Image courtesy of Cameron

Houston-based Cameron saw record second quarter revenues, the company said Friday.

Cameron provides flow equipment products, systems and services to worldwide oil, gas and process industries.

Earnings per share for the second quarter of 2014 were $1.00, excluding unusual items, compared to $0.77 per share in the second quarter of 2013.

The unusual items for the second quarter of 2014 were after-tax credits of $0.02 per share and a $0.06 per share gain from discontinued operations.

Second quarter revenues were a record $2.64 billion, up nearly 20 percent from $2.21 billion a year ago.

Cameron Chairman, President and CEO Jack B. Moore noted that each business within the drilling and production systems saw sequential as well as year-over-year revenue growth.

Cameron’s valves and measurement group also saw sequential revenue improvement.

Orders and backlog strong total orders for the quarter were $2.44 billion, up from $2.24 billion a year ago, an increase of 9 percent.

“Orders for the second quarter were driven by our drilling, surface and valves businesses, and with a more robust outlook for North America and several deepwater projects expected to move forward in the second half, we expect to see a record level of backlog at year-end,” Moore said.

Cameron expects third quarter earnings from continuing operations to be in the range of $1.10 to $1.20 per diluted share excluding unusual items.


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