Chicago Bridge & Iron N.V. Earnings: Here’s Why Investors are Selling Shares 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 down 1.74%.

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

Results: Adjusted Earnings Per Share increased 40.54% to $1.04 in the quarter versus EPS of $0.74 in the year-earlier quarter.

Revenue: Rose 119.39% to $2.85 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Chicago Bridge & Iron Company N.V. reported adjusted EPS income of $1.04 per share. By that measure, the company beat the mean analyst estimate of $1.03. It beat the average revenue estimate of $2.81 billion.

Quoting Management: “I am pleased to report that CB&I delivered strong execution in the second quarter,” said Philip K. Asherman, President and CEO. “The company continued to deliver growth in revenue and income from operations. Revenue was up 119% from $1.3 billion in the second quarter 2012, and adjusted income from operations was $195.4 million, up 87% from the comparable period last year. CB&I reported second quarter adjusted earnings per share of $1.04.”

Key Stats (on next page)…

Revenue increased 26.63% from $2.25 billion in the previous quarter. EPS increased 26.83% from $0.82 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.13 and has not changed. For the current year, the average estimate has moved down from a profit of $4.21 to a profit of $4.20 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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