CB&I revenue climbs 30%

Chicago Bridge & Iron (CB&I) has reported an adjusted net income for the first quarter 2014 of US$ 94.4 million, excluding integration related costs of US$ 8.1 million.

Revenue for Q1 climbed 30% to US$ 2.9 billion, up from $2.3 billion over the comparable period. New awards during the quarter totalled US$ 5.8 billion, which resulted in a backlog of $30.7 billion.

"Over the past two quarters, CB&I has booked more than US$ 11 billion in new awards, which includes US$ 5.8 billion in the current quarter," said Philip K. Asherman, President and Chief Executive Officer.

Noteworthy awards during the quarter included Sempra's Cameron LNG facility and structural, mechanical and piping construction work for Chevron's Wheatstone LNG facility.

Adapted from press release Callum O'Reilly

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