* Q1 adj EPS 54 cents vs 53 cents expected by Wall St
* Revenue down 12 percent at $2.3 bln
SAN FRANCISCO, April 27 Engineering company KBR
Inc (KBR.N) reported on Wednesday a first-quarter profit that
was more than double the previous year, driven by increased
spending on oil and gas projects.
First-quarter net profit rose to $105 million, or 69 cents
per share, from $46 million, or 29 cents per share, a year ago.
The earnings included a 15 cents per share boost from a lower
effective tax rate benefit, KBR said.
Excluding that, KBR earned 54 cents per share, whereas
analysts had been expecting a first-quarter profit of 53 cents
per share, according to Thomson Reuters I/B/E/S.
Revenue declined by 12 percent to $2.3 billion, which was
largely due to the anticipated reduction in revenue from KBR's
contract with the U.S. military.
(Reporting by Braden Reddall; editing by Gunna Dickson)