Author: Mary-Louise Hoffman|| Date Published: May 4, 2022
KBR (NYSE: KBR) reported government solutions unit revenue for the first quarter of its 2022 fiscal year grew 25 percent to $1.46 billion and the company attributed the increase to sales growth across defense, space and other businesses under the government segment.
The Houston-based engineering contractor said its total Q1 revenue of $1.71 billion reflects a 17 percent jump over the same period a year ago and earnings came in at $0.62 per share, up 29 percent from the prior year period.
Defense and intelligence sales rose 8 percent on an organic basis for the quarter while science and space revenue jumped 2 percent.
Revenue in the company’s readiness and sustainment business was up 62 percent, primarily due to work with European Command and support for the U.S. military’s Operation Allies Welcome.
KBR noted that profit and earnings before interest, taxes, depreciation and amortization – or EBITDA – from its government arm were in line with the management’s expectations for the period.
The company booked $1.2 billion in Q1 contract awards and options.
Aerospace and defense technology company Merlin has closed its business combination with Inflection Point Acquisition Corp. IV, a special purpose acquisition company…
Raytheon, an RTX business, has received a potential $212.1 million cost-plus-fixed-fee contract to provide operations and maintenance services for a relocatable over-the-horizon…
Jim Kelly, senior systems engineering manager at HPE Juniper Networking, said agentic artificial intelligence could help government agencies move toward…
AeroVironment has acquired Empirical Systems Aerospace, or ESAero, a producer of unmanned aircraft systems and advanced air mobility platforms, or AAM,…
