Insider Brief
- KBR reported strong financial performance in Q4 2024, saying the company experienced double-digit revenue growth in both the fourth quarter and the full year.
- Officials said revenue was up 23% to $2.1 billion and net income was set at $76 million.
- The company sees its business portfolio as well aligned with the priorities of the new U.S. administration.
KBR officials reported that the company closed 2024 with strong financial performance, highlighting double-digit revenue growth in both the fourth quarter and the full year.
For the fourth quarter, the company posted $2.1 billion in revenue, a 23% increase from the same period last year, with organic growth accounting for 15%. Net income reached $76 million, while adjusted EBITDA — a key profitability metric — rose 21% to $228 million, with a 10.7% margin.
Earnings per share stood at $0.57, with adjusted EPS climbing 32% to $0.91, according to highlights from the quarterly report.
New business remained steady, with $2.0 billion in bookings and options, leading to a 1.0x book-to-bill ratio, an indicator of revenue sustainability.
For the full year, KBR reported $7.7 billion in revenue, up 11% from 2023, and net income totaled $375 million. The company reported its cash flow remained strong, with $462 million in operating cash flow, achieving a 103% operating cash conversion rate.
Looking into the future, the company said it secured $8.8 billion in new bookings and options, reflecting a 1.1x book-to-bill ratio. KBR also returned $297 million to shareholders through buybacks and dividends.
Exceeded Full Year Guidance
“KBR delivered sustained performance throughout the year culminating in a strong fourth quarter, with significant revenue and earnings growth as well as margin expansion,” said Stuart Bradie, President and CEO. “During 2024, we maintained our industry-leading safety record, met or exceeded our full year guidance, and advanced our strategy. In addition, we executed a realignment of our segments to better serve our customers and end markets, reduce costs, and open a larger pipeline of opportunities. We also expanded our capabilities with the acquisition of LinQuest, a leading provider of advanced engineering, data analytics and digital capabilities for national security and military space missions.”
Bradie added: “We believe our business portfolio is well aligned with the priorities of the new administration in the U.S., especially in the areas of national security and energy policy. Our unique and diverse global portfolio, which serves both commercial and government clients in mission critical and key operational functions, offers resilience given issues present in the world today. As measured from our fiscal year 2024 results, more than 60% of Adj. EBITDA contribution is from non-U.S. government customers. This positioning enables us to approach our fiscal year 2025 outlook with a high degree of confidence, with more than 75% of our projected Revenues already under contract across our global, diversified contract base.”
KBR Secures $176 Million Contract
KBR has secured a seven-year, $176 million contract to maintain and modernize a key U.S. military space surveillance site in Hawaii.
The contract, awarded by the Air Force Research Laboratory (AFRL), covers operations, maintenance, and upgrades at the Air Force Maui Optical and Supercomputing Site (AMOS), a high-altitude facility that helps track objects in space. The Pentagon announced the award Thursday, noting that AFRL received two bids.
Matt Swayne
With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Space Impulse since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses.
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