TechnipFMC: accounting error burden.
(CercleFinance.com) - Blow to TechnipFMC as its share price plunges by more than 8%, the biggest fall in the flagship index, following the announcement of a calculation error in its first-quarter results (closed at the end of March).
The net profit of the oil and gas group has been increased to 209.5 million dollars, or 45 cents per share. TechnipFMC had announced a positive net result of 190.8 million dollars at the end of April, or 41 cents per share. The earnings per share (EPS) had come to 71 cents on an adjusted basis.
The company claimed this was down to a wrong calculation linked to exchange rates.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The net profit of the oil and gas group has been increased to 209.5 million dollars, or 45 cents per share. TechnipFMC had announced a positive net result of 190.8 million dollars at the end of April, or 41 cents per share. The earnings per share (EPS) had come to 71 cents on an adjusted basis.
The company claimed this was down to a wrong calculation linked to exchange rates.
Copyright (c) 2017 CercleFinance.com. All rights reserved.