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>

<< Nov 2019 >>
MTWTFSS
28 29 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

OTC ASIA 2020

The Offshore Technology Conference Asia (OTC Asia) is where energy professionals meet to exchange…

read more >

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.

More info

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >