KBR Announces Segment Realignment and Executive Appointments in Support of Advancing Strategy

Core Viewpoint - KBR is implementing segment reporting updates and executive appointments to enhance its strategic direction, aiming to streamline operations and optimize processes while maximizing shareholder value [1][2]. Segment Realignment - KBR has restructured its operating segments, renaming Government Solutions to Mission Technology Solutions, which focuses on mission-critical capabilities in space, defense, and national security [3]. - The legacy GS International business unit has been eliminated, with its components integrated into both Mission Technology Solutions and Sustainable Technology Solutions [3]. - The realignment will take effect in fiscal year 2025, with proforma financial information for the previous 11 quarters to be made available on KBR's Investor Relations website [4]. Executive Appointments - Byron Bright has been appointed as Chief Operating Officer, effective May 2025, to oversee both segments, with Jay Ibrahim reporting to him [5][7]. - General Lester L. Lyles will retire from the Board post KBR's 2025 Annual Meeting, with Stuart Bradie set to take over as Chair [7][8]. Financial Targets - KBR is reiterating its financial targets for 2027, which were introduced at the May 2024 Investor Day, based on a 2023 baseline [9]. - The company anticipates a revenue CAGR of 11% to 15% for both Mission Technology Solutions and Sustainable Technology Solutions, with respective adjusted EBITDA margins of 9% to 10% and approximately 20% [14]. Webcast Information - KBR will host a webcast on January 8, 2025, to discuss the segment realignment and executive leadership updates [10]. Company Overview - KBR provides science, technology, and engineering solutions globally, employing approximately 37,000 people and serving customers in over 80 countries [11].