Earnings Per Share Growth
EPS grew by 8%, operating margins expanded by 120 basis points to 30.1%, and maintained industry-leading ROC at 25.7%.
Backlog and Future Growth
The quarter ended with a strong backlog of $10 billion, with more than $7 billion in sale of gas projects, underpinned by long-term contracts.
Capital Management and Shareholder Returns
Operating cash flow increased by 11% to $2.2 billion. The annual dividend was raised by 8%, marking 32 straight years of dividend growth. $1.1 billion of stock was repurchased.
Project Wins and Pipeline
New project wins, including in South Korea with Samsung, and expectations of continued project announcements in the electronics sector.