McDermott +2.7% as Q2 earnings top estimates, announces Pemex contract [Seeking Alpha]
MCDERMOTT INTL (MDR)
Last mcdermott intl earnings: 11/4 04:15 pm
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US:NYSE Investor Relations:
mcdermott-investors.com/phoenix.zhtml?c=96360&p=irol-calendar_pf
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Source: Seeking Alpha
McDermott (NYSE: MDR ) after-hours as it reports better than expected Q2 earnings , while revenues missed expectations but more than doubled to $1.73B. MDR says its revenue opportunity pipeline at the end of Q2 totaled $78.5B, comprised of backlog of $10.2B, bids and change orders outstanding of $19B and target projects of $49.3B. Q2 adjusted operating income margin was 9.9%, aided by strong margin performance in the APAC, MENA and technology segments. For H2 2018, MDR forecasts adjusted EPS of $0.74-$0.80 vs. $0.80 analyst consensus estimate, and revenues of $4.8B-$5.1B vs. $5.1B consensus. Also, MDR announces a sizeable contract award by Pemex for subsea pipeline flowline installation in support of the Ayatsil field in the Bay of Campeche offshore Mexico; the scope of work includes design and detailed engineering, procurement, construction and installation of two subsea pipelines. See all stocks on the move » Now read: Turquiose Hill Resources bea
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