KBR (KBR) cuts FY12 EPS guidance from $2.60 - $2.80 per share to $1.95 - $2.10, well below...

|By:, SA News Editor

KBR (KBR) cuts FY12 EPS guidance from $2.60 - $2.80 per share to $1.95 - $2.10, well below Street consensus of $2.66, and sees FY13 EPS coming in at around $2.45 - $2.90 per share, versus Street EPS estimates of $2.96. The company blames the miss on significant project charges it expects to take in it's Minerals and U.S. Construction businesses, as well as higher than expected labor cost absorption expenses. Shares -9.3% AH.