KBR swings to profit

LNG engineer KBR posted a net income of $62 million in the second quarter of 2015, compared to a net loss of $8 million in the same period a year ago.

Consolidated revenue in the second quarter of was $1.4 billion compared to $1.7 billion in the second quarter of 2014, the Houston-based company said in a statement.

“During the quarter we delivered improved operational and financial performance and continued progress towards our cost reduction targets. KBR’s transformation continues and we are on track to achieve the 2016 targets for segment profit margin percentages and a $200 million annual cost reduction,” said Stuart Bradie, President and Chief Executive Officer of KBR.

Image: KBR