By Chris Wack
KBR shares were down 13% to $50.94 after the company reported a third-quarter loss, while analysts were expecting a profit.
The information technology services company on Thursday posted a quarterly loss of $21 million, or 16 cents a share, compared to earnings of $74 million, or 49 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of nine cents a share.
Adjusted earnings were 75 cents a share, compared with the 74 cents a share analysts had forecast.
Revenue for the quarter was $1.77 billion, compared with last year’s $1.63 billion and the $1.79 billion analysts were expecting.
Backlog and options as of Sept. 29 totaled $21.8 billion.
KBR backed its previous revenue guidance of $6.9 billion to $7.1 billion for fiscal 2023. Analysts are looking for revenue of $7.04 billion.
The company is also looking for a loss of $1.88 to $1.68 a share in 2023, and adjusted earnings of $2.76 to $2.96. Analysts are expecting a loss of $1.42 a share for 2023, and adjusted earnings of $2.91 a share.
Write to Chris Wack at [email protected]
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