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KBR Shares Rise 8% After Earnings Beats Estimates -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — KBR Inc (NYSE:) shares rose over 8% after it announced its fourth-quarter and full-year financial results on Tuesday before the opening bell.

Technology and engineering firm reported adjusted earnings per shares of $0.69 in the fourth quarter. This beat earnings per share from the previous year by 18 cents. The quarter saw an increase in revenue to $2.5 billion. For a revenue of 2.56 billion, analysts predicted $0.65 earnings per share.

Revenue for 2021 was $7.3 billion. This increase can be attributed to organic growth across the company’s government business, including Operation Allies Welcome. The 2021 earnings per share were therefore $2.42.

KBR declared a $0.12 increase in its quarterly dividend, which represents an improvement of 9% over 2021.

Stuart Bradie (President and CEO at KBR) stated that KBR enjoyed a great 2021, delivering substantial progress towards its 2025 growth plan. “Throughout the year, our Team of Teams posted outstanding performance across all key metrics – organic revenue growth, earnings expansion, cash generation, new program wins, and Zero Harm.”

KBR predicts that revenue will be $6.3 billion to $6.8 billion by 2022. The adjusted earnings per share are expected to range between $2.04- $2.19 for this year. 

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