KBR, Inc. (NYSE:KBR) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET

Company Participants

Alison Vasquez - VP, IR

Stuart J. B. Bradie - President & CEO

Mark Sopp - EVP & CFO

Conference Call Participants

Unidentified Analyst - Goldman Sachs

Sean Eastman - KeyBanc Capital Markets

Brent Thielman - D.A. Davidson

Andrew Kaplowitz - Citigroup

Jamie Cook - Crédit Suisse

Tobey Sommer - Truist Securities

Gautam Khanna - Cowen and Company

Bert Subin - Stifel, Nicolaus & Company

Michael Dudas - Vertical Research Partners

Avinatan Jaroslawicz - UBS

Operator

Hello everyone and a warm welcome to KBR, Inc.’s Q2 2022 Earnings Conference Call. My name is Melissa and I will be your moderator. [Operator Instructions]. I now have the pleasure of handing over to our host, Alison Vasquez, Vice President of Investor Relations to begin. Alison, over to you.

Alison Vasquez

Thank you Melissa. Good day from the UK and welcome to KBR's second quarter 2022 earnings call. Joining me are Stuart Bradie, President and Chief Executive Officer; and Mark Sopp, Executive Vice President and Chief Financial Officer. Stuart and Mark will provide highlights from the quarter and then open the call for your questions. Today's earnings presentation is available on our investors section of our website at kbr.com.

This discussion includes forward-looking statements reflecting KBR's views about future events and their potential impact on performance, as outlined on Slide 2. These matters involve risks and uncertainties that could cause actual results to differ significantly from these forward-looking statements, as discussed in our most recent Form 10-K, also available on our website. This discussion also includes non-GAAP financial measures that the company believes to be useful metrics for investors. A reconciliation of these non-GAAP measures to the nearest GAAP measure is included at the end of our presentation. I will now turn the call over to Stuart.

Stuart J. B. Bradie

Thanks Alison and thank you all for joining us today. I'll start on Slide 5. As you know we always kick off with a zero harm ESG focus and today I want to spend a moment on our expanding partnership with Mura, placing KBR at the center of enabling a global circular plastics economy, so really exciting. In June we committed to invest an additional $100 million in Mura Technology which allows us to participate more fully in this sustainably focused, high growth advanced recycling sector with a global pioneer of advanced plastics recycling, where it’s mission is to enable a plastic neutral future by providing an end-to-end solution to convert a wide range of mixed plastic waste, much of which would be destined for landfill today back into high quality chemical feedstocks. Targeting 1 million tons of annual capacity in operation or development by 2025, Mura licenses its technology through KBR to a global client base and is also developing its own pipeline of global operations.