TechnipFMC: stock down 8%; heavy loss in Q4 2018
(CercleFinance.com) - As the sharpest faller in the CAC 40 today, the TechnipFMC share is down nearly 8% this morning in Paris, after the announcement of a heavy loss in Q4 2018, a period during which the group's sales have continued to fall.
However, the group has confirmed most of its forecasts for 2019.
Q4 ended with sales down nearly 10% at 3.3 billion dollars, meaning full-year sales of 12.5 billion dollars (-16.6%).
From accounts in the black in Q3, they fell into the red in Q4, with a reported net loss of 2.2 billion dollars, due to charges and credits after tax, including depreciation and restructuring costs.
Over FY 2018, TechnipFMC reported a reported net loss of 1.9 billion dollars (-4.20 dollars per share), compared to a profit of 113.3 million euros in 2017. Adjusted earnings dropped by 37.5% to 377.1 million dollars (0.82 dollar per share).
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However, the group has confirmed most of its forecasts for 2019.
Q4 ended with sales down nearly 10% at 3.3 billion dollars, meaning full-year sales of 12.5 billion dollars (-16.6%).
From accounts in the black in Q3, they fell into the red in Q4, with a reported net loss of 2.2 billion dollars, due to charges and credits after tax, including depreciation and restructuring costs.
Over FY 2018, TechnipFMC reported a reported net loss of 1.9 billion dollars (-4.20 dollars per share), compared to a profit of 113.3 million euros in 2017. Adjusted earnings dropped by 37.5% to 377.1 million dollars (0.82 dollar per share).
Copyright (c) 2019 CercleFinance.com. All rights reserved.