First quarterly results for TechnipFMC (in US GAAP). EBITDA was at $684m, beating consensus. Net income, at $191m, was also above expectations but includes a $204m “corporate income” thanks to FX gains. The group received $1.6bn of new orders (o/w Subsea $66m, Onshore/Offshore $682m and Surface Technologies $242m). The company proposed a $500m share repurchase programme by the end of 2018.
27 Apr 2017
Subsea margin resilience; Onshore/Offshore gets milestone boost
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Subsea margin resilience; Onshore/Offshore gets milestone boost
First quarterly results for TechnipFMC (in US GAAP). EBITDA was at $684m, beating consensus. Net income, at $191m, was also above expectations but includes a $204m “corporate income” thanks to FX gains. The group received $1.6bn of new orders (o/w Subsea $66m, Onshore/Offshore $682m and Surface Technologies $242m). The company proposed a $500m share repurchase programme by the end of 2018.