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McDermott: 2Q Earnings Snapshot

July 31, 2018

HOUSTON (AP) _ McDermott International Inc. (MDR) on Tuesday reported second-quarter earnings of $47 million.

On a per-share basis, the Houston-based company said it had net income of 33 cents. Earnings, adjusted for one-time gains and costs, came to 29 cents per share.

The maker of offshore drilling platforms posted revenue of $1.74 billion in the period.

McDermott expects full-year earnings in the range of 74 cents to 80 cents per share, with revenue in the range of $4.8 billion to $5.1 billion.

McDermott shares have dropped nearly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18, a fall of 11 percent in the last 12 months.


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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