KBR shifts from three segments to two

KBR said today it is moving from three business segments to two: government solutions and technology solutions.

Stuart Bradie, KBR's chief executive, said in a call with analysts today that the company completed a portfolio review.

"This shift really simplifies our business and moves us away from more commoditized, cyclical and volatile services and markets," he said.

KBR said the portfolio shaping will occur over the remainder of the year. KBR today reported non-cash restructuring and impairment charges of $96 million during the quarter in connection with the portfolio review.