CB&I Announces Rapid Disaster Infrastructure Response Contract with U.S. Army Corps of Engineers
Aug 19 15
CB&I announced it has been awarded a contract valued at approximately $60 million for the U.S. Army Corps of Engineers, Omaha District, Rapid Disaster Infrastructure Response Program. CB&I's scope of work includes flood control, water diversion projects and channel alignments resulting from time-sensitive natural or man-made disasters throughout the U.S.
Chicago Bridge & Iron Company N.V. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year of 2015
Jul 23 15
Chicago Bridge & Iron Company N.V. announced consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $3,207,113,000 against $3,294,379,000 a year ago, which was unfavorably impacted by $240 million due to the strengthening of the U.S. dollar versus prior year. On a constant-currency basis, revenue was up 5% versus the prior year quarter. Income from operations was $284,107,000 against $260,211,000 a year ago. Income before taxes was $265,177,000 against $240,013,000 a year ago. Net income attributable to the company was $169,515,000 against $142,404,000 a year ago. Diluted net income attributable per share to the company was $1.55 against $1.31 a year ago. Adjusted income from operations was $269,748,000 against $269,748,000 a year ago. Adjusted net income attributable to the company was $148,317,000 against $112,321,000 a year ago. Diluted adjusted net income per share attributable to the company was $1.36 against $1.04 a year ago. The company generated positive net operating cash flows of $95 million, representing an improvement of $320 million and net operating cash from the comparable period in 2014.
For the six months, the company reported revenue of $6,332,858,000 against $6,222,511,000 a year ago, a 2% increase year-over-year despite continued negative headwinds associated with foreign exchange fluctuations. Income from operations was $530,905,000 against $422,694,000 a year ago. Income before taxes was $491,737,000 against $385,669,000 a year ago. Net income attributable to the company was $301,743,000 against $231,355,000 a year ago. Diluted net income attributable per share to the company was $2.76 against $2.12 a year ago. Cash flows used in operating activities was $194,704,000 against $374,363,000 a year ago. Capital expenditures were $63,717,000 against $58,179,000 a year ago.
For the full year of 2015, revenue, on a constant-currency basis, is expected to be at the lower end of guided range of $14.4 billion to $15.2 billion. The company expects 2015 earnings per share performance to be within range of $5.55 to $6.05, and continues to expect cash flow from operating activities to approximate earnings for the full year.