FMC Technologies Earnings: Everything You Must Know Now
FMC Technologies, Inc. (NYSE:FTI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
FMC Technologies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.35% to $0.48 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Rose 14.25% to $1.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: FMC Technologies, Inc. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.47. It beat the average revenue estimate of $1.64 billion.
Quoting Management: “We are pleased to report our strongest quarter of subsea orders on record, which included Total’s Egina award and our second call off of the pre-salt tree award from Petrobras,” said John Gremp, Chairman and CEO of FMC Technologies. “Additionally, we are continuing to see the margins in our backlog improve and anticipate improvement in our Subsea Technologies results throughout the remainder of the year.”
Key Stats (on next page)…
Revenue increased 3.76% from $1.65 billion in the previous quarter. EPS increased 11.63% from $0.43 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.57 to a profit $0.58. For the current year, the average estimate is a profit of $2.18, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)