By Sam Boughedda
Investing.com -- KBR Inc (NYSE:KBR) shares rose over 8% after it announced its fourth-quarter and full-year financial results on Tuesday before the opening bell.
The technology and engineering company reported adjusted earnings per share of $0.69 for the fourth quarter, beating earnings per share for the same period a year ago by 18 cents. Revenue improved, reaching $2.5 billion for the quarter. Analysts had predicted earnings per share of $0.65 on revenue of $2.56 billion.
The company also reported revenue for 2021 of $7.3 billion, with its increase attributed to organic growth delivered across its government businesses, such as supporting Operation Allies Welcome. As a result, 2021 earnings per share reached $2.42.
KBR announced an increase to its quarterly dividend of $0.12 per share, representing a 9% rise compared to 2021.
"KBR had a stellar 2021 delivering significant progress toward its 2025 growth strategy," said Stuart Bradie, President and CEO of KBR. "Throughout the year, our Team of Teams posted outstanding performance across all key metrics – organic revenue growth, earnings expansion, cash generation, new program wins, and Zero Harm.”
KBR expects revenue to be between $6.3 billion and $6.8 billion in 2022. Adjusted earnings per share for the year are predicted to be between $2.04 and $2.19.