Technology Magan

Latest Technology News, technology blog, technology information, tech news, business news, cricket news, sports, lifestyle, Entertainment.


Monday, February 25, 2019

McDermott Slides After Surprise Loss Deflates Shares

International  News

McDermott International Inc. 

McDermott Slides After Surprise Loss Deflates Shares

Shares of McDermott International Inc. (MDR - Get Report) slipped Monday after the company posted quarter-quarter results that missed analysts' estimates.

The stock rose initially in premarket trading before falling 8.79% to $ 7.06 in premarket trading.

McDermott reported an adjusted loss of $ 1.55 per share, poorly lost Wall Street's expectancy for 17 cents Revenue was $ 2.07 billion, missing analysts' estimates of $ 2.64 billion

"Our results for the fourth quarter of 2018 were marked by several significant non-recurring charges, including those related to goodwill and deferred tax assets," said David Dickson, President and Chief Executive Officer. performance operating our "Additionally, is unfavorably affected by a change in estimation on the Calpine gas turbine project, the previously announced change in estimation on the Cameron LNG project and many other discrete operating items as listed below."

The $ 1.4 billion market cap construction and engineering company, however, provided strong guidance. Full year 2019 adjusted EPS is expected to be $ 1.65 to $ 1.75, against estimates of $ 1.47 Revenue was $ 9.5 billion to $ 10.5 billion vs.estimates of $ 9.8 billion.

The stock market has fallen 66% in the past year.

No comments:

Post a Comment

Random Posts


El proyecto AMP es una iniciativa de código abierto que busca mejorar la web para todos. El proyecto permite la creación de sitios web y anuncios consistentemente rápidos, bellos y de alto rendimiento en dispositivos y plataformas de distribución. ha creado sitios exclusivos en el formato Amp HTML (Accelerated Mobile Pages Project). Creemos el conocimiento debe ser distribuido gratuitamente a todos los usuarios de la red.