KBR awarded UK MOD contract for delivery of Nano UAS » 06:1403/0103/01/21
KBR announced the UK…
KBR announced the UK Ministry of Defence, or MOD, awarded the company with a contract for the delivery of Nano Unmanned Air Systems, or UAS, to support technological experimentations with the British Army and the Future Capability Group. KBR's Government Solutions EMEA business will utilize its established services integrator approach to merge technologies with service delivery including training, logistics and technical support. The team is working with UK-based Evolve Dynamics, an engineering company specializing in UAS, to ensure timely delivery of systems for use by MOD personnel in the UK and overseas, and across a wide range of environments.
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KBR price target raised to $38 from $37 at Citi » 06:1802/2302/23/21
Citi analyst Andrew…
Citi analyst Andrew Kaplowitz raised the firm's price target on KBR to $38 from $37 and keeps a Buy rating on the shares. KBR's better than expected Q4 earnings and "solid" fiscal 2021 guidance highlight the company's exposure to favorable end markets such as intelligence, cyber and space, Kaplowitz tells investors in a research note. The analyst thinks KBR could see "continued tailwinds" in fiscal 2021.
KBR sees FY21 adjusted EPS $2.00-$2.20, consensus $2.07 » 05:5802/2202/22/21
Sees FY21 revenue…
Sees FY21 revenue $5.8B-$6.2B, consensus $5.95B. Sees FY21 operating cash flow $250M-$290M. Sees FY21 effective tax rate 25%-26%.
KBR reports Q4 adjusted EPS 51c, consensus 48c » 05:5602/2202/22/21
Reports Q4 revenue…
Reports Q4 revenue $1.47B, consensus $1.51B. Stuart Bradie, president and CEO of KBR, said, "2020 was a year of significant achievement for KBR, as we successfully advanced our long-term vision. We accelerated growth into attractive markets with the Centauri acquisition, strategically focused our commercial portfolio toward clean, sustainable solutions, and significantly advanced our corporate ESG and sustainability strategy, committing to net-zero carbon emissions by 2030 and achieving carbon neutrality in 2019. Throughout the year, our team of teams delivered outstanding safety and operational performance, generated healthy profit and superb cash flow, drove innovation with technology advances and expanded our footprint through new program wins. Our progress is underscored by the strong book-to-bill achieved by our Government and Sustainable Tech businesses that underpins the 2021 guidance we are announcing today. Looking ahead, I am confident KBR is well-positioned to continue driving growth and value for our stakeholders, and I would like to thank our 29,000 people for their perseverance, agility and teamwork through an unusual year."
KBR awarded $539M engineering task order from U.S. Air Force » 06:1802/1802/18/21
KBR won a $539M…
KBR won a $539M engineering task order to support rapid prototyping and fielding of systems for the U.S. Air Force's Tactical Exploitation of National Capabilities, or TENCAP, program. TENCAP takes national space capabilities and applies them at the tactical level to support operational requirements. KBR will assist the Air Force in using air, space and cyber capabilities to deliver technologies and systems for the U.S. military. This new work will include engineering services in support of geolocation tracking; sensor, data fusion and dissemination; unconventional warfare and special operations; situational awareness; cyber and spectrum warfare operations; air superiority; command, control and spectrum utilization; and real-time large data analytics and virtualization. The company will carry out these duties in Colorado as well as other locations around the world over the next five years. KBR has performed similar tasking for the TENCAP program since January 2018. The Air Force awarded the cost-plus-award-fee task order through the General Services Administration's Federal Systems Integration and Management Center using the One Acquisition Solution for Integrated Services, or OASIS, contract, a multiple award, indefinite delivery, indefinite quantity vehicle for complex, integrated professional services.
KBR wins $92.6M Navy contract for C-UAS services » 06:0902/1602/16/21
KBR has won a $92.6M…
KBR has won a $92.6M contract to perform engineering, integration and sustainment services on counter unmanned air systems, or C-UAS, for the Combat Integration & Identification Systems unit within the U.S. Naval Air Warfare Center Aircraft Division, or NAWCAD. This cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity, or IDIQ, contract is a new opportunity for KBR to help the U.S. military with ground-based air defense. KBR will provide its expertise to various Navy identification and data link systems, which include the Negation of Improvised Non-State Joint Aerial-Threats, or NINJA system; Counter-Remote Control Model Aircraft Integrated Air Defense Network, or CORIAN, system; SkyTracker UAS detection and tracking suite; Light Marine Air Defense Integrated System, or LMADIS; Marine Air Defense Integrated System, or MADIS; and ANDURIL artificial intelligence platforms. The Department of Defense uses these C-UAS to strengthen homeland security and address potential threats in the U.S. and abroad. The systems can scan the skies for enemy aircraft and take appropriate action to deny airspace access. KBR's specific tasks will include the integration and installation of systems; the characterization of system and sub-system components; development of training curriculum and materials, as well as delivery of formal training programs; supply system management and material control; testing and repair of C-UAS; and laboratory maintenance and quality assurance. The company will perform the five-year contract primarily at Webster Outlying Field in St. Inigoes, Maryland.
Cowen to hold a virtual conference » 09:1902/1102/11/21
KBR, RADA, SAIC, TDG, NUE, USAP, LDOS, J, SCHN, RUSMF, BAH, WOR, CMC, EMKR, YRCW, USAK, TFII, JBLU, HXL, DSKE, CARR, ARCB, AIR
42nd Annual Aerospace/Defense & Industrials Virtual Conference to be held on February 9-11. Webcast Link
KBR downgraded to Neutral from Buy at DA Davidson » 07:5102/0402/04/21
DA Davidson analyst Brent…
DA Davidson analyst Brent Thielman downgraded KBR to Neutral from Buy with an unchanged $30 price target. The analyst is citing the recent appreciation in KBR stock price, stating that shareholders have now been "rewarded" as the company pivoted to a "more stable" long-term business model with the exit of at-risk E&C services. Thielman adds that KBR's leverage to an economic recovery and cyclical spending in the energy markets has also changed, which could limit the company's near-term catalysts.
KBR subsidiary CVR Energy enters into next phase of the K-SAATTM project » 06:1802/0402/04/21
KBR announced that a…
KBR announced that a subsidiary of CVR Energy, is proceeding with the next phase of the KBR Solid Acid Alkylation Technology, or K-SAATTM, project for its refinery in Wynnewood, Oklahoma. CVR Energy previously awarded a contract to KBR to provide the basic engineering design based on K-SAAT technology to revamp its existing HF alkylation unit at its Wynnewood refinery. CVR Energy now plans to take the project to the next phase, which would entail KBR providing detailed engineering of the process equipment, proprietary equipment supply and module fabrication. The expected mechanical completion of the project would be late 2024, subject to regulatory and internal approvals.
KBR participates in a conference call with Citigroup » 12:2502/0302/03/21
Citigroup discusses KBR's new technology solutions business with management on a conference call to be held on February 3 at 1 pm Webcast Link