CB&I’s profit down

CB&I's profit down

The LNG engineer Chicago Bridge & Iron on Wednesday reported a second quarter net income of US$123.8 million, 26.9 percent decrease compared to the $169.5 million in the corresponding quarter of 2015. 

Revenues for the second quarter of 2016 were $2.7 billion, as compared to $3.2 billion in the second quarter of 2015, the company said.

New awards for the second quarter of 2016 totaled $1.8 billion, as compared to $2.8 billion for the second quarter of 2015.

The company’s profit for the first six months of 2016 reached 230.7 million, a significant drop of 23.5 percent from 301.7 million in the first six months of 2015.

Despite the drop in profit, CB&I’s president and CEO Philip K. Asherman said that the rebound in new awards is a sign for subsequent EPC awards.

Share this article

Follow LNG World News

Posted on July 28, 2016 with tags .

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >