McDermott: 2Q Earnings Snapshot
HOUSTON (AP) _ McDermott International Inc. (MDR) on Monday reported a second-quarter loss of $132 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of 80 cents per share. Losses, adjusted for non-recurring costs and restructuring costs, came to 7 cents per share.
The maker of offshore drilling platforms posted revenue of $2.14 billion in the period.
McDermott expects a full-year loss of 32 cents per share, with revenue expected to be $9.5 billion.
McDermott shares have increased 54% since the beginning of the year. In the final minutes of trading on Monday, shares hit $10.08, a drop of 43% in the last 12 months.