March 03, 2015 3:59 PM ET

Construction and Engineering

Company Overview of Chicago Bridge & Iron Company N.V.

Company Overview

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...

Oostduinlaan 75

The Hague,  2596 JJ

Netherlands

Founded in 1889

54,400 Employees

Phone:

31 70 373 2010

Key Executives for Chicago Bridge & Iron Company N.V.

Chief Executive Officer, President and Member of Supervisory Board
Age: 63
Total Annual Compensation: $3.2M
Chief Financial Officer and Executive Vice President
Age: 58
Total Annual Compensation: $576.9K
Executive Vice President and Group President of Fabrication Services
Age: 58
Total Annual Compensation: $659.0K
Executive Vice President and Group President of Government Solutions
Age: 53
Total Annual Compensation: $607.0K
Operating Group President of Technology and Executive Vice President
Age: 62
Total Annual Compensation: $602.1K
Compensation as of Fiscal Year 2013.

Chicago Bridge & Iron Company N.V. Key Developments

Chicago Bridge & Iron Company N.V. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Chicago Bridge & Iron Company N.V. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $3,371,686,000 compared to $3,000,257,000 a year ago. Income from operations was $273,852,000 compared to $210,426,000 a year ago. Income before taxes was $254,564,000 compared to $190,641,000 a year ago. Net income attributable to the company was $150,410,000 or $1.37 per diluted share compared to $196,781,000 or $1.80 per diluted share a year ago. Adjusted net income attributable to the company was $161,270,000 or $1.47 per diluted share compared to $208,915,000 or $1.91 per diluted share a year ago. The company invested $38 million in capital expenditures. Cash generated from fourth quarter 2014 operating activities was strong and totaled $613 million. This cash from operating activities was primarily the result of a net improvement in contract capital of approximately $384 million with the balance of approximately $229 million from earnings and other operating activities. Cash flow from operating activities, excluding the U.S. nuclear projects, totaled an excess of $800 million, representing a solid cash flow quarter for the remainder of business. Adjusted EBITDA totaled $337 million or 10% of revenues for the fourth quarter compared to $279 million or 9.3% of revenues in the comparable 2013 period. For the year, the company reported revenue of $12,974,930,000 compared to $11,094,527,000 a year ago. Income from operations was $982,608,000 compared to $684,508,000 a year ago. Income before taxes was $907,542,000 compared to $603,860,000 a year ago. Net income attributable to the company was $543,607,000 or $4.98 per diluted share compared to $454,120,000 or $4.23 per diluted share a year ago. Adjusted net income attributable to the company was $568,695,000 or $5.21 per diluted share compared to $527,436,000 or $4.91 per diluted share a year ago. Cash flows from operating activities were $264,047,000 compared to cash used in operating activities of $112,836,000 a year ago. Capital expenditures were $117,624,000 compared to $90,492,000 a year ago. The company provided earnings guidance for the year 2015. The company marginally updated 2015 revenue guidance to $14.4 billion to $15.2 billion an indicative increase of 14% over 2014 revenue base based on the midpoint of guidance. This revenue growth reflects the continued activity and ramp-up of several large U.S. projects in backlog and the increase on year-over-year opening backlog. The company expects full year 2015 income tax expense to be in the 32% to 34% range. The effective rate increase reflects a greater portion of income being generated in higher tax jurisdictions, specifically the United States.

Chicago Bridge & Iron Mulls Acquisitions

Chicago Bridge & Iron Company N.V. (NYSE:CBI) is looking for acquisitions. President and Chief Executive Officer, Philip Asherman said, “We will still remain a reasonable cushion in cash balances for operations, continue to service our debt as planned, keep enough dry powder for technology or other tuck-in acquisitions that can demonstrate double-digit returns, and essentially drive a continuing strong balance sheet that will give us the flexibility to grow the Company strategically, when the opportunity presents itself.”

CB&I Declares Interim Dividend, Payable on March 31, 2015

CB&I declared an interim dividend on common stock of $0.07 per share, payable March 31, 2015, to shareholders of record as of March 20, 2015.

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Buyback
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