Why Chicago Bridge & Iron Stock Plunged 49.2% in 2017 [The Motley Fool]
CHICAGO BRDGE & IRON (CBI)
Last chicago brdge & iron earnings: 4/23 04:30 pm
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Source: The Motley Fool
The engineering and construction company's woes left investors fuming. Neha Chamaria ( Nehams ) Jan 12, 2018 at 3:05PM What happened If I had to sum up 2017 for Chicago Bridge & Iron Company ( NYSE:CBI ) just one sentence, I would note how ironic it is that a company that helped build some of the largest structures in the U.S. over its 125-plus years of existence crumbled so much in just a year's time. Shares of the construction and engineering company plunged 49.2% in 2017 as a trifecta of bad news hit investors: mounting losses, high leverage, and a dividend cut. Chicago Bridge hammered the last nail in the coffin in December by deciding to sell itself to McDermott International ( NYSE:MDR ) for no premium. So what After struggling to grow its bottom line amid lower orders and writedowns on several projects, Chicago Bridge made desper
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