The LNG engineer Chicago Bridge & Iron on Wednesday reported a second quarter net income of US$123.8 million, 26.9 percent decrease compared to the $169.5 million in the corresponding quarter of 2015.
Revenues for the second quarter of 2016 were $2.7 billion, as compared to $3.2 billion in the second quarter of 2015, the company said.
New awards for the second quarter of 2016 totaled $1.8 billion, as compared to $2.8 billion for the second quarter of 2015.
The company’s profit for the first six months of 2016 reached 230.7 million, a significant drop of 23.5 percent from 301.7 million in the first six months of 2015.
Despite the drop in profit, CB&I’s president and CEO Philip K. Asherman said that the rebound in new awards is a sign for subsequent EPC awards.