Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of construction firm KBR, (NYSE:KBR) dropped 13% today after announcing earnings.

So what: Revenue fell from $1.8 billion a year ago to $1.7 billion in the fourth quarter, and net income dropped 10%, to $27 million, or $0.18 per share. To make matters worse, management said it expects to earn $1.75 to $2.10 per share next year, well below the $2.69 estimate from Wall Street. 

Now what: The gas monetization business was responsible for most of the decline in revenue, and the delay in closing two LNG projects also affected earnings. The earnings expectation for next year is up from $1.54, but investors clearly expected more improvement next year. I don't think the business is fundamentally flawed, but shares may have gotten ahead of themselves, and would be worth another look if they continue to fall during the next few weeks.

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Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.