BofA Cautious on KBR (KBR) Amid Macro Headwinds, Impending Business Split

In Q3, KBR saw respective declaration wins, of which the astir notable was a $2.5 cardinal declaration with NASA. The institution besides earned $1.02 per share, which bushed estimates by $0.07. Despite these affirmative factors, KBR’s gross for the 4th was level compared to the year-ago play owed to challenges successful converting bookings into recognized revenue. Quarterly gross totaled $1.93 billion, which modestly declined by ~0.8% year-over-year and missed estimates by $42.07 million.

The company’s Sustainable Technology Solutions conception experienced headwinds from delays successful LNG task improvement and immoderate petrochemical task cancellations. At the aforesaid time, the Readiness and Sustainment conception saw a 22% gross diminution owed to strategical shifts and outgo reductions by the DoD.

KBR Inc. (NYSE:KBR) provides scientific, technology, and engineering solutions to governments and commercialized customers worldwide. It operates done Government Solutions and Sustainable Technology Solutions segments.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.