McDermott +4% as revenues, backlog soar [Seeking Alpha]
MCDERMOTT INTL (MDR)
Last mcdermott intl earnings: 11/4 04:15 pm
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Source: Seeking Alpha
McDermott +4% as revenues, backlog soar - McDermott International, Inc. (NYSE:MDR) | Seeking Alpha Energy | Earnings On the Move McDermott +4% as revenues, backlog soar Apr. 29, 2019 7:59 AM ET McDermott International, Inc. (MDR) Carl Surran McDermott International (NYSE: Q1 results On an unadjusted basis, MDR posted a loss of $70M, or $0.39/share, largely the result of restructuring and integration costs. MDR says it won $6.7B in new awards during the quarter, with a 41% Y/Y increase in backlog to $15.4B. MDR issues in-line guidance for FY 2019 revenues at ~$10B, vs. $9.96B analyst consensus estimate. The company expects H2 operating performance to exceed H1, reflecting higher revenues, execution of recently booked backlog, higher utilization and cost synergies under the CPI. MDR also says it recently completed the final offshore campaign This was the second of two remaining work packages left under MDR's contract, which was the largest subsea contract ever awarded at the time. +4.
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