KBR Inc. ( NYSE: KBR ) +10.8% in early trading Thursday, touching an all-time high $57, after Q4 adjusted earnings beat estimates even as revenues fell 35% Y/Y, as the company said it is "increasingly confident" to meet its 2025 earnings target of $4.75/share.
KBR ( KBR ) said its Q4 backlog and options totaled $19.8B, as it delivered 1.2x trailing 12-months book-to-bill as of year-end 2022, including $1.5B of awards and options in Q4.
"We saw organic revenue growth in line with our targets, but the real story was quality of earnings, outstanding operational performance leading to enhanced margins and cash conversion above expectations," President and CEO Stuart Bradie said.
For FY 2023, KBR ( KBR ) guided for adjusted EPS of $2.76-$2.96, in line with $2.87 analyst consensus estimate, on revenues of $6.9B-$7.1B, in line with $7B consensus.
The company's board also approved a 12.5% increase to the regular cash dividend .
KBR ( KBR ) shares have gained nearly 10% so far this year and 28% during the past year .
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KBR pops to record high after Q4 earnings beat, upbeat guidance