Price of Oil went from 108 to 95 barrell, folks in the oil ind took the hit, so did ROYT...oil goes back up so will ROYT..dividend dropped because income dropped...it will come back, patience. Divy is still good.
An outstanding corporation, a heavy hitter in the energy-petrochemical industry delivers again...and I quote from CBI press release:
THE WOODLANDS, Texas, Oct. 29, 2013 /PRNewswire/ -- CB&I (CBI) today reported net income for the third quarter of $117.7 million, or $1.08 per diluted share, including the after tax impact of acquisition-related costs of $3.7 million, or $0.04 per diluted share. Revenue for the third quarter was $3.0 billion with new awards of $2.5 billion, resulting in a backlog of $24.5 billion.
"CB&I had another successful quarter and continued to deliver growth in revenue and income from operations. Revenue was up 107% from $1.4 billion in the third quarter 2012, and adjusted income from operations was $207.4 million, up 57% from the comparable period last year. The company earned adjusted earnings per share of $1.12," said Philip K. Asherman, President and CEO. "We are confident in our ability to convert major prospects into new backlog in the fourth quarter of 2013 and in 2014, while sustaining the margins in the end markets we serve."
stupid post. CBI has been growing profits and expanding its services by the purchase of the Shaw group....even Warren Buffet can see that its a great investment. And you can thank Ben Bernake because he has navigated the economic recovery in a see of rebellious tea party a-holes who done everything possible to undermine our economy so that they can destroy our popularly twice-elected president. Your comment is meaningless drivel. #$%$
I first invested in CBI several years back when it was at 8.50 share...today its 70. At that time it had a backlog of several billion 1500 patents and was uniquely positioned in the petro-chemical industry. Today its backlog is over 20 billion and growing and it is recognized as it was then as a industry leader in every aspect from engineering to construction and maintenance. Today is proof that committed management and stellar execution on contracts makes for a rewarding investment....let it ride....Ohtaegun I hope you are still with us.