Department of Energy cleanup contractor CH2M is scheduled to discuss its fourth-quarter 2016 results with investors at 10 a.m. EST Tuesday. The company also signaled the upcoming filings of its 10-K and 8-K forms with the U.S. Securities and Exchange Commission.
The company is in the midst of a restructuring that is expected to involve moving some managers to different offices and cutting about 3 percent of its global workforce of roughly 22,000.
In the third quarter, CH2M reported revenue of $1.28 billion, down 6 percent year over year from $1.37 billion in 2015. Net income landed at $16 million, or $0.40 per diluted share, assisted by a $46 million tax benefit connected to a pension plan revision. Still, that was a steep drop from $39 million in net income, $1.22 per diluted share, in third-quarter 2015.
CH2M is the parent company of CH2M Hill Plateau Remediation Co., charged with major cleanup project in the plateau area of the DOE’s Hanford Site under a 10-year contract worth about $6 billion. Its other operations across the DOE complex include partnering with AECOM for cleanup of the Oak Ridge Site in Tennessee and the CH2M Hill BWXT West Valley partnership that handles cleanup of the West Valley Demonstration Project in upstate New York.
