Thursday, June 26, 2025
McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns - oil and gas 360

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns

Houston oilfield service company McDermott International posted another steep loss during the third quarter amid falling stock prices and cost overruns on multiple projects, including two liquefied natural gas plants near the Bayou City. In a Monday afternoon filing with the U.S. Securities and Exchange Commission, McDermott reported a nearly $1.9 billion loss on $2.1 billion of revenue during the