NEW YORK (TheStreet) -- Shares of Chicago Bridge & Iron (CBI) were soaring 13.47% to $31.34 on heavy trading volume late Friday morning after the company posted better-than-expected results for the 2016 third quarter.
After yesterday's closing bell, the Netherlands-based company reported earnings of $1.20 per diluted share, topping analysts' projections of $1.16 per share.
Revenue of $2.78 billion was above analysts' estimates of $2.75 billion, according to FactSet.
"Our results for the third quarter were strong, despite the headwinds of the market and movement on the timing of several new awards," CEO Philip Asherman said in a statement.
"New awards, revenues, operating income and margins, and earnings per share all reached their highest points year-to-date," he added.
The company provides technology and infrastructure for the energy industry.
More than 2.11 million of the company's shares traded so far today vs. its average 30-day volume of 1.52 million shares.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
Among the primary strengths of the company is its generally strong cash flow from operations.
But the team also finds weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CBI