KBR's Backlog Jumps 10% In FY23, Dividend Raised By 11%
Portfolio Pulse from Nabaparna Bhattacharya
KBR, Inc. (NYSE:KBR) reported Q4 adjusted earnings per share of 69 cents, matching expectations, but missed quarterly sales estimates with $1.73 billion versus the expected $1.787 billion. Year-over-year, revenue rose 8%, and adjusted EBITDA increased by 20%. The company's backlog increased by 10% to $21.7 billion. KBR raised its quarterly dividend by 11% to $0.15 per share and replenished its share repurchase authorization to $500 million. For FY24, KBR forecasts revenue between $7.4 billion and $7.7 billion, slightly below the $7.73 billion estimate, with adjusted EPS of $3.10-$3.30, against an estimate of $3.26. KBR shares rose 4.33% to $57.69.
February 20, 2024 | 4:56 pm
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KBR reported Q4 earnings in line with expectations, an 8% revenue increase, and a 20% rise in adjusted EBITDA. The company raised its dividend by 11% and authorized a $500 million share buyback. FY24 revenue and EPS forecasts are slightly below estimates.
KBR's Q4 performance, including a significant backlog increase and dividend raise, signals strong company health and shareholder value focus. The share price increase reflects positive market reception. However, the slightly cautious FY24 outlook may temper expectations but is unlikely to significantly dampen investor sentiment in the short term.
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