McDermott International has posted its financial results for the fourth quarter and full year 2025.
For the three and twelve months ended December 31, 2025, revenue was US$2.6 billion and US$10 billion, respectively; adjusted gross operating profit was US$108 million and US$428 million; and cash flow generated from operating activities was US$372 million and US$340 million. Backlog at year end was US$18.2 billion.
"We exceeded our expectations for the year through strong project execution and consistent operational performance," said Michael McKelvy, Chief Executive Officer and Chair of the Board of McDermott. "Backlog quality improved and greater operating discipline was achieved across the portfolio."
McKelvy added that McDermott is 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."