Chicago Bridge & Iron N.V. Earnings: Here’s Why Investors are Happy Now
Chicago Bridge & Iron Company N.V. (NYSE:CBI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.19%.
Chicago Bridge & Iron Company N.V. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30% to $0.91 in the quarter versus EPS of $0.70 in the year-earlier quarter.
Revenue: Decreased 0% to $1.54 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Chicago Bridge & Iron Company N.V. reported adjusted EPS income of $0.91 per share. By that measure, the company beat the mean analyst estimate of $0.83. It beat the average revenue estimate of $1.48 billion.
Quoting Management: “I am extremely pleased that CB&I has delivered another year of strong new awards and outstanding performance, resulting in double-digit backlog growth and earnings per share exceeding the top end of our expectations for 2012,” said Philip K. Asherman, President and CEO. “I am particularly proud that we continue to achieve exceptional safety performance around the world. On nearly 71 million work-hours at year-end and with one of our businesses having executed more than 39 million work-hours with zero lost time incidents, CB&I remains in the top tier of safest companies in the industry. Our relentless focus on safety provides the company with not only a tremendous competitive advantage, but also drives recruiting, retention, and client confidence, and most importantly it’s the right thing to do for our employees.”
Key Stats (on next page)…