New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 19, 2014
10:48 EDTKBR, CBI, FLR, JECKBR declines after 'disappointing' unexpected quarterly losses
Shares of engineering, construction and services company KBR (KBR) are falling after the firm reported that it will undertake a strategic review of its business following "disappointing" first quarter losses. WHAT'S NEW: KBR reported a Q1 loss per share of (29c), while analysts had forecast earnings per share of 38c. The company's Q1 revenue of $1.6B missed the consensus estimate of $1.77B. KBR's recently appointed CEO, Stuart Bradie, called the overall results for the quarter "disappointing" and said that they were impacted by losses at its Service segment's pipe fabrication and module assembly facility in Canada and on two U.S. construction projects, as well as underperformance in its IGP business. Bradie said its Hydrocarbons, and especially the firm's Gas Monetization segments, continued their strong performance during the quarter. KBR is set to undergo an in-depth strategic review of its businesses to evaluate how the company can best address the markets it serves. Once completed, KBR will provide an update to the market and expects to resume its previous practice of providing earnings guidance. Looking forward, Bradie explained that the firm's market position "remains strong" with a good pipeline of early stage front end engineering design and engineering procurement and construction opportunities throughout the world. WHAT'S NOTABLE: On April 9, KBR appointed Bradie president and CEO of the company effective June 2. Bradie succeeded William Utt, who retired. On May 30, KBR announced that it has completed the previously announced restatement of its financial statements for the year ended December 31, 2013. KBR announced at that time that it was amending its unaudited financial statements as of September 30, 2013, and its unaudited quarterly data for the quarter ended December 31, 2013. OTHERS TO WATCH: Other companies in the engineering and construction sector include Chicago Bridge & Iron (CBI), Fluor (FLR), and Jacobs Engineering (JEC). PRICE ACTION: During morning trading, KBR fell $2.63, or 10%, to $23.69.
News For KBR;CBI;FLR;JEC From The Last 14 Days
Check below for free stories on KBR;CBI;FLR;JEC the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 2, 2014
08:08 EDTKBRKBR awarded EPC services contract for Koch Nitrogen urea expansion
Subscribe for More Information
August 26, 2014
08:08 EDTCBIChicago Bridge & Iron awarded contract by Shenhua Ningxia Coal Industry Group
Subscribe for More Information
August 21, 2014
08:10 EDTKBRKBR awarded EPC contract for new HDPE facility in La Porte, Texas
KBR announced it has been awarded a contract from Gemini HDPE, a manufacturing joint venture between INEOS Olefins & Polymers USA and Sasol, to provide engineering, procurement, and construction, or EPC, services for a new high-density polyethylene, or HDPE, facility to be located at INEOS's Battleground Manufacturing Complex in La Porte, Texas. The new facility is designed to produce 470 kilotons per annum of bimodal HDPE using Innovene S process technology licensed from INEOS Technologies. The new, single-train facility will include new polymerization, pelletization, and railcar load-out facilities, plus upgrades to existing utilities and infrastructure.
08:02 EDTCBIChicago Bridge & Iron awarded technology contract in Poland
Subscribe for More Information
August 20, 2014
05:10 EDTJECJacobs Engineering announces $500M share repurchase program
Jacobs Engineering Group announced that its board approved a program to repurchase up to $500M of the company's common stock over the next three years.
August 19, 2014
07:46 EDTJECJacobs designs and builds iron sulfate plant for Huntsman pigments in Italy
Subscribe for More Information
07:46 EDTJECJacobs receives contract from Hong Kong SAR government
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use