Chicago Bridge & Iron (CBI) Misses Q4 EPS by 70c, Sales in-Line

Chicago Bridge & Iron (NYSE: CBI) reported Q4 EPS of $0.24, $0.70 worse than the analyst estimate of $0.94. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.42 billion.

"Each of our operating groups reported solid earnings for the quarter with the exception of Engineering & Construction, which was negatively impacted by underperformance on two union construction projects. Overall, new awards exceeded our expectations, indicating the rebound of opportunities in our end markets, specifically in the United States, Middle East and China," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "I'm especially proud of our outstanding safety record, having performed more than 51 million work hours with zero lost-time incidents in the past six months."

GUIDANCE:

Chicago Bridge & Iron sees FY2017 EPS of $3.50-$4.00, versus the consensus of $4.20. Chicago Bridge & Iron sees FY2017 revenue of $9.5-10.5 billion, versus the consensus of $9.97 billion.

For earnings history and earnings-related data on Chicago Bridge & Iron (CBI) click here.

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