McDermott Guides FY19 In Line With View - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter and full-year 2018, McDermott International, Inc. (MDR) on Monday initiated earnings and revenue guidance for fiscal 2019, based on its current portfolio of businesses.

For fiscal 2019, the company now projects earnings in a range of $1.40 to $1.50 per share and adjusted earnings in the range of $1.65 to $1.75 per share. Revenues are projected between $9.5 billion and $10.5 billion.

On average, analysts' polled by Thomson Reuters expect the company to report earnings of $1.47 per share on revenues of $9.84 billion for the year. Analysts' estimates typically exclude special items.

Additionally, the company expects that its first quarter of 2019 is likely to be the softest quarter of the year and that operating performance in the second half of 2019 is likely to be stronger than the first half.

This will reflect the cumulative benefit of the execution of newly booked backlog, cost synergies under the Combination Profitability Initiative and an expected reduction in the negative cash flow associated with the three focus projects.
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