KBR, Inc. (KBR)

NYSEIndustrialsEngineering & ConstructionSnapshot 2026-10-23

$39.23-0.76%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge KBR, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.8%

+10% or more+5%0%−5%−10% or less

4.04 → 4.08 EPS · FY ending Jan 2, 2028 · 6 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 6; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	2.1B
EPS	—	1.043
FY 2026 · Annual
Revenue	$7.9B–$8.36B	8.06B
EPS	$3.87–$4.22non-GAAP	4.002
EBITDA	$980M–$1.04Bnon-GAAP	—
Operating cash flow	$560M–$600Mnon-GAAP	—
FY 2027 · Annual
Revenue	—	8.52B
EPS	—	4.076

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Cash from operating activities at least $110 million	Cash from operations is improving, supporting financial flexibility.	Intact	Cash from operations falls below $98 million next year	Cash from operations: $50M FY2026-Q2; GAAP. Published target: >= $110 million. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 30, 202650,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jul 4, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain dividend per share at $0.165	The company maintains a stable dividend of $0.165 per share.	Intact	Dividend per share cut below $0.165	Dividend per share: $0.17 per share FY2026-Q2; GAAP. Published target: $0.165 per share. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 30, 20260.165 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jul 3, 2026 Source: company_financial_results. Reference: 3da5a740-3e7d-4ab9-ad96-403c559803d2. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue near $8.15 billion	Revenue is expected near $8.15 billion in 2026.	Intact	Revenue falls below $7.75 billion in FY26	Revenue: $1.984B FY2026-Q2; GAAP. Published target: ~$8.15B. Target period is not explicitly aligned with this observation. Source published Jul 30, 20261,984,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jul 3, 2026 Source: company_financial_results. Reference: 3da5a740-3e7d-4ab9-ad96-403c559803d2. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2028 · fiscal year ending 2028-01-02 · fmp

FY2028 EPS$4.08

$4.13 → $4.08 · observed estimates

FY2028 revenue$8.52B

$8.42B → $8.52B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2028 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$4.13	$8,424,085,875	6 / 7
2026-07-25	$4.13	$8,424,085,875	6 / 7
2026-07-26	$4.14	$8,414,401,365	6 / 7
2026-07-27	$4.14	$8,414,401,365	6 / 7
2026-07-28	$4.14	$8,414,401,365	6 / 7
2026-07-29	$4.14	$8,414,401,365	6 / 7
2026-07-30	$4.14	$8,414,401,365	6 / 7
2026-07-31	$4.08	$8,397,179,142	5 / 7
2026-08-01	$4.08	$8,397,179,142	5 / 7
2026-08-02	$4.08	$8,516,889,406	5 / 7
2026-08-03	$4.08	$8,516,889,406	5 / 7
2026-08-04	$4.08	$8,516,889,406	5 / 7
2026-08-05	$4.08	$8,516,889,406	5 / 7
2026-08-06	$4.08	$8,516,889,406	5 / 7
2026-08-07	$4.08	$8,516,889,406	5 / 7
2026-08-08	$4.08	$8,516,889,406	5 / 7
2026-08-09	$4.08	$8,516,889,406	5 / 7
2026-08-10	$4.08	$8,516,889,406	5 / 7
2026-08-12	$4.08	$8,516,889,406	5 / 7
2026-08-13	$4.08	$8,516,889,406	5 / 7
2026-08-14	$4.08	$8,516,889,406	5 / 7
2026-08-15	$4.08	$8,516,889,406	5 / 7
2026-08-16	$4.08	$8,516,889,406	5 / 7
2026-08-17	$4.08	$8,516,889,406	5 / 7
2026-08-18	$4.08	$8,516,889,406	5 / 7
2026-08-19	$4.08	$8,516,889,406	5 / 7
2026-08-20	$4.04	$8,492,538,656	6 / 7
2026-08-21	$4.04	$8,492,538,656	6 / 7
2026-08-22	$4.04	$8,492,538,656	6 / 7
2026-08-23	$4.04	$8,492,538,656	6 / 7
2026-08-24	$4.04	$8,492,538,656	6 / 7
2026-08-25	$4.04	$8,492,538,656	6 / 7
2026-08-26	$4.04	$8,492,538,656	6 / 7
2026-08-27	$4.04	$8,492,538,656	6 / 7
2026-08-28	$4.04	$8,492,538,656	6 / 7
2026-08-29	$4.04	$8,492,538,656	6 / 7
2026-08-30	$4.04	$8,492,538,656	6 / 7
2026-08-31	$4.04	$8,492,538,656	6 / 7
2026-09-01	$4.04	$8,492,538,656	6 / 7
2026-09-02	$4.04	$8,492,538,656	6 / 7
2026-09-03	$4.04	$8,492,538,656	6 / 7
2026-09-04	$4.04	$8,492,538,656	6 / 7
2026-09-05	$4.04	$8,492,538,656	6 / 7
2026-09-06	$4.04	$8,492,538,656	6 / 7
2026-09-07	$4.04	$8,492,538,656	6 / 7
2026-09-08	$4.04	$8,492,538,656	6 / 7
2026-09-09	$4.04	$8,492,538,656	6 / 7
2026-09-10	$4.04	$8,492,538,656	6 / 7
2026-09-11	$4.04	$8,492,538,656	6 / 7
2026-09-12	$4.04	$8,492,538,656	6 / 7
2026-09-13	$4.04	$8,492,538,656	6 / 7
2026-09-14	$4.04	$8,492,538,656	6 / 7
2026-09-15	$4.02	$8,514,769,138	6 / 7
2026-09-16	$4.02	$8,514,769,138	6 / 7
2026-09-17	$4.02	$8,514,769,138	6 / 7
2026-09-18	$4.02	$8,514,769,138	6 / 7
2026-09-19	$4.02	$8,514,769,138	6 / 7
2026-09-20	$4.04	$8,492,538,656	5 / 7
2026-09-21	$4.04	$8,492,538,656	6 / 7
2026-09-22	$4.04	$8,492,538,656	6 / 7
2026-09-23	$4.04	$8,492,538,656	6 / 7
2026-09-24	$4.04	$8,492,538,656	6 / 7
2026-09-25	$4.04	$8,492,538,656	6 / 7
2026-09-26	$4.04	$8,492,538,656	6 / 7
2026-09-27	$4.04	$8,492,538,656	6 / 7
2026-09-28	$4.04	$8,492,538,656	6 / 7
2026-09-29	$4.04	$8,492,538,656	6 / 7
2026-09-30	$4.04	$8,492,538,656	6 / 7
2026-10-01	$4.04	$8,492,538,656	6 / 7
2026-10-02	$4.04	$8,492,538,656	6 / 7
2026-10-03	$4.06	$8,507,260,117	6 / 7
2026-10-04	$4.06	$8,507,260,117	6 / 7
2026-10-05	$4.06	$8,507,260,117	6 / 7
2026-10-06	$4.06	$8,507,260,117	6 / 7
2026-10-07	$4.06	$8,507,260,117	6 / 7
2026-10-08	$4.06	$8,507,260,117	6 / 7
2026-10-09	$4.06	$8,507,280,449	6 / 7
2026-10-10	$4.06	$8,507,280,449	6 / 7
2026-10-11	$4.06	$8,507,280,449	6 / 7
2026-10-12	$4.06	$8,507,280,449	6 / 7
2026-10-13	$4.06	$8,507,280,449	6 / 7
2026-10-14	$4.06	$8,507,280,449	6 / 7
2026-10-15	$4.06	$8,507,280,449	6 / 7
2026-10-16	$4.08	$8,516,024,894	6 / 7
2026-10-17	$4.08	$8,516,024,894	6 / 7
2026-10-18	$4.08	$8,516,024,894	6 / 7
2026-10-19	$4.08	$8,516,024,894	6 / 7
2026-10-20	$4.08	$8,516,024,894	6 / 7
2026-10-21	$4.08	$8,516,024,894	6 / 7
2026-10-22	$4.08	$8,516,024,894	6 / 7
2026-10-23	$4.08	$8,516,024,894	6 / 7
2026-10-24	$4.08	$8,516,024,894	6 / 7

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	5	4
2026-06-01	5	4
2026-07-01	4	4
2026-08-01	4	4
2026-09-01	4	4
2026-10-01	4	4

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 4 Buy / Strong Buy · 4 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Cash from operating activities at least $110 millionCash from operations: $50M
Maintain dividend per share at $0.165Dividend per share: $0.17 per share
Revenue near $8.15 billionRevenue: $1.984B

Next proof point

Oct 29, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.2%Typical daily move · historical

Downside history

-32.9%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

KBR, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

KBR represents a stable investment in the industrials sector, with a focus on operational efficiency and growth in core markets. The current thesis is supported by a recent earnings beat and ongoing management priorities, despite some mixed results.

What's priced into KBR, Inc.

The market currently prices KBR as cheap compared to its peers, reflecting an expectations gap. This suggests that investors may not fully anticipate the potential benefits from the company's ongoing initiatives and sector performance.

What the fundamentals likely do

Fundamentals are expected to remain stable, with management prioritizing the spin-off of the Mission Technology Solutions segment and maintaining cost discipline. However, the recent decline in operating income margin indicates that execution will be key in the near term.

What KBR, Inc. hinges on

The long-term thesis hinges on KBR's ability to complete its spin-off successfully and manage costs effectively. Additionally, the performance of sector bellwethers like PWR, FIX, and EME will be critical in shaping the broader industrials momentum.