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Chicago Bridge & Iron reports 4Q loss

THE HAGUE, Netherlands (AP) _ Chicago Bridge & Iron Co. (CBI) on Tuesday reported a loss of $665.7 million in its fourth quarter.

The The Hague, Netherlands-based company said it had a loss of $6.65 per share. Earnings, adjusted for non-recurring costs, came to 85 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The engineering, procurement and construction services provider posted revenue of $2.54 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.73 billion.

For the year, the company reported that its loss narrowed to $313.2 million, or $3.05 per share. Revenue was reported as $10.68 billion.

Chicago Bridge & Iron shares have increased almost 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.57, rising slightly in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBI at https://www.zacks.com/ap/CBI


Keywords: Chicago Bridge & Iron, Earnings Report