TechnipFMC Reports Q2 EPS at $0.35

TechnipFMC has reported second-quarter 2017 net income of $146.9 million and diluted earnings per share of $0.35.

Excluding charges and credits, adjusted diluted earnings per share were $0.45.

Total company operating profit was $439.6 million, with adjusted EBITDA at $501.3 million.

Revenues for the quarter were $3.84 billion, down form close to $5 billion on a pro forma basis same time last year. Order intake was $3.2 billion, of which subsea division order intake was $1.8 billion.

Subsea generated second-quarter revenues of $1.73 billion, a decline from $2.4 billion in Q2 2016 on pro forma basis.

Subsea delivered operating profit of $236 million. Adjusted EBITDA was $376.7 million. Subsea improved adjusted EBITDA margins to 21.8 percent, despite a 28 percent revenue decline and 7 percent of adjusted EBITDA from the prior-year quarter.

At the end of the second quarter 2017, the company’s backlog was $15.18 billion, including subsea backlog of $6.18 billion.

“We just passed our six-month anniversary as a new company, and our merger integration efforts are delivering results. We remain confident in our ability to reach our synergy targets. In addition, we are accelerating the development of unique technologies, as well as, identifying additional integrated offerings across our broad portfolio,” said Doug Pferdehirt, CEO of TechnipFMC.

The company confirmed it plans a quarterly dividend following third quarter 2017 results.

Subsea World News Staff

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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Europort 2019

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