Seems like the red ink is just pouring in. KBR posts loses too. More to come on the 1st Qtr financial reports for 2020. Here is how KBR describes things in a press release on the same day of the financial report:
Our Energy Solutions business has been adversely impacted by the energy market downturn and COVID-19-related demand reductions.
The country has been shutdown since mid-March – I don’t think that two weeks of shutdown can cause a financial loss.
In millions of dollars,
Total Income $1,537
Net Income $-104
Total Assets $5,104
Total Liabilities $3,446
Total Equity $1,658
Houston Energy Industry News 