Wed, Apr. 29, 1:11 PM
- KBR (KBR +7.5%) surges higher after its Q1 earnings beat expectations, as cost cuts helped to offset a 12% Y/Y decline in revenues.
- Q1 engineering and construction revenue fell to $1B from $1.16B while profit nearly doubled to $55M, while technology and consulting revenue fell 20% to $72M while profit grew by $4M to $19M; government services revenue fell 16% to $155M but profit fell by $4M, mostly due to a reduction in support services for U.K. military operations in Afghanistan.
- CEO Stuart Bradie says during the earnings conference call that KBR will increase its focus on the Middle East, and the company has bolstered its leadership in the region.
Wed, Apr. 29, 7:26 AM
Mon, Apr. 27, 5:35 PM
- ACGL, ACHC, AEGN, AFL, AHGP, AKAM, AMCC, ANIK, ARI, ARLP, AUY, AZPN, BGFV, BLDP, BMR, BOOM, BWLD, BXMT, CALX, CBL, CEB, CGI, CHE, CINF, CLF, CMRE, CNL, CRUS, DDR, DHT, EEFT, EIX, EPIQ, EPR, EQR, ESRT, ESRX, EXAC, FARO, FEIC, GNW, GPRE, GPRO, HAWK, HELE, HIW, HLIT, HURN, IACI, INAP, IPHI, KALU, KBR, KRFT, LOGM, MRCY, MSTR, MTSI, MWA, NANO, NATI, NCR, NVDQ, OHI, OI, OTEX, PEI, PNRA, RNG, RPXC, RRC, RSYS, SKT, SLCA, SWI, TAHO, TE, TPX, TSS, TWTR, ULTI, VRSK, WDC, WRI, WSH, WYNN, X, XCO, XOOM
Fri, Feb. 27, 3:08 PM
- KBR (KBR -10.1%) sinks 10% after posting a wider Q4 loss and revenues fell 15% Y/Y and fell well short of expectations.
- KBR booked $1.16B in charges during Q4 to the restructuring of its business, which was announced in December with the intent of focusing the company on its oil and international government services businesses; KBR expects the move to cut costs by at least $200M/year by 2016, but said the heavy charges were prompted by higher impairment charges and tax reserves than initially expected.
- Q4 engineering and construction revenue fell 6% Y/Y to $1.04B, while government services revenue fell 53% to $111M from $237M a year earlier; its third business unit after the reorganization - non-strategic business such as a stand-alone power project - fell 18% at $200M.
- Issues in-line guidance for FY 2015, seeing EPS of $1.07-$1.22 vs. $1.16 analyst consensus estimate.
Fri, Feb. 27, 7:17 AM
Wed, Feb. 25, 5:35 PM
- ABTL, ADSK, AEGR, AHT, AIRM, AL, APEI, ARUN, AVD, BCEI, BIO, BLOX, CERS, CLNE, CROX, CSU, CUBE, DGI, ECOL, ECPG, ENOC, ENV, EVC, EVHC, GPS, HLF, HPTX, IM, IMMR, JCP, KBR, KND, LYV, MAIN, MDRX, MENT, MITT, MNST, MTZ, MVNR, NMBL, NOG, NVAX, OLED, OUT, OVTI, PE, PEGA, PFMT, PKT, PODD, PSIX, RBA, RMTI, ROST, RP, RPTP, RRMS, SB, SBAC, SEMG, SGM, SPLK, SRC, SREV, SWN, SZYM, TPC, TUBE, TUMI, TWOU, UHS, UIL, UNXL, VGR, WIFI, WTR, WTW
Tue, Jan. 27, 11:59 AM
- The value of new projects obtained by engineering and construction companies could drop 25%-30% in 2015 due to the sharp drop in oil prices, Deutsche Bank says as it downgrades two names in the group, Fluor (FLR -3.1%) and KBR (KBR -3.4%), to Hold from Buy.
- Many energy-related projects that had been boosting the results of E&C companies are no longer economically viable, and oil price volatility will make it difficult for companies to approve new projects even if they can generate acceptable returns at current oil prices, DB analyst Vishai Shah writes.
- Fluor and KBR have the greatest risk of reporting weaker than expected 2015 results, and their valuations are higher than average for the sector, Shah says; however, expectations are low for Chicago Bridge & Iron (CBI -1.7%), whose results could benefit from an acceleration in gas-fired power plant projects this year, the analyst says in maintaining a Buy rating on CBI.
Dec. 11, 2014, 8:39 AM
- KBR +1.8% premarket after saying it plans to restructure its operations and divest or exit some non-core segments following a strategic review as it aims to reduce its operating costs.
- KBR says it will reorganize into three new businesses that will focus on core strengths in consulting and technology, engineering and construction, and government services.
- KBR also plans to divest or exit certain non-strategic businesses as it works to streamline global operations and drive efficiency.
- Expects to realize $200M/year in operating cost savings by 2016, but anticipates taking a pre-tax charge of $800M-$1B.
Nov. 4, 2014, 9:27 AM
Nov. 2, 2014, 5:35 PM
- ACXM, AEIS, AGU, AIG, AMTG, ANV, APL, BDE, BKH, CHGG, CKP, CRK, CUTR, CVD, CXW, CYH, DXPE, EGAN, ELNK, ENH, EOX, EPAM, EQC, FN, FTR, GALE, GRT, GTY, HLF, IART, ININ, KAMN, KBR, LCI, MCEP, MDU, MR, MRO, NBIX, NLS, NOR, NTRI, OGS, OTTR, PKT, PL, PLOW, PQ, QLYS, RBC, REG, RKT, RKUS, RLD, RTEC, SALE, SBRA, SGY, SKH, SNHY, SRC, SSW, SUP, TDW, THC, TXRH, VNO, VNR, WTR, Y
Sep. 11, 2014, 11:03 AM
Jul. 25, 2014, 5:37 PM
Jun. 19, 2014, 2:43 PM
- KBR (KBR -8.4%) plunges more than 10% before recovering a bit, after swinging to a surprise Q1 loss of $0.29/share from a $0.59/share profit in the prior-year quarter and badly trailing consensus estimates; revenue fell 10.7% Y/Y to $1.63B, also a big miss.
- KBR says results were hurt by losses by its pipe fabrication and module assembly facility in Canada as well as two construction projects in the U.S. and its infrastructure, government and power segments.
- Gas monetization revenue fell 33% to $400M on reduced volumes from a gas-to-liquid project in Nigeria and a liquefied natural gas project in Algeria.
- KBR also says it has started an in-depth strategic review of its businesses, and will suspend issuing guidance until after the conclusion of the review.
Jun. 19, 2014, 12:45 PM
Jun. 19, 2014, 9:11 AM
Jun. 19, 2014, 8:01 AM
KBR vs. ETF Alternatives
KBR Inc along with its subsidiaries, is an engineering, construction and services company supporting the energy, hydrocarbons, power, minerals, civil infrastructure, government services, industrial and commercial market segments.
Other News & PR