July 25 Engineering company KBR Inc
posted higher-than-expected earnings on Thursday on improved
margins and a lower tax rate, while nudging up the lower end of
its forecast for full-year profit.
Chief Executive Bill Utt highlighted a 1.5 percentage-point
improvement in job income margins over the past year, along with
an 8 percent increase in job income.
Second-quarter profit was $90 million, or 61 cents per
share, compared with $104 million, or 70 cents per share, in an
especially strong quarter a year ago. Revenue fell 3 percent to
just shy of $2 billion.
Analysts had expected 57 cents per share on revenue of $1.93
billion, according to Thomson Reuters I/B/E/S.
The effective tax rate in the quarter was only 12 percent,
whereas the company is expecting a tax rate of at least twice
that in the second half of the year.
KBR also said it had revised its 2013 profit estimate range
to between $2.55 and $2.90 per share, adding 10 cents to the
Shares of KBR rose 5 cents in after-hours trading on
Thursday to $33, having already gained an eighth in value since
the start of May.