McDermott (MDR) reported earnings Mon 9 Nov 2015 (after close)

** charts before earnings **

 ** charts after earnings **

 McDermott beats by $0.14, beats on revs:

• Reports Q3 (Sep) earnings of $0.09 per share, excluding non-recurring items,$0.14 better than the Capital IQ Consensus of ($0.05); revenues rose 94.4% year/year to $805.9 mln vs the $753.44 mln Capital IQ Consensus.

Contract backlog:

• As of September 30, 2015, the Company's backlog was $4.4 billion, compared to $3.1 billion at June 30, 2015. Of the September 30, 2015 backlog, ~73% is related to offshore operations and ~27% is related to subsea operations. Order intake in the third quarter 2015 totaled $2.1 billion and included the new LTA lump sum award from Saudi Aramco and two awards in Qatar.