TechnipFMC plc has reported Q3 2017 results.
Total company net income was US$121 million. Total company revenue of US$4140.9 million was down 17.8% from the same quarter in the prior year, with adjusted EBITDA margin declining 100 basis points.
Adjusted EBITDA, which excludes charges and credits, was US$536.2 million, a decrease of 23.3% from the prior year; adjusted EBITDA margin was 12.9%.
Diluted earnings per share were US$0.26, which includes total company pre-tax charges and credits of US$101.3 million, or US$0.13 per diluted share as detailed in the financial schedules below. Adjusted diluted earnings per share were US$0.39.
The company’s Board of Directors has authorised and declared an initial quarterly cash dividend of US$0.13 per ordinary share.
Doug Pferdehirt, CEO of TechnipFMC, stated, “Our third quarter results demonstrated another solid operational performance in all segments. We continued to deliver strong project execution in our onshore/offshore and Subsea segments, as we achieved several key milestones. Our Surface Technologies segment benefited from increased activity in the North American market, primarily driven by higher demand for our well completion services.”
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