Core Insights - KBR, Inc. has been awarded a follow-on contract by the U.S. Navy for the development of space science instrument systems, indicating strong government demand for its services [1] - The company is experiencing a winning streak in contracts due to its resilient business model and focus on national security and energy transition [2] - KBR's Sustainable Technology Solutions business is advancing decarbonization initiatives, including a significant contract to provide technology for sustainable aviation fuel production [2] - KBR's financial performance shows a 6% year-over-year revenue increase, with a total backlog of $20.1 billion as of June 28, 2024 [5] - The company has raised its adjusted earnings per share (EPS) projection for 2024, reflecting positive growth expectations [6] Contract Wins and Business Development - KBR has received a five-year, approximately $153 million contract from Naval Test Wings Atlantic and Pacific Aircrew Services [3] - The company has secured $2.1 billion in bookings in strategic areas during the second quarter of 2024, with a trailing 12-month book-to-bill ratio of 1x [5] - The total backlog includes $12.89 billion from Government Solutions and $3.92 billion from Sustainable Technology Solutions [5] Financial Performance - KBR's total revenues for the second quarter of 2024 reached $1.86 billion, supported by growth in Sustainable Technology Solutions and Government Solutions [5] - The adjusted EPS estimate for 2024 has been raised to a range of $3.15-$3.30, indicating an 11.3% year-over-year growth [6] Market Position - KBR's shares have gained 20% year-to-date, although this is below the industry average growth of 29.2% [4] - The ongoing contract wins are expected to enhance KBR's market prospects in the upcoming quarters [4]
KBR Continues to Support US Navy at NRL With SSIEP 3 Contract