Why Chicago Bridge & Iron Stock Fell 15% Yesterday
Shares of construction and engineering company Chicago Bridge & Iron (NYSE: CBI) fell as much as 15% in Tuesday trading, before retracing to book a 13.8% loss by day's end.
Chicago Bridge had reported its fiscal third quarter 2017 earnings the evening before, and missed analyst estimates pretty badly. Instead of the $0.53 per share in pro forma profit that Wall Street was expecting, Chicago Bridge announced adjusted earnings of just $0.34 per share. The company's quarterly revenue likewise fell short of Wall Street's anticipated $1.81 billion.
"Chicago Bridge (stock) is falling down, falling down, falling down..." Image source: Getty Images.
Source: Fool.com
