KBR Earnings: Here’s Why Shares are Up Now
KBR, Inc. (NYSE:KBR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.37%.
KBR, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.28% to $0.59 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Decreased 7.1% to $1.86 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: KBR, Inc. reported adjusted EPS income of $0.59 per share. By that measure, the company beat the mean analyst estimate of $0.47. It missed the average revenue estimate of $1.92 billion.
Quoting Management: “KBR’s first quarter performance was consistent with our expectations. We delivered $0.59 of EPS on strong project execution across all of KBR’s businesses, including on the five problem projects we discussed in the fourth quarter where no incremental provisions were taken in the first quarter,” said Bill Utt, Chairman, President, and Chief Executive Officer of KBR. “We continue to see strong prospects for growth across our businesses and remain confident in our ability to successfully win and execute new work going forward.”
Key Stats (on next page)…