KBR

What does KBR do?
KBR provides engineering, technology, and professional services through two segments. Sustainable Technology Solutions delivers EPC services and technology licensing to commercial energy and industrial clients, focusing on ammonia, hydrogen, refining, and petrochemical projects. Mission Technology Solutions provides digital integration, AI, mission engineering, and rapid prototyping services to U.S. and allied government agencies, including the Department of Defense, NASA, and intelligence organizations.

Is KBR publicly traded?
Yes, KBR trades on the New York Stock Exchange under the ticker symbol KBR. The company was spun off from Halliburton in 2006 and 2007. As of January 30, 2026, there were approximately 126.5 million shares outstanding. Institutional investors including Vanguard, BlackRock, and State Street are among the largest shareholders.

What is KBR's revenue?
KBR reported fiscal 2025 revenue of $7.8 billion, up 1% from $7.7 billion in fiscal 2024. Net income was $415 million, up 11%, and adjusted EBITDA was $968 million, up 12%. Diluted EPS was $3.21, up 15%. For fiscal 2026, the company guided to revenue of $7.9 billion to $8.4 billion and adjusted EBITDA of $980 million to $1.04 billion.

What is the KBR spin-off?
In September 2025, KBR announced plans to spin off its Mission Technology Solutions segment into an independent publicly traded company called Trinzic. The spin-off is expected to be completed on January 4, 2027. Trinzic will enter the market with approximately $5 billion in annual revenue and 20,000 employees. Michael LaRouche, formerly CEO of Serco North America, will serve as Trinzic's CEO. The remaining KBR entity will continue under CEO Stuart Bradie, focused on the Sustainable Technology Solutions business.

Who owns KBR?
KBR is a publicly traded corporation with no controlling shareholder. Institutional investors hold the majority of shares, with Vanguard Group, BlackRock, and State Street among the largest holders. The company is governed by a board of directors and subject to SEC reporting requirements.

Where is KBR headquartered?
KBR is headquartered in Houston, Texas, USA. The company operates in more than 28 countries and serves customers in over 85 countries. Major operational centers include offices in Arlington, Virginia for government services, and technology centers in Houston and the United Kingdom for commercial engineering.

How many people does KBR employ?
KBR employs approximately 37,000 people worldwide. The Mission Technology Solutions segment accounts for about 20,000 employees, while the Sustainable Technology Solutions segment employs the remainder. Following the planned spin-off, Trinzic will carry approximately 20,000 employees as an independent company.

What controversies has KBR faced?
KBR has faced scrutiny over its LOGCAP III contract billing practices in Iraq, resulting in a $62 million settlement with the Department of Justice in 2011. The company has also faced litigation related to burn pit operations at military bases, with service members alleging health impacts. In June 2025, KBR's joint venture lost the U.S. Transportation Command household goods contract, which contributed to revenue uncertainty in the government services segment.

KBR's origins trace back to two separate companies. Brown & Root was founded in 1919 by brothers George and Herman Brown in Texas, initially building roads and bridges. M.W. Kellogg was established in 1900 by Morris Woodruff Kellogg in New York, specializing in piping and boiler fabrication for the petroleum industry. Both companies grew through major industrial and government contracts, with Brown & Root constructing the Corpus Christi Naval Air Station during World War II and the Mansfield Dam in the 1940s.

Brown & Root merged with Halliburton Company in 1962 in a stock transaction. Around the same time, M.W. Kellogg became part of the Pullman Corporation. In 1991, Halliburton acquired the M.W. Kellogg construction business and combined it with Brown & Root to form Brown & Root Services. This entity handled large-scale government logistics contracts, including the U.S. Army's LOGCAP contract for base camp operations in the Balkans and the Middle East during the 1990s and 2000s.

KBR was incorporated as a separate subsidiary of Halliburton in 2006 and spun off as an independent public company via an IPO in November 2006, with Halliburton distributing its remaining KBR shares to shareholders in April 2007. At the time of the spin-off, KBR inherited LOGCAP III contracts in Iraq and Afghanistan, which generated significant revenue but also drew scrutiny over billing practices and contract oversight.

Following independence, KBR expanded beyond government logistics into commercial engineering. The company acquired the Washington Group's government services division in 2008, then purchased Honeywell's technology and engineering solutions business in 2010. A series of further acquisitions through the 2010s added capabilities in space systems, cybersecurity, and data analytics. The 2018 acquisition of the Sierra Nevada Corporation's engineering and technology services unit expanded KBR's NASA and intelligence community work.

In September 2025, KBR announced plans to separate its Mission Technology Solutions segment into an independent publicly traded company. The spin-off, named Trinzic, is expected to launch on January 4, 2027, with approximately $5 billion in annual revenue and 20,000 employees. Michael LaRouche, formerly CEO of Serco North America, was appointed as Trinzic's CEO-designate. Following the separation, the remaining KBR entity will continue under CEO Stuart Bradie, focused on the Sustainable Technology Solutions business.

KBR has set science-based emissions reduction targets through the Science Based Targets initiative (SBTi). The company committed to achieving carbon neutrality by 2050 and has established interim targets for Scope 1 and Scope 2 emissions. KBR publishes an annual sustainability report detailing its environmental performance, safety metrics, and progress toward emissions goals.

On the commercial side, KBR's technology portfolio supports clients in reducing carbon intensity through ammonia and hydrogen process technologies designed for lower emissions. The company's blue ammonia technology, which integrates carbon capture with ammonia synthesis, has been licensed for projects in the United States and the Middle East.

KBR's government services segment operates under federal compliance requirements including the Defense Contract Audit Agency standards and the Federal Acquisition Regulation. The company has faced past scrutiny over LOGCAP contract billing practices in Iraq, resulting in settlements with the Department of Justice. Current operations are subject to ongoing government oversight and audit.

KBR has received recognition from industry organizations for its engineering and safety performance. The company has been named to the Ethisphere World's Most Ethical Companies list multiple times. KBR's safety record has earned recognition from the National Safety Council and the Occupational Safety and Health Administration's Voluntary Protection Programs. The company's technology division has received awards from the American Institute of Chemical Engineers for innovation in process technology.

KBR's government contracts have attracted regulatory and legal scrutiny over the years. The company's LOGCAP III contract in Iraq, inherited from Halliburton, led to investigations by the Department of Defense Inspector General and the Department of Justice regarding billing practices, cost overruns, and procurement irregularities. KBR settled a False Claims Act case with the DOJ in 2011 for $62 million related to impermissible billing under the LOGCAP contract.

In 2014, KBR appealed a federal court ruling that the company had violated the Anti-Kickback Act in connection with subcontracting on LOGCAP contracts. The company has also faced litigation related to burn pit operations at military bases in Iraq and Afghanistan, with service members alleging health impacts from waste disposal practices. These cases have progressed through the court system, with some claims dismissed and others settled.

In June 2025, KBR announced the cancellation of the U.S. Transportation Command household goods contract, awarded to a KBR-led joint venture, which had been intended to improve relocation services for military families. The cancellation contributed to revenue uncertainty in the MTS segment.