TechnipFMC Boosts Backlog

TechnipFMC has reported second-quarter 2019 profit of $97 million or 21 cents per diluted share.

The services major has seen a 8 percent decrease compared to net profit of $106 million same time last year. The results were affected by after-tax charges and credits totaling $78.6 million of expense, or $0.18 per diluted share.

Other charges included foreign exchange losses of $0.3 per diluted share and increased liability payable to joint venture partners of $0.31 per diluted share.

Adjusted earnings per share for the quarter was 39 cents, up 39 percent versus Q2 2018.

Revenues for the quarter were up close to 16 percent at $3.43 billion, form $2.96 billion in the prior-year comparable period.

TechnipFMC has secured record quarterly order intake of $11.2 billion, up from $4.2 billion (subsea division generated $2.6 billion).

Subsea reported second quarter revenue of $1.5 billion, up 23 percent compared to the corresponding period in 2018. Full-year revenue guidance for subsea division has changed and it’s expected to be in a range of $5.6 – 5.8 billion.

Vessel utilization rate for the second quarter was 69 percent, up from 55 percent in the first quarter, but down from 71 percent in the prior-year quarter.

At the end of the second quarter 2019, TechnipFMC backlog was $25.8 billion ($14.9 billion in Q2 2018), including subsea backlog of $8.7 billion.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

9th Annual Submarine Power Cable and Interconnection Forum

This year’s Advance Submarine Power Cable and Interconnection conference will focus on the cutting edge thinking that is emerging across…

read more >

The 24th Annual PNEC Conference & Exhibition

The 24th annual PNEC Conference and Exhibition  will bring together the industry thought leaders and technology providers that enable the management…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >