Chicago Bridge & Iron Earnings: Here’s Why Shares are Up 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 0.09%.

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Chicago Bridge & Iron Company N.V. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 36.67% to $0.82 in the quarter versus EPS of $0.60 in the year-earlier quarter.

Revenue: Rose 87.39% to $2.25 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Chicago Bridge & Iron Company N.V. reported adjusted EPS income of $0.82 per share. By that measure, the company beat the mean analyst estimate of $0.74. It beat the average revenue estimate of $2.18 billion.

Quoting Management: “CB&I had another successful quarter, including the achievement of an important strategic milestone with the financial close of the Shaw transaction on February 13,” said Philip K. Asherman, President and CEO. “For the first quarter, CB&I delivered strong growth in revenue and income from operations. Revenue was up 87% from $1.2 billion in the first quarter of 2012, and adjusted income from operations was $147.8 million, up 72% compared to the same period last year. We are encouraged by the robust accretion of the acquisition. Our combined operations earned adjusted earnings per share of $0.82.”

Key Stats (on next page)…

Revenue increased 46.41% from $1.54 billion in the previous quarter. EPS decreased 9.89% from $0.91 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.86 to a profit $1.04. For the current year, the average estimate has moved up from a profit of $3.51 to a profit of $4.21 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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