TechnipFMC: results struggle to recover
(CercleFinance.com) - TechnipFMC shares are one of the biggest fallers in the SBF 120 index on Thursday after the publication of quarterly results that showed a fall in business and losses that remain significant.
This morning the oilfield services group reported a 9% drop in Q3 revenues to under 1.6 billion dollars.
At the bottom line, the group made a net loss of 40.6 million dollars, or nine dollars per share, compared with 64.7 million dollars (or 14 cents per share) a year earlier.
Adjusted Ebitda - which excludes pre-tax charges and credits - was up 16% at 140.6 million dollars.
At end-September, TechnipFMC's backlog was around seven billion dollars, down 7.7%.
The absence of annual forecasts in the press release also seemed to worry investors. At 10.10am, the stock was down 4%, while the SBF 120 was down only 0.4%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
This morning the oilfield services group reported a 9% drop in Q3 revenues to under 1.6 billion dollars.
At the bottom line, the group made a net loss of 40.6 million dollars, or nine dollars per share, compared with 64.7 million dollars (or 14 cents per share) a year earlier.
Adjusted Ebitda - which excludes pre-tax charges and credits - was up 16% at 140.6 million dollars.
At end-September, TechnipFMC's backlog was around seven billion dollars, down 7.7%.
The absence of annual forecasts in the press release also seemed to worry investors. At 10.10am, the stock was down 4%, while the SBF 120 was down only 0.4%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.