Chicago Bridge & Iron Misses on the Top and Bottom Lines

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Chicago Bridge & Iron (NYS: CBI) reported earnings on April 24. Here are the numbers you need to know.

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.

Revenue details
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.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
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.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
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.

Looking ahead
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.

Investor sentiment
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.

At the time this article was published 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 ofMotley 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.

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