US big brand Cameron has reported record Q1 revenues of $2.4billion, up 18% from $2.1 billion a year ago.
The year-over-year revenue increase was due to gains in the drilling and production systems side of the group.
Total orders for the quarter were $2.5billion and represented the second best first quarter results in the company’s history.
Cameron’s backlog at the end of the first quarter was $11.3billion, down slightly from its historical high of $11.4billion at the end of 2013.
The ending first quarter backlog reflects the cancellation of the STX deep-water rig order during the quarter. First quarter backlog is up 13% from prior year levels.
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