KBR Announces Segment Realignment and Executive Appointments in Support of Advancing Strategy

$KBR
Military/Government/Technical
Industrials
Get the next $KBR alert in real time by email
  • Realigned segments to support continued growth and profitability; Government Solutions segment renamed Mission Technology Solutions
  • Stuart Bradie, President and Chief Executive Officer, appointed Chair Elect and Byron Bright, President, Government Solutions U.S., named Chief Operating Officer, effective May 2025
  • Reiterating 2027 financial targets
  • Hosting a webcast to discuss these updates on January 8, 2025, at 8:30 a.m. EST

HOUSTON, Jan. 7, 2025 /PRNewswire/ -- KBR (NYSE:KBR) today announced segment reporting updates and executive appointments focused on advancing the Company's strategic direction. These updates include changes previously approved by KBR's Board of Directors and disclosed in a Form 8-K filed on December 19, 2024.

"As KBR continues to scale and expand capabilities, we are realigning our portfolio to streamline operations, reduce complexity, and optimize our processes," said Stuart Bradie, KBR President and CEO. "During 2024, we eliminated substantial costs and moved necessary support into the segments to enable greater self-sufficiency. We are already seeing the benefits of these initiatives, which have broken down historical silos, created cross-team collaboration, and opened a larger pipeline of opportunities globally. We also effected leadership changes to facilitate continued strong execution and greater value creation. These deliberate moves will ensure that our capabilities and talent are best aligned with our customers, help us remain cost competitive, and accelerate our progress toward achieving our strategic objectives, including maximizing shareholder value."

Segment Realignment

KBR comprises two operating business segments: Government Solutions (GS) and Sustainable Technology Solutions (STS). As part of the segment realignment, GS has been renamed Mission Technology Solutions (MTS), reflecting KBR's leading-edge mission critical capabilities spanning space, defense, national security, and its expanding commercial end markets. Sustainable Technology Solutions retains its name. The legacy GS International business unit has been eliminated and its elements integrated into both MTS and STS. Both segments will continue to operate globally, serving government and commercial customers.

The realigned organization is not effective until fiscal year 2025. For investor convenience, selected proforma financial information (under the realigned organization) for the prior 11 reported quarters will be posted on the Investor Relations section of KBR's website at investors.kbr.com. The fourth quarter of fiscal year 2024 will be added to this supplemental schedule once it is reported in February 2025. KBR's 2025 Forms 10-Q and Form 10-K will include comparable historical periods and reflect the realigned organization.

Executive Appointments

On December 19, 2024, KBR announced executive appointments in support of advancing its strategic direction:

  • Byron Bright, currently President, Government Solutions U.S., has been appointed to serve in KBR's newly created Chief Operating Officer (COO) role, effective May 2025. As COO, he will lead both segments with Jay Ibrahim, President, Sustainable Technology Solutions, reporting to him. Additional Mission Technology Solutions leadership appointments will be made in the coming months.
  • Bright, 50, joined KBR in 2010 and has served in his current position since June 2020. Bright brings extensive operational experience and deep technical expertise, with prior roles in government services and the U.S. Air Force.

Bradie commented, "Byron has demonstrated exceptional leadership in his current role. As COO, he will provide focused operational oversight to ensure that KBR continues to win the right work and deliver value as we execute our strategic initiatives. I am extremely confident in Byron's ability to consistently deliver results across the enterprise, and I look forward to partnering with him in his new leadership role."

  • KBR Chair, General Lester L. Lyles, notified the Board of Directors of his decision to retire from service effective post KBR's 2025 Annual Meeting of Stockholders. General Lyles has served on the Board since 2007 and as Chair since 2019.
  • The Board appointed Bradie to serve as Chair effective following the 2025 Annual Meeting. 
  • An Independent Lead Director will be appointed ahead of the 2025 Annual Meeting.

Bradie commented, "General Lyles has been an invaluable member of our Board and instrumental in guiding KBR's transformation into a global, diversified technology solutions leader. We are grateful for Les's leadership and thank him for his 18 years of dedicated service. I am honored to take on the role of Chair and thank the Board for their confidence in me. I look forward to continuing to work with our Board and leadership team to execute our strategy and deliver continued stakeholder value."

Financial Targets

KBR is reiterating its 2027 financial targets, introduced at its May 2024 Investor Day which are based on 2023 baseline year.

Specifically, the company expects to achieve:

  • KBR Consolidated: Revenues of $11.5 billion; Adj. EBITDA of $1.15+ billion; Adj. EBITDA Margin of 10% - 11%, and Operating Cash Flow of $700+ million
  • MTS: Revenue CAGR of 11% - 15% and Adj. EBITDA Margin of 9% - 10%
  • STS: Revenue CAGR of 11% - 15% and Adj. EBITDA Margin of ~20%

Bradie concluded, "The outlook for KBR is exciting and we are well positioned with our unique capabilities and talented teams to capture outsized demand driven by global megatrends. The structural changes communicated today provide us greater strategic flexibility as we continue to build strength and scale across the organization. We remain focused on leveraging our unique ONE KBR capabilities, enabled by our digital accelerators, to deliver best-in-class solutions to our global customers."

Webcast Information

KBR will host a special webcast to discuss the segment realignment and executive leadership updates on Wednesday, January 8, 2025, at 8:30 a.m. Eastern Time. The conference call will be webcast simultaneously through the Investor Relations section of KBR's website at investors.kbr.com. A replay of the webcast will be available on our website or by telephone at +1.866.813.9403, passcode: 639026.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 37,000 people worldwide with customers in more than 80 countries and operations in over 30 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding our plans, objectives, goals, strategies, investments, capital deployment, future financial performance, 2024-2027 financial targets, expected returns, cost reductions and future events, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/kbr-announces-segment-realignment-and-executive-appointments-in-support-of-advancing-strategy-302344958.html

SOURCE KBR, Inc.

Get the next $KBR alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$KBR

DatePrice TargetRatingAnalyst
9/6/2024$72.00Buy → Hold
TD Cowen
1/10/2024$63.00Overweight
KeyBanc Capital Markets
12/2/2022$65.00Buy
BofA Securities
3/18/2022$65.00Buy
Stifel
3/4/2022Neutral → Buy
DA Davidson
2/1/2022$50.00 → $55.00Overweight
Keybanc
10/29/2021$47.00 → $51.00Outperform
Credit Suisse
10/26/2021$45.00 → $50.00Overweight
Keybanc
More analyst ratings

$KBR
Press Releases

Fastest customizable press release news feed in the world

See more
  • KBR Awarded Global Agreement by BP for Engineering, Procurement and Construction Management Services

    HOUSTON, Jan. 13, 2025 /PRNewswire/ -- KBR (NYSE:KBR) announced today it has been awarded a global agreement by BP International Limited (bp) for engineering, procurement and construction management (EPCM) services. Under the terms of the contract, KBR will provide EPCM for onshore, offshore, greenfield and brownfield conventional energy projects and new energy sector projects worldwide for three years, with an option to extend for two additional years. Additionally, KBR provides bp with market-leading licensed technology solutions, demonstrating the depth and versatility of i

    $KBR
    Military/Government/Technical
    Industrials
  • KBR, Inc. to Hold Fourth Quarter and FY 2024 Earnings Conference Call

    HOUSTON, Jan. 13, 2025 /PRNewswire/ -- KBR (NYSE:KBR) announced today that it will host a conference call to discuss its fourth quarter and fiscal 2024 financial results on Monday, February 24, 2025, at 3:00 p.m. Central Time (4:00 p.m. Eastern Time). The company plans to issue its fourth quarter 2024 earnings release and earnings presentation in advance of the call. Both will be available on KBR's website. The conference call will be webcast simultaneously through the Investor Relations section of KBR's website at investors.kbr.com.  A replay of the webcast will be available

    $KBR
    Military/Government/Technical
    Industrials
  • KBR Announces Segment Realignment and Executive Appointments in Support of Advancing Strategy

    Realigned segments to support continued growth and profitability; Government Solutions segment renamed Mission Technology SolutionsStuart Bradie, President and Chief Executive Officer, appointed Chair Elect and Byron Bright, President, Government Solutions U.S., named Chief Operating Officer, effective May 2025Reiterating 2027 financial targetsHosting a webcast to discuss these updates on January 8, 2025, at 8:30 a.m. ESTHOUSTON, Jan. 7, 2025 /PRNewswire/ -- KBR (NYSE:KBR) today announced segment reporting updates and executive appointments focused on advancing the Company's strategic direction. These updates include changes previously approved by KBR's Board of Directors and disclosed in a

    $KBR
    Military/Government/Technical
    Industrials

$KBR
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$KBR
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$KBR
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$KBR
SEC Filings

See more

$KBR
Leadership Updates

Live Leadership Updates

See more
  • KBR Appoints Nchacha E. Etta to Board of Directors

    HOUSTON, Aug. 12, 2024 /PRNewswire/ -- KBR (NYSE:KBR) announced today the appointment of Nchacha E. Etta to its Board of Directors effective August 12, 2024. Nchacha E. Etta is executive vice president and chief financial officer of Omnicell, Inc., a multinational healthcare technology company. His breadth of finance and accounting experience stems from leading and working in global finance organizations across the healthcare and consumer products industries for more than 20 years. Prior to joining Omnicell, Mr. Etta served as senior vice president and chief financial officer

    $KBR
    Military/Government/Technical
    Industrials
  • KBR Teams with HJF, Awarded Critical Contract to Aid Military Neuroscience Research

    HOUSTON, Dec. 18, 2023 /PRNewswire/ -- KBR (NYSE:KBR) is pleased to join forces with The Henry M. Jackson Foundation for the Advancement of Military Medicine (HJF) on an important contract to support neuroscience research for service members. This new award will specifically focus on those affected by traumatic brain injuries. Research will be done in collaboration with the Uniformed Services University (the nation's only federal health sciences university), and the University of California San Francisco (UCSF). Under the terms of the Service Personnel Advancing Research in Ch

    $KBR
    Military/Government/Technical
    Industrials
  • Charah Solutions Appoints Jonathan Batarseh as Chief Financial Officer

    LOUISVILLE, KY / ACCESSWIRE / October 18, 2022 / Charah® Solutions, Inc. (NYSE:CHRA) ("Charah Solutions" or the "Company"), a leading provider of environmental services and byproduct recycling to the power generation industry, today announced the appointment of Jonathan Batarseh as Chief Financial Officer and Treasurer, effective October 17, 2022. Mr. Batarseh, who will report to Chief Executive Officer and President Scott Sewell, is responsible for overseeing accounting, financial planning and analysis, tax, treasury, investor relations, information technology, fleet, and procurement initiatives."We welcome Jonathan to the Charah Solutions team," said Mr. Sewell. "He brings proven experienc

    $CHRA
    $KBR
    Medical Specialities
    Utilities
    Military/Government/Technical
    Industrials

$KBR
Financials

Live finance-specific insights

See more
  • KBR, Inc. to Hold Fourth Quarter and FY 2024 Earnings Conference Call

    HOUSTON, Jan. 13, 2025 /PRNewswire/ -- KBR (NYSE:KBR) announced today that it will host a conference call to discuss its fourth quarter and fiscal 2024 financial results on Monday, February 24, 2025, at 3:00 p.m. Central Time (4:00 p.m. Eastern Time). The company plans to issue its fourth quarter 2024 earnings release and earnings presentation in advance of the call. Both will be available on KBR's website. The conference call will be webcast simultaneously through the Investor Relations section of KBR's website at investors.kbr.com.  A replay of the webcast will be available

    $KBR
    Military/Government/Technical
    Industrials
  • KBR Announces Segment Realignment and Executive Appointments in Support of Advancing Strategy

    Realigned segments to support continued growth and profitability; Government Solutions segment renamed Mission Technology SolutionsStuart Bradie, President and Chief Executive Officer, appointed Chair Elect and Byron Bright, President, Government Solutions U.S., named Chief Operating Officer, effective May 2025Reiterating 2027 financial targetsHosting a webcast to discuss these updates on January 8, 2025, at 8:30 a.m. ESTHOUSTON, Jan. 7, 2025 /PRNewswire/ -- KBR (NYSE:KBR) today announced segment reporting updates and executive appointments focused on advancing the Company's strategic direction. These updates include changes previously approved by KBR's Board of Directors and disclosed in a

    $KBR
    Military/Government/Technical
    Industrials
  • KBR Announces Third Quarter Fiscal 2024 Financial Results

    Outstanding 3Q Performance Strong Bookings Momentum Raising Guidance on Revenue, Adj. EBITDA2 & Adj. EPS2 HOUSTON, Oct. 23, 2024 /PRNewswire/ -- KBR, Inc. (NYSE:KBR) today announced its third quarter fiscal 2024 financial results. "KBR's exceptional team has once again exceeded expectations with outstanding third-quarter results," stated Stuart Bradie, KBR's President and CEO. "Our team's dedication to our customers has resulted in year-over-year growth across all financial metrics, including Revenues, Adjusted EBITDA2, Adjusted EPS2, and notably, Operating Cash Flows. The boo

    $KBR
    Military/Government/Technical
    Industrials

$KBR
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more