KBR Reports 8% Revenue Bump for Q2, Higher Government Segment Backlog

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 in earnings 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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