Chicago Bridge & Iron Company N.V. provides conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management, and environmental services worldwide. The company’s Engineering, Construction and Maintenance segment offers engineering, procurement, and construction services for energy infrastructure facilities, as well as comprehensive and integrated maintenance services. Its projects include nuclear, fossil, and renewable electric generating plants for the power industry; and upstream and downstream process facilities for the oil and gas industry. The company’s Fabrication Services segment is involved in the fabri...
Prinses Beatrixlaan 35
The Hague, 2595 AK
Founded in 1889
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.