kbr inc (KBR) Key Developments
KBR and SOCAR Announce New Engineering Joint Venture in Azerbaijan
Mar 27 15
KBR, Inc. announced that it has signed a joint venture (JV agreement with the State Oil Company of Azerbaijan Republic (SOCAR to establish a new engineering and support services company in Azerbaijan. With support from KBR and SOCAR, the new company will provide design, engineering, technical, procurement, construction supervision and project management service for projects across the upstream, midstream and downstream
oil and gas sectors, primarily in the Republic of Azerbaijan. The company will
also prepare technical requirements for all stages of a project, including
project management, contract supervision, planning and cost control. Additionally, it will train and develop the local workforce and supervise
contractors throughout all stages of a project -- from startup through
construction and into performance testing.
KBR, Inc. Announces Retirement of W. Frank Blount from the Board of Directors Effective May 14, 2015
Mar 18 15
KBR, Inc. announced that W. Frank Blount will be retiring from the KBR Board of Directors effective May 14, 2015.
KBR Wins Saudi Aramco Offshore Project Management Services Contract
Mar 16 15
KBR, Inc. announced that it has been awarded a project management contract by Saudi Aramco to provide project management services for Saudi Aramco's offshore program. Under the terms of this six-year contract, KBR will provide project management and engineering services for existing and new offshore facilities to maintain and increase crude production levels to meet Saudi Aramco's maximum sustained capability for production under the company's capital program. Additionally, KBR-AMCDE will develop an in-kingdom center of engineering excellence to develop and train Saudi engineers.
KBR, Inc. Provides Earnings Guidance for the Year 2015
Feb 27 15
KBR, Inc. provided earnings guidance for the year 2015. For the year, the company expects revenues to be higher in 2015 for Technology & Consulting than it has been in 2014. The company expects a profitable 2015 even as restructuring activities continue and the company’s embed the change. The company’s 2015 EPS guidance of $1.07 to $1.22, excluding legacy U.S. Government legal fees of $18 million to $25 million pretax, and it's the guidance the company is giving for this financial year.
KBR, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Feb 27 15
KBR, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Net loss attributable to KBR was $1.24 billion, or $8.57 per diluted share, in the fourth quarter of 2014 compared to a net loss of $56 million, or $0.38 per diluted share, in the fourth quarter of 2013. Consolidated revenue in the fourth quarter of 2014 was $1.4 billion compared to $1.7 billion in the fourth quarter of 2013. Operating loss was $839 million against $27 million a year ago. Loss before income taxes and non controlling interest was $840 million against $28 million a year ago. Net cash used in operating activities was $8 million against net cash generated from operating activities of $216 million a year ago. Purchase of property, plant and equipment was $7 million against $12 million a year ago.
For the year, the company reported total revenue was $6,366 million against $7,214 million a year ago. Operating loss was $794 million against income of $308 million a year ago. Loss before income taxes and non controlling interest was $777 million against income of $300 million a year ago. Loss attributable to company was $1,262 million income of $75 million a year ago. Diluted loss per share was $8.66 against income of $0.50 per share a year ago. Total cash flow provided by operating activities was $170 million against $297 million a year ago. Purchase of property, plant and equipment was $53 million against $78 million a year ago.