Impairments drag McDermott into the red

U.S. offshore engineering and construction company McDermott reported a loss for the third quarter of 2019 compared to a profit in the same period last year mostly due to charges of $1.5 billion related to impairment. 

McDermott on Monday reported revenues of $2.1 billion, a net loss of $1.9 billion, and an operating loss of $1.7 billion for the third quarter of 2019.

In the third quarter 2018, McDermott reported revenues of $2.3 billion, a profit of $2 million, and an operating income of $129 million.

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