McDermott International, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Earnings Guidance for the Full Year of 2019; Announces Impairment for the Fourth Quarter Ended December 31, 2018
For the full year, the company reported revenues of $6,705 million against $2,985 million for the same period a year ago. Operating loss was $2,256 million against profit of $307 million for the same period a year ago. Net loss was $2,678 million against income of $178 million for the same period a year ago. Basic net loss per share attributable to common stockholders was $17.94 against income per share of $1.97 for the same period a year ago.
The company provided earnings guidance for the full year of 2019. For the year, the company expects revenues to be in the range of $9.5 billion to 10.5 billion, operating income to be in the range of $725 million to $775 million, net income to be in the range of $250 million to $275 million and diluted net income per share to be in the range of $1.40 to $1.50.
The company reported goodwill impairment of $2,168 million and impairment loss of $58 million for the fourth quarter ended December 31, 2018.