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KBR -9% after Q4 earnings miss, 21% revenue drop

Published 02/23/2018, 10:36 AM
© Reuters.  KBR -9% after Q4 earnings miss, 21% revenue drop
KBR
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  • KBR (KBR -9.4%) plunges after missing Q4 earnings expectations and reporting a 21% Y/Y revenue decline.
  • KBR says Q4 engineering and construction revenue fell 45% Y/Y to $293M, primarily due to completion or near completion of several projects across the segment; for the full year, E&C's revenue fell 31% to $1.6B, and overall company revenues slipped to $4.2B from $4.3B in 2016.
  • Operating cash flow for FY 2017 was $193M vs. $61M in 2016, helped by significantly improved overall profitability during the year; backlog rose by $300M to $10.6B.
  • KBR issues upside guidance for FY 2018, seeing EPS of $1.35-$1.45 vs. $1.36 analyst consensus estimate.
  • KBR also says it secured a ~$2B financing commitment to complete a recapitalization plan to finance its SGT acquisition, among other reasons.
  • Now read: More on American Railcar Industries' Q4


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