USA: KBR 2Q Net Income Up

KBR announced that second quarter 2012 net income attributable to KBR was $104 million compared to net income attributable to KBR of $100 million in the second quarter of 2011.

Consolidated revenue in the second quarter 2012 was $2.1 billion compared to $2.5 billion in the second quarter of 2011. Operating income in the second quarter 2012 was $129 million compared to $169 million in the prior year second quarter.

“I am pleased with KBR’s second quarter 2012 performance, as the company delivered earnings of $0.70 per share, led by particularly strong Hydrocarbons’ results,” said Bill Utt, Chairman, President, and Chief Executive Officer of KBR. “During the second quarter, KBR delivered strong project execution and recognized better than expected project incentives, cost recoveries, and construction progress that allowed us to reduce estimates to complete for several projects in construction. As we look towards the back half of 2012, we believe KBR is well positioned to continue to execute and deliver strong business performance as well as capture new market opportunities. As a result, we are confident in our revised 2012 earnings guidance range of $2.60 to $2.80 per diluted share.”

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LNG World News Staff, July 26, 2012