KBR, Inc. Files 10-Q for Period Ending March 29, 2024

Ticker: KBR · Form: 10-Q · Filed: Apr 30, 2024

Sentiment: neutral

Topics: KBR, 10-Q, Quarterly Report, Financials, Government Solutions

TL;DR

<b>KBR, Inc. filed its Q1 2024 10-Q report, detailing financial performance and segment operations.</b>

AI Summary

KBR, INC. (KBR) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. KBR, Inc. reported financial results for the period ending March 29, 2024. The filing covers the first quarter of fiscal year 2024. Key financial statement data and segment information were disclosed. The company's fiscal year ends on January 3rd. The filing was submitted on April 30, 2024.

Why It Matters

For investors and stakeholders tracking KBR, INC., this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot of KBR, Inc., crucial for assessing recent performance and trends. Understanding the segment performance, particularly in Sustainable Technology Solutions and Government Solutions, is key to evaluating KBR's strategic focus and growth drivers.

Risk Assessment

Risk Level: medium — KBR, INC. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not inherently signal significant positive or negative developments beyond the disclosed figures.

Analyst Insight

Review the detailed segment revenues and profitability to understand the drivers of KBR's financial performance in Q1 2024.

Revenue Breakdown

SegmentRevenueGrowth
Sustainable Technology Solutions
Government Solutions
All Other Segments

Key Numbers

Key Players & Entities

FAQ

When did KBR, INC. file this 10-Q?

KBR, INC. filed this Quarterly Report (10-Q) with the SEC on April 30, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by KBR, INC. (KBR).

Where can I read the original 10-Q filing from KBR, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by KBR, INC..

What are the key takeaways from KBR, INC.'s 10-Q?

KBR, INC. filed this 10-Q on April 30, 2024. Key takeaways: KBR, Inc. reported financial results for the period ending March 29, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial statement data and segment information were disclosed..

Is KBR, INC. a risky investment based on this filing?

Based on this 10-Q, KBR, INC. presents a moderate-risk profile. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not inherently signal significant positive or negative developments beyond the disclosed figures.

What should investors do after reading KBR, INC.'s 10-Q?

Review the detailed segment revenues and profitability to understand the drivers of KBR's financial performance in Q1 2024. The overall sentiment from this filing is neutral.

Key Dates

Filing Stats: 4,669 words · 19 min read · ~16 pages · Grade level 16 · Accepted 2024-04-30 10:30:42

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

F inancial Statements (Unaudited)

Item 1. F inancial Statements (Unaudited) 5 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income (Loss) 6 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Shareholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 38

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 42

SIGNATURES

SIGNATURES 43 2 Forward-Looking and Cautionary Statements This Quarterly Report on Form 10-Q contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. The Private Securities Litigation Reform Act of 1995 provides safe harbor provisions for forward-looking information. Some of the statements contained in this Quarterly Report on Form 10-Q are forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect" and similar expressions are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future financial performance and results of operations. We have based these statements on our assumptions and analyses in light of our experience and perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate in the circumstances. Forward-looking statements by their nature involve substantial risks and uncertainties that could significantly affect expected results, and actual future results could differ materially from those described in such statements. While it is not possible to identify all factors, factors that could cause actual future results to differ materially include the risks and uncertainties disclosed in our latest Form 10-K and any subsequent Forms 10-Q and 8-K. Many of these factors are beyond our ability to control or predict. Any of these factors, or a combination of these factors, could materially and adversely affect our future financial condition or results of operations and the ultimate accuracy of the forward-looking statements. These forward-looking statements are not guarantees of our

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Information

Item 1. Financial Information KBR, Inc. Condensed Consolidated Statements of Operations (In millions, except for per share data) (Unaudited) Three Months Ended March 29, March 31, 2024 2023 Revenues $ 1,818 $ 1,703 Cost of revenues ( 1,570 ) ( 1,458 ) Gross profit 248 245 Equity in earnings of unconsolidated affiliates 30 23 Selling, general and administrative expenses ( 121 ) ( 124 ) Gain on disposition of assets and investments 6 — Other 3 — Operating income 166 144 Interest expense ( 31 ) ( 26 ) Other non-operating expense ( 6 ) ( 2 ) Income before income taxes 129 116 Provision for income taxes ( 35 ) ( 30 ) Net income 94 86 Less: Net income attributable to noncontrolling interests 1 — Net income attributable to KBR $ 93 $ 86 Net income attributable to KBR per share Basic $ 0.69 $ 0.62 Diluted $ 0.69 $ 0.56 Basic weighted average common shares outstanding 135 137 Diluted weighted average common shares outstanding 135 154 Cash dividends declared per share $ 0.150 $ 0.135 See accompanying notes to condensed consolidated financial statements. 5 KBR, Inc. Condensed Consolidated Statements of Comprehensive Income (Loss) (In millions) (Unaudited) Three Months Ended March 29, March 31, 2024 2023 Net income $ 94 $ 86 Other comprehensive income (loss): Foreign currency translation adjustments ( 8 ) 15 Pension and post-retirement benefits 2 — Changes in fair value of derivatives 11 ( 10 ) Other comprehensive income 5 5 Income tax expense: Changes in fair value of derivatives ( 2 ) 2 Income tax (expense) benefit ( 2 ) 2 Other comprehensive income, net of tax 3 7 Comprehensive income 97 93 Less: Comprehensive income attributable to noncontrolling interests 1 — Comprehensive income attributable to KBR $ 96 $ 93 See accompanying notes to condensed consolidated financial statements. 6 KBR, Inc. Condensed Consolidated Balance Sheets (In millions, except share data) March 29, December 29, 2024 202

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