KBR Inc. (NYSE:KBR), a leading government solutions and sustainable technology company, saw its stock price plummet around 5% in pre-market trading on Monday after reporting mixed third-quarter results and providing a slightly raised full-year outlook.

For the quarter ended September 27, 2024, KBR reported revenue of $1.95 billion, up 10% year-over-year but narrowly missing analysts' expectations of $1.96 billion. Adjusted earnings per share came in at $0.84, in line with consensus estimates and representing a 12% increase from the prior-year quarter.

KBR's adjusted EBITDA rose 18% to $219 million, yielding an EBITDA margin of 11.2%, up 74 basis points year-over-year. The company highlighted strong bookings during the quarter, with $3.3 billion in new orders and a book-to-bill ratio of 1.2x. Total backlog stood at $22.1 billion as of September 27, up 2% from the end of fiscal 2023.

Looking ahead, KBR raised the lower end of its full-year revenue guidance to $7.5 billion from $7.4 billion previously, with the midpoint now at $7.6 billion (versus consensus of $7.59 billion). Adjusted EPS guidance was narrowed to $3.20-$3.30 from $3.15-$3.30 previously, bracketing analysts' expectations of $3.25. The company also lifted its adjusted EBITDA forecast to $840-$870 million from $825-$850 million.

Stuart Bradie, KBR's President and CEO, stated, "KBR's exceptional team has once again exceeded expectations with outstanding third-quarter results. Our team's dedication to our customers has resulted in year-over-year growth across all financial metrics, including Revenues, Adjusted EBITDA, Adjusted EPS, and notably, Operating Cash Flows."