Description

KBR Inc.: How Significant Is The Upside In Government Solutions? 

KBR, Inc. achieved solid results in the Q4 and FY 2023, meeting or exceeding expectations on all key metrics. Revenue grew by 11%, and adjusted EBITDA by 12% year-on-year, with margins increasing to 10.7%. Cash management was a highlight, with the company settling both the convert and warrants in cash, reducing share count while avoiding dilution, and management described it as ‘delivering on its commitment to maximise shareholder return.’ The company ended the year with a good order backlog, providing visibility of future earnings potential. Hiring increased by double digits, aligned with its growth, and KBR’s attrition rate reduced over the year.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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