TechnipFMC Announces Second Quarter 2020 Results

Press release | July 29 2020

TechnipFMC Announces Second Quarter 2020 Results

Strong execution despite the challenging environment in the quarter

Resilient backlog of $20.6 billion; $14.9 billion scheduled for 2021 and beyond

Net liquidity of $6.8 billion, an increase of $1.2 billion sequentially

On track to deliver targeted cost savings that exceed $350 million by year-end

Updated financial guidance for all segments; initiated free cash flow outlook

U.S. GAAP diluted earnings per share was $0.03

Includes total after-tax charges, net of credits, of $0.06 per diluted share

Adjusted diluted earnings per share, excluding charges and credits, was $0.09

Includes foreign exchange losses of $0.01 per diluted share

Includes expense resulting from increased liability to joint venture partners of $0.11 per diluted share

LONDRES & PARIS & HOUSTON--(BUSINESS WIRE)--Jul. 29, 2020-- Regulatory News:

TechnipFMC plc (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) today reported second quarter 2020 results.

Summary Financial Statements - Second Quarter 2020

Reconciliation of U.S. GAAP to non-GAAP financial measures are below and in financial schedules.

Three Months Ended

(In millions, except per share amounts)

June 30,

2020

June 30,

2019

Change

Revenue

$3,158.5

$3,434.2

(8.0%)

Net income

$11.7

$97.0

(87.9%)

Diluted earnings per share

$0.03

$0.21

(85.7%)

Adjusted EBITDA

$241.1

$450.0

(46.4%)

Adjusted EBITDA margin

7.6

%

13.1

%

(550 bps)

Adjusted net income

$42.2

$175.6

(76.0%)

Adjusted diluted earnings per share

$0.09

$0.39

(76.9%)

Inbound orders

$1,534.6

$11,179.6

(86.3%)

Backlog

$20,603.8

$25,781.9

(20.1%)

LINK:	https://www.technipfmc.com/en/media/press-releases/2020/07/technipfmc-...
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