CH2M Hill Sharply Lowers Share Price Amid Poor Q3 Results

CH2M Hill earlier this week dropped its share price by more than 20 percent, to $45.93 per share, from a price set in mid-August of $60.20 per share. The drop, which resulted in CH2M Hill’s lowest share price since February 2012, came as the company also announced a net loss of $131 million for the third quarter of 2014. “The third quarter of 2014 presented significant financial challenges,” CH2M Hill said in a statement. “While several of CH2M HILL’s business units posted strong project and financial results, the company’s overall performance was negatively affected primarily by three large Engineer-Procure-Construct (EPC) projects.” CH2M Hill went on to say, “The company is taking aggressive action to limit these losses while enhancing its strong position serving clients in its core markets,” and stressed that it is “positioned to return to profitable financial performance in 2015 and beyond.” CH2M Hill’s stock is not publicly traded, but instead is traded on an internal market the company has maintained since 2000 for trading by employees and other eligible stockholders.