FMC Technologies, Inc. (NYSE:FTI) delivered a profit and missed Wall Street’s expectations, BUT 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 4.88% to $0.43 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Rose 17.86% to $1.65 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: FMC Technologies, Inc. reported adjusted EPS income of $0.43 per share. By that measure, the company missed the mean analyst estimate of $0.46. It beat the average revenue estimate of $1.59 billion.
Quoting Management: “We are pleased to report another quarter of strong subsea orders and revenue,” said John Gremp, Chairman and CEO of FMC Technologies. “Additionally, we are encouraged by the overall subsea industry awards this quarter and believe we are on pace for a record year.”
Key Stats (on next page)…
Revenue decreased 10.59% from $1.84 billion in the previous quarter. EPS decreased 24.56% from $0.57 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.55 to a profit $0.49. For the current year, the average estimate has moved down from a profit of $2.37 to a profit of $2.18 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)