Cameron International Revenue Up 24% (CAM)

Cameron International Corporation CAM announced on Tuesday morning that it beat consensus Wall Street earnings estimates, while missing revenue expectations. Cameron International Corporation reported that its 3rd quarter net income rose to $148.7 million, or 61 cents per share, up from $124.9 million, or 56 cents per share, a year earlier. Excluding special items, the company's earnings came in at 64 cents per share. Total revenues climbed 24% to $1.53 billion, up from $1.23 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 60 cents per share, on revenue of $1.57 billion. President and chief executive officer Jack B. Moore said, "While we did see improvement in a number of our businesses, overall margins declined in the third quarter and are expected to trough in the fourth quarter." Moore added that "Cameron's fourth quarter earnings, excluding any charges or gains, are expected to be in the range of approximately $0.65 to $0.67 per share, resulting in full-year earnings of approximately $2.38 to $2.40, excluding charges." Cameron International Corporation (CAM) closed the previous trading day at $43.89 per share. Analysts covering the company's stock give it a consensus price target of $50.27 per share. Read more from Benzinga's Company news.