McDermott International (MDR) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.13 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.02. The company posted revenue of $729.00 million in the period, compared to analysts expectations of $700.70 million. The company’s revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.
Many Wall Street Analysts have commented on McDermott International. McDermott International was Downgraded by Credit Suisse to ” Neutral” on Apr 4, 2016. McDermott International was Upgraded by Scotia Howard Weil to ” Sector Outperform” on Mar 28, 2016.
McDermott International opened for trading at $4.15 and hit $4.34 on the upside on Wednesday, eventually ending the session at $4.16, with a gain of 0.24% or 0.01 points. The heightened volatility saw the trading volume jump to 18,31,969 shares. Company has a market cap of $994 M.
McDermott International Inc. is an engineering procurement construction and installation (EPCI) company focused on designing and executing offshore oil and gas projects across the world. The Companys operating segments include Asia Pacific Americas Middle East and North Sea and Africa. The Asia Pacific segment serves customers in Australia Indonesia Vietnam Malaysia Thailand and India. The Americas segment serves customers in the United States Brazil Mexico Trinidad and Africa. The Middle East segment includes its North Sea and Africa operations which serves customers in Saudi Arabia Qatar the United Arab Emirates (U.A.E.) Kuwait India Azerbaijan Russia the North Sea and Africa. It delivers fixed and floating production facilities pipeline installations and subsea systems from concept to commissioning. Its customers include national integrated and other oil and gas companies and it operates in offshore oil and gas producing regions throughout the world.