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CB&I sees 2013 project awards outpacing revenue
March 28, 2013 / 1:05 PM / in 5 years

CB&I sees 2013 project awards outpacing revenue

March 28 (Reuters) - Chicago Bridge & Iron Co NV, the second-largest U.S.-listed engineering company by backlog, gave an updated forecast on Thursday calling for the value of its backlog of projects to grow in 2013.

Reflecting its recently closed $3 billion acquisition of rival Shaw Group, CB&I Chief Executive Philip Asherman said he expects revenue of $10.7 billion to $11.2 billion for this year, and new awards of $13 billion to $16 billion.

Earnings per share for 2013 should be between $4.00 and $4.35, excluding Shaw-related acquisition costs that, after a tax benefit, should reduce earnings by 55 to 70 cents per share.

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