Volatility in the Short Term could lead to Rewards in the Long Run: McDermott International Analyst Brief Report Issued by BrokerBank Securities, Inc.
NEW YORK, March 12, 2015 /PRNewswire/ -- McDermott International Inc. (NYSE: MDR) based in Houston, TX, a leader in offshore infrastructure solutions to drilling services for the oil sector recently announced its 2014 Q4 earnings. McDermott showed a 56% jump in revenues compared to 2013 Q4, a 6.5% decrease in total costs from the year-ago quarter and a better than anticipated $0.32 loss per share following one of the worst six month periods for the oil price.
Oil price has recently rallied to 2015 highs, though this is believed to be short-lived. The oil and gas sector has experienced some life recently; however it is believed that oil price will continue to decline resulting from oversupply and continued production by OPEC and other oil producing countries. Until the oil price recovers, the energy sector will continue to post losses.
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This report was prepared for informational purposes only. Affiliated parties involved with producing and issuing this report have not been compensated by the profiled company in any form. A full disclaimer can be found by viewing the full analyst report.
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