Chicago Bridge & Iron ( CBI - Free Report) , a Zacks Ranked #5 (Strong Sell) designs, builds, repairs, and modifies steel tanks and other steel plate structures and associated systems. The Company designs and builds petroleum terminals, refinery pressure vessels, low temperature and cryogenic storage facilities and elevated water storage tanks for clients internationally. Recent Earnings Report The company recently reported Q2 2017 earnings where they significantly missed both the Zacks consensus earnings ($0.85 estimate vs. -$2.96 actual), and revenue ($2.44 billion estimate vs. $1.283 billion actual) estimates. The company saw revenues decline year over year (YoY) by -41%, reported a net loss of $304.1 million compared to a net gain of $115.6 million in Q2 16, net awards fell by -15.4% YoY, and backlogs were reduced by -7.5% YoY. Due to the poor performance management has suspended their dividend payments, begun a $100 million dollar cost reduction program, and is in the process of attempting to sell their Technology business. Further, due to the issues facing the company management reduced their second half revenue guidance to a range between $3.7 and $4.0 billion and diluted earnings per share in the range of $1.00 to $1.25. Management’s Take According to Patrick K. Mullen, President and CEO, “ Although our second quarter results are disappointing, we are taking decisive actions to improve our operating performance and strengthen the company's financial position. We have initiated a comprehensive cost reduction program and suspended our dividend. We are injecting additional rigor and discipline into our execution and risk management processes, further strengthening the integration between our E&C and Fabrication Services operating groups, and accelerating the implementation of innovative practices and technologies. We remain committed to our integrated self-perform model, which we believe will enable us to generate attractive earnings and cash flows over time.” Price and Earnings Consensus Graph As you can see in the graph below, the stock price and future earnings estimates have declined after this recent earnings report.