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Here are 1-3 brief analogies to describe KBR:

• Like Jacobs Engineering Group (J), but specialized in national security, space, and green industrial technologies.
• Imagine Leidos, but also a major provider of sustainable industrial process technologies, such as for hydrogen.
• Think of Honeywell UOP, but also a significant government contractor for defense and space missions.

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• Sustainable Technology & Engineering: KBR provides licensed technologies, engineering design, and consulting services for process industries, focusing on sustainable production, decarbonization, and energy transition solutions.
• Government & Defense Services: KBR offers engineering, logistics, mission support, and technical solutions to defense, space, and intelligence agencies, along with other government clients globally.

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KBR (symbol: KBR) primarily sells its services and technology solutions to governmental entities and other companies.

Its major customers include:

• U.S. Government: This is KBR's largest customer, consistently accounting for the majority of its revenues (approximately 73% in 2023). KBR provides services to various U.S. government agencies, including the Department of Defense, NASA, the Department of Energy, the Department of Homeland Security, and the Department of State. As a governmental entity, it does not have a public company symbol.
• Other Governments and Military Organizations: KBR also serves foreign governments and military entities worldwide. These are governmental entities and do not have public company symbols.
• Commercial Companies: KBR provides science, technology, and engineering solutions to a diverse range of commercial clients globally, primarily through its Sustainable Technology Solutions segment. While specific individual commercial company names are generally not disclosed by KBR as "major customers" in its public filings due to the breadth and diversification of its client base in this sector, these clients typically operate in industries such as:
  • Refining
  • Petrochemicals and Chemicals Production
  • Ammonia Production
  • Specialty Chemicals Production
  • Liquefied Natural Gas (LNG) Production
  • Other industrial sectors requiring advanced engineering and technology solutions.

  No single commercial company is publicly identified by KBR as a major customer (e.g., accounting for a significant percentage of overall revenue) in its financial filings, and therefore specific public company symbols for such major commercial customers are not applicable or disclosed.

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Stuart J. B. Bradie, President & Chief Executive Officer

Mr. Bradie joined KBR in June 2014 and has over 30 years of industry experience. He previously served as Group Managing Director – Operations and Delivery at WorleyParsons Ltd. Prior to joining WorleyParsons in 2001, he held Managing Director and Country Manager positions with PT Kvaerner Indonesia and Kvaerner Philippines from 1996 to 2001. Mr. Bradie holds a Bachelor of Science degree in Mechanical Engineering from Aberdeen University and a Master of Business Administration from the Edinburgh Business School, Heriot-Watt University. He was appointed Chair of KBR's Board of Directors effective May 14, 2025. Additionally, he joined the board of Rolls-Royce Holdings plc in May 2023.

Mark Sopp, Executive Vice President and Chief Financial Officer

Mr. Sopp joined KBR in February 2017, bringing many years of financial leadership experience. From 2005 to 2015, he served as Chief Financial Officer and Executive Vice President for Leidos Holdings, Inc. (formerly Science Applications International Corporation - SAIC), a publicly traded government contractor. He also held various executive positions with Titan Corporation. Mr. Sopp earned a Bachelor of Science degree in Accounting from New Mexico State University and completed an executive program from the Anderson School at UCLA.

Greg Conlon, Chief Digital & Development Officer

Mr. Conlon joined KBR in May 2016 and assumed his current role in January 2019. He is responsible for KBR's digital strategy and implementation efforts. Prior to his current position, Mr. Conlon served as KBR's Executive Vice President and Chief Development Officer, and previously as President, Asia-Pacific (APAC). Before joining KBR, he was Executive Vice President leading business development globally for the WorleyParsons Services business line. Mr. Conlon has over 25 years of experience in the engineering and construction business and holds a Bachelor of Science degree in Mechanical Engineering from Royal Melbourne Institute of Technology.

Jenni Myles, Executive Vice President and Chief People Officer

Ms. Myles joined KBR in May 2020, bringing over 30 years of human resources experience. During her 20-year tenure with G4S, she held numerous positions of increasing responsibility, culminating in Group HR Director and Chief HR Officer, Americas Region. Prior to G4S, Ms. Myles worked for KPMG, Northern Foods, and Ford Motor Company in various employee relations and human resources management roles. She holds a Bachelor of Laws (Hons) degree from the University of Glasgow and is a Fellow of the Chartered Institute of Personnel & Development.

Jay Ibrahim, President, Sustainable Technology Solutions

Mr. Ibrahim joined KBR in May 2015 and assumed his current role in June 2020. He has over 30 years of industry relevant experience. Before his current position, he led the global Services division of KBR's former Energy Solutions business segment, and previously served as President – Europe, Middle East and Africa (EMEA), and President – Engineering and Construction (E&C), EMEA. Prior to KBR, Mr. Ibrahim held various engineering, project management, business development, and business management roles for Parsons E&C/WorleyParsons. He holds Bachelor of Science and Master of Science degrees in Mechanical Engineering from Wichita State University and a Diploma in Advanced Management from Harvard University.

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The public company KBR (symbol: KBR) faces several key risks to its business, primarily stemming from its reliance on government contracts and recent operational challenges. The most significant risks include:

1. Loss of Major Government Contract and Associated Financial and Reputational Impact: KBR's joint venture, HomeSafe Alliance LLC, experienced the "for cause" termination of a significant $20 billion Department of Defense (DoD) global household goods contract in June 2025. This cancellation, attributed to systemic operational failures, is a critical revenue driver setback for KBR. The event immediately triggered a 7.3% decline in KBR's share price and poses risks of substantial revenue loss and significant reputational damage, which could hinder future government contract bids.
2. High Reliance on U.S. Government Contracts: A considerable portion of KBR's revenue, particularly within its Government Solutions segment, is generated from contracts with the U.S. government, which accounted for 57% of its total consolidated revenues in fiscal year 2024. This reliance exposes KBR to risks associated with government spending fluctuations, budget cuts, competitive contract award processes, and potential delays or cancellations of projects by its significant customers.
3. Legal Liabilities and Securities Fraud Investigation: Following the DoD contract cancellation, KBR is subject to a securities fraud investigation launched by multiple law firms. The investigations are looking into whether KBR misled investors with earlier statements about its relationship with the DoD, which appeared inconsistent with the contract's abrupt termination. If proven, the company could face class-action lawsuits from shareholders, SEC penalties, and substantial legal defense and settlement expenses, further straining its financial position.

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Rapid emergence of superior, low-cost, or more efficient proprietary technologies from competitors in the Sustainable Technology Solutions (STS) domain.

KBR's STS segment derives significant revenue from licensing its proprietary technologies (e.g., for green hydrogen, ammonia, carbon capture, sustainable aviation fuels) and providing associated engineering services. The energy transition sector is characterized by intense research and development and rapid innovation. New or existing competitors, including agile startups or well-funded industry players, could develop and commercialize breakthrough technologies that are significantly more cost-effective, energy-efficient, or scalable than KBR's current licensed offerings. This could render KBR's proprietary technologies less competitive or even obsolete, directly impacting its licensing revenue, market share in key sustainable technology areas, and ability to secure future projects. The current acceleration of technological advancements in areas like advanced electrolyzers, novel carbon capture methods, and alternative feedstock conversion processes indicates this as a clear emerging threat.

Disruption from Advanced Artificial Intelligence and Automation in Government Solutions.

KBR's Government Solutions segment provides extensive human-intensive technical, engineering, and digital services. The accelerating pace of advancements in artificial intelligence (AI) and automation across areas like data analysis, software development, systems engineering, and operational support presents an emerging threat. While KBR integrates AI into its solutions, the rapid maturation of AI-driven tools could enable competitors (including agile tech firms or even governmental agencies through internal development) to deliver similar services with significantly less human capital or at a lower cost. If KBR's adoption and integration of these advanced AI capabilities do not keep pace, or if AI-powered solutions become so advanced that they automate core aspects of their existing service delivery models, it could lead to reduced demand for KBR's traditional human-centric services and a competitive disadvantage.

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KBR, Inc. operates primarily through two main segments: Mission Technology Solutions (MTS) and Sustainable Technology Solutions (STS). While precise addressable market sizes for all of KBR's specific products and services are not publicly detailed in the provided search results, KBR's revenue within these segments offers an indication of their operational scale in these markets.

Mission Technology Solutions (MTS)

This segment provides science, technology, engineering, and logistics support solutions primarily to governments and companies, including national security and defense systems engineering, operational expertise in space and military aviation, and advanced digital solutions such as cybersecurity, data analytics, and mission planning systems. KBR's government services sector, now largely encompassed by MTS, accounted for over 70% of the company's $4.9 billion revenue in 2018, demonstrating a strategic shift towards IT consulting and other support services for government contracts.

• Market Size Proxy: As of the second quarter of 2025, KBR's MTS business reported approximately $5.8 billion in revenue over the trailing 12-month period. Roughly two-thirds of this revenue is generated in the U.S. market.
• Region: Global, with a significant concentration in the U.S., UK, and Australia government and defense sectors.

Sustainable Technology Solutions (STS)

The STS segment focuses on proprietary technologies for greener ammonia production, sustainable aviation fuel, plastics recycling, clean refining, and circular economy solutions. It also includes advisory and consulting practices centered on energy transition and net-zero carbon emission consulting.

• Market Size Proxy: In the second quarter of fiscal year 2025, the STS segment recorded $540 million in revenues. KBR notes that market drivers for STS are highly aligned with a growing number of countries and companies targeting carbon neutrality and net-zero carbon emissions, along with continued investments in diversifying end products, reducing emissions, improving efficiency, and the circular economy.
• Region: Global, serving energy, chemicals, and industrial sectors worldwide.

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Capital Allocation Decisions (Last 3-5 Years)

• Share Repurchases
  • KBR repurchased $138 million in shares during fiscal year 2023 and $218 million in fiscal year 2024.
  • In Q1 2025, KBR executed $156 million in share repurchases, and year-to-date through Q3 2025, total repurchases amounted to $304 million.
  • The Board of Directors authorized a replenishment of the share repurchase program to $500 million in February 2024, and subsequently increased the total authorized amount to $750 million in February 2025. As of Q3 2025, $452 million remained available under this program.
• Share Issuance
  • KBR's net total equity issued/repurchased for 2024 was -$218 million, indicating net repurchases.
  • In 2023, the net total equity issued/repurchased was -$138 million, and in 2022, it was -$203 million, continuing a trend of net share repurchases.
• Outbound Investments
  • In October 2020, KBR completed the acquisition of Centauri, LLC for approximately $800 million (net of tax benefits), enhancing its capabilities in space, directed energy, and advanced technology solutions.
  • KBR acquired Frazer-Nash Consultancy, a UK and Australian systems, engineering, and technology company, in October 2021 for £293 million (approximately $406 million).
  • In July 2024, KBR agreed to acquire LinQuest Corp., a specialist in national security space systems, for $737 million, with the purchase finalized in September 2024.
• Capital Expenditures
  • Capital expenditures for KBR were $71 million in 2022, $80 million in 2023, and $77 million in fiscal year 2024.
  • For the nine months ended October 3, 2025, capital expenditures amounted to $24 million.
  • KBR operates a low capital intensity business model and projects capital expenditures of approximately $50 to $65 million for fiscal year 2025.