KBR, Inc. (KBR) Q4 2024 Earnings Call Transcript

For the period ending December 31, 2024

February 24, 2025 4:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon. Thank you for attending today's KBR's Fourth Quarter and Full Year 2024 Earnings Conference Call. My name is Tamia, and I will be your moderator for today's call [Operator Instructions]. I would now like to pass the conference over to your host, Jamie DuBray, Vice President of Investor Relations.

Jamie DuBray

Thank you. Good afternoon. And welcome to KBR's fourth quarter and fiscal 2024 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 full year and then open the call for your questions. Today's earnings presentation is available on the Investors section of our Web site 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 available on our Web site. 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 earnings presentation. I will now turn the call over to Stuart.

Stuart Bradie

Thanks, Jamie. And good afternoon, everyone. I will pick up on Slide 4. As you know, we start every earnings call with a Zero Harm moment and in fact, this month, we are celebrating our tenth anniversary of our Zero Harm program at KBR. Today, I would like to highlight circularity and give an update on Mura's progress. Mura Technology is the global pioneer of a next generation advanced plastics recycling technology called Hydro-PRT and KBR is proud to be Mura's exclusive global licensing partner and preferred engineering partner, and of course, we're an investor in the Hydro-PRT process itself. Now there are three commercia scale facilities all being built almost in parallel: Mura's in the Wilton, in Wilton, UK; LG Chems in Korea; and Mitsubishi's plant in Japan. Now the Mura and LG Chemicals plants have had several successful operational runs and both plants aim for commercial operations by March with key customers like Dow and Nestlé looking to incorporate recycled feedstocks to enhance their sustainability in the plastics manufacturing. The facility in Japan is scheduled to come on stream a few months later. Now we're excited about what this means for the circular economy and to KBR of course. To give you a feel for the positive impact, over the course of the year, the UK facility will recycle the annual plastic packaging waste of approximately 700,000 residents and replacing an equivalent of roughly 100,000 barrels of fossil oil, quite impressive.