McDermott Updates 2017 Guidance; Issues 2018 Guidance - Quick Facts

(RTTNews) - McDermott International, Inc. (MDR) announced, for fiscal 2017, the company now expects: income per share of $0.60- $0.63; and revenues of approximately $3.0 billion. In November, McDermott projected earnings per share to be approximately $0.53; and revenue to be approximately $3.0 billion. The company said it has updated full year guidance due to strong operational performance, cost savings and better than anticipated weather and change orders during the fourth quarter of 2017.

For fiscal 2018, McDermott expects: income per share of $0.42 - $0.52; and revenues of $3.1 - 3.3 billion. McDermott noted that the company is currently finalizing the assessment of the impact of the adoption of the new revenue recognition standard on its future consolidated financial statements and related disclosures.