McDermott Reports Strong Third Quarter 2025 Results with Growth in Backlog and Revenues

McDermott Reports Third Quarter 2025 Results

On November 10, 2025, McDermott International, Ltd announced its robust financial performance for the third quarter of 2025, showcasing a positive trajectory in both revenue and project backlog. With a revenue of $2.7 billion in Q3 and a year-to-date total of $7.4 billion, the company highlighted its strategic operational management and effective cost control as key drivers of its success.

Michael McKelvy, the Chair and CEO of McDermott, commented on the results, stating, "We delivered another quarter of solid operational execution, disciplined cost control, and healthy backlog growth." He emphasized that McDermott's adaptive strategies enable the company to navigate the evolving energy markets effectively, ensuring sustainable performance and long-term value creation through integrated solutions and successful project execution.

As of the end of September 2025, McDermott's backlog reached an impressive $17.5 billion, indicating a robust pipeline of ongoing projects. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at $152 million, while the nine-month figure was reported at $319 million. Additionally, the cash flow from operating activities showed a negative figure of $146 million for Q3 and a more stable $32 million for the first nine months of the year.

The consistent growth in backlog is a testament to McDermott's solid market positioning and operational efficiency. The company's global reach, supported by a workforce of over 30,000 employees and a diverse fleet of marine construction vessels, places McDermott in an advantageous position to fulfill the growing demands of the energy sector.

The letter referred to McDermott's commitment to sustainability and innovation in its approaches to engineering and construction solutions. Operating in more than 30 countries worldwide, McDermott aims to responsibly harness energy resources to meet global energy needs.

Alongside these results, McDermott maintains transparency with investors and stakeholders through its public disclosures. All financial statements and supplementary information, including reconciliations between GAAP and non-GAAP measures, are readily available on the company’s investor relations website. This reinforces McDermott's commitment to open communication regarding its performance and strategic direction.

Looking ahead, McDermott's management cautioned that forward-looking statements, while optimistic, are subject to various risks and uncertainties inherent to the energy sector. Potential fluctuations in the market, changes in project designs, and other external factors could influence future results. Nevertheless, McDermott's leadership believes that their experience and strategic plans strategically position them to manage these challenges effectively.

Overall, McDermott's impressive Q3 results reflect not only its operational strength but also its dedication to helping shape the future of the energy industry through innovative practices. The company continues to strive for excellence as it plays a significant role in transforming global energy resources into sustainable solutions for the benefit of societies worldwide.