McDermott (MDR) Tops Q1 EPS by 12c, Miss on Revenues; Offers FY18 EPS Mid-Point Outlook Below Consensus, FY18 Revenue Mid-Point Outlook Above Consensus

McDermott (NYSE: MDR) reported Q1 EPS of $0.17, $0.12 better than the analyst estimate of $0.05. Revenue for the quarter came in at $607.8 million versus the consensus estimate of $618.39 million.

• Strong Start to 2018 Driven by One McDermott Way
• Revenue Opportunity Pipeline Grows to $25.0 Billion, with Bids and Change Orders Outstanding Increasing 70% to $7.5 Billion
• First Quarter Awards Include Contracts from BP and Saudi Aramco
• Financing for Proposed Combination with CB&I Achieves Key Milestone; Remains on Track to Close in May 2018

GUIDANCE:

McDermott sees FY2018 EPS of $0.42-$0.52, versus the consensus of $0.49. McDermott sees FY2018 revenue of $3.1-3.3 billion, versus the consensus of $3.15 billion.

For earnings history and earnings-related data on McDermott (MDR) click here.

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