kbr inc (KBR) Key Developments
KBR, Inc. Announces Retirement of William P. Bill Utt as Chairman, President and Chief Executive Officer in 2014
Dec 16 13
KBR, Inc. announced that William P. Bill Utt will retire from his role as Chairman, President and Chief Executive Officer in 2014. To ensure a smooth transition, Mr. Utt will continue to lead KBR in his current positions until a new CEO is appointed and will support the Board's search process. The Board has retained Russell Reynolds Associates, a leading executive search firm to assist in the process.
KBR Secures Contract from Fertial SpA to Conduct a Study That Will Improve Safety, Reliability and Energy Efficiency of Two Algerian Ammonia Plants
Nov 7 13
KBR announced that it has been awarded a contract by Fertial SpA to conduct a study that will improve safety, reliability and energy efficiency of two Algerian ammonia plants. The outcomes of the study will also increase the overall ammonia production capacity by 50% and be introduced in a phase-by-phase approach for the 1970's vintage plants. The undisclosed contract value was booked into backlog in KBR's fourth quarter of 2013. During the first phase of the revamp project, KBR will define the technical scope and pinpoint the commercial requirements prior to licensing its technology.
KBR, Inc. Presents at Goldman Sachs Global Industrials Conference 2013, Nov-13-2013 10:15 AM
Nov 1 13
KBR, Inc. Presents at Goldman Sachs Global Industrials Conference 2013, Nov-13-2013 10:15 AM. Venue: Boston Harbor Hotel, Boston, Massachusetts, United States. Speakers: William P. Utt, Chairman, Chief Executive Officer and President.
KBR Appoints Brian K. Ferraioli as Executive Vice President and Chief Financial Officer
Oct 28 13
KBR announced that Brian K. Ferraioli has been appointed the company's Executive Vice President and Chief Financial Officer effective October 28, 2013. Mr. Ferraioli brings 34 years of financial and accounting experience specifically in the engineering and construction industry to his role at KBR. He was previously the Executive Vice President and Chief Financial Officer for six years at The Shaw Group in Baton Rouge, La. Before joining Shaw, Mr. Ferraioli served in numerous roles at Foster Wheeler AG in Clinton, N.J. He began his Foster Wheeler career in 1979 as an internal auditor and rose through the corporate ranks, ultimately becoming a Vice President and Corporate Controller. Currently, Mr. Ferraioli also serves on the board of directors for The Babcock & Wilcox Co. and Adolfson & Peterson Construction.
KBR, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Full Year 2013
Oct 24 13
KBR, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total revenue of $1,811 million against $1,992 million a year ago. Operating income was $166 million against operating loss of $11 million a year ago. Income before income taxes and non-controlling interests was $162 million against loss before income taxes and non-controlling interests of $15 million a year ago. Net income attributable to the company was $24 million or $0.16 diluted per share against net loss attributable to the company of $81 million or $0.55 diluted per share a year ago. Total cash provided by operations was $178 million. During the third quarter of 2013, the company had capital expenditures of $17 million
For the nine months, the company reported total revenue of $5,666 million against $6,055 million a year ago. Operating income was $422 million against $230 million a year ago. Income before income taxes and non-controlling interests was $415 million against $223 million a year ago. Net income attributable to the company was $202 million or $1.36 diluted per share against $114 million or $0.76 diluted per share a year ago. Total cash flows provided by operating activities was $81 million against total cash flows used in operating activities of $11 million a year ago. Capital expenditures were $57 million against $53 million a year ago.
The company expects 2013 EPS to be at the low end of the previous guidance range of between $2.55 and $2.90, excluding charges related to the tax dispute with the company’s former parent.