CB&I reports $25 million net income for Q1 2017

CB&I's backlog at the end of the first quarter of 2017 was $19.3 billion, said the company in a press release.

"New awards exceeded our expectations, indicating the rebound of opportunities in our end markets, specifically in the US, Middle East and China," said Philip K Asherman, CB&I's president and chief executive officer. "I am especially proud of our outstanding safety record, having performed more than 51 million work hours with zero lost-time incidents in the past six months."

The company expects to earn revenue between $9.5 billion and $10.5 billion, or $3.5-$4 per diluted share. (KD)

ALCHEMPro News Desk – India