McDermott (MDR) Misses Q3 EPS by 9c

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Go back to McDermott (MDR) Misses Q3 EPS by 9c

McDermott Reports Third Quarter 2018 Financial and Operational Results

October 30, 2018 4:15 PM EDT

HOUSTON, Oct. 30, 2018 /PRNewswire/ -- McDermott International, Inc. (NYSE: MDR) ("McDermott", the "Company", "we" or "our") today reported revenues of $2.3 billion and net income of $2 million, or $0.01 per diluted share, for the third quarter of 2018. Results reflect solid execution across the portfolio of projects, partially offset by costs of $103 million related to intangibles amortization, the Combination Profitability Initiative ("CPI") and transaction costs associated with McDermott's combination with CB&I (the "Combination"). Net income in the quarter was also unfavorably impacted by higher than expected tax expense. The changes in... More