KBR, Inc. KBR has landed lucrative contracts exceeding $450 million to provide advanced systems engineering support and services to the U.S. government. These agreements encompass an array of technical provisions spanning systems engineering, acquisition support, and cutting-edge expertise in data science and communications security infrastructure. Notably, KBR will leverage digital engineering to enhance acquisition efficiency and bolster secure communications and information technology systems.
With an eye on sustainability and advancement, KBR's commitment extends through 2031, aiming to fortify both space and ground systems. Integral to these efforts is the amalgamation of classic systems engineering methodologies with innovative digital engineering technologies, demonstrating KBR's dedication to tackling complex challenges and advancing mission objectives.
Moreover, KBR's expertise encompasses a broad spectrum, including architecting, engineering, and analysis services. The company's solutions are underscored by artificial intelligence (AI), machine learning, and advanced data frameworks, reflecting a forward-looking approach to meet evolving demands.
The significance of these contracts extends beyond monetary value, showcasing KBR's enduring dedication to supporting the U.S. government. Positioned within its National Security Solutions division, these wins underscore KBR's pivotal role in defense and intelligence support, epitomizing its role as a trusted advisor and innovator.
KBR's success underscores its strategic commitment to excellence and innovation, reaffirming its substantial presence in the Washington D.C. Metropolitan Region. As the company continues to evolve and expand its capabilities, these contracts underscore KBR's pivotal role in driving technological advancement and national security forward.
Consistent Contract Wins Boost Backlog
KBR’s focus on a resilient business model and efficiency-boosting initiatives have sparked its project-winning momentum. Also, the rising global importance of national security, energy security, energy transition and climate change has been acting as a major tailwind.
In the fourth quarter of 2023, KBR received $1.7 billion in bookings and options in highly strategic areas, with a trailing 12-month book-to-bill of 1.1X. This took the fiscal 2023 bookings and options level to $10.5 billion.
As of Dec 29, 2023, the total backlog (including award options of $4.4 billion) was $21.73 billion compared with $19.76 billion in 2022-end. Of the total backlog, Government Solutions booked $12.79 billion and the Sustainable Technology Solutions segment accounted for $4.55 billion.
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Shares of this Zacks Rank #3 (Hold) company have gained 15.9% year to date (YTD) compared with the Zacks Engineering - R and D Services industry’s 16% growth. KBR’s earnings estimate for 2024 has increased to $3.20 per share from $3.18 over the past 30 days. The estimated figure reflects 10% year-over-year growth.
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Altair Engineering Inc. ALTR currently carries a Zacks Rank #2 (Buy). ALTR delivered a trailing four-quarter earnings surprise of 107%, on average.
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