Credit and interest ratespositive · 4 filings
“The decrease in interest expense was primarily driven by decreases in the U.S.”10-Q · May 5, 2026 ↗
KBR, Inc.
KBR
Market read
KBR, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 30 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
What changed
- Revenue decreased 4.7% versus the comparable filing period.
Company+1.0% todayVolume comparison unavailable
Market group0 of 30 activeMixed Multi-Sector · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Filing attributes a decrease in interest expense to decreases in the U.S. federal reserve funds rate between the three months ended Apr 4, 2025 and Apr 3, 2026.
Invalidation: The isolated read changes if KBR's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 30 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
- Revenue decreased 4.7% versus the comparable filing period.
- Operating margin fell 0.6 percentage points.
- Gross margin fell 1.1 percentage points.
What would clarify the read
- Filing attributes a decrease in interest expense to decreases in the U.S. federal reserve funds rate between the three months ended Apr 4, 2025 and Apr 3, 2026.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements83
Verified relationships1
Evidence supporting the case
- Operating margin changed +1.4 percentage points in the latest annual period.
- Credit and interest rates has repeated favorable evidence across 4 filings.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
36.466m-3.2%12m-26.1%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$7.3B+27.3%$0.19-0.7%
2022-12-31$6.6B-10.6%$1.26+10.6%
2023-12-29$7.0B+6.0%$-1.96-13.5%
2025-01-03$7.7B+10.8%$2.79-0.7%
2026-01-02$7.8B+1.0%$3.21-3.7%
What management says matters
Persistent and emerging business drivers
Demand and volumemixed · 4 filings
“The difference between backlog of $17.3 billion and the remaining performance obligations as defined by ASC Topic 606, Revenue from Contracts with Customers , of $13.6 billion i s primarily due to our proportionate share of backlog related to unconsolidated j…”10-Q · May 5, 2026 ↗
Macroeconomic conditionsmixed · 4 filings
“We anticipate the federal budget will continue to be subject to debate and compromise shaped by, among other things, the Administration and Congress, efficiency initiatives, the global security environment, inflationary pressures including tariffs and macroec…”10-Q · May 5, 2026 ↗
Tariffs and trade policymixed · 4 filings
“We anticipate the federal budget will continue to be subject to debate and compromise shaped by, among other things, the Administration and Congress, efficiency initiatives, the global security environment, inflationary pressures including tariffs and macroec…”10-Q · May 5, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
36.46+1.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for KBR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-05-05 against the comparable filing from 2025-05-06.
OperationscautiousEvidence score -3
liquidityneutralEvidence score 0
valuationdiscount
What improved
No thresholded improvement was identified.
What weakened
- Revenue decreased 4.7% versus the comparable filing period.
- Operating margin fell 0.6 percentage points.
- Gross margin fell 1.1 percentage points.
Filing receipts
“The difference between backlog of $17.3 billion and the remaining performance obligations as defined by ASC Topic 606, Revenue from Contracts with Customers , of $13.6 billion i s primarily due to our proportionate share of backlog related to unconsolidated joint ventures which is not included in our remaining performance obligations.”
“The decrease in interest expense was primarily driven by decreases in the U.S. federal reserve funds rate from the three months ended April 4, 2025 to the three months ended April 3, 2026.”
“The decrease in overall revenue of $95 million, or 5%, to $1,923 million for the three months ended April 3, 2026 from $2,018 million for the three months ended April 4, 2025 is primarily due to reduced contingent activity within the European command in our MTS segment.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind KBR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
JYNTFiling-linked namepartnerMay 5, 2026 ▾
“Joint venture cash and Aspire Defence project cash balances reflect the amounts held by joint venture entities that we consolidate for financial reporting purposes.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
KBR is currently a Participant in the organic co-movement group Mixed Multi-Sector. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for KBR; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.