The company’s financial health appears stable, with trailing twelve-month adjusted EBITDA climbing to $519 million. Despite these gains, the firm reported $76 million in cash flow used for operating activities during the quarter ending June 30. CEO Michael McKelvy attributed the results to disciplined project delivery and a sharpened strategic focus, noting that the performance has bolstered investor confidence during ongoing credit facility refinancing efforts.
McDermott Posts $41 Million Profit Amid Strong 2026 Quarter
McDermott International posted a $41 million net profit for the second quarter of 2026, outperforming its annual business plan as revenue reached $2.3 billion. The Houston-based engineering firm also reported a robust $15.8 billion backlog, signaling sustained demand for its energy infrastructure services through the remainder of the year.
Capital structure updates also marked the period, as the company moved to finalize a major rights offering. Preliminary data shows that approximately 97% of rights for Class A ordinary shares were exercised by the August 17 deadline. Management expects to conclude this offering alongside the broader refinancing deal in the third quarter of 2026. An earnings call to discuss these developments is scheduled for August 21.
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