Chicago Bridge & Iron
The 10-second takeaway
For the quarter ended March 31 (Q1), Chicago Bridge & Iron missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.
Margins dropped across the board.
Chicago Bridge & Iron logged revenue of $1.20 billion. The 14 analysts polled by S&P Capital IQ hoped for net sales of $1.27 billion on the same basis. GAAP reported sales were 26% higher than the prior-year quarter's $954.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.60. The 15 earnings estimates compiled by S&P Capital IQ forecast $0.65 per share. GAAP EPS of $0.60 for Q1 were 20% higher than the prior-year quarter's $0.50 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 12.8%, 150 basis points worse than the prior-year quarter. Operating margin was 7.0%, 60 basis points worse than the prior-year quarter. Net margin was 5.0%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.36 billion. On the bottom line, the average EPS estimate is $0.73.
Next year's average estimate for revenue is $5.57 billion. The average EPS estimate is $3.00.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,326 members out of 1,356 rating the stock outperform, and 30 members rating it underperform. Among 366 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 359 give Chicago Bridge & Iron a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chicago Bridge & Iron is outperform, with an average price target of $53.97.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.