Q: Your thoughts on earnings please. Thank-you.
5i Research Answer:
EPS of $0.64 was ahead of estimates at $0.6, EBITDA was largely in-line and revenues at $951 mln were slightly ahead of estimates. Delays and general economic softness seemed to weigh on the shorter-term outlook which sent shares lower. Backlog and pending backlog was at a record $10 billion and revenues were up 5.8% over last year. It might need a bit of patience just given the project delays they are dealing with but overall the quarter looked fine.