Exterran’s Fabrication Backlog Grows
Fourth Quarter EBITDA slips as revenues decline
Exterran Holdings Inc. said its fabrication bookings jumped to US$402.9 million in the fourth quarter of 2013, compared to US$276.2 million for the third quarter and US$284 million in the same period of 2012.
That brought the company’s fabrication backlog to US$679.9 million on Dec. 31, 2013, compared to US$619.4 million on Sept. 30, 2013 and US$1.065 billion on Dec. 31, 2012.
Exterran announced its earnings before interest, taxes, depreciation and amortization (EBITDA) were US$154.2 million for the fourth quarter, compared to US$157.3 million for the third quarter and US$140.3 million for the fourth period of 2012. Revenue was US$739 million, compared to US$775.6 million and US$837.1 million, respectively.
“In the fourth quarter, we had a solid operating performance as we grew operating horsepower in both of our North America and International contract operations businesses, increased bookings in our fabrication business, particularly in our Belleli Energy operations, and achieved a record quarterly level of gross margin in our aftermarket service business,” said Brad Childers, president and CEO.
“I believe we are on track to make further progress in improving the company’s performance in 2014, though similar to the last two years, first quarter revenues are expected to decline somewhat from fourth quarter levels,” he said.