NEW YORK (TheStreet) -- Shares of KBR Inc. (KBR) are lower by -10.79% to $23.48 in pre-market trading on Thursday after the company reported a net income loss of -$43 million, or 29 cents per diluted share for the 2014 first quarter, versus a net income of $88 million, or 59 cents per diluted share for the year ago period.
The company, which is a global engineering, and construction services company operating in various markets, posted consolidated revenue of $1.6 billion for the 2014 first quarter versus $1.8 billion for the 2013 first quarter.
Gross profit for the most recent quarter was $39 million, compared to $156 million from the same quarter last year.
Separately, TheStreet Ratings team rates KBR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate KBR INC (KBR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and poor profit margins."