HOUSTON - KBR, Inc. (NYSE: NYSE:KBR), a global technology and engineering firm, has announced a contract with Rabigh Refining & Petrochemical Company (Petro Rabigh) to provide a five-year asset condition monitoring program at its facility in Rabigh, Saudi Arabia. The program is designed to enhance the performance and reliability of machinery while optimizing the asset lifecycle and supporting Petro Rabigh's commitment to safety and sustainability.
Jay Ibrahim, President of KBR Sustainable Technology Solutions, expressed the company's enthusiasm for the partnership, emphasizing the alignment of KBR's predictive maintenance services with Petro Rabigh's environmental, social, and governance (ESG) goals. The services aim to improve energy and equipment efficiency and reduce operational risks.
KBR, which employs approximately 34,000 people worldwide, offers a range of science, technology, and engineering solutions to government and commercial clients across more than 80 countries. The company's smart asset management solutions are part of its offerings to help customers achieve sustainable, world-class performance.
This new contract with Petro Rabigh is part of KBR's ongoing efforts to expand its services in the industrial sector and to support clients in maintaining efficient and sustainable operations. The information reported is based on a press release statement from KBR, Inc.
InvestingPro Insights
KBR, Inc. (NYSE: KBR) is making headlines with its new asset condition monitoring program for Petro Rabigh, underlining its commitment to supporting sustainable operations. As investors consider the potential impact of this contract on KBR's financial performance, InvestingPro data and tips provide valuable insights into the company's current market position and future outlook.
InvestingPro data reveals that KBR has a market capitalization of $8.53 billion, reflecting its significant presence in the technology and engineering sector. The company's revenue growth over the last twelve months as of Q4 2023 stands at 5.97%, indicating a steady increase in its business activities. Moreover, KBR's gross profit margin during the same period is 14.05%, which, while not the strongest, shows the company's ability to maintain profitability.
Among the InvestingPro Tips, it's noteworthy that KBR has raised its dividend for 4 consecutive years and has maintained dividend payments for 17 consecutive years, showcasing a strong commitment to returning value to shareholders. Additionally, analysts predict that the company will be profitable this year, which could be a positive sign for investors looking at the long-term potential of KBR, especially in light of its latest contract with Petro Rabigh.
For investors seeking a deeper dive into KBR's financial health and stock performance, InvestingPro offers additional tips, including insights on earnings revisions, stock volatility, and debt levels. With 11 more InvestingPro Tips available, investors can gain a comprehensive view of KBR's prospects by visiting https://www.investing.com/pro/KBR. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable, real-time data and analytics.
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