Houston-based LNG engineer KBR reported a 10 percent rise in revenue for the second quarter of 2017.
KBR’s revenue rose from $1 billion in the corresponding quarter of 2016 to $1.1 billion during the quarter under review, driven by the acquisitions in the Government Services segment and expansion of existing contracts with the U.S. Military.
Net income attributable to KBR was $77 million in the second quarter of 2017 compared to net income of $47 million in the second quarter of 2016.
Stuart Bradie , president and CEO of KBR said, “improving results in our E&C segment are the result of continued strong execution performance as well as progress made on our strategy to lessen reliance on large projects and focus on winning multiple smaller, more recurring and predictable services work.”
Gross profit improved to $108 million from $74 million in the corresponding period in 2016, KBR said in its report.
The company reported an operating cash flow of $325 million for the quarter and increased its operating cash flow guidance to a range of $120 million to $200 million for 2017, up from previous guidance of $100 million to $200 million.