Chicago Bridge & Iron Co. (CBI:$60.928,0$1.918,03.25%) gave a mixed forecast for the year, while saying it expects to capture more new business in 2013 than last year, aided by growing demand for energy infrastructure.
The engineering and construction company has posted stronger results every quarter for two years as it won contracts for large infrastructure and engineering projects and worked to diversify its offerings in growth areas like power generation.
CB&I on Thursday estimated 2013 adjusted earnings at $4 to $4.35 a share on revenue between $10.7 billion and $11.2 billion, while analysts surveyed by Thomson Reuters expect $4 a share on $11.48 billion.
Ahead of its investor day in New York, the company also forecast new awards of $13 billion to $16 billion this year, compared with $7.3 billion in 2012.
Last month, CB&I reported its fourth-quarter earnings rose 27% as revenue climbed 22% and margins improved.
Shares were recently trading 2.5% higher at $60.50 premarket. The stock had climbed 27% so far this year through Wednesday's close.
Write to Melodie Warner at melodie.warner@dowjones.com
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