The 2015 Engineering News Record ranking of the top 500
design firms is effectively a who’s who of the engineering and construction
industry’s best and brightest. Fluor Corp. (NYSE: FLR), a leading provider of
engineering, procurement and construction management (EPCM) services, claimed
its spot near the top of the list through five operating segments – including
oil and gas, industrial and infrastructure, government, global services and
power. Likewise, Chicago Bridge and Iron Company (NYSE: CBI) and KBR, Inc.
(NYSE: KBR) leveraged the viability of the energy market in order to claim
spots on the ENR ranking. Listed among these industry giants, ENGlobal
Corporation’s (NASDAQ: ENG) innovative, cost-effective approach to EPCM
services has helped it thrive in the engineering and construction markets for
over three decades.
Through its engineering segment, ENGlobal provides
consulting services for the development, management and execution of a variety
of construction projects. Over the years, the company has built a reputation
for its proficiency in the design of state-of-the-art plant automation systems,
as well as its unique ability to deliver complex midstream/downstream projects.
As a result, ENGlobal has entered into multiple alliance agreements with leading
industry clients, allowing it to achieve steady financial growth.
In the second quarter of 2015, the company successfully
translated this established industry position into strong financial results,
achieving its sixth consecutive quarter of profitability. Through its
engineering and construction segment, ENGlobal achieved an increase in gross
profit margin despite difficult market conditions resulting from oil prices
hovering near six-year lows. This consistent performance, along with a healthy
cash balance and working capital in excess of $25 million, is expected to drive
the company’s efforts to develop new business moving forward while its
management team also considers growth through strategic acquisition.
In support of its efforts to promote sustainable growth,
ENGlobal recently announced the addition of two key professionals to its
management team. John Offutt, the company’s new general manager of midstream
projects, and Robert Sammons, ENGlobal’s new general manager of automation
engineering, supplement the leadership team with more than 55 years of combined
industry experience.
For prospective shareholders, ENGlobal’s financial
performance despite slumping energy prices demonstrates the flexibility and
viability of its business model. Look for the company to build on these results
in the months to come as it attempts to capitalize on current market conditions
by securing new business and considering the implementation of an
acquisition-based growth strategy.
For more information, visit www.englobal.com
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