KBR on NYSE

KBR, Inc.

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons5

American engineering and defense contractor

KBR, Inc. (formerly Kellogg Brown & Root) is a U.S. based company operating in fields of science, technology and engineering. KBR works in various markets including aerospace, defense, industrial, intelligence, and energy. The company supports various NASA programs, international partner space agencies, and commercial partners.3 It employed about 27,000 people.1 Its revenue was $2.6 billion in 2018.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$7.8BRevenue, fiscal 20266
$415.0MNet income, fiscal 20266
1998Founded1

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  • TickerKBR on NYSE1
  • Industryconstruction1
  • HeadquartersHouston1
  • Websitewww.kbr.com
  • Legal formDelaware corporation1
  • Incorporated inDE7
  • Business address601 Jefferson Street, Suite 3400, Houston, Tx 770027
  • Filer categoryLarge accelerated filer7
  • LEI254900OFQDXZRKRCV8084
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 41292584
KBRTowerHoustonTX
Photo: WhisperToMe, Public domain, via Wikimedia Commons10

KBR, Inc. (formerly Kellogg Brown & Root) is a U.S. based company operating in fields of science, technology and engineering. KBR works in various markets including aerospace, defense, industrial, intelligence, and energy. The company supports various NASA programs, international partner space agencies, and commercial partners.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

14.8%Gross margin6
10.0%Operating margin6
5.3%Net margin6
1.0%Revenue growth, 20266
27.6%Return on equity6
1.69×Debt to equity6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Mission Technology Solutions brought in 72% of the revenue KBR, Inc. broke down this way in fiscal 2025.

  1. Mission Technology Solutions$5.6B672%up 0% from 2024
  2. Sustainable Technology Solutions$2.2B628%up 2% from 2024
Business segments by year
Business segments202320242025
Mission Technology Solutions$5.1B$5.6B$5.6B
Sustainable Technology Solutions$1.8B$2.2B$2.2B

Regions

United States brought in 55% of the revenue KBR, Inc. broke down this way in fiscal 2025.

  1. United States$4.2B655%up 5% from 2024
  2. Europe$1.6B620%down 16% from 2024
  3. Middle East$790.0M610%up 8% from 2024
  4. Australia$548.0M67%up 4% from 2024
  5. Africa$253.0M63%up 26% from 2024
  6. Other Countries$225.0M63%up 40% from 2024
  7. Asia$142.0M62%down 7% from 2024
Regions by year
Regions202320242025
United States$3.6B$4.0B$4.2B
Europe$1.8B$1.9B$1.6B
Middle East$528.0M$731.0M$790.0M
Australia$496.0M$526.0M$548.0M
Africa$176.0M$201.0M$253.0M
Other Countries$154.0M$161.0M$225.0M
Asia$169.0M$152.0M$142.0M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue85¢$6.6B
  • Selling, general and admin7¢$578.0M
  • Income tax2¢$156.0M
  • Profit5¢$415.0M

Out of $7.8B in revenue.6

Financial statements

Revenue111213146$7.8B in 2026+38% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $5.6B$5.6B20192020: $5.8B$5.8B2020+2%2021: $7.3B$7.3B2021+27%2022: $6.6B$6.6B2022−11%2023: $7.0B$7.0B2023+6%2025: $7.7B$7.7B2025+11%2026: $7.8B$7.8B2026+1%
Gross profit111213146$1.1B in 2026+76% since 2019
0$500.0M$1.0B$1.5B2019: $653.0M$653.0M20192020: $666.0M$666.0M2020+2%2021: $806.0M$806.0M2021+21%2022: $828.0M$828.0M2022+3%2023: $977.0M$977.0M2023+18%2025: $1.1B$1.1B2025+12%2026: $1.1B$1.1B2026+5%
Operating income111213146$778.0M in 2026+115% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $362.0M$362.0M20192020: $57.0M$57.0M2020−84%2021: $231.0M$231.0M2021+305%2022: $343.0M$343.0M2022+48%2023: $449.0M$449.0M2023+31%2025: $659.0M$659.0M2025+47%2026: $778.0M$778.0M2026+18%
Net income111213146$415.0M in 2026+105% since 2019
-$400.0M-$200.0M0$200.0M$400.0M$600.0M2019: $202.0M$202.0M20192020: -$63.0M-$63.0M20202021: $27.0M$27.0M20212022: $190.0M$190.0M2022+604%2023: -$265.0M-$265.0M20232025: $375.0M$375.0M20252026: $415.0M$415.0M2026+11%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Revenues$7.8B$7.7B$7.0B
Cost of revenues-$6.6B-$6.6B-$6.0B
Gross profit$1.1B$1.1B$977.0M
Equity in earnings of unconsolidated affiliates$210.0M$107.0M$114.0M
Selling, general and administrative expenses-$578.0M-$543.0M-$487.0M
Legal settlement of legacy matter$0$0-$144.0M
Other-$4.0M-$4.0M-$11.0M
Operating income$778.0M$659.0M$449.0M
Interest expense-$158.0M-$144.0M-$115.0M
Charges associated with Convertible Notes$0$0-$494.0M
Other non-operating expense-$6.0M-$7.0M-$5.0M
Income (loss) from continuing operations before income taxes$614.0M$508.0M-$165.0M
Provision for income taxes-$156.0M-$129.0M-$95.0M
Net income (loss) from continuing operations$458.0M$379.0M-$260.0M
Net income (loss) from discontinued operations, net of tax-$55.0M$2.0M-$1.0M
Net income (loss)$403.0M$381.0M-$261.0M
Less: Net income attributable to noncontrolling interests included in continuing operations$7.0M$5.0M$4.0M
Less: Net income (loss) attributable to noncontrolling interests included in discontinued operations-$19.0M$1.0M$0
Net income (loss) attributable to KBR$415.0M$375.0M-$265.0M
Basic earnings (loss) per share from continuing operations (in usd per share)$3$3-$2
Basic earnings (loss) per share from discontinued operations (in usd per share)-$0$0$0
Basic earnings (loss) per share attributable to KBR (in usd per share)$3.21$2.79-$1.96
Diluted earnings (loss) per share from continuing operations (in usd per share)$3$3-$2
Diluted earnings (loss) per share from discontinued operations (in usd per share)-$0$0$0
Diluted earnings (loss) per share attributable to KBR (in usd per share)$3.21$2.79-$1.96
Basic weighted average common shares outstanding (in shares)129.0M shares134.0M shares135.0M shares
Diluted weighted average common shares outstanding (in shares)129.0M shares134.0M shares135.0M shares
Cash dividends declared per share ( in usd per share)$0.66$0.60$0.54

Compare KBR, Inc. with another company

Corporate structure

KBR, Inc. sits at the top of its group. 133 entities, 29 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of KBR, Inc.

  • KBR, Inc. Houston, Texas, United States
    • Asia Pacific Transport Consortium Subsidiary
    • GVA Consultants Subsidiary · Göteborg
    • Kellex Corporation Subsidiary
    • Wyle Laboratories Subsidiary · Wilmington, Delaware, United States
    • Affinity Capital Works Limited Subsidiary · United Kingdom
    • Affinity Flying Services Limited Subsidiary · United Kingdom
    • Affinity Flying Training Services Limited Subsidiary · United Kingdom
    • AOC International Limited Subsidiary · United Kingdom
    • Asesoria Gerencial de Recursos Humanos, S. de R.L. de C. V. Subsidiary · Mexico
    • Aspire Defence Capital Works JV Subsidiary · United Kingdom
    • Aspire Defence Finance PLC Subsidiary · United Kingdom
    • Aspire Defence Holdings Limited Subsidiary · United Kingdom
    • Aspire Defence Limited Subsidiary · United Kingdom
    • Aspire Defence Services JV Subsidiary · United Kingdom
    • Aspire Defence Services Limited Subsidiary · United Kingdom
    • BE&K de Mexico, S.A. de C.V. Subsidiary · Mexico
    • BetterKonnected Joint Venture Subsidiary · Australia
    • Blandford Offshore Services Limited Subsidiary · United Kingdom
    • Bonny 7 Project Management Company Limited Subsidiary · United Kingdom
    • Bristol Management Centre Limited Subsidiary · United Kingdom
    • Brown & Root Highlands Fabricators Limited Subsidiary · United Kingdom
    • Brown & Root Industrial Services Canada Corporation Subsidiary · Canada
    • Brown & Root Industrial Services De Mexico Subsidiary · Mexico
    • Brown & Root Industrial Services Puerto Rico C.R.L. Subsidiary · Puerto Rico, United States
    • Eitec LTD Subsidiary · United Kingdom
    • and 107 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What KBR, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$217.0M6 Jan 2, 2026$203.0M6 Jan 3, 2025+6.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$500.0M6 Jan 2, 2026$342.0M6 Jan 3, 2025+46.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.7B6 Jan 2, 2026$2.6B6 Jan 3, 2025+1.8%
Intangible assets, net (excluding goodwill)$727.0M6 Jan 2, 2026$763.0M6 Jan 3, 2025−4.7%
Accumulated amortization$501.0M6 Jan 2, 2026$427.0M6 Jan 3, 2025+17.3%

Properties, in its own words

Our operations are conducted at both owned and leased properties in domestic and foreign locations. Our corporate headquarters are located at 601 Jefferson Street, Houston, Texas 77002. While we have operations worldwide, the following table describes the locations of our more significant existing office facilities:

Location · Owned/Leased · Business Segment

The rest of Item 2

North America:

Houston, Texas · Leased · All

Fulton, Maryland · Leased · Mission Technology Solutions

Columbia, Maryland · Leased · Mission Technology Solutions

Lexington Park, Maryland · Leased · Mission Technology Solutions

Chantilly, Virginia · Leased · Mission Technology Solutions

Vienna, Virginia · Leased · Mission Technology Solutions

Fairfax, Virginia · Leased · Mission Technology Solutions

Herndon, Virginia · Leased · Mission Technology Solutions

Huntsville, Alabama · Leased · Mission Technology Solutions

Phoenix, Arizona · Leased · Mission Technology Solutions

El Segundo, California · Leased · Mission Technology Solutions

Colorado Springs, Colorado · Leased · Mission Technology Solutions

North Charleston, South Carolina · Leased · Mission Technology Solutions

Dayton/Beavercreek, Ohio · Leased · Mission Technology Solutions

Europe, Middle East and Africa:

Leatherhead, United Kingdom · Owned · All

Glasgow, United Kingdom · Leased · Mission Technology Solutions

Wiltshire, United Kingdom · Leased · Mission Technology Solutions

Al Khobar, Saudi Arabia · Leased · Sustainable Technology Solutions

Asia-Pacific:

Chennai, India · Leased · All

Majura Park, Australia · Leased · Mission Technology Solutions

Delhi (Gurgaon), India · Leased · Sustainable Technology Solutions

Brisbane, Australia · Leased · Sustainable Technology Solutions

Sydney, Australia · Leased · Sustainable Technology Solutions

Melbourne, Australia · Leased · Sustainable Technology Solutions

Adelaide, Australia · Leased · Sustainable Technology Solutions

Canberra, Australia · Leased · Sustainable Technology Solutions

We also own or lease numerous small facilities that include sales and administrative offices as well as warehouses and equipment yards located throughout the world. We believe all properties that we currently occupy are suitable for their intended use. For more information regarding our lease commitments, refer to Note 15. "Leases" to our consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K.

Item 2 of the 10-K filed Feb 26, 2026.18

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

M. W. Kellogg

M.W. Kellogg Company was founded by Morris Woodruff Kellogg in New York City in 1901. At first, it specialized in oil refining and pipe design. In 1905 the company moved its headquarters to Jersey City, where it remained until 1971.

Kellogg's entry into process engineering initially focused on the Fleming cracking process, but in the 1920s Kellogg partnered with The Texas Company (Texaco) and Standard Oil of Indiana to purchase the Cross thermal cracking process. Kellogg set up one of the first petroleum laboratories in the country in 1926 to commercialize and then license the technology. This led to Kellogg building some 130 units in the United States and abroad.

In the 1940s, M.W. Kellogg built the first commercial FCC (fluid catalytic cracking) unit. It was commissioned in May 1942. Over the next two years, the company built 22 of the 34 FCC units constructed throughout the U.S.

Even bigger than the refining work was K-25, the gaseous diffusion plant at Oak Ridge, Tennessee, developed by Kellogg subsidiary the Kellex Corporation, built as part of the Manhattan Project. This period also included the development of the Benedict–Webb–Rubin (BWR) equation of state which has since become an industry mainstay and provided the basis for Kellogg's lead in cryogenics.

The 1950s Kellogg technology expanded into steam pyrolysis, Orthoflow fluid catalytic cracking, phenol-from-cumene and coal-to-synthetic fuels technologies and the 1960s saw the growth in helium recovery, ethylene, and the development of Kellogg's ammonia process. Kellogg maintained New York offices at 225 Broadway in the Transportation Building until 1956 when it moved to 711 Third Avenue in Midtown.

In 1973, M.W. Kellogg received five contracts from China for the construction of large-scale ammonia plants. Kellogg's international work expanded to include major ammonia complexes in China, Indonesia, and Mexico as well as an LNG liquefaction plant in Algeria and two receiving terminals in the United States, the world's largest LPG plant in Kuwait and several fluid catalytic cracking units in Mexico.

Kellogg underwent numerous acquisitions and name changes until 1987, when it was acquired by Dresser Industries, a provider of integrated services and project management for the oil and gas industry. Ten years later, Halliburton acquired Dresser, and combined Kellogg with the company Brown & Root to create a new, larger subsidiary – Kellogg Brown & Root (KBR).

Brown & Root

Brown & Root was founded in Texas in 1919 by Herman Brown and Daniel Root, with money provided by Root (Brown's brother in law). Root soon died and Herman Brown's younger brother, George R. Brown, joined the company in 1922 (according to Robert A. Caro's The Path to Power). The company began its operations by building roads in Texas.

Read the full text

One of its first large-scale projects, according to the book Cadillac Desert, was building a dam on the Texas Colorado River near Austin during the Depression years. For assistance in federal payments, the company turned to the local Congressman, Lyndon Johnson. Brown & Root was the principal source of campaign funds after Johnson's initial run for Congress in 1937, in return for persuading the Bureau of Reclamation to change its rules against paying for a dam on land the federal government did not own, a decision that had to go all the way to President Franklin Delano Roosevelt. After other very profitable construction projects for the federal government, Brown & Root gave massive sums of cash for Johnson's first run for the U.S. Senate in 1941.

During World War II, Brown & Root built the Naval Air Station Corpus Christi and its subsidiary Brown Shipbuilding produced a series of warships for the U.S. government. In 1947 Brown & Root built one of the world's first offshore oil platforms.

According to Tracy Kidder's book Mountains Beyond Mountains, Brown & Root was a contractor in the Péligre Dam project. The project was designed by the U.S. Army Corps of Engineers and financed by the Export-Import Bank of the United States.

Halliburton years

Following the death of Herman Brown, Halliburton Energy Services acquired Brown & Root in December 1962. According to Dan Briody, who wrote a book on the subject, the company became part of a consortium called RMK-BRJ that built about 85 percent of the infrastructure needed by the U.S. Armed Forces during the Vietnam War. In 1967, the Government Accounting Office alleged that Brown & Root had been unaccountable with public funds and allowed materials to be stolen. Donald Rumsfeld expressed concern that their contracts were not adequately audited. At this time, protesters derided Brown & Root as a symbol of war profiteering, dubbing the company "Burn & Loot".

In 1989, Halliburton acquired another major engineering and construction contractor, C. F. Braun Inc., of Alhambra California, and merged it into Brown & Root. From 1995 to 2002, Halliburton KBR was awarded at least $2.5 billion to construct and run military bases, some in secret locations, as part of the U.S. Army's Logistics Civil Augmentation Program (LOGCAP).

In September 2005, under a competitive bid contract it won in July 2005 to provide debris removal and other emergency work associated with natural disasters, KBR started assessment of the cleanup and reconstruction of Gulf Coast Marine and Navy facilities damaged in the aftermath of Hurricane Katrina. The facilities include: Naval Station Pascagoula, Naval Station Gulfport, the John C. Stennis Space Center in Mississippi, two smaller U.S. Navy facilities in New Orleans, Louisiana, and others in the Gulf Coast region.

Formation of KBR, Inc.

Halliburton announced on April 5, 2007, that it had separated from KBR, which had been its contracting, engineering, and construction unit as a part of the company for 44 years. On November 16, 2006, KBR shares were offered for the public in an initial public offering with shares priced at $17. The shares closed up more than 22 percent to $20.75 a share on the first trading day.

Growth

In May 2019, the company introduced new branding. At the end of 2023, KBR released KCap, a decarbonization technology offered in partnership with Hindustan Petroleum Corporation Ltd (HPCL), India.

As of 2024, the company supports various NASA programs, educational institutions, international partner space agencies, and commercial partners.

Spin-off of Mission Technology Solutions business as Trinzic

In September 2025, KBR’s board of directors approved the spin-off of the company’s government services division, Mission Technology Solutions (MTS). MTS is set to become a new, independent publicly-traded company on January 4, 2027. After the spinoff, the company's sustainable technology business will continue to operate as KBR.

In June 2026, Michael LaRouche was named President and CEO and Nicholas Veasey was named Executive Vice President and CFO of the spin-off. On July 30, 2026, KBR announced the new company would operate under the name Trinzic.

From Wikipedia’s article on KBR, Inc., shared under CC BY-SA 4.0.8

Leadership

Who has led KBR, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (54)

Products and brands

Operations

GICS Code Reclassification

In April 2019, KBR's GICS code was reclassified as an IT consulting company by stock traders. MSCI, a New York firm that manages how companies are classified on various stock exchanges, reclassified KBR as a company specializing in "IT Consulting & Other Services." KBR has made a shift away from engineering and construction projects to government contracts that include information technology and other support services. KBR's government services sector accounted for more than 70 percent of the company's $4.9 billion revenue in 2018.

Facilities

KBR maintains offices and operational facilities in multiple countries supporting its engineering, technology, and professional services businesses. The company's corporate headquarters are located in Houston, Texas, where KBR occupies approximately 900,000 square feet of office space at 601 Jefferson Street.

In 2008, KBR announced plans to develop a new office complex near the intersection of the Grand Parkway and Interstate 10 in western Harris County, Texas, between Houston and Katy, while maintaining a corporate presence in Downtown Houston. Later that year, the company canceled the project, citing economic conditions.

In January 2010, KBR announced plans to expand its downtown Houston presence and extend its lease commitments. The expansion replaced the previously proposed Harris County development and increased KBR's leased office space in downtown to more than 1.2 million square feet (110,000 m²).

Read the full text

In 2026, KBR opened an Innovation Studio in Bengaluru, India, in partnership with Applied Computing. The facility supports industrial artificial intelligence applications, remote monitoring, and advisory services using KBR's INSITE 3.0 platform and Applied Computing's Orbital system, for clients in the energy and industrial sectors and to expand KBR's digital capabilities in industrial operations.

Aerospace Environment Protection Lab

KBR's Aerospace Environment Protection Lab is in San Antonio. It was previously the Brooks Air Force Base. The lab is used for intensive training of United States Air Force, Navy, and Marine Corps aviators. It includes "the pit," which houses a centrifuge that simulates high G-forces; altitude chambers used for training deep space pilots or astronauts; and hyperbaric chambers used to help the body heal and fight infections. It also houses the Panama Chamber, which is the oldest known dive chamber in the world. It was used during the construction of the Panama Canal.

Digital Engineering Lab

In May 2025, KBR opened its new Digital Engineering Lab in Dayton, Ohio. At the lab, KBR and Wright-Patterson Air Force Base leadership plan, design, and test various systems for Air Force and military customers. The lab allows for the creation of prototype digital twins and uses KBR's “Game” simulation design tool to test designs before fabrication.

Sustainable technologies

KBR licenses PureSAF technology, a sustainable aviation fuel technology developed by Swedish Biofuels.

In 2023, KBR was awarded a design and engineering contract from The Chemours Company to “increase and advance” technology for its membrane technology to support the hydrogen economy.

In 2024, KBR was selected to provide project management services for the design and construction of a refinery in Lobito, Benguela Province. It was also selected by First State Hydrogen, Inc. to support the "feasibility and development" of its first clean hydrogen production facility in the U.S. mid-Atlantic region.

In September 2024, KTJV, a KBR and Technip Energies joint venture, received a contract to convert an existing natural gas import regasification terminal to a liquefied gas export plant.

In 2026, PureSAF was selected for proposed commercial-scale facilities in Latvia, Singapore and Kazakhstan, including a planned 100,000-ton-per-year facility in Singapore and Kazakhstan's first SAF production plant.

Sustainable technology & decarbonization

In the 2020s and early 2024, KBR announced multiple sustainable technology, decarbonization, and low-carbon projects worldwide. Some of these include:

Ammonia Technology Projects

KazAzot (Kazakhstan): KBR’s ammonia technology was selected for what is described as the country’s first world-scale fertilizer complex.

Shell Blue Horizons (Oman): Shell selected KBR’s “blue ammonia” technology for the Blue Horizons project, supporting hydrogen and ammonia production in Oman.

AMUFERT (Angola): KBR’s ammonia technology was adopted for a major nitrogen-fertilizer production facility in Angola.

Refining and Petrochemicals

Zhejiang Petroleum (China): KBR’s Residuum Oil Supercritical Extraction (ROSE) technology was chosen for what is reported as the largest solvent deasphalting (SDA) unit in China.

Sabic Fujian Petrochemicals: KBR’s phenol technology was selected by Sabic Fujian for a petrochemical project in Fujian Province, China.

Sustainable Aviation Fuels

Avina (U.S.): KBR entered into a front-end engineering and design (FEED) and technology licensing agreement with Avina for sustainable aviation fuel (SAF) technology.

Propylene Oxide

Sumitomo Chemical Alliance: KBR and Sumitomo Chemical formed a technology licensing alliance to develop more sustainable methods of producing propylene oxide.

Lithium Extraction

GeoLith Alliance: KBR and GeoLith entered an exclusive alliance to globally license a proprietary direct-lithium-extraction (DLE) technology that aims to reduce emissions and water usage.

Space technology

In 1968, KBR was awarded a contract to conduct cardiovascular health research on astronauts.

The company announced on November 7, 2017, that KBR secured a contract to provide astronaut medical support services for the European Space Agency's European Astronaut Center Space Medicine Office in Cologne, Germany.

Scientists and engineers working for KBR contributed to the development and deployment of the James Webb Space Telescope, which launched in 2022, as part of various Mechanical Integration Services and Technology contracts.

In 2024, KBR was awarded a U.S. Navy contract for the continued development of space science instrument systems at the Naval Research Lab (NRL). The focus of the contract was on the “design, development, analysis, fabrication, inspection, assembly, integration, testing, and documentation of sophisticated space science instruments and experimental payloads.”

For over a decade, KBR worked with the U.S. government on a space domain awareness platform called Iron Stallion. The platform tracks everything in space, runs predictive models on where assets are supposed to be, and flags users when that is not the case. As of June 2024, the platform was in a cloud environment, converted for commercial use. It had been sold to the U.K. and Australia.

From Wikipedia’s article on KBR, Inc., shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Subsidiaries

Also owns

Subsidiaries (Exhibit 21)

  • AOC International Limited United Kingdom9
  • Affinity Capital Works Limited United Kingdom9
  • Affinity Flying Services Limited United Kingdom9
  • Affinity Flying Training Services Limited United Kingdom9
  • Asesoria Gerencial de Recursos Humanos, S. de R.L. de C. V. Mexico9
  • Aspire Defence Capital Works JV United Kingdom9
  • Aspire Defence Finance PLC United Kingdom9
  • Aspire Defence Holdings Limited United Kingdom9
  • Aspire Defence Limited United Kingdom9
  • Aspire Defence Services JV United Kingdom9
  • Aspire Defence Services Limited United Kingdom9
  • BE&K de Mexico, S.A. de C.V. Mexico9
  • BetterKonnected Joint Venture Australia9
  • Blandford Offshore Services Limited United Kingdom9
  • Bonny 7 Project Management Company Limited United Kingdom9
  • Bristol Management Centre Limited United Kingdom9
  • Brown & Root Highlands Fabricators Limited United Kingdom9
  • Brown & Root Industrial Services Canada Corporation Canada9
  • Brown & Root Industrial Services De Mexico Mexico9
  • Brown & Root Industrial Services Puerto Rico C.R.L. Puerto Rico9
  • Eitec LTD United Kingdom9
  • FTX Logistics Limited United Kingdom9
  • Fasttrax Holdings Limited United Kingdom9
  • Fasttrax Limited United Kingdom9
All 133 listed subsidiaries
  • Frazer-Nash Australia Pty Ltd Australia9
  • Frazer-Nash Consultancy Limited United Kingdom9
  • Granherne Limited United Kingdom9
  • Harmonic Limited United Kingdom9
  • Howard Humphreys (Kenya) Limited Kenya9
  • Infrastar Limited United Kingdom9
  • JGC-KBR Venture (In Salah Project) Cayman Islands9
  • KBR (Aspire Construction Ventures) Holdings Ltd United Kingdom9
  • KBR (Aspire Construction Ventures) Holdings No 2 Ltd United Kingdom9
  • KBR (Aspire Construction Ventures) Ltd United Kingdom9
  • KBR (Aspire Construction) Holdings Limited United Kingdom9
  • KBR (Aspire Construction) Holdings No.2 Limited United Kingdom9
  • KBR (Aspire Construction) Limited United Kingdom9
  • KBR (Aspire Services Ventures) Holdings Ltd United Kingdom9
  • KBR (Aspire Services Ventures) Holdings No.2 Ltd United Kingdom9
  • KBR (Aspire Services Ventures) Ltd United Kingdom9
  • KBR (Aspire Services) Holdings Limited United Kingdom9
  • KBR (Aspire Services) Holdings No.2 Limited United Kingdom9
  • KBR (Aspire Services) Limited United Kingdom9
  • KBR (I) Limited United Kingdom9
  • KBR (U.K.) Investments Limited United Kingdom9
  • KBR - Aurecon Joint Venture Australia9
  • KBR Abr al Bihar General Services, Trade and General Contracting, LLC Iraq9
  • KBR Al-Yusr Limited Company Saudi Arabia9
  • KBR Arabia Limited Saudi Arabia9
  • KBR Australia Pty Ltd Australia9
  • KBR Canada Ltd Canada9
  • KBR Conscia JV Australia9
  • KBR Employment Services Limited United Kingdom9
  • KBR GMBH Germany9
  • KBR General Partner Limited United Kingdom9
  • KBR Gerenciamento de Projectos e Servicos de Estudos Industriais Conceituais Basicos E De. Brazil9
  • KBR Global Project Support Limited Cayman Islands9
  • KBR Holdings Pty Ltd Australia9
  • KBR Industrial Canada Co. Canada9
  • KBR Investments Limited United Kingdom9
  • KBR Jacobs JV (Kingsford Smith Drive Upgrade Project) Australia9
  • KBR Jersey Limited Jersey9
  • KBR Monterrey S.A. de C.V. Mexico9
  • KBR PNG Limited Papua New Guinea9
  • KBR Poland Spolka z.o.o. Poland9
  • KBR Services Canada ULC Canada9
  • KBR Services Cayman Limited Cayman Islands9
  • KBR Services, S.A.R.L. Djibouti9
  • KBR WABI LTD. Canada9
  • KBR-Aurecon JV-SA Water Australia9
  • KBR-Aurecon JV-Water Sec Australia9
  • KBR-Descon JV Qatar9
  • KBS Maritime Limited United Kingdom9
  • KHA Defence Solutions Pty Ltd Australia9
  • KSA-AJO JV Indonesia9
  • Kellogg (Malaysia) Sdn. Bhd. Malaysia9
  • Kellogg Brown & Root (Greenford) Limited United Kingdom9
  • Kellogg Brown & Root (Norway) AS Norway9
  • Kellogg Brown & Root (Services) Limited United Kingdom9
  • Kellogg Brown & Root (U.K.) Limited United Kingdom9
  • Kellogg Brown & Root (Ukraine) LLC Ukraine9
  • Kellogg Brown & Root Asia Pacific Pte Ltd Singapore9
  • Kellogg Brown & Root Consultancy (Malaysia) Sdn Bhd Malaysia9
  • Kellogg Brown & Root Engineering & Construction India Private Limited India9
  • Kellogg Brown & Root Engineering Consultancy LLC Oman9
  • Kellogg Brown & Root GmbH Germany9
  • Kellogg Brown & Root Group Limited United Kingdom9
  • Kellogg Brown & Root Healthcare Trustee Limited United Kingdom9
  • Kellogg Brown & Root Holding B.V. Netherlands9
  • Kellogg Brown & Root Holdings (U.K.) Limited United Kingdom9
  • Kellogg Brown & Root Holdings Limited United Kingdom9
  • Kellogg Brown & Root Iberia, S.L. Spain9
  • Kellogg Brown & Root International (MWK) Limited United Kingdom9
  • Kellogg Brown & Root International Group Limited United Kingdom9
  • Kellogg Brown & Root Investment Holdings Limited United Kingdom9
  • Kellogg Brown & Root Limited United Kingdom9
  • Kellogg Brown & Root Limited- Azmi Abdullatif Abdulhadi and Abdullah Mahana Al-Moaibed Professional Company Saudi Arabia9
  • Kellogg Brown & Root Nigeria Limited Nigeria9
  • Kellogg Brown & Root Overseas Limited United Kingdom9
  • Kellogg Brown & Root Overseas Projects Limited United Kingdom9
  • Kellogg Brown & Root Projects Limited United Kingdom9
  • Kellogg Brown & Root Pty Ltd Australia9
  • Kellogg Brown & Root Pty Ltd & MetConnx Australia9
  • Kellogg Brown & Root Pty Ltd - Transport for Tomorrow Australia9
  • Kellogg Brown & Root Pty Ltd - WaterSecure Australia9
  • Kellogg Brown & Root Regional Headquarters Saudi Arabia9
  • Kellogg Brown & Root Saudi Ltd. Co. Saudi Arabia9
  • Kellogg Brown & Root Services B.V. Netherlands9
  • Kellogg Brown & Root Services LLC Oman9
  • Kellogg Brown & Root Sustainable Technology Solutions Limited United Kingdom9
  • Kellogg Brown & Root Technology (Beijing) Co. Ltd China9
  • Kellogg Brown & Root Trustees Limited United Kingdom9
  • Kellogg France, S.A. France9
  • Labor Support Services Limited Cayman Islands9
  • Laurel Financial Services B.V. Netherlands9
  • Mantenimiento Marino de Mexico, S. de R.L. de C.V. Mexico9
  • Mission Technologies Defence Pty Ltd Australia9
  • Mission Technologies Holdings Pty Ltd Australia9
  • Mission Technologies Services Pty Ltd Australia9
  • Overseas Supply Services Limited United Kingdom9
  • PT KBR Indonesia Indonesia9
  • PT Roberts Schaefer Soros Indonesia Indonesia9
  • Phoenix (U.K.) Fusion Limited United Kingdom9
  • Semi Sub Services B.V. Netherlands9
  • Solar MTS Limited United Kingdom9
  • Systra - KBR Joint Venture Australia9
  • Technical Staffing Resources Limited United Kingdom9
  • VIMA Bristol Limited United Kingdom9
  • VIMA Consultancy Limited United Kingdom9
  • VIMA Group Consultancy Limited United Kingdom9
  • VIMA Group Holdings Limited United Kingdom9
  • VIMA Group Services Limited United Kingdom9
  • Åström Logistics AB Sweden9

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Acquisitions

  1. Jul 5, 2016Acquired Wyle Laboratories1

On May 7, 2008, the company announced that it would acquire Birmingham, Alabama-based engineering and construction firm BE&K for $550 million.

In 2016, KBR acquired Wyle Engineering company. That same year KBR acquired Honeywell Technology Solutions Inc.

In February 2018, KBR announced that it would acquire Stinger Ghaffarian Technologies, a provider of technological solutions as well as mission operations in the aerospace sector, for $355 million. The acquisition was completed April 25, 2018.

In October 2020, KBR announced it had completed the acquisition of Centauri, LLC, a leading independent provider of space, directed energy, and other advanced technology solutions to the United States intelligence community and Department of Defense, from Arlington Capital Partners.

Read the full text

In October 2021, KBR purchased UK and Australian systems, engineering and technology company Frazer-Nash Consultancy from Babcock International Group for a reported £293 million.

In 2022, KBR acquired the UK-based VIMA Group, a digital transformation technology company.

In July 2024, KBR agreed to acquire LinQuest Corp., a specialist in national security space systems. The purchase was finalized in September. It set KBR up as one of the largest support contractors for the Space Force's Space Systems Command, based in Los Angeles, CA. LinQuest was merged into KBR's Government Solutions segment and Defense and Intel business unit.

From Wikipedia’s article on KBR, Inc., shared under CC BY-SA 4.0.8

Timeline

  1. Oct 1, 20268-K Executive or director change102
  2. Jul 30, 20268-K Results of operations103
  3. Jul 10, 20268-K Executive or director change104
  4. May 18, 20268-K Shareholder vote105
  5. May 5, 20268-K Results of operations106
  6. Feb 26, 20268-K Results of operations107
  7. Oct 30, 20258-K Results of operations108
  8. Oct 22, 20258-K Executive or director change109
  9. Sep 24, 20258-K Executive or director change; Regulation FD disclosure110
  10. Aug 22, 20258-K Executive or director change111
  11. Aug 7, 20258-K Executive or director change112
  12. Jul 31, 20258-K Results of operations113
  13. Jun 9, 2014New chief executive Stuart Bradie becomes CEO19
  14. Nov 16, 2006Went public Listed on NYSE1
  15. Nov 15, 2006New chief executive William P. Utt becomes CEO20
  16. 1998Founded Founded1

Calendar

Coming up

  1. Oct 29, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $1.02 a share, on Oct 30, 2025.114

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results103
  2. May 5, 2026Reported quarterly or annual results106
  3. Feb 26, 2026Reported quarterly or annual results107
  4. Oct 30, 2025Reported quarterly or annual results108
  5. Jul 31, 2025Reported quarterly or annual results113
  6. May 6, 2025Reported quarterly or annual results115
  7. Feb 24, 2025Reported quarterly or annual results116
  8. Oct 23, 2024Reported quarterly or annual results117

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

473 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 344 insider forms, 20 large holders, 27 other. The latest 20:

  1. Oct 9, 20263 EDGAR
  2. Oct 1, 20268-K CURRENT REPORT EDGAR
  3. Aug 13, 2026SCHEDULE 13G/A EDGAR
  4. Aug 6, 20264 EDGAR
  5. Jul 30, 202610-Q EDGAR
  6. Jul 30, 20268-K EDGAR
  7. Jul 17, 20264 EDGAR
  8. Jul 17, 20264 EDGAR
  9. Jul 17, 20264 EDGAR
  10. Jul 10, 20268-K CURRENT REPORT EDGAR
  11. May 21, 20264 EDGAR
  12. May 21, 20264 EDGAR
  13. May 18, 20268-K CURRENT REPORT EDGAR
  14. May 15, 20264 EDGAR
  15. May 15, 20264 EDGAR
  16. May 12, 20264 EDGAR
  17. May 12, 20264 EDGAR
  18. May 6, 2026SCHEDULE 13G EDGAR
  19. May 5, 202610-Q EDGAR
  20. May 5, 20268-K EDGAR

The 473 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

27 open-market trades by officers, directors and large owners since October 2021: 8 buys and 19 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 20, 2026MOORE JACK BDirectorBuy4,000$31.44$125.8KForm 4
May 19, 2026Sabater Carlos A.DirectorBuy14,500$32.47$470.8KForm 4
May 14, 2026Von Thaer LewisDirectorBuy3,000$30.77$92.3KForm 4
May 13, 2026Evans Shad E.EVP & Chief Financial OfficerBuy8,375$30.60$256.3KForm 4
Jun 18, 2025Bradie StuartPresident and CEOSale20,000$52.81$1.1MForm 4
Mar 14, 2025Conlon Gregory SeanChief Digital & DevelopmentSale19,000$50.59$961.2KForm 4
Aug 19, 2024Ibrahim JalalPres., Sustainable Tech SolnsSale35,000$66.56$2.3MForm 4
May 20, 2024GALINDO SONIAEVP, Gen. Counsel & Corp. Sec.Sale4,660$66.00$307.6KForm 4
Feb 22, 2024Myles JenniferEVP, Chief People OfficerSale8,000$58.95$471.6KForm 4
Nov 8, 2023SOPP MARK WEVP, Strategic TransactionsBuy5,000$51.53$257.6KForm 4
Aug 11, 2023Bright William Byron Jr.Chief Operating OfficerSale20,000$60.68$1.2MForm 4
Jun 20, 2023Myles JenniferEVP, Chief People OfficerSale480$65.32$31.4KForm 4
Jun 5, 2023Bradie StuartPresident and CEOSale119,889$61.21$7.3MForm 4
May 23, 2023Bradie StuartPresident and CEOSale900$59.20$53.3KForm 4
May 18, 2023Bradie StuartPresident and CEOSale2,387$59.51$142.1KForm 4
Mar 9, 2023LYLES LESTER LDirectorSale17,000$54.81$931.8KForm 4
Feb 21, 2023Myles JenniferEVP, Chief People OfficerSale4,714$54.49$256.9KForm 4
Dec 16, 2022Myles JenniferEVP, Chief People OfficerSale1,449$50.36$73.0KForm 4
Nov 28, 2022Kelly Douglas NickPresident, TechnologySale3,456$51.35$177.5KForm 4
Aug 19, 2022Conlon Gregory SeanChief Digital & DevelopmentSale14,564$52.09$758.6KForm 4

All 27 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Stuart J. B. Bradie59$1.3M$11.6M124
2025Mark W. Sopp$784.6K$3.4M124
2025W. Byron BrightJr.$423.5K$2.9M124
2025J. Jay Ibrahim$717.8K$2.8M124
2025Sonia Galindo$686.8K$2.6M124
2025Jenni Myles$567.6K$2.1M124
2024ChairPresident &$1.3M$12.6M124
2024EVP & Chief Financial$768.5K$3.7M124
2024Former Chief Operating$738.1K$3.2M124
2024PresidentSustainable$701.8K$3.0M124
2024EVP, General Counsel &Corporate Secretary$672.7K$2.8M124
2024EVPChief People Officer$542.0K$2.3M124
2023Chief Executive Officer$1.2M$12.7M124
2023Officer$705.2K$3.7M124
2023Technology Solutions$615.8K$2.9M124
2023EVPChief People Officer$479.2K$2.3M124

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fmr LLC18,053,338$623.4M0.0%−916,543
BlackRock, Inc.13,897,824$479.9M0.0%+395,432
Invesco Ltd.8,353,001$288.4M0.0%+1,817,530
Vanguard Portfolio Management LLC6,166,056$212.9M0.0%+43,574
Vanguard Capital Management LLC5,707,369$197.1M0.0%+38,573
Neuberger Berman Group LLC4,622,881$159.4M0.1%+1,790,200
State Street Corp4,490,033$155.7M0.0%+368,123
Dimensional Fund Advisors LP3,351,248$115.7M0.0%+689,792
UBS Group AG2,929,764$101.2M0.0%+2,455,644
Massachusetts Financial Services Co /ma/2,381,015$82.2M0.0%+18,223
Geode Capital Management, LLC2,344,934$81.0M0.0%−9,136
Snyder Capital Management L P2,262,395$78.1M1.3%+17,187
Cooperman Leon G2,125,000$73.4M2.1%No change
Engine Capital Management, LP1,855,642$64.1M6.2%+324,329
Norges Bank1,716,475$59.3M0.0%New
Van Eck Associates Corp1,661,519$57.4M0.0%−191,082
Copeland Capital Management, LLC1,436,669$49.6M1.0%+67,777
Alliancebernstein L.P.1,337,342$49.3M0.0%+1,194,820
Gates Capital Management, Inc.1,422,729$49.1M1.6%−668,836
Nomura Asset Management International Inc.1,420,967$49.1M0.1%−135,395
Morgan Stanley1,373,559$47.4M0.0%−168,239
First Trust Advisors LP1,341,712$46.3M0.0%+422,315
Gotham Asset Management, LLC1,340,013$46.3M0.1%+847,809
Deprince Race & Zollo Inc1,336,414$46.1M0.8%New
Northern Trust Corp1,274,553$44.0M0.0%+22,090

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How KBR, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARKBR, INC.2
  • CIK0001357615
  • Employer ID (EIN)20-453677418
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsJanuary 12
  • Industry code (SIC)1600 Heavy Construction Other Than Bldg Const - Contractors2
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
  • Business address601 Jefferson Street, Suite 3400, Houston, TX 770022
  • Phone(713) 753-20002
  • Shares outstanding126,067,755 as of Jul 22, 202616
  • Public float$6.1B as of Jul 4, 202518
  • AuditorKPMG LLP, Houston, Texas PCAOB ID 185; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceApr 14, 20062
  • Filings1,889 in all: 4 (1,139), 8-K (278), 3 (82), SC 13G/A (68), 10-Q (59), UPLOAD (41), CORRESP (35), 425 (30)2
    All 35 form types

    SC 13G (25), DEFA14A (22), 10-K (20), DEF 14A (20), 8-K/A (9), 144 (8), 4/A (7), S-1/A (7), S-8 (6), ARS (5), SCHEDULE 13G/A (4), 10-Q/A (3), 10-K/A (2), EFFECT (2), FWP (2), PRE 14A (2), S-4/A (2), SCHEDULE 13G (2), 3/A (1), 424B1 (1), 424B3 (1), 5 (1), 8-A12B (1), CERTNYS (1), NT 10-Q (1), S-1 (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Mar 30, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock par value $0.001 per shareKBRNew York Stock Exchange

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks KBR, Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 54 risks under these headings, as written.18

  • Risks Related to Operations of Our Business
  • A significant portion of our revenues is generated by large, recurring business from certain significant customers, including the U.S. government. Any loss, cancellation or delay in one or more projects by our significant customers in the future could negatively affect our financial performance.
  • We depend on U.S. and foreign government agencies as our primary customers in our MTS business segment and, if our reputation or relationships with these agencies were to be harmed, it could adversely impact our financial performance.
  • Our results of operations and cash flows depend on the award of new contracts and the timing of the performance of existing contracts.
  • Ongoing international conflicts, and other geopolitical conditions, may adversely affect our business and results of operations.
  • Uncertainty over global tariffs, or the financial impact of tariffs, may negatively impact our business and results of operations.
  • If there are any successful intellectual property infringement proceedings against us, our competitive position could be adversely impacted.
  • We may not properly leverage or appropriately invest in technology advancements, which could diminish any sustainable competitive advantage in our service offerings resulting in the potential loss of market share and profits.
  • We may use artificial intelligence, machine learning, data science and similar technologies in our business, and challenges with properly managing such technologies could result in reputational harm, competitive harm and legal liability, and adversely affect our business, financial condition and results of operations.
  • If we are unable to attract and retain senior management and key technical professionals with elite skills and appropriate government qualifications, our ability to pursue and compete for projects to grow our business may be adversely affected, our operating income may decrease and our reputation may be negatively impacted.
  • The nature of our business exposes us to potential liability claims and contract disputes that may exceed or be excluded from existing insurance coverage.
  • Dependence on third-party subcontractors, suppliers and equipment manufacturers could adversely affect our financial performance on contracts.
The other 43 risks
  • Employee, agent or partner misconduct, or our overall failure to comply with laws or regulations, could weaken our ability to win contracts, which could result in reduced revenues and profits.
  • We depend on our teaming arrangements and relationships with other contractors and subcontractors. If we are not able to maintain these relationships, or if these parties fail to satisfy their obligations to us or the customer, our business, financial condition and results of operations could be adversely affected.
  • We use estimates in recognizing revenues, and if we make changes to estimates used in recognizing revenues, our profitability may be adversely affected.
  • We conduct a portion of our operations through joint ventures and partnerships, exposing us to risks and uncertainties, many of which are outside of our control.
  • The nature of our contracts, particularly those that are fixed-price, subjects us to risks associated with cost overruns, operating cost inflation and potential claims for liquidated damages.
  • Our backlog of unfilled orders is subject to unexpected adjustments and cancellations and, therefore, may not be a reliable indicator of our future revenues or earnings.
  • We have made and may continue to make business combinations as a part of our business strategy, which may present certain risks and uncertainties.
  • International and political events may adversely affect our operations.
  • Internal or external cybersecurity or privacy breaches, or systems and information technology interruption or failure could adversely impact our ability to operate or expose us to significant financial losses and reputational harm.
  • An impairment of all or part of our goodwill or our intangible assets could have a material adverse impact on our net earnings and net worth.
  • Our actual results could differ from the estimates and assumptions used to prepare our financial statements.
  • Global pandemics, epidemics, outbreaks of infectious diseases or public health crises have disrupted our business and could have a material adverse effect on our future results of operations and financial performance.
  • We ship a significant amount of cargo using seagoing vessels, exposing us to certain maritime risks.
  • Risks Related to the Planned Spin-Off of Mission Technology Solutions
  • We are subject to risks related to our plan to spin off our Mission Technology Solutions business into a standalone, publicly traded company.
  • Following the Planned Spin-Off, we and the spun-off Mission Technology Solutions business may face stranded costs, loss of economies of scale, and higher operating expenses than currently anticipated, which could materially adversely affect our profitability.
  • Our operations may be significantly disrupted during and following the Planned Spin-Off process, and we will be dependent on the spun-off entity’s performance under various transition agreements, the failure of which could materially harm our business.
  • Risks Related to Our Industry
  • The U.S. government awards its contracts through a rigorous competitive process and our efforts to obtain future contracts from the U.S. government may be unsuccessful.
  • Our profitability and cash flow may vary based on the mix of our contracts and programs, our performance and our ability to control costs.
  • The U.S. government may issue or revise existing rules, regulations and directives, adopt new contract rules and regulations or revise its procurement practices in a manner adverse to us at any time.
  • Heightened competition could impact our ability to obtain contracts which could reduce our market share and profits.
  • Our U.S. government contract work is regularly reviewed and audited by the U.S. government, U.S. government auditors and others, and these reviews can lead to withholding or delay of payments to us, non-receipt of award fees, legal actions, fines, penalties and liabilities and other remedies against us.
  • Several of our contracts with the U.S. government are classified or subject to other security restrictions, which may limit investor insight into portions of our business.
  • Demand for our services provided under government contracts is directly affected by spending by our customers.
  • Fluctuations in commodity prices and outlook may affect our customers’ investment decisions which may result in existing project cancellations or delays or changes in the timing and funding of new awards.
  • Risks Related to Financial Conditions and Markets
  • Current or future economic conditions, including recession or inflation, in credit markets may negatively affect the ability to operate our business, finance working capital, implement our acquisition strategy and access our cash and short-term investments.
  • We may be unable to obtain new contract awards if we are unable to provide our customers with letters of credit, surety bonds or other credit enhancements.
  • Our Senior Credit Facility imposes restrictions that limit our operating flexibility and may result in additional expenses, and such facility may not be available if financial covenants are violated or if an event of default occurs.
  • Our indebtedness and the associated covenants could materially adversely affect our ability to obtain additional financing, including for acquisitions and capital expenditures, limit our flexibility to manage our business, prevent us from fulfilling our financial obligations and restrict our use of capital.
  • We may be required to contribute additional cash to meet any unfunded benefit obligations associated with our defined benefit plans.
  • We are subject to foreign currency exchange risks that could adversely affect our results of operations and our ability to reinvest earnings from operations. Our ability to mitigate our foreign exchange risk through hedging transactions may be limited.
  • Risks Related to Our Common Stock
  • If we need to sell or issue additional shares of common stock to refinance existing debt or to finance future acquisitions or operations, our existing shareholder ownership could be diluted.
  • Provisions in our charter documents, Delaware law and our Senior Credit Facility may inhibit a takeover or impact operational control that could adversely affect the value of our common stock.
  • We may change our dividend policy in the future.
  • Risks Related to Regulations, Compliance and Litigation
  • We could be adversely impacted if we fail to comply with international export and domestic laws, which are rigorously enforced by the U.S. government.
  • We are subject to anti-bribery laws in the U.S. and other jurisdictions, violations of which could result in suspension or debarment of our ability to contract with the U.S. state or local governments, U.S. government agencies or the U.K. MoD, third-party claims, loss of customers, adverse financial impact, damage to reputation and adverse consequences on financing for current or future projects.
  • Certain of our work sites are inherently dangerous and we are subject to various environmental and worker health and safety laws and regulations. If we fail to maintain safe work sites or to comply with these laws and regulations, we may suffer damage to our reputation and incur significant costs and penalties that could have a material adverse effect on our business, financial condition, results of operations and cash flows.
  • Our effective tax rate and tax positions may vary.
  • Our business and operations expose us to numerous legal and regulatory requirements, and any violation of these requirements could harm our business.
  • Our failure to comply with the laws and regulations governing OCIs could lead to penalties, including termination of one or more of our U.S. government contracts.
  • Investigations, audits, claims, disputes, enforcement actions, litigation, arbitration, or other legal proceedings could require us to pay potentially large damage awards or penalties and could be costly to defend, which would adversely affect our cash balances and profitability, and could damage our reputation.
  • Risks Related to Climate
  • There are rapidly evolving views from stakeholders, such as investors, customers and current and future employees, with respect to global climate risks and the related emphasis on sustainability practices, which could affect our business.
  • Climate risks and related environmental issues could have a material adverse impact on our business, financial condition and results of operations.
  • We may be unable to achieve our sustainability commitments and targets which could result in the loss of investors and customers and damage to our reputation.

Legal proceedings

Information relating to various commitments and contingencies is described in “Item 1A. Risk Factors” contained in Part I of this Annual Report on Form 10-K and in Notes 6, 13 and 14 to our consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K and the information discussed therein is incorporated by reference into this Part I, Item 3.

The opening of Item 3, Legal Proceedings.18

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