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McDermott: 2Q Earnings Snapshot

July 29, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDR at https://www.zacks.com/ap/MDR

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