KBR Corporation KBR has been contracted by the Defense Health Agency to provide health and wellness support to military members and their families under the Medical Q Coded Support and Services Next Generation (MQS2-NG) contract.
KBR said it was one of 11 companies selected for the multiple-award, indefinite-delivery/indefinite-quantity contract, which will also have the opportunity to bid on task orders with a cap value of $43 billion.
The MQS2-NG contract will see KBR’s Government Solutions (GS) experts provide dental, physician and nurse medical support services to Department of Defense Military Treatment Facilities (MTFs) in strategic locations across the continental U.S. and overseas. The scope of work spans 10 years (2024-2034) and includes management and staffing of the MTFs.
Notably, MQS2-NG complements KBR’s 50 years of critical health services support to key military personnel and their families, including hundreds of astronauts through the NASA Human Health and Performance contract and U.S. Special Operations Forces as part of the Military Service and Family Protection contract.
Backlog growing due to continued contract wins
KBR’s focus on a resilient business model and efficiency initiatives is accelerating project winning momentum, along with the growing global importance of national security, energy security, energy transition and climate change.
In the first quarter of 2024, KBR received $1.9 billion in orders and options in highly strategic areas, with a trailing 12-month order backlog ratio of 1.1x.
As of March 29, 2024, the total backlog (including $3.596 billion of award options) was $20.8 billion, down from $21.73 billion at the end of 2023. Of the total backlog, GS accounted for $12.89 billion. The Sustainable Technology Solutions segment accounted for $4.36 billion of the total backlog.
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Shares of this Zacks Rank #3 (Hold) company have risen 10.9% over the past three months, compared to 15.5% growth for the Zacks Engineering – R&D Services industry. KBR’s 2024 earnings estimates reflect year-over-year growth of 10.3% and revenue growth of 9.2%.
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