KBR, Inc. reported a significant increase in its financial performance for the fiscal year ending January 3, 2025, with total revenues rising to $7.742 billion, an 11% increase from $6.956 billion in the previous fiscal year. The company's net income attributable to KBR was $375 million, compared to a net loss of $265 million in fiscal 2023. This turnaround was primarily driven by growth in high-end defense engineering and classified intelligence programs within its Government Solutions segment, as well as increased revenues from its Sustainable Technology Solutions segment, which saw a 17% rise to $1.871 billion.
The company experienced notable changes in its operational structure, including the acquisition of LinQuest Corporation, which contributed $181 million in revenue during the fiscal year. This acquisition aligns with KBR's strategic focus on enhancing its capabilities in advanced technology solutions for defense and intelligence sectors. Additionally, KBR's operating income increased by 48% to $662 million, reflecting improved efficiency and profitability across its segments.
KBR's Government Solutions segment reported revenues of $5.871 billion, a 10% increase from the previous year, while the Sustainable Technology Solutions segment also saw growth, with revenues reaching $1.871 billion. The company’s backlog of unfulfilled orders stood at approximately $17.3 billion, indicating a strong pipeline of future work, with 40% expected to be recognized as revenue in the upcoming fiscal year. The company employed around 38,000 people at the end of fiscal 2024, with an additional 10,000 employees in its unconsolidated joint ventures.
The filing highlighted several risks that could impact future performance, including dependence on U.S. government contracts, geopolitical conditions, and fluctuations in commodity prices. KBR's management expressed optimism about future growth, particularly in defense modernization and sustainable technology sectors, as global demand for energy transition solutions continues to rise. The company anticipates that its strategic investments and acquisitions will further enhance its market position and operational capabilities in the coming years.
About KBR, INC.
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