During Thursday’s Current trade, Shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI), gain 1.97% to $44.03.
CB&I (CBI) stated the second quarter resulted in strong earnings, improved cash flow and comprising operating performance. Net income for the second quarter was $169.5 million, or $1.55 per diluted share, an enhance of 14 percent from adjusted net income for the comparable period in 2014. Revenues were $3.2 billion, counting a $240 million negative impact attributable to the translation effect of the strong dollar. Net cash offered by operating activities during the second quarter was $95 million. New awards for the second quarter totaled $2.8 billion, and new awards for the first six months totaled $5.9 billion. Backlog remained fairly constant at nearly $29.4 billion, counting an adverse foreign exchange impact of $270 million year to date.
During the quarter, CB&I and its joint venture partners Chiyoda Corporation and Saipem were selected by Anadarko Petroleum Corporation to design and construct process and ancillary infrastructure associated with its LNG development program in Mozambique. CB&I anticipates to book its share of the initial phase of the project in the fourth quarter.
Chicago Bridge & Iron Company N.V. provides conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program administration, and environmental services worldwide. The company’s Engineering, Construction and Maintenance segment offers engineering, procurement, and construction services for energy infrastructure facilities, in addition to comprehensive and integrated maintenance services. Its projects comprise nuclear, fossil, and renewable electric generating plants for the power industry; and upstream and downstream process facilities for the oil and gas industry.
Shares of Synovus Financial Corp. (NYSE:SNV), inclined 1.28% to $30.14, during its current trading session.
Synovus Financial Corp. (SNV) stated financial results for the quarter ended June 30, 2015.
Second Quarter Highlights
- Net income accessible to common shareholders for the second quarter of 2015 was $53.2 million or $0.40 per diluted share as contrast to $51.4 million, or $0.38 per diluted share for the previous quarter and $44.3 million, or $0.32 per diluted share for the second quarter 2014.
- Net income accessible to common shareholders for the second quarter of 2015 was $55.9 million or $0.42 per diluted share, not taking into account litigation contingency expense.
- Total loans grew $388.7 million or 7.4% annualized from the previous quarter and $1.04 billion or 5.1% as contrast to the second quarter 2014.
- Average core deposits grew $889.9 million or 17.8% annualized from the previous quarter and $1.45 billion or 7.4% as contrast to the second quarter 2014.
Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides various financial products and services. It offers integrated financial services, counting commercial and retail banking, financial administration, insurance, and mortgage services. The company’s commercial banking services comprise cash administration, asset administration, capital markets services, and institutional trust services, in addition to commercial, financial, and real estate loans.
Fortune Brands Home & Security Inc (NYSE:FBHS), during its Thursday’s current trading session gained 1.57% to $49.11.
Fortune Brands Home & Security, Inc. (FBHS), an industry-leading home and security products company, declared second quarter 2015 results from ongoing operations and updated its 2015 annual outlook for earnings per share.
Second Quarter 2015
For the second quarter of 2015, sales were $1.17 billion, an enhance of 13 percent over the second quarter of 2014. Earnings per share were $0.48, contrast to $0.51 in the preceding-year quarter. EPS before charges/gains were $0.59, contrast to $0.51 the same quarter last year. Operating income was $128.2 million, contrast to $125.5 million in the preceding-year quarter. Operating income before charges/gains was $150.5 million, contrast to $125.6 million the same quarter last year.
For each segment in the second quarter of 2015, contrast to the preceding-year quarter:
- Cabinet sales raised 18 percent to the preceding year. Not taking into account the impact of the Norcraft acquisition, sales raised 8 percent, with the dealer channel growing 10 percent and in-stock cabinet and vanities increasing high teens.
- Plumbing sales raised 5 percent, with growth across the U.S. wholesale and retail channels, offset somewhat by the impact of Canadian currency and slower China sales.
- Door sales were up 6 percent with growth in both the wholesale and retail channels.
- Security sales raised 28 percent driven by the SentrySafe acquisition.
Fortune Brands Home & Security, Inc. provides home and security products for use in residential home repair, remodeling, new construction, security applications, and storage. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, in addition to vanities for the kitchen, bath, and other parts of the home under various brand names, counting Aristokraft, Kitchen Craft, Kitchen Classics, Omega, Schrock, Homecrest, Decorá, Diamond, St. Paul, Kemper, Thomasville, and Martha Stewart Living in North America.
Finally, Rockwell Collins, Inc. (NYSE:COL), gained 1.93%, to $82.43.
Rockwell Collins declared that Rick Schmidt has been named vice president, Mergers & Acquisitions, effective right away. He reports to Jeff MacLauchlan, senior vice president, Corporate Development.
Schmidt has spent his entire career with Rockwell Collins and has extensive institutional knowledge and aerospace and defense industry experience. In his most recent position as senior director, Mergers & Acquisitions, he played a noteworthy role in the company’s acquisition of ARINC in 2013. He has also served in leadership positions responsible for strategy development and acquisitions across Rockwell Collins’ businesses.
Rockwell Collins, Inc. designs, produces, and supports communications and aviation systems for commercial and military customers worldwide. The company operates through three segments: Commercial Systems, Government Systems, and Information Administration Services.
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