NEW YORK (TheStreet) -- Shares of McDermott International (MDR) - Get Report are jumping 9.41% to $2.79 in early afternoon trading on Tuesday after the Houston-based company posted its 2015 fourth quarter results.
After yesterday's closing bell, the offshore drilling platform maker reported adjusted earnings of 6 cents per diluted share, which topped analysts' expectations for a loss of 11 cents.
Revenue for the period was $667.4 million, missing Wall Street's estimates of $767.7 million.
"The company has been significantly strengthened, not only in terms of backlog and operating income, but also in terms of its capabilities and its competencies in an extremely challenging market," President and CEO David Dickson said in a statement.
For the full year, McDermott forecast revenue of $2.9 billion.
McDermott is an engineering, procurement, construction and installation company focused on designing and executing offshore oil and gas projects.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by a few notable weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MDR