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McDermott International Inc. Message Board

  • lexicfo lexicfo Aug 6, 2013 10:59 AM Flag

    Listening to the call

    These guys sound motivated today, but what how are they going to feel tomorrow... Feels like they were asleep at the wheel. I wonder what Board conversations are ongoing!

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    • this call is really distressing. This one lady on the call (european) focused her questions on liquidation value.
      This was pretty blunt.
      I don't know what to think here. Either they execute and pull themselves out of this hole, or the inertia of all this bad backlog sinks the company into a dire situation.
      the CEO talked extensively about the new rigor of future bidding which is what you want to hear, but what seems to bother the analysts on the call is how damaging the current and signed backlog projects will be to the next several quarters and beyond.
      Johnson Rice seemed concerned about their liquidity situation as it relates to capex demands.

      Unless I've misinterpreted what was said, the situation McDermott finds themselves in is very troubling.

      So for now, I will not be adding shares here

      If anyone has anything substantive to add, let's discuss. But what I don't want to hear is uniformed blather about how cheap McDermott's share price is and what a bargain there is to be had.

      Sentiment: Hold

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