Houston-based KBR, Inc. (NYSE:KBR), a global engineering, construction, and services company valued at $7.39 billion, has announced significant changes to its leadership.
According to InvestingPro analysis, the company appears undervalued at its current price of $55.19, with multiple analysts recently revising earnings expectations upward. General Lester L. Lyles will retire from KBR's Board of Directors after the 2025 annual meeting, concluding a tenure that began in 2007. Following his departure, the board will decrease from ten to nine members.
General Lyles, who has served as Chair of the Board since 2019, is stepping down with no disagreements with the company regarding its operations, policies, or practices. KBR's President and CEO, Stuart Bradie, expressed gratitude for General Lyles' leadership and contributions to the company's success.
In addition to the board changes, KBR has appointed Byron Bright as the new Chief Operating Officer, effective May 2025. Bright, currently serving as President of Government Solutions U.S., will oversee both the Government Solutions and Sustainable Technology Solutions businesses.
The appointment comes as KBR demonstrates solid performance with 7.55% revenue growth and maintains a FAIR financial health rating according to InvestingPro's comprehensive analysis, which includes over 30 additional key metrics and insights available to subscribers. He brings a decade of experience at KBR and prior experience from Jacobs Engineering Group (NYSE:J) and the U.S. Air Force.
The company also announced that Stuart Bradie will take on the role of Chair of the Board once General Lyles concludes his term. These leadership transitions are part of KBR's ongoing strategic evolution. Investors seeking deeper insights into KBR's strategic positioning and future prospects can access the detailed Pro Research Report, available exclusively on InvestingPro, which provides comprehensive analysis of the company's fundamentals and growth trajectory.
The information in this article is based on a recent SEC filing by KBR, Inc.
In other recent news, KBR, Inc. has experienced significant developments in its operations and financial performance. The company's recent earnings call revealed a 10% year-on-year increase in group revenue and an 18% rise in adjusted EBITDA, contributing to over $2.5 billion in revenue. This robust growth was further emphasized by KBR's raised 2024 revenue guidance to $7.5 billion-$7.7 billion and adjusted EBITDA to $840 million-$870 million.
Simultaneously, KBR has secured a front-end engineering design contract for the expansion of the Qalhat LNG complex in Oman, a strategic move aimed at meeting rising global energy demands. DA Davidson has maintained a Buy rating on KBR's shares, raising the price target to $84.00 from $78.00, reflecting the company's strong financial prospects and strategic positioning.
KBR also announced the retirement of board member Mark E. Baldwin, leading to a reduction in the board's size from eleven to ten members. The company clarified that this retirement is not related to any disagreement with KBR's operations, policies, or practices.
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