Skip to main content

CB&I release results

Published by
Hydrocarbon Engineering,


Chicago Bridge & Iron (CB&I) have announced their financial results for the third quarter 2016 (3Q16).

CB&I has reported a net income of US$121.8 million, or US$1.20 per diluted share, for the third quarter of 2016, (3Q16) as compared to a net loss of US$740.4 million, or US$7.02 per diluted share, for the third quarter of 2015 (3Q15). On an adjusted basis, net income for the 3Q15 was US$135.9 million, or US$1.28 per diluted share.

3Q16 revenue was US$2.8 billion, as compared to US$3.3 billion in the 3Q15, or US$2.8 billion on an adjusted basis.

Net cash provided by operating activities totalled US$176 million in the period, for a total of US$495 million year to date.

New awards for the 3Q16 were US$2.7 billion, as compared to US$4 billion for the 3Q15, or US$3.9 billion on an adjusted basis. The company's backlog at the end of the 3Q16 was US$20 billion.

"Our results for the third quarter were strong, despite the headwinds of the market and movement on the timing of several new awards," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "New awards, revenues, operating income and margins, and earnings per share all reached their highest points ‘year to date’. We continue to be optimistic with a very active prospect list that we expect to see awarded in the fourth quarter and into 2017."

Read the article online at: https://www.hydrocarbonengineering.com/refining/28102016/cbi-release-results/

You might also like

 

Register for Refinery of the Future 2021

Refinery of the Future is an online conference focusing on the latest developments, trends, and innovative technology driving the future of the refining sector.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

CB&I news