Cameron Sees Record Revenues for 3Q 2013 Earnings

Capital investment and share repurchases continue

Year-to-date cash flow from operations was $206.5 million compared to $138.2 for the comparable period in 2012. Capital spending will approximate $500 million in 2013, reflecting multiple opportunities for deployment of capital, including enhanced exposure to North American resource plays and expansion of facilities and investment in the drilling and aftermarket services businesses.

The company acquired 7.7 million of its shares during the third quarter. Total cash returned to shareholders through share repurchases totaled $558 million so far in 2013. Further, the company's board of directors approved an additional $1.0 billion share repurchase authorization at its October meeting.

Fourth quarter earnings guidance

The company's fourth quarter earnings are expected to be in the range of $0.95 to $1.00 per share, excluding charges.


View Full Article


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.