year 2024 through share repurchases and dividends[13] - A 10% increase in the quarterly dividend to $0.165 per share was approved, payable on April 15, 2025[14] Guidance and Projections - KBR's fiscal year 2025 revenue guidance is projected to be between $8.7 billion and $9.1 billion, representing a growth of 12% to 18% with a midpoint increase of 15%[17] - Adjusted EBITDA for fiscal year 2025 is expected to range from $950 million to $990 million, indicating a growth of 9% to 14% with a midpoint increase of 11%[17] - Adjusted EPS is forecasted to be between $3.71 and $3.95, reflecting an increase of 11% to 18% with a midpoint growth of 15%[17] - Operating cash flows are anticipated to be between $500 million and $550 million, showing growth of 8% to 19% with a midpoint increase of 14%[17] Backlog and Bookings - Bookings and options for Q4 2024 totaled $2.0 billion, maintaining a book-to-bill ratio of 1.0x[6] - KBR's backlog and options as of the fiscal year end totaled $21.2 billion, with a book-to-bill ratio of 1.1x on a trailing-twelve-month basis[4] Acquisitions and Strategic Moves - KBR acquired LinQuest, enhancing its capabilities in advanced engineering and data analytics for national security[2] - The company executed a realignment of its segments to enhance customer service and reduce costs, effective for fiscal 2025[15] Cash Flow and Assets - KBR's total assets increased to $6.663 billion as of January 3, 2025, compared to $5.565 billion as of December 29, 2023, reflecting a growth of approximately 19.7%[26] - Total cash flows provided by operating activities increased to $462 million for the year ended January 3, 2025, compared to $331 million for the previous year[28] - Cash and cash equivalents at the end of the period increased to $350 million from $304 million at the beginning of the period[28] Liabilities and Debt - KBR's total liabilities increased to $5.196 billion as of January 3, 2025, up from $4.171 billion as of December 29, 2023, indicating a growth of approximately 24.5%[26] - The company reported a total of $574 million in borrowings on short-term and long-term debt for the year ended January 3, 2025, compared to no borrowings in the previous year[28] - Interest expense increased to $144 million for the year ended January 3, 2025, from $115 million for the previous year, indicating higher borrowing costs[32] Operating Performance - Operating income for the Global Solutions segment was $453 million for the year ended January 3, 2025, compared to $285 million for the previous year, showing strong growth[34] - Operating cash flows for the three months ended January 3, 2025, were $40 million, down from $83 million for the same period in 2023[39] - Adjusted operating cash flows for the year ended January 3, 2025, were $462 million, slightly down from $463 million in 2023[39] - Operating cash conversion for the three months ended January 3, 2025, was 33%, significantly lower than 88% in the same period of 2023[39] - Adjusted operating cash conversion for the year ended January 3, 2025, was 103%, down from 117% in 2023[39] - Operating cash flow per adjusted share for the three months ended January 3, 2025, was $0.30, compared to $0.61 in the same period of 2023[39] - Adjusted operating cash flow per adjusted share for the year ended January 3, 2025, was $3.45, up from $3.40 in 2023[39] Legal Settlements - The legacy legal settlement after tax was $132 million in 2023, which did not recur in 2025[39]

Core Insights - KBR, Inc. reported strong financial performance for the fourth quarter and fiscal year 2024, with significant revenue and earnings growth, as well as margin expansion [2][4][7] - The company has issued guidance for fiscal year 2025, projecting revenue growth of 12% to 18% and adjusted EBITDA growth of 9% to 14% [20] Fiscal Year 2024 Highlights - Revenues for the fourth quarter reached $2.1 billion, a 23% increase from the previous year, driven by growth across all Government Solutions business units and contributions from the LinQuest acquisition [4][10] - Adjusted EBITDA for the fourth quarter was $228 million, up 21%, with an adjusted EBITDA margin of 10.7% [6][7] - Net income attributable to KBR for the fourth quarter was $76 million, a 262% increase compared to the prior year [5][7] - For the full fiscal year 2024, revenues totaled $7.7 billion, an 11% increase, and adjusted EBITDA was $870 million, up 16% [7][8] Segment Performance - Government Solutions segment revenues were $1.6 billion for the fourth quarter, up 20%, with adjusted EBITDA of $150 million [10][11] - Sustainable Technology Solutions segment revenues reached $524 million, a 30% increase, with adjusted EBITDA of $108 million [12][13] Cash Flow and Capital Deployment - Operating cash flows for the fiscal year were $462 million, with a cash conversion rate of 103% [15][40] - The company returned $297 million to shareholders through share repurchases and dividends during the fiscal year [15][18] Backlog and Bookings - As of the fiscal year end, backlog and options totaled $21.2 billion, with a book-to-bill ratio of 1.0x for the quarter [8][12] - Bookings for the fourth quarter were $2.0 billion, maintaining a book-to-bill ratio of 1.0x [7][8] Fiscal Year 2025 Guidance - KBR projects revenues between $8.7 billion and $9.1 billion for fiscal year 2025, with adjusted EBITDA expected to be between $950 million and $990 million [20][21] - The company anticipates adjusted EPS to range from $3.71 to $3.95, reflecting an increase of 11% to 18% [20]