KBR, Inc. (KBR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos serviços técnicos de engenharia e engenharia global, a KBR, Inc. é uma potência transformadora, navegando estrategicamente paisagens complexas dos setores de governo, defesa e energia. Ao elaborar meticulosamente uma tela abrangente de modelo de negócios que aproveita recursos tecnológicos de ponta, parcerias estratégicas e experiência especializada, a KBR se posicionou como um provedor de soluções indispensáveis ​​para projetos de missão crítica em todo o mundo. Esse intrincado modelo de negócios revela como a empresa transforma a solução inovadora de problemas, infraestrutura robusta e profundo conhecimento técnico em uma vantagem competitiva que gera um valor substancial para diversos segmentos de clientes nos mercados internacionais.

KBR, Inc. (KBR) - Modelo de negócios: Parcerias -chave

Agências governamentais dos EUA

A KBR possui vários contratos ativos com as principais agências governamentais:

Agência	Valor do contrato	Duração do contrato
Departamento de Defesa	US $ 3,2 bilhões	2023-2028
NASA	US $ 785 milhões	2022-2026

Empreiteiros Internacionais de Defesa e Aeroespacial

Parcerias estratégicas incluem:

• Lockheed Martin
• Northrop Grumman
• BAE Systems
• Defesa e espaço da Airbus

Empresas de tecnologia e engenharia

Parceiro	Foco de colaboração	Valor anual de colaboração
Honeywell	Soluções avançadas de engenharia	US $ 450 milhões
Siemens	Projetos de transformação digital	US $ 350 milhões

Empresas globais de energia

Principais parcerias de energia:

• Concha
• ExxonMobil
• Chevron
• Energias totais

Subcontratados especializados em serviços técnicos

Subcontratado	Categoria de serviço	Valor do contrato
Aecom	Engenharia de Infraestrutura	US $ 275 milhões
CH2M	Serviços Ambientais	US $ 220 milhões

KBR, Inc. (KBR) - Modelo de negócios: Atividades -chave

Consultoria de governo e defesa

Em 2023, o segmento de serviços governamentais da KBR gerou US $ 3,73 bilhões em receita. A empresa apóia missões críticas para o Departamento de Defesa dos EUA, comunidade de inteligência e agências civis federais.

Tipo de contrato do governo	Valor anual
Serviços de apoio à defesa	US $ 1,85 bilhão
Contratos da comunidade de inteligência	US $ 672 milhões
Apoio federal da agência civil	US $ 1,21 bilhão

Serviços de engenharia e construção

O segmento de engenharia e construção da KBR registrou US $ 2,61 bilhões em receita para 2023.

• Engenharia de projetos de petróleo e gás offshore
• Refinaria e construção de plantas químicas
• Projetos de desenvolvimento de infraestrutura

Categoria de projeto	Contribuição anual da receita
Infraestrutura energética	US $ 1,47 bilhão
Construção Industrial	US $ 892 milhões
Projetos internacionais de engenharia	US $ 251 milhões

Desenvolvimento de Soluções de Tecnologia

A KBR investiu US $ 124 milhões em pesquisa e desenvolvimento de tecnologia em 2023.

• Soluções de segurança cibernética
• Serviços de transformação digital
• Plataformas avançadas de análise

Gerenciamento global de logística e cadeia de suprimentos

Os serviços de logística e cadeia de suprimentos geraram US $ 1,42 bilhão em receita para a KBR em 2023.

Tipo de serviço de logística	Receita anual
Apoio à logística militar	US $ 876 milhões
Gerenciamento da cadeia de suprimentos comercial	US $ 544 milhões

Treinamento técnico e serviços profissionais

O segmento de serviços profissionais da KBR alcançou US $ 623 milhões em receita durante 2023.

• Programas de treinamento militar
• Desenvolvimento técnico da força de trabalho
• Serviços de certificação profissional

Categoria de serviço de treinamento	Receita anual
Soluções de treinamento de defesa	US $ 412 milhões
Serviços profissionais comerciais	US $ 211 milhões

KBR, Inc. (KBR) - Modelo de negócios: Recursos -chave

Engenharia altamente qualificada e força de trabalho técnica

A partir de 2024, a KBR emprega 34.600 funcionários no total em todo o mundo. A quebra da força de trabalho inclui:

Categoria de funcionários	Número de funcionários
Profissionais de engenharia	15,200
Especialistas técnicos	9,800
Especialistas em gerenciamento de projetos	5,600
Equipe de apoio	4,000

Capacidades tecnológicas avançadas

A infraestrutura tecnológica da KBR inclui:

• 12 centros de P&D dedicados
• US $ 178 milhões para investimento tecnológico anual
• Mais de 240 patentes de tecnologia ativa

Experiência em contratos governamentais

Detalhes do portfólio de contratos do governo:

Tipo de contrato	Valor anual do contrato
Contratos do governo dos EUA	US $ 3,2 bilhões
Contratos do governo internacional	US $ 1,7 bilhão

Infraestrutura de gerenciamento de projetos global

Presença operacional global da KBR:

• Operações em 40 países
• 30 centros operacionais primários
• 6 sede continental

Conhecimento técnico proprietário e propriedade intelectual

Portfólio de propriedade intelectual:

Categoria IP	Contagem total
Patentes ativas	242
Marcas registradas	87
Soluções de software proprietárias	56

KBR, Inc. (KBR) - Modelo de Negócios: Proposições de Valor

Soluções técnicas e de engenharia de ponta a ponta

A KBR gerou US $ 7,7 bilhões em receita total para o ano fiscal de 2022. A empresa fornece soluções técnicas e de engenharia abrangentes em vários setores.

Categoria de serviço	Contribuição da receita
Soluções governamentais	US $ 3,4 bilhões
Soluções de tecnologia	US $ 2,2 bilhões
Soluções de energia	US $ 2,1 bilhões

Recursos complexos de gerenciamento de projetos

A KBR gerencia mais de 300 projetos ativos globalmente com um valor médio do projeto de US $ 50 milhões a US $ 500 milhões.

• Gerenciou 78 projetos de infraestrutura internacional em larga escala em 2022
• Duração média do projeto: 3-5 anos
• Taxa de sucesso do projeto: 94%

Mitigação de risco para clientes governamentais e comerciais

A KBR detém US $ 4,6 bilhões em atraso de contrato a partir do terceiro trimestre de 2022, demonstrando fortes estratégias de gerenciamento de riscos.

Tipo de cliente	Contratos de mitigação de risco	Valor do contrato
Governo dos EUA	38 contratos	US $ 2,9 bilhões
Governo internacional	22 contratos	US $ 1,2 bilhão
Clientes comerciais	15 contratos	US $ 500 milhões

Solução de problemas tecnológicos inovadores

A KBR investiu US $ 87 milhões em pesquisa e desenvolvimento em 2022, com foco em soluções tecnológicas avançadas.

• 10 novas patentes tecnológicas arquivadas
• 5 inovações inovadoras de engenharia desenvolvidas
• Investimentos de transformação digital: US $ 42 milhões

Experiência especializada em setores de defesa e energia

A KBR garantiu US $ 6,2 bilhões em contratos do setor de defesa e energia em 2022.

Setor	Valor do contrato	Número de contratos
Defesa	US $ 3,7 bilhões	45 contratos
Energia	US $ 2,5 bilhões	32 contratos

KBR, Inc. (KBR) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias de contratos governamentais de longo prazo

A KBR mantém US $ 3,5 bilhões em contratos governamentais ativos a partir do quarto trimestre de 2023, com 78% da receita derivada de parcerias relacionadas ao governo.

Tipo de contrato	Valor anual	Duração
Departamento de Defesa dos EUA	US $ 1,2 bilhão	5-7 anos
Suporte logístico do Exército dos EUA	US $ 850 milhões	4-6 anos
Serviços do Governo Internacional	US $ 750 milhões	3-5 anos

Equipes de gerenciamento de contas dedicadas

A KBR emprega 372 profissionais de gerenciamento de contas dedicados especializados em setores complexos de serviços técnicos e governamentais.

• Taxa média de retenção de clientes: 92%
• Experiência média de gerenciamento de contas: 14,6 anos
• Equipes especializadas em segmentos de defesa, energia e infraestrutura

Entrega de serviço baseada em desempenho

A KBR vincula 65% de seus contratos a métricas específicas de desempenho e acordos de nível de serviço.

Métrica de desempenho	Alvo	Realização real
Eficiência de conclusão do projeto	95%	93.7%
Gerenciamento de custos	Dentro de 3% do orçamento	2,8% de variação
Conformidade de segurança	Zero incidentes	99,6% de conformidade

Suporte técnico contínuo e consulta

A KBR opera centros de suporte técnico 24/7 com 687 engenheiros e técnicos especializados.

• Tempo médio de resposta: 37 minutos
• Cobertura de suporte global em 15 países
• Suporte técnico disponível em 6 idiomas

Desenvolvimento de solução personalizada

Em 2023, a KBR investiu US $ 124 milhões em pesquisa e desenvolvimento para soluções personalizadas de clientes.

Categoria de solução	Investimento em P&D	Novas soluções desenvolvidas
Tecnologias de defesa	US $ 52 milhões	17 soluções
Eficiência energética	US $ 38 milhões	12 soluções
Inovação de infraestrutura	US $ 34 milhões	9 soluções

KBR, Inc. (KBR) - Modelo de Negócios: Canais

Equipes de vendas diretas

As equipes de vendas diretas da KBR operam em várias regiões globais, com foco em setores governamentais e comerciais. A partir de 2023, a KBR registrou 13.500 funcionários no total de atividades de desenvolvimento de negócios e vendas.

Região de vendas	Número de representantes de vendas	Foco primário
América do Norte	425	Contratos governamentais
Médio Oriente	287	Energia e infraestrutura
Europa	196	Defesa e tecnologia

Plataformas de compras governamentais

A KBR participa ativamente de várias plataformas de compras governamentais, com US $ 3,7 bilhões em receitas de contratos governamentais em 2023.

• Plataforma de gerenciamento de contratos do Departamento de Defesa dos EUA
• Oportunidades de negócios federais (FedBizopps) Portal
• Sistema de aquisição da Agência de Logística de Defesa (DLA)

Conferências e feiras do setor

A KBR participa de aproximadamente 42 conferências da indústria internacional anualmente, com um investimento estimado em marketing de US $ 1,2 milhão.

Tipo de conferência	Participação anual	Setor -alvo
Tecnologia de Defesa	12	Contratos governamentais
Engenharia de energia	15	Petróleo e gás
Desenvolvimento de infraestrutura	15	Projetos globais de infraestrutura

Envios de proposta técnica online

A KBR utiliza plataformas digitais especializadas para envios de propostas técnicas, processando aproximadamente 287 propostas complexas anualmente.

Redes estratégicas de desenvolvimento de negócios

A KBR mantém parcerias estratégicas com 124 organizações globais em vários setores.

• Empreiteiros de defesa: 38 parcerias
• Empresas de energia: 46 parcerias
• Empresas de tecnologia: 40 parcerias

KBR, Inc. (KBR) - Modelo de negócios: segmentos de clientes

Agências do governo federal dos EUA

Os segmentos de clientes do governo dos EUA da KBR incluem:

Agência	Valor do contrato	Tipo de contrato
Departamento de Defesa dos EUA	US $ 3,2 bilhões (2023)	Suporte de logística e infraestrutura
Comando de Sustentação do Exército dos EUA	US $ 1,7 bilhão (2023)	Serviços de suporte de contingência
NASA	US $ 450 milhões (2023)	Serviços de suporte técnico

Organizações de Defesa Internacional

A KBR atende clientes de defesa internacional em várias regiões:

• Contratos de defesa dos países da OTAN: US $ 2,1 bilhões (2023)
• Suporte de defesa do Oriente Médio: US $ 1,5 bilhão (2023)
• Ministério da Defesa do Reino Unido: US $ 890 milhões (2023)

Empresas do setor de energia

Setor	Receita	Tipo de serviço
Óleo a montante & Gás	US $ 2,6 bilhões (2023)	Engenharia e Construção
Energia renovável	US $ 450 milhões (2023)	Gerenciamento de projetos
Petroquímico	US $ 1,2 bilhão (2023)	Projeto de instalação

Empresas aeroespaciais e tecnológicas

Principais segmentos de clientes aeroespaciais e de tecnologia:

• Aeroespacial comercial: US $ 780 milhões (2023)
• Tecnologia de Defesa: US $ 1,3 bilhão (2023)
• Sistemas de satélite: US $ 350 milhões (2023)

Projetos globais de desenvolvimento de infraestruturas

Região	Valor do projeto	Tipo de infraestrutura
Médio Oriente	US $ 2,4 bilhões (2023)	Transporte e utilitários
Ásia-Pacífico	US $ 1,8 bilhão (2023)	Instalações industriais
América latina	US $ 650 milhões (2023)	Infraestrutura energética

KBR, Inc. (KBR) - Modelo de negócios: estrutura de custos

Pessoal e despesas de mão -de -obra

Para o ano fiscal de 2023, a KBR, Inc. registrou despesas totais de pessoal de US $ 2,768 bilhões. A empresa empregou aproximadamente 6.200 funcionários em período integral em todo o mundo.

Categoria de despesa	Valor (US $ milhões)
Salários e salários	1,985
Benefícios e compensação	783

Investimentos de pesquisa e desenvolvimento

A KBR alocou US $ 157 milhões para iniciativas de pesquisa e desenvolvimento em 2023, representando 2,3% da receita total.

• Investimentos de inovação em tecnologia
• R&D do setor de governo e de defesa
• Desenvolvimento de Tecnologia de Infraestrutura

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica da KBR totalizaram US $ 98,4 milhões em 2023.

Componente de infraestrutura	Custo de manutenção anual (US $ milhões)
Sistemas de TI	45.2
Infraestrutura em nuvem	29.6
Segurança cibernética	23.6

Conformidade e adesão regulatória

A KBR gastou US $ 76,5 milhões em requisitos de conformidade e regulamentação em 2023.

• Conformidade do contrato governamental
• Regulamentos de Segurança e Ambiental
• Padrões de negócios internacionais

Custos de marketing e desenvolvimento de negócios

As despesas de marketing e desenvolvimento de negócios atingiram US $ 112,3 milhões em 2023.

Atividade de marketing	Despesa (US $ milhões)
Marketing corporativo	43.7
Desenvolvimento de negócios	68.6

KBR, Inc. (KBR) - Modelo de negócios: fluxos de receita

Receita do contrato governamental

No ano fiscal de 2023, a KBR gerou US $ 7,84 bilhões em receitas totais, com serviços governamentais representando uma parcela significativa de seu fluxo de renda.

Segmento do governo	2023 Receita
Serviços do governo dos EUA	US $ 3,92 bilhões
Serviços do Governo Internacional	US $ 1,56 bilhão

Taxas de consultoria técnica

Os serviços de consultoria técnica da KBR geraram aproximadamente US $ 612 milhões em receita para 2023.

• Consultoria de Defesa e Inteligência: US $ 287 milhões
• Consultoria do setor energético: US $ 215 milhões
• Consultoria de infraestrutura: US $ 110 milhões

Contratos de Serviço de Engenharia

Os serviços de engenharia contribuíram com US $ 1,73 bilhão para a receita total da KBR em 2023.

Segmento de engenharia	2023 Receita
Engenharia de energia	US $ 1,24 bilhão
Engenharia de Infraestrutura	US $ 490 milhões

Licenciamento de solução tecnológica

As receitas de licenciamento de tecnologia para a KBR em 2023 foram de US $ 156 milhões.

• Licenciamento de tecnologia de energia: US $ 98 milhões
• Licenciamento de tecnologia de defesa: US $ 58 milhões

Serviços internacionais de implementação de projetos

Os serviços internacionais de projetos geraram US $ 1,43 bilhão em receita para 2023.

Região Internacional	2023 Receita
Médio Oriente	US $ 672 milhões
Ásia-Pacífico	US $ 458 milhões
Europa	US $ 300 milhões

KBR, Inc. (KBR) - Canvas Business Model: Value Propositions

You're looking at the core promises KBR, Inc. makes to its customers, grounded in their late 2025 operational reality. These aren't just mission statements; they are backed by contract values and segment performance.

Mission-critical support for national security and space exploration.

The Mission Technology Solutions (MTS) segment, which houses much of this work, generated revenues of $1.412 billion in the second quarter of fiscal 2025, showing a 7% growth year-over-year. For the first quarter of 2025, MTS revenues climbed to $1.5 billion, a 14% increase compared to the prior year. KBR secured an estimated $2.459 billion contract in August 2025 to support astronaut health and human performance for NASA. Furthermore, KBR announced three task order contracts from the Air Force Research Laboratory (AFRL) collectively totaling $175 million in September 2025, focusing on areas like Space Situational Awareness. Another recent win in December 2025 was a $117 million, five-year contract to support the U.S. Navy's F/A-18 Foreign Military Sales programs for allies like Australia, Finland, and Switzerland.

The overall company backlog and options as of the end of the third quarter of fiscal 2025 stood at $23.35 billion. KBR employs approximately 37,000 people worldwide.

Sustainable Technology Solutions (STS) for energy transition (e.g., green ammonia).

The STS segment is delivering strong margin performance. In the second quarter of 2025, STS revenues were $540 million, with Adjusted EBITDA growing 17% to $129 million, resulting in an impressive Adjusted EBITDA margin of 23.9%. This follows a first quarter where STS revenues were $550 million, up 12%, and the Adjusted EBITDA margin reached 22.5%. KBR reported securing 7 ammonia projects through the year across grey, blue, and green ammonia technologies. For the period from July 2024 to July 2025, the STS segment generated revenue of $3.7 billion. The company has a stated fiscal year 2027 target margin of 20%+ for the STS segment.

Here's a quick look at the segment performance:

Metric	Q1 2025 Value	Q2 2025 Value
STS Revenue (Millions USD)	$550	$540
STS Adjusted EBITDA Margin	22.5%	23.9%
STS Revenue YoY Growth	12%	2%

Operational reliability with a low Total Recordable Incident Rate (TRIR).

Safety performance metrics as of May 6, 2025, show a year-to-date TRIR of 0.093. The company also reported 89% Zero Harm days year-to-date as of that date.

Full life cycle support, from design and engineering to operations and maintenance.

KBR's recent contract wins demonstrate this breadth. The $117 million F/A-18 contract involves integrated program management, engineering, financial, and logistics support over a five-year period. Similarly, the work for the Air Force Research Laboratory contracts includes continued development, implementation of advanced technologies, and extending resilience research and protection strategies. In the STS space, KBR is involved in Front-End Engineering Design (FEED) work for major energy projects.

Reduced commercial risk and low capital intensity business model.

The company's strategic direction points toward this value proposition. KBR has forecast fiscal year 2025 revenue of $8.1 billion. The total company backlog and options as of the third quarter of 2025 reached $23.35 billion. The trailing twelve-month book-to-bill ratio as of Q3 2025 was 1.4x. The planned tax-free spinoff of the MTS business is intended to create a scaled-down KBR (RemainCo) that will concentrate solely on sustainability technology and services, which typically carry lower capital requirements than large-scale construction.

The company returned $122 million in capital to shareholders in the third quarter of 2025 through share repurchases of $100 million and dividends of $22 million.

KBR, Inc. (KBR) - Canvas Business Model: Customer Relationships

Long-term, trusted partner status with key government clients like NAVAIR

KBR, Inc. secured an estimated $117M cost-plus-fixed-fee follow-on contract in December 2025 to support Naval Air System Command's (NAVAIR) F/A-18 and EA-18G Program Office (PMA-265),. KBR has supported this program for multiple decades,, with expertise spanning more than 40 years across all F/A-18 variants.

The overall backlog and options as of the end of the third quarter of fiscal 2025 totaled $23.4 billion.

Dedicated program management and on-site support for complex contracts

Complex government support contracts mandate comprehensive service delivery. For instance, KBR was awarded a $476 million base operations support contract in Djibouti. Furthermore, KBR secured a LOGCAP V contract extension through the year 2030 for EUCOM and NORTHCOM,. The recent NAVAIR award requires KBR to provide integrated program management, engineering, financial and logistics support,.

High-touch, consultative selling for technology licensing and FEED work

In the commercial sector, KBR secured a FEED (Front-End Engineering Design) contract for the Heavy Oil Program by Kuwait Oil Company. The Sustainable Technology Solutions (STS) segment, which includes this type of work, reported revenues of $550 million in the first quarter of 2025, representing a 12 percent increase year-over-year. To be fair, 60% of KBR's Adjusted EBITDA came from non-U.S. government customers in Q3 2025.

Contractual lock-in via multi-year, cost-plus-fixed-fee arrangements

The relationship structure often involves long-term commitments. The December 2025 NAVAIR contract is specifically a cost-plus-fixed-fee follow-on contract,, with a performance period spanning five years,,. The LOGCAP V extension is locked in through 2030.

Focus on customer satisfaction scores for key programs

KBR tracks performance through direct feedback mechanisms. For key programs like the HomeSafe program, management noted that customer satisfaction has improved to nearly 90% as of the first quarter of 2025.

You can see the mix of contract types and their associated values below:

Contract/Program Example	Value/Term Detail	Contract Type Indicator
NAVAIR F/A-18 Support (Follow-on)	Estimated $117M over five years	Cost-plus-fixed-fee,
LOGCAP V Extension	Extension through the year 2030	Multi-year commitment
Djibouti Base Operations Support	$476 million base contract	Implies dedicated, long-term support
HomeSafe Program	Expected revenue of $300 million to $500 million in fiscal 2025	Key program for satisfaction metric

The company's overall backlog and options at the end of Q3 2025 stood at $23.4 billion.

KBR, Inc. (KBR) - Canvas Business Model: Channels

You're looking at how KBR, Inc. gets its science, technology, and engineering solutions to its diverse set of customers. The channels are deeply segmented, reflecting the dual focus on government and commercial markets.

Direct contracting and bidding with U.S. and allied international governments form a bedrock channel, often secured through large, multi-year vehicles. For instance, KBR, Inc. recently secured an estimated $117 million cost-plus-fixed-fee follow-on contract to provide Foreign Military Sales support for the U.S. Naval Air System Command's F/A-18 and EA-18G Program Office, supporting allies like Australia, Finland, and Switzerland over a five-year period. Also, KBR, Inc. was awarded three task order contracts by the Air Force Research Laboratory (AFRL) under the INCITE COPERS contract, collectively totaling $175 million for work spanning multi-domain situational awareness and space mission assurance. These government wins are crucial; for example, KBR, Inc. reported that over 75% of its projected Fiscal Year 2025 revenues were already under contract as of early 2025.

For commercial clients, KBR, Inc. relies on dedicated global sales and business development teams, which feed into the Sustainable Technology Solutions (STS) segment. This channel is seeing strong momentum, particularly in the energy transition space. KBR, Inc. secured 7 ammonia projects across the globe through fiscal 2024, signaling a strong channel for its low-carbon solutions. Honestly, the commercial channel is where the margin expansion is really popping off.

Technology licensing agreements and direct engagement with industrial clients are key components of the STS channel, driving high-margin revenue. The STS segment, which includes proprietary technologies, saw its Adjusted EBITDA grow 17% to $129 million in the second quarter of 2025, even with more modest revenue growth of 2% to $540 million for that quarter. This suggests that the licensing and high-value engineering services are a very effective channel for profit capture.

The physical delivery footprint is massive, supporting all these contracting and sales channels. KBR, Inc. has operations in over 30 countries, providing a truly global delivery footprint across North America, Europe, the Middle East, Africa, Asia, and Australia. This global presence, supported by a workforce of approximately 37,000 to 38,000 people worldwide, allows KBR, Inc. to execute complex, mission-critical roles wherever the contract is awarded.

Here's a quick look at how the two main segments, which represent the core of the commercial and government channels, performed in Q2 2025:

Segment Channel Focus	Q2 2025 Revenue	Q2 2025 Adjusted EBITDA Margin
Mission Technology Solutions (MTS) - Government Focus	$1.412 billion	10.0%
Sustainable Technology Solutions (STS) - Commercial/Tech Licensing Focus	$540 million	23.9%

The channels for securing new work are heavily weighted toward government vehicles and direct client relationships, as shown by recent contract activity:

• Secured $175 million in task orders from the Air Force Research Laboratory.
• Awarded a $117 million follow-on contract for F/A-18 Foreign Military Sales support.
• Secured expansion contracts for the SSN-AUKUS submarine program in Australia and the UK.
• Signed a reimbursable LNG contract for Energy Transfer LP's Lake Charles project.

If onboarding for international logistics support takes longer than expected, like the delays seen with EUCOM and logistics operations, it can impact the top-line guidance, which KBR, Inc. revised for FY 2025 to $7.9-$8.1 billion from a previous range of $8.7-$9.1 billion.

Finance: review the impact of the $117 million F/A-18 contract on Q4 2025 revenue recognition by next Tuesday.

KBR, Inc. (KBR) - Canvas Business Model: Customer Segments

You're looking at the core customer base for KBR, Inc. as of late 2025, which is clearly split between government mission support and high-margin sustainable technology delivery. The data shows a heavy reliance on the U.S. Government, but the growth story is increasingly tied to the commercial/international side.

U.S. Government (DoD, NASA, NRO) for defense, intelligence, and space (Mission Technology Solutions)

This group forms the bedrock of the Mission Technology Solutions (MTS) segment, formerly the Government Solutions segment. In Q2 2025, MTS generated revenues of $1.412 billion, representing approximately 72% of KBR's total Q2 2025 revenue of $1.952 billion. The Defense & Intelligence business unit within MTS saw growth of 21% in Q2 2025, fueled by the LinQuest acquisition.

Key contract activity with the U.S. Government includes:

• Awarded a $2.5 billion base contract with an additional $1 billion in options to support NASA astronaut health and human performance (Q3 2025 award).
• Secured an estimated $229 million recompete task order for U.S. Army Cargo Helicopter Systems (CH-47 Chinook) life cycle research and analysis over five years.
• Won an $85 million firm-fixed-price task award from the U.S. Air Force for AM-2 Matting kits under AFCAP.
• Awarded a $476 million base operations support contract in Djibouti.
• Secured a LOGCAP V contract extension through 2030 for EUCOM and NORTHCOM.

For context on the segment's profitability, the MTS Adjusted EBITDA margin for Q2 2025 was 10.0%.

Allied International Governments (UK, Australia, Finland, Switzerland) for defense readiness

International government work is a significant component, with international business within MTS growing 10% in Q2 2025. In 2023, the UK government alone accounted for 9% of KBR's total revenue. The company's focus here is on sustaining platforms for allied nations.

A concrete example of this segment's activity is the recent award:

Allied Nation(s) Supported	Contract Value	Program Focus	Duration
Australia, Finland, Switzerland	$117 million	F/A-18 and EA-18G Foreign Military Sales (FMS) Support for NAVAIR	Five years

The company's Q3 2025 results noted that 60% of Adjusted EBITDA came from non-U.S. government customers, highlighting the financial importance of this international base.

Global Energy and Chemicals Companies for LNG, ammonia, and fertilizer projects

These customers drive the Sustainable Technology Solutions (STS) segment. STS delivered revenues of $540 million in Q2 2025 and $525 million in Q3 2025. This segment is KBR's high-margin engine, with a Q2 2025 Adjusted EBITDA margin of 23.9% and a Q3 2025 Operating Income margin of 22.5%.

KBR is actively engaged in major energy transition projects, evidenced by:

• Strong project execution on an LNG project contributing to Q2 2025 operating income.
• Securing front-end engineering design (FEED) work for Indonesia's Abadi LNG project.

Looking forward, KBR has a 2027 Revenue CAGR target for STS set between 11% to 15%, with a projected segment margin of 20%+.

Commercial clients seeking decarbonization and energy efficiency solutions

This customer group is largely served within the STS segment, aligning with the demand for sustainable technologies. The STS segment's Q2 2025 revenue growth of 2% was explicitly driven by increasing demand for these sustainable technologies and services. While specific contract values solely attributed to decarbonization for commercial clients aren't itemized separately from the broader STS revenue, the segment's overall financial performance reflects this customer focus.

The overall company backlog and options as of the end of Q3 2025 stood at $23.35 billion, providing a runway for future work across all customer types.

KBR, Inc. (KBR) - Canvas Business Model: Cost Structure

You're looking at the core spending areas for KBR, Inc. as of late 2025, which is heavily weighted toward its human capital and technology base. Honestly, for a company with this kind of global footprint, managing these fixed and variable costs is key to hitting those profitability targets.

The single largest component of KBR, Inc.'s cost base is personnel. As of January 3, 2025, KBR, Inc. reported 38,000 employees, though a more recent October 2025 estimate puts the figure closer to 31K employees across six continents. This massive workforce drives the delivery of their science, technology, and engineering solutions. To put that scale in perspective, the revenue generated per employee as of early 2025 was approximately $211,605.

Technology and innovation require continuous funding. While a specific R&D dollar amount isn't always broken out in the same way as SG&A, KBR, Inc. is actively investing, evidenced by the opening of its new Digital Engineering Lab in Dayton, Ohio, in May 2025. This investment supports the growth in their Mission Technology Solutions segment, which saw revenue of $1.412 billion in Q2 2025.

Contract-related operational costs are substantial, covering logistics, materials, and subcontracts necessary for large-scale government and industrial projects. These costs fluctuate with contract mix and execution success. For instance, the company's total backlog and options stood at $21.6 billion at the end of Q2 2025, representing future commitments that will drive these operational expenditures.

General and administrative (G&A) expenses are under constant scrutiny for efficiency gains. In the second quarter of fiscal 2025, KBR, Inc.'s Selling, General, and Administrative Expenses increased by 13% year-over-year, reaching $146 million. Management is clearly focused on keeping this ratio in check, especially given the recent downward revision to the full-year revenue guidance for 2025.

Finally, the cost of capital must be covered. The interest expense on KBR, Inc.'s net debt was explicitly stated as $2.234 billion in Q2 2025, which aligns with the reported Net Debt figure of $2,234 million at that time.

Here's a snapshot of some key cost and balance sheet metrics influencing the structure:

Cost/Financial Metric	Amount/Value	Period/Context
Interest Expense (As Required)	$2.234 billion	Q2 2025
Net Debt	$2,234 million	Q2 2025
Selling, General, and Administrative Expenses	$146 million	Q2 2025
SG&A Increase	13%	Q2 2025 vs prior year
Total Employees (Reported High)	38,000	January 3, 2025
Total Employees (Recent Estimate)	31K	October 2025
Total Backlog and Options	$21.6 billion	Q2 2025 End

You can see the cost structure is dominated by personnel and the servicing of debt, which is typical for a large, service-based government contractor. The management of G&A against the massive backlog is where the margin expansion comes from.

• Personnel costs drive the majority of operating expenses.
• Technology investment supports the Mission Technology Solutions segment growth.
• G&A spending is actively managed, with Q2 2025 at $146 million.
• Debt servicing is a fixed cost, with interest expense tied to $2.234 billion net debt.
• Operational costs scale with the $21.6 billion backlog.

Finance: draft 13-week cash view by Friday.

KBR, Inc. (KBR) - Canvas Business Model: Revenue Streams

KBR, Inc.'s revenue streams are primarily segmented across its Mission Technology Solutions (MTS) and Sustainable Technology Solutions (STS) businesses, reflecting a dual focus on government services and technology-driven project execution.

The Mission Technology Solutions (MTS) segment represents the largest portion of the current revenue base, heavily reliant on government contracts. For the third quarter of fiscal year 2025, MTS generated revenues of $1,406 million. This segment's revenue is derived from defense, intelligence, and space programs.

Sustainable Technology Solutions (STS) revenue is driven by technology licensing and project execution, including significant contributions from equity earnings in large energy projects. In Q3 2025, STS revenues were $525 million. The margin strength in this segment, with an Adjusted EBITDA margin of 23.5% in Q3 2025, points to the value captured from technology deployment and project milestones.

The nature of KBR, Inc.'s contracts involves a mix of government and commercial clients, with a notable international component. As of Q3 2025, 60% of Adjusted EBITDA was sourced from non-U.S. government customers, indicating a substantial revenue stream from international commercial and government entities.

The company's overall financial outlook for the full year 2025 is anchored by the following guidance, revised in Q3 2025:

Metric	Guidance Range (Full-Year 2025)
Revenue Guidance	$7.75-$7.85 billion
Adjusted EBITDA Guidance	$960-$980 million

To give you a clearer picture of the recent revenue composition, here is a breakdown of the Q3 2025 segment performance, which informs the full-year expectation:

• Mission Technology Solutions (MTS) Q3 2025 Revenue: $1.406 billion
• Sustainable Technology Solutions (STS) Q3 2025 Revenue: $525 million
• Total Q3 2025 Revenue: $1.9 billion

The revenue streams are further characterized by the structure of contract types, which include both reimbursable arrangements and fixed-price agreements with government and commercial clients.

The profitability derived from these streams in Q3 2025 was:

Segment	Q3 2025 Adjusted EBITDA	Q3 2025 Adjusted EBITDA Margin
Mission Technology Solutions (MTS)	$143 million	10.2%
Sustainable Technology Solutions (STS)	$123 million	23.5%
Total Company	$240 million	12.4%

The company's focus on securing future work is evident in its booking activity. KBR, Inc. recorded $4.2 billion in bookings and options in Q3 2025, resulting in a 1.4x book-to-bill ratio for that quarter.

Finance: review Q4 2025 revenue conversion rate against the guidance midpoint of $7.8 billion by next Tuesday.