What's Going On With KBR Stock On Tuesday?

KBR, Inc. KBR shares rose in the premarket session on Tuesday after the company announced a significant contract win.

The firm was awarded a recompete task order worth an estimated $229 million under the Department of Defense Information Analysis Center’s (DoDIAC) multiple-award contract (MAC) vehicle.

This contract is to provide life cycle research and analysis for U.S. Army Cargo Helicopter Systems, specifically focusing on the CH-47 Chinook helicopter.

The task order was awarded by the U.S. Air Force’s 774 Enterprise Sourcing Squadron, and the work will be carried out over a five-year period in Huntsville, Alabama.

Also Read: Hallador Energy, Tesla And Other Big Stocks Moving Lower In Tuesday’s Pre-Market Session

KBR will be responsible for researching, analyzing, and developing recommendations aimed at increasing the availability, reliability, and cost-effectiveness of the Chinook helicopters. The company will also provide logistics management, testing program management, and supportability analyses.

The CH-47 Chinook is a critical asset in the U.S. Army’s fleet, used in a variety of missions, including troop and cargo transport, medical evacuation, and disaster relief, as well as combat operations. KBR’s role will be instrumental in enhancing the sustainability and operational capabilities of the Chinook fleet, which is essential for the Army’s operations.

Stuart Bradie, KBR’s President and CEO, expressed pride in securing the contract, noting the company’s expertise in supporting the U.S. military. With over 35 years of experience working on Army aviation programs, KBR has long been a trusted partner in maintaining and improving military systems for national security.

According to Benzinga Pro, KBR stock has lost over 14% in the past year. Investors can gain exposure to the stock via Tidal Trust III Intech S&P Small-Mid Cap Diversified Alpha ETF SMDX.

Yesterday, the company disclosed that it won a $176 million cost-plus-fixed-fee indefinite delivery, indefinite quantity (IDIQ) contract by the Air Force Research Laboratory (AFRL).

The contract will provide operations and equipment maintenance support to the Air Force Maui Optical and Supercomputing Site (AMOS) in Maui, Hawaii.

Price Action: KBR shares are trading higher by 1.74% to $51.94 premarket at last check Tuesday.

Read Next:

Image via Shutterstock.