KBR reports in-line Q3 earnings, raises full-year guidance

HOUSTON - KBR, Inc. (NYSE: NYSE:KBR ) reported third quarter earnings that met analyst expectations, while raising its full-year outlook on strong bookings momentum.

The engineering and construction company posted adjusted earnings per share of $0.84 in Q3, in line with Wall Street estimates. Revenue came in at $1.95 billion, slightly below the consensus forecast of $1.96 billion but up 10% year-over-year.

"KBR's exceptional team has once again exceeded expectations with outstanding third-quarter results," said Stuart Bradie, KBR's President and CEO. He noted the company saw year-over-year growth across all financial metrics.

Bookings and options totaled $3.3 billion in Q3, resulting in a book-to-bill ratio of 1.2x for the quarter. The company's total backlog stood at $22.1 billion at quarter-end.

KBR raised its full-year 2024 guidance, now expecting revenue of $7.5-$7.7 billion, up from $7.4-$7.7 billion previously. It also boosted its adjusted EPS outlook to $3.20-$3.30, compared to $3.15-$3.30 prior.

The improved outlook reflects KBR's strong operational performance and the recent acquisition of LinQuest, which enhances its capabilities in space and defense missions.

"With strong performance across KBR and the integration of LinQuest progressing well, I am pleased to announce an increase in Revenue, Adjusted EBITDA, and Adjusted EPS guidance for 2024," Bradie stated.

KBR shares were unchanged in pre-market trading following the earnings release.

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Source: Investing.com