S&P 500 (NYSE:SPY) component Cameron International Corporation (NYSE:CAM) reported its results for the second quarter. Cameron International Corporation is a manufacturer of oil and gas pressure control and separation equipment, including valves, blowout preventers, wellheads, controls, and chokes.
Cameron International Earnings Cheat Sheet for the Second Quarter
Results: Net income for the oil and gas equipment and services company rose to $148 million (59 cents per share) vs. $129.2 million (52 cents per share) in the same quarter a year earlier. This marks a rise of 14.6% from the year earlier quarter.
Revenue: Rose 19.9% to $1.74 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: CAM reported adjusted net income of 66 cents per share. By that measure, it beat the mean analyst estimate of 64 cents per share. It beat the average revenue estimate of $1.65 billion.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 18.6%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 24% from the year earlier quarter.
Gross margin shrank 1.9 percentage points to 30.3%. The contraction appeared to be driven by increased costs, which rose 23.2% from the year earlier quarter while revenue rose 19.9%.
Net income has increased 17.4% year over year on average across the last five quarters. The biggest gain came in the fourth quarter of the last fiscal year, when income climbed 69.2% 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).
(Source: Xignite Financials)