McDermott (MDR) Says Cameron LNG Project to Adversely Impact Results
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McDermott Offers Comment on Cameron LNG Project
February 13, 2019 8:32 AM ESTHOUSTON, Feb. 13, 2019 /PRNewswire/ --Â McDermott International, Inc. (NYSE: MDR) today commented on its assessment of the financial position of the Cameron LNG project as of the end of the fourth quarter of 2018.
McDermott's comment follows the release on February 13, 2019, of quarterly financial results by Chiyoda Corporation, a member of the joint venture, along with McDermott, working on the project. For the fourth quarter of 2018, McDermott expects to report an adverse change in estimate of approximately $168 million, due to unfavorable labor productivity, and increases in subcontract, commissioning and construction... More
