- Results Reflect Strong Operational Performance and Outperformance of 2025 Guidance
- Revenue of $10.0 billion for the year
- Backlog Reaches $18.2 billion
McDermott International has announced financial results for the fourth quarter and full year 2025.
For the three and twelve months ended December 31, 2025, revenue was $2.6 billion and $10 billion, respectively; adjusted EBITDA was $108 million and $428 million; and cash flow generated from operating activities was $372 million and $340 million. Backlog at year end was $18.2 billion.
'We exceeded our expectations for the year through strong project execution and consistent operational performance. Backlog quality improved and greater operating discipline was achieved across the portfolio,' said Michael McKelvy, Chief Executive Officer and Chair of the Board of McDermott. 'We are closely monitoring developments in the Middle East. While conditions remain fluid, our operations in the region continue, and we are confident in our ability to navigate the environment effectively. Looking ahead, we are focused on sustaining this momentum and delivering the 2026 plan with the same discipline and execution excellence.'
Source: McDermott
