Cameron profits up 18% on strong orders

by on July 26, 2012 12:48 pm BST

The Houston-based contractor saw its second highest quarter ever for orders for the second consecutive quarter, grabbing new business worth $2.6 billion in the past three months.

The company also hiked its overall order book to a record $7.5 billion.

Chief executive Jack Moore said the company was continuing to buck a weak growth outlook in North America with order books increasing in all of its departments, particularly in surface and valves and measurement.

Revenues were $2.05 billion for the quarter, up 18% from $1.74 billion at the same time last year.

Earnings per share of $0.70 came in at the low end of its targeted $0.70 to $0.75 for the period, with the company now forecasting $0.87 to $0.90 for the third quarter while maintaining its 2012 guidance of $3.20 to $3.30 per share.