CB&I post $107 mln Q1 profit

CB&I post $107 mln Q1 profit

The LNG engineer Chicago Bridge & Iron posted a US$107 million profit for the first quarter of 2016, a 19.1 percent drop compared to a $132.2 million profit during the same quarter in 2015. 

However, this is a turnaround compared to the $65.7 million loss during the previous quarter, the fourth quarter in 2015.

Revenue for the quarter was at $2.7 billion, 14.6 percent down on the same quarter in 2015, when the company recorded a quarterly revenue of $3.1 billion, CB&I’ statement on Wednesday revealed.

New awards for the first quarter were $1.2 billion with a backlog of $21.2 billion, CB&I said. These awards include scope increases for an LNG mechanical erection and instrumentation project in Australia.

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Posted on April 21, 2016 with tags .

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