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KBR secures $60.7 million cybersecurity contract

Published 03/26/2024, 06:41 AM
© Reuters.

HOUSTON - KBR Inc . (NYSE:KBR), a global technology and engineering firm, has been awarded a $60.7 million task order to provide cybersecurity support to the Naval Information Warfare Center (NIWC) Atlantic.

The task order, part of KBR's Seaport NxG IDIQ contract, aims to bolster the cybersecurity framework for the Defense Health Agency (DHA), which manages the Military Health System's integrated clinical and business operations.

The contract, announced today, includes a base period of one year with three additional one-year options. If fully exercised, the task order could reach an estimated total value of $245.6 million over four years. KBR's services will be delivered at various locations within and outside the Continental U.S., focusing on cybersecurity and information assurance.

KBR's responsibilities under this contract encompass assessment and authorization execution, development of cyber tools, security control assessments, and ongoing cybersecurity support. The company's cyber tools are designed to comply with the National Institute of Standards and Technology's Risk Management Framework (RMF), ensuring that systems are secure and meet federal guidelines.

Byron Bright, President of KBR Government Solutions U.S., emphasized the importance of the contract, stating that the work is "critical to the protection and security of the Defense Health Agency's infrastructure," which has widespread implications for the Military Health System.

KBR employs approximately 34,000 people worldwide, serving customers in more than 80 countries and operating in over 30 countries. The company is known for delivering science, technology, and engineering solutions to governments and companies globally.

The information in this article is based on a press release statement.

InvestingPro Insights

As KBR Inc. (NYSE:KBR) secures a significant cybersecurity task order to support the Naval Information Warfare Center Atlantic, it's worth noting some key financial metrics and insights that could interest investors. With a market capitalization of $8.26 billion and a notable revenue growth of 5.97% in the last twelve months as of Q4 2023, KBR demonstrates a solid financial standing. Additionally, the company's revenue has continued to grow quarterly, with a 7.59% increase reported in Q1 2023.

InvestingPro Tips indicate that KBR has raised its dividend for 4 consecutive years, showcasing a commitment to returning value to shareholders. This is further supported by the company's maintenance of dividend payments for 17 consecutive years. Despite challenges, such as weak gross profit margins at 14.05% for the last twelve months as of Q4 2023, analysts predict that KBR will be profitable this year, which could be a positive sign for investors considering the company's past performance and future potential.

Moreover, KBR's stock is known to trade with low price volatility, which might appeal to investors looking for stability in their portfolio. For those interested in deeper analysis, there are additional InvestingPro Tips available, providing a more comprehensive view of KBR's financial health and performance prospects. To access these insights, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

Investors should also be aware of the upcoming earnings date on April 25, 2024, which may provide further clarity on the company's financial trajectory and the impact of the new cybersecurity contract on its growth strategy.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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