Post-Earnings Report - McDermott International

LONDON, March 31, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free post-earnings report on McDermott International Inc. (NYSE: MDR). On March 02, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=McDermott%20Intl.&d=31-Mar-2015&s=MDR to read our free earnings review on McDermott International Inc. (McDermott). The company's revenues came in at $806.40 million for Q4 FY14 and $2.30 billion for FY14. President and CEO of the company, David Dickson, stated that McDermott is in a much stronger position today, compared to a year ago, as a result of its turnaround efforts. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=McDermott%20Intl.&d=31-Mar-2015&s=MDR

Earnings Overview 

During Q4 FY14, McDermott's revenues increased by $289.06 million from $517.34 million in Q4 FY13. The company's revenues for Q4 FY14 outperformed Bloomberg analysts' forecast of $715.70 million. The company's operating income was $25.95 million in Q4 FY14 compared to an operating loss of $317.90 million in Q4 FY13. Furthermore, McDermott's Q4 FY14 operating income included $1.7 million of asset impairment and $6.0 million of restructuring expenses, while Q4 FY13 operating income encompassed $84.48 million of asset impairments and $16.23 million of restructuring expenses. Free research on MDR can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=McDermott%20Intl.&d=31-Mar-2015&s=MDR

For Q4 FY14, net income attributable to McDermott stood at $8.18 million, or $0.03 per diluted share, compared to net loss attributable to McDermott of $326.24 million, or $1.38 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected net loss attributable to McDermott of $11.17 million, or $0.05 per diluted share, in Q4 FY14. Additionally, McDermott reported cash flow from operations of $119.3 million in Q4 FY14 compared to a net use of cash of $88.5 million in Q4 FY13.

For FY14, McDermott's revenues decreased by $358.04 million from $2.66 billion in FY13. The company's revenues outperformed Bloomberg analysts' forecast of $2.21 billion for FY14. Additionally, McDermott's operating income was $8.55 million during FY14 compared to an operating loss of $456.75 million in FY13. Moreover, the company's FY14 operating income included $46.20 million of gains on asset sales and $18.11 million of restructuring expenses, while FY13 operating income comprised of $84.48 million of asset impairments and $35.73 million of restructuring expenses.

During FY14, net loss attributable to McDermott narrowed down to $75.99 million, or $0.32 per diluted share, compared to net loss attributable to McDermott of $508.87 million, or $2.15 per diluted share, in FY13. Analysts from Bloomberg had expected net loss attributable to McDermott of $112.69 million, or $0.45 per diluted share, in FY14. Further, McDermott's cash flow from operations was $6.96 million in FY14, compared to a net use of cash of $256.61 million in FY13. Sign up and read the free analyst's notes on MDR at:

http://get.Investor-Edge.com/pdf/?c=McDermott%20Intl.&d=31-Mar-2015&s=MDR

Mr. David Dickson informed that the company's new partnerships with two industry leaders represent part of McDermott's overall growth strategy. He said that in January, the company formed io oil & gas™ consulting with GE Oil & Gas. Additionally, in February, the company announced a strategic alliance with Petrofac to combine McDermott's complementary capabilities to deliver large integrated EPCI subsea projects with Petrofac's new high-end SURF, ultra-deepwater pipelay and ultra-heavy lift vessel, the JSD 6000, he added.

For FY15, McDermott's expects revenues to be in the range of $3.3 billion to $3.6 billion. The company also anticipates FY15 operating income to be in the range of $25 million to $50 million, including expected restructuring charges in the range of $25 million to $35 million.

Stock Performance 

On the day following the earnings release, March 03, 2015, McDermott's stock rallied 27.59% to end the session at $3.33. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Monday, March 30, 2015, the company's shares finished 4.13% higher at $3.78, after vacillating between $3.62 and $3.78. A total of 4.36 million shares were traded which was below their three months average volume of 5.46 million shares. The stock has fallen by 0.79% in the previous three trading sessions. However, over the last one month and over the past three months, the company's shares have rallied 51.20% and 29.01%, respectively. Shares in McDermott are trading above their 50-day moving average of $2.83. Furthermore, the stock has a Relative Strength Index (RSI) of 63.37. Visit Investor-Edge and access the latest research on MDR at:

http://get.Investor-Edge.com/pdf/?c=McDermott%20Intl.&d=31-Mar-2015&s=MDR

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 19 corporate insider transactions made by 8 individuals. On March 05, 2015 and March 06, 2015, a total of 108,011 shares have been disposed at an average price of $3.34 per share with the transactions amounting to a total value of $360,512. The following are some of the aforesaid transactions: Scott V. Cummins, Senior Vice President, Commercial at McDermott, sold 28,686 shares at an average price of $3.35 per share; Liane K. Hinrichs, Senior Vice President, General Counsel and Corporate Secretary at McDermott, disposed 23,762 shares at an average price of $3.36 per share; and on March 06, 2015, David Dickson sold 27,747 shares at an average price of $3.32 per share. Complimentary in-depth research on MDR is available at:

http://get.Investor-Edge.com/pdf/?c=McDermott%20Intl.&d=31-Mar-2015&s=MDR

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