HOUSTON - KBR Inc . (NYSE: NYSE:KBR), a global technology and engineering firm, has secured a $34 million contract to support operations at the U.S. Naval Research Laboratory (NRL) in Washington, D.C. The cost-plus-fixed-fee single award IDIQ (Indefinite Delivery, Indefinite Quantity) contract, announced today, spans a five-year period and includes facility operations, maintenance, and security services.
The company will expand its services under the new contract to include staffing the NRL visitor's center and providing cybersecurity support across multiple NRL campuses. This effort aims to safeguard data integrity in an era of heightened security threats. Moreover, KBR will be responsible for the maintenance and sustainment of two controlled areas within Washington, D.C., which involves retrofitting spaces for new tenants who will support research initiatives.
Byron Bright, President of KBR's Government Solutions U.S., expressed enthusiasm about the company's ongoing role in ensuring secure facility operations and cybersecurity services for the NRL, particularly in light of increasing threats. He highlighted KBR's sustained contract with the NRL for over thirty-five years as a testament to the company's expertise in physical security and cybersecurity.
The NRL is a leading research institution for the U.S. Navy and the U.S. Marine Corps, focusing on scientific and engineering advancements. KBR's enduring support reflects its adaptability to the evolving needs of its customers.
KBR employs about 35,000 people worldwide, serving clients in over 80 countries and operating in more than 30 countries. The company prides itself on delivering consistent results through technology, value-added services, and long-term operations and maintenance services.
This press release contains forward-looking statements regarding future contractual performance and is based on current expectations, estimates, forecasts, and projections. These statements are subject to risks, uncertainties, and assumptions, including those detailed in KBR's filings with the U.S. Securities and Exchange Commission.
The information for this article is based on a press release statement.
InvestingPro Insights
As KBR Inc. (NYSE: KBR) secures a significant contract with the U.S. Naval Research Laboratory, the company's financial health and market performance remain integral to investors. According to InvestingPro data, KBR has a market capitalization of approximately $8.8 billion and has demonstrated a revenue growth of 7.9% over the last twelve months as of Q1 2024. This growth is consistent with the company's expansion of services and contract acquisitions, like the recent NRL deal.
InvestingPro Tips indicate that KBR has raised its dividend for four consecutive years, signaling a commitment to shareholder returns amidst its expansion strategies. Moreover, the company's stock has been trading near its 52-week high, reflecting a strong market confidence which may be bolstered by the latest contract win. Investors might also note that three analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook on the company's financial performance.
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