Houston-based EPCI contractor McDermott recorded an increase in both profit and revenues for the first quarter of 2018, which, if all goes according to plan, will be McDermott’s last full quarter as a separate company before it merges with CB&I.
McDermott, which recently rejected a takeover offer by Subsea 7, on Tuesday posted its first quarter 2018 earnings attributable to McDermott stockholders of $35.2 million compared to $21.9 million for the prior-year first quarter.
McDermott’s first quarter 2018 revenues totaled $607.8 million, an increase of $88.4 million, compared to revenues of $519.4 million for the prior-year first quarter.
Brazil Energy Insight 
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