McDermott posts $2.8 billion loss due to impairment charges

U.S.-based engineering, procurement, construction, and installation company McDermott International reported a large loss for the fourth quarter of 2018 due to a $2.2 billion impairment.

McDermott on Monday reported revenues of $2.1 billion and net loss of $2.8 billion for the fourth quarter of 2018. In the fourth quarter 2017, McDermott’s revenues totaled $718 million and its profit totaled $26 million.

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