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Kbr (KBR) Q4 FY2023 earnings: revenue $1.7 billion, up 7.6% on the year

Kbr, Inc. (KBR) reported revenue of $1.7 billion for Q4 FY2023, the quarter ended 29 December 2023, up 7.6% on the same quarter a year earlier. Net income was $21 million, down 77.4% on the year, and diluted earnings per share $0.15. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.

Revenue$1.7 billionup 7.6%
Net income$21 milliondown 77.4%
Diluted EPS$0.15
QuarterQ4 FY2023ended 29 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue1,7301,770n/an/a
Cost of revenue1,4931,526n/an/a
Gross profit237244n/an/a
Gross margin13.7%13.8%n/a
Selling, general and administrative118127n/an/a
Operating income147147n/an/a
Operating margin8.5%8.3%n/a
Interest expense30.030.0n/an/a
Pre-tax income47.05.0n/an/a
Income tax26.023.0n/an/a
Effective tax rate55.3%460.0%n/a
Net income21.0-21.0n/an/a
Net margin1.2%-1.2%n/a
Diluted EPS$0.15-$0.16n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow83.0-40.0n/an/a
Capital expenditure20.022.0n/an/a
Free cash flow63.0-62.0n/an/a
Free cash flow margin3.6%-3.5%n/a
Cash from investing-27.0-22.0n/an/a
Cash from financing-109-124n/an/a
Depreciation and amortisation37.034.0n/an/a
Buybacks1.00.0n/an/a
Dividends paid19.018.0n/an/a
Dividend per sharen/a$0.14n/an/a
Diluted shares, weighted137m135mn/an/a
Shares outstanding at period end135m135mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity1,3831,554n/an/a
Non-controlling interest11.011.0n/an/a
Debt1,8321,755n/an/a
Operating lease liabilities176178n/an/a
Finance lease liabilities10.0n/an/an/a
Other liabilities2,1532,475n/an/a
Total liabilities and equity5,5655,973n/an/a
Goodwill2,1092,090n/an/a
Intangible assets618618n/an/a
Cash and equivalents304348n/an/a
Other assets2,5342,917n/an/a
Total assets5,5655,973n/an/a

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025 †Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,7701,7301,8181,8471,9372,1222,0181,9521,9311,8481,9231,984
Cost of revenue1,5261,4931,5701,5771,6471,8291,7181,6621,6611,5561,6581,691
Gross profit244237248270290293300290270292265293
Gross margin14%14%14%15%15%14%15%15%14%16%14%15%
SG&A127118121129140154140146149138133143
Operating income147147166180173142202194191198180172
Operating margin8%8%9%10%9%7%10%10%10%11%9%9%
Interest expense30.030.031.032.037.044.041.041.039.037.037.035.0
Pre-tax income5.047.0129146134101164145152160143135
Tax rate460%55%27%27%24%23%26%27%22%26%28%28%
Net income-21.021.093.010610076.011673.011511110296.0
Net margin-1%1%5%6%5%4%6%4%6%6%5%5%
Diluted EPS-$0.16$0.15$0.69$0.79$0.75$0.57$0.88$0.56$0.90$0.87$0.80$0.75
Operating cash flow-40.083.091.017016140.098.0n/an/an/an/an/a
Capital expenditure22.020.025.010.019.023.02.07.08.0n/a12.016.0
Free cash flow-62.063.066.016014217.096.0n/an/an/an/an/a
Buybacks0.01.061.097.09.051.015648.010025.04.025.0
Dividends paid18.019.018.021.020.020.020.021.022.021.021.021.0
Shares outstanding135m135m135m133m133m132m130m129m127m126m127m126m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 29 December 2023, filed 20 February 2024, accession 0001357615-24-000016: the filing on EDGAR. All of Kbr, Inc.'s filings: EDGAR company page.

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