KBR, Inc. Files Q3 2024 10-Q Report
Ticker: KBR · Form: 10-Q · Filed: Oct 23, 2024
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
KBR filed its Q3 2024 10-Q. Check financials.
AI Summary
KBR, Inc. filed its 10-Q for the period ending September 27, 2024. The filing covers the third quarter of 2024, detailing financial performance and operational updates. Key financial data and business segment information are presented for the reporting period and comparative prior periods.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for KBR, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- KBR, INC. (company) — Filer of the 10-Q report
- 2024-09-27 (date) — End of the reporting period for the 10-Q
- 2024-10-23 (date) — Date the 10-Q was filed
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 23, 2024.
What is KBR, Inc.'s fiscal year end?
KBR, Inc.'s fiscal year ends on January 3rd.
What is KBR, Inc.'s business address?
KBR, Inc.'s business address is 601 Jefferson Street, Suite 3400, Houston, TX 77002.
What is the SEC file number for KBR, Inc.?
The SEC file number for KBR, Inc. is 001-33146.
Filing Stats: 4,886 words · 20 min read · ~16 pages · Grade level 17 · Accepted 2024-10-23 12:34:20
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value KBR New York Stock Exchange
Filing Documents
- kbr-20240927.htm (10-Q) — 1694KB
- kbr-ex311x0927202410xq.htm (EX-31.1) — 10KB
- kbr-ex312x0927202410xq.htm (EX-31.2) — 10KB
- kbr-ex321x0927202410xq.htm (EX-32.1) — 4KB
- kbr-ex322x0927202410xq.htm (EX-32.2) — 4KB
- kbr-20240927_g1.jpg (GRAPHIC) — 297KB
- 0001357615-24-000059.txt ( ) — 10080KB
- kbr-20240927.xsd (EX-101.SCH) — 64KB
- kbr-20240927_cal.xml (EX-101.CAL) — 98KB
- kbr-20240927_def.xml (EX-101.DEF) — 307KB
- kbr-20240927_lab.xml (EX-101.LAB) — 744KB
- kbr-20240927_pre.xml (EX-101.PRE) — 534KB
- kbr-20240927_htm.xml (XML) — 1564KB
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 10 Notes to Condensed Consolidated Financial Statements 11
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 30
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 45
Controls and Procedures
Item 4. Controls and Procedures 47
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 48
Risk Factors
Item 1A. Risk Factors 48
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48
Other Information
Item 5. Other Information 48
Exhibits
Item 6. Exhibits 49
SIGNATURES
SIGNATURES 50 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 Nine Months Ended September 27, September 29, September 27, September 29, 2024 2023 2024 2023 Revenues $ 1,947 $ 1,770 $ 5,620 $ 5,226 Cost of revenues ( 1,656 ) ( 1,526 ) ( 4,810 ) ( 4,486 ) Gross profit 291 244 810 740 Equity in earnings of unconsolidated affiliates 27 32 97 78 Selling, general and administrative expenses ( 140 ) ( 127 ) ( 390 ) ( 370 ) Legal settlement of legacy matter — — — ( 144 ) Other ( 5 ) ( 2 ) 3 ( 3 ) Operating income 173 147 520 301 Interest expense ( 37 ) ( 30 ) ( 100 ) ( 85 ) Charges associated with Convertible Notes — ( 114 ) — ( 428 ) Other non-operating income (expense) ( 2 ) 2 ( 10 ) ( 1 ) Income (loss) before income taxes 134 5 410 ( 213 ) Provision for income taxes ( 32 ) ( 23 ) ( 107 ) ( 69 ) Net income (loss) 102 ( 18 ) 303 ( 282 ) Less: Net income attributable to noncontrolling interests 2 3 4 4 Net income (loss) attributable to KBR $ 100 $ ( 21 ) $ 299 $ ( 286 ) Net income (loss) attributable to KBR per share Basic $ 0.75 $ ( 0.16 ) $ 2.22 $ ( 2.10 ) Diluted $ 0.75 $ ( 0.16 ) $ 2.22 $ ( 2.10 ) Basic weighted average common shares outstanding 133 135 134 136 Diluted weighted average common shares outstanding 133 135 134 136 Cash dividends declared per share $ 0.150 $ 0.135 $ 0.450 $ 0.405 See accompanying notes to condensed consolidated financial statements. 5 KBR, Inc. Condensed Consolidated Statements of Comprehensive Income (Loss) (In millions) (Unaudited) Three Months Ended Nine Months Ended September 27, September 29, September 27, September 29, 2024 2023 2024 2023 Net income (loss) $ 102 $ ( 18 ) $ 303 $ ( 282 ) Other comprehensive income (loss): Foreign currency translation adjustments 47 ( 34 ) 39 5 Pension and post-retirement benefits 2 3 5 1 Changes in fair value of derivatives ( 27 ) 5 ( 16 ) 18 Other