KBR reports Q1 fiscal 2026 revenue down 5%, net income down 12%, plans spin-off of Mission Technology Solutions.

KBR reported first quarter fiscal 2026 revenues of $1.9 billion, down 5% due to expected EUCOM contingency runoff, with net income attributable to KBR falling 12% to $102 million. Operating income decreased 11% to $180 million, while adjusted EBITDA rose slightly by 1% to $251 million. The company reaffirmed its full-year fiscal 2026 guidance and is progressing with a planned spin-off of its Mission Technology Solutions segment to create two focused public companies, aiming to enhance strategic focus and shareholder value. Backlog remains strong at $23.2 billion with a book-to-bill ratio of 1.1x, indicating steady demand across core markets.