Author: Naomi Cooper|| Date Published: July 28, 2023
KBR (NYSE: KBR) posted $1.75 billion in second quarter revenue to register a year-over-year increase of 8 percent and a higher backlog under its government business for the three months ended June 30.
The company said Thursday quarterly backlog in the KBR Government Solutions unit amounted to $16 billion, compared with the $11.5 billion recorded at the end of 2022.
Notable Q2 awards include a potential $1.9 billion NASA follow-on contract for flight crew operations support to the International Space Station and a $69 million contract to support three locations in the U.S. Central Command area of operations.
Mark Sopp, chief financial officer of KBR, told analysts in a conference call that both the company’s government and sustainable technology solutions businesses contributed to the 16 percent growth inearnings before interest, taxes, depreciation and amortization during the quarter.
The Houston-based technology and engineering firm lifted its fiscal 2023 adjusted EBITDA to a range of between $730 million and $750 million, from the prior outlook of $715 million to $745 million.
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