January 12, 2011 / 10:02 PM / 7 years ago

UPDATE 1-KBR raises profit expectations for 2011

* Expects 2011 EPS of $2.05-$2.30, vs $2.04 Wall St view

* Details expected on Thursday conference call

* Shares rise 2.7 pct after hours

SAN FRANCISCO, Jan 12 (Reuters) - Engineering company KBR Inc (KBR.N) raised its profit outlook for 2011 on expectations it will benefit from expanded budgets for some of its energy-producing clients, and its stock rose nearly 3 percent.

The company said on Wednesday it estimated 2011 earnings at $2.05 to $2.30 per share, which compares with the average estimate of $2.04 per share on Thomson Reuters I/B/E/S.

Shares of KBR, which competes for energy-sector work with larger rivals Jacobs Engineering Group (JEC.N) and Fluor Corp (FLR.N), rose 2.7 percent to $31.21 in after-hours trading on Wednesday, extending their 1.6 percent gain in regular trade.

KBR shares are up 60 percent since the start of 2010, against gains of 55 percent for Fluor and 29 percent for Jacobs in that period.

Houston-based KBR will host a conference call on Thursday morning to discuss the full-year outlook and its recent acquisition of the minority interest in a UK subsidiary. (Reporting by Braden Reddall; Editing by Steve Orlofsky)

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