Chicago Bridge & Iron Company N.V. (NYSE:CBI) announced first quarter 2016 net income of $107 million, or $1.01 per diluted share, compared to $132 million, or $1.21 per diluted share in the first quarter of 2015. Diluted earnings per share increased 5 percent in the first quarter of 2016 as compared to pro forma results for the comparable quarter in 2015, which exclude net income from the former nuclear construction business of $28 million, or $0.25 per diluted share. First quarter 2016 revenue of $2.7 billion compares to $3.1 billion in the first quarter of 2015, which included $488 million in revenue from the former nuclear business. On a pro forma basis, revenue increased slightly compared to 2015 first quarter results. New awards for the first quarter were $1.2 billion with a backlog of $21.2 billion.
Net cash provided by operating activities during the first quarter was $142 million, representing an increase of $432 million compared to the first quarter in 2015. Net operating cash flows combined with advance payments associated with equity-method joint ventures, which are reflected in cash flows from financing activities, totaled approximately $257 million during the first quarter 2016. At quarter end, cash and cash equivalents were $641 million, an increase of $294 million from the quarter-end balance for the first quarter 2015 and over $90 million from the year-end balance for 2015. In addition, during the quarter, total debt was reduced by $120 million from the year-end balance for 2015.
New awards for the first quarter include scope increases for an LNG mechanical erection and instrumentation project in Australia, refinery maintenance work in the United States and Canada, crude oil storage in the Middle East and Canada, petrochemical licensing in the Asia Pacific region, catalyst awards in the Middle East, environmental remediation work for the U.S. Navy, and a variety of technology and fabrication awards globally.
Chicago Bridge & Iron Company N.V. earnings per share showed a decreasing trend of -194.8% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 499%.Analysts project EPS growth over the next 5 years at 1.8%. It has EPS annual decline over the past 5 fiscal years of -34% when sales grew 28.8. It reported -14.7% sales drop, and -16.5% EPS decline in the last quarter.
The stock is trading at $38.24, up 22.4% from 52-week low of $31.3. The stock trades down -33.43% from its peak of $57.82 and 28.92% above the consensus price target of $49.3. Its volume clocked up at 5.52 million shares which is higher than the average volume of 1.55 million shares. Its market capitalization currently stands at $3.98B.
0 yorum:
Yorum Gönder