Chicago Bridge & Iron (CBI +1.1%) gains despite posting a Q1 result that missed estimates...
Wednesday, April 25, 2012, 3:15 PM ETChicago Bridge & Iron (CBI +1.1%) gains despite posting a Q1 result that missed estimates yesterday. Net earnings actually rose 18% Y/Y, led by growth at its project engineering and construction business. UBS' Steven Fisher says the quarter was hurt by lower than expected Steel Plate revenue and Lummus Tech income plus higher SG&A, but margins were better than expected and revenues should ramp up going forward.
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