Cameron Q2 Profit Beats Consensus - Quick Facts

(RTTNews) - Cameron International Corp.'s (CAM) second-quarter 2013 GAAP net income decreased to $140.4 million, or $0.57 per share, from $174.6 million, or $0.70 per share, last year. Excluding charges, earnings per share for the second quarter of 2013 were $0.79. On average, 31 analysts polled by Thomson Reuters expected earnings per share of $0.78 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues in the period were $2.3 billion for the quarter, up 11 percent from $2.1 billion a year ago, due to gains in the DPS business segment. Analysts estimated revenues of $2.35 billion for the quarter. The company said in a statement, "Our drilling, surface and subsea systems businesses each reflected year-over-year revenue improvements due to our record backlog position."

Looking forward, Cameron's third-quarter earnings are expected to be in the range of $0.80 to $0.85 per share, excluding charges, whereas 30 analysts project earnings of $1.01 a share.

The company now sees full-year 2013 earnings to be in the range of $3.40 to $3.55 per share excluding charges, down from prior guidance, while 33 analysts anticipate 2013 earnings of $3.68 a share.

Cameron's backlog at the end of the second quarter was $10.5 billion.