McDermott International: Going For A Double, Maybe A Triple [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 International: Going For A Double, Maybe A Triple Summary McDermott has established itself as a major player in the LNG construction business. Charges from legacy CBI projects have weakened investor confidence in the company in recent months, leading to a ~70% decline in its stock price. We think we have seen the bottom in MDR, and at current levels, it presents a reasonable risk/reward scenario. Introduction I have been planning to devote an article to McDermott International (NYSE: Sometimes it's better to be lucky than good (an expression I seem to use fairly often)! Source MDR has hitched its star to the burgeoning LNG plant construction wave that is ongoing, and has had some success in this arena. Securing contracts from BP (NYSE: EPIC contract picked up XOM This is a high-stakes/high-margin type work and form one albeit central leg of the thesis to own MDR. A comment from David Dickson, President and CEO of MDR, from the quarterly report: LNG cycle is here and continu
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