CB&I 3Q Net Income at USD 117.7 Mln, USA

October 30, 2013

CB&I reported net income for the third quarter of $117.7 million, including the after tax impact of acquisition-related costs of $3.7 million.

Revenue for the third quarter was $3.0 billion with new awards of $2.5 billion, resulting in a backlog of $24.5 billion.

“CB&I had another successful quarter and continued to deliver growth in revenue and income from operations. Revenue was up 107% from $1.4 billion in the third quarter 2012, and adjusted income from operations was $207.4 million, up 57% from the comparable period last year. The company earned adjusted earnings per share of $1.12,” said Philip K. Asherman, President and CEO.

“We are confident in our ability to convert major prospects into new backlog in the fourth quarter of 2013 and in 2014, while sustaining the margins in the end markets we serve.”

[mappress]

LNG World News Staff, October 30, 2013; Image: CB&I