Cameron International Earnings: Another Oil Services Company Misses

Rising costs did not help S&P 500 (NYSE:SPY) component Cameron International Corporation (NYSE:CAM) in the first quarter as profit dropped from a year earlier. Cameron International Corporation is a manufacturer of oil and gas pressure control and separation equipment, including valves, blowout preventers, wellheads, controls, and chokes.

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Cameron International Earnings Cheat Sheet for the First Quarter

Results: Net income for the oil and gas equipment and services company fell to $109.5 million (43 cents/share) vs. $120.4 million (48 cents/share) a year earlier. A decline of 9.1% from the year earlier quarter.

Revenue: Rose 11.5% to $1.5 billion YoY.

Actual vs. Wall St. Expectations: CAM fell short of the mean analyst estimate of 56 cents/share. Estimates ranged from 47 cents per share to 67 cents per share.

Key Stats:

Last quarter’s profit decrease breaks a streak of two consecutive quarters of year-over-year profit increases. Net income rose 69.2% in the fourth quarter of the last fiscal year and 19% in the third quarter of the last fiscal year.

Over the last five quarters, revenue has increased 16.1% on average year over year. The biggest increase came in the third quarter of the last fiscal year, when revenue rose 24% from the year earlier quarter.

Competitors to Watch: FMC Technologies, Inc. (NYSE:FTI), T-3 Energy Services, Inc. (NASDAQ:TTES), National-Oilwell Varco, Inc. (NYSE:NOV), Dril-Quip, Inc. (NYSE:DRQ), Flotek Industries, Inc. (NYSE:FTK), Baker Hughes Incorporated (NYSE:BHI), Lufkin Industries, Inc. (NASDAQ:LUFK), Oil States Intl., Inc. (NYSE:OIS), Halliburton Company (NYSE:HAL), and Bolt Technology Corp. (NASDAQ:BOLT).

Today’s Performance: Shares of CAM are trading at $52.80 as of April 28, 2011 at 11:17 AM ET, down 3% from the previous close.

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