McDermott International Tops Q1 Street Views On EPS

McDermott International,a supplier of upstream oil-industry services and equipment, Tuesday reported Q1 earnings above Street view, missed on revenues, and raised 2017 guidance. McDermott shares were up over 8% in recent pre-market. The company reported adjusted Q1 EPS of $0.08, above the consensus for breakeven per-share as compiled by Capital IQ. A year earlier, McDermott reported EPS of $0.13.

McDermott reported Q1 revenues of $519.4 million, well below the $689.3 million Street view, and also below the $729.0 million reported a year earlier. In 2017 guidance, McDermott held revenues to prior at $3.2 billion, compared to Street view of $3.17 billion, but boosted outlook for EPS to $0.42 from $0.29, compared to Street view of $0.28.

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