Although energy prices have stayed pretty healthy in 2011, the energy services and equipment sector has been waiting for big producers to move ahead with new projects. As time has ticked by, analysts and investors have lost some patience and increasingly pushed equipment order announcements into 2012 and beyond. Based on the second quarter, though, it looks like Cameron (NYSE:CAM) is starting to see some of those long-awaited orders hit its books.
Q2 Better on Many Fronts
Cameron reported that revenue rose 16% on a sequential basis, beating the average analyst estimate. The valve and measurement business was strongest in terms of reported growth (up 26% from the first quarter), while the drilling and production business continues to be the largest contributor to sales and profits and saw revenue rise 16% sequentially. The process and compression systems business saw more modest 5% sequential growth.
To read the full piece, click below:
http://stocks.investopedia.com/stock-analysis/2011/Investors-Gush-Over-Cameron-CAM-NOV-FTI-GE-PTEN-XOM-BP0804.aspx
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