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Chicago Bridge & Iron Beats – Analyst Blog
Zacks Market Commentaries (November 2nd, 2009) Writes:
Chicago Bridge & Iron Company NV (CBI) reported net income of $40.8 million, or 42 cents per diluted share, for the third quarter of 2009, compared with $8.6 million, or 9 cents per diluted share, in the third quarter of 2008. This was higher than Zacks Consensus Estimate of 38 cents per share. Revenue for the quarter was $1.0 billion compared with third quarter 2008 revenue of $1.6 billion.
New awards for the reported quarter totaled $1.6 billion, including CB&I’s $550 million Gorgon LNG contract in Australia and the $530 million GASCO award in Abu Dhabi. With less work, the company cut sales-related costs 39%, although overhead shrank by a more modest 12%.
Earlier, the company had announced that it has agreed to buy hydrogen-management technology from H2Gen Innovations Inc. in order to get hold of the Mars modularized Pressure Swing Adsorption (PSA) technology. H2Gen's PSA technology ...
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Abu Dhabi, Analyst, Australia, Blog Chicago Bridge, cent;, Chicago Bridge & Iron Company NV, energy infrastructure projects, gas separation, hydrogen-management technology, Innovations Inc., Investing Lessons, Matrix Service Company, Metals, Oil And Gas, Oil Gas, petrochemicals, process ;, process technologies, PSA technology, SGD, Stocks to Watch, The Hague;, The Netherlands, USD, Zacks Market Commentaries
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