TechnipFMC Announces Second Quarter 2019 Results

Press release | July 24 2019

TechnipFMC Announces Second Quarter 2019 Results LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- Regulatory News:

TechnipFMC plc (NYSE: FTI) (Paris: FTI) today reported second quarter 2019 results.

Total Company revenue was $3,434.2 million. Net income was $97 million, or $0.21 per diluted share. These results included after-tax charges and credits totaling $78.6 million of expense, or $0.18 per diluted share; adjusted diluted earnings per share were $0.39.

Adjusted EBITDA, which excludes pre-tax charges and credits, was $450 million; adjusted EBITDA margin was 13.1 percent (Exhibit 9).

Other significant pre-tax items impacting the quarter, for which we do not provide guidance, included the following:

$18 million of foreign exchange losses included in corporate expense, or $0.03 per diluted share on an after-tax basis; and

$140.2 million of increased liability payable to joint venture partners included in interest expense, or $0.31 per diluted share on an after-tax basis.

Summary Financial Statements - Second Quarter 2019

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,

2019

June 30,

2018

Change

Revenue

$3,434.2

$2,960.9

16.0%

Net income

$97.0

$105.7

(8.2%)

Diluted earnings per share

$0.21

$0.23

(8.7%)

Adjusted EBITDA

$450.0

$377.2

19.3%

Adjusted EBITDA margin

13.1

%

12.7

%

40 bps

Adjusted net income

$175.6

$131.8

33.2%

Adjusted diluted earnings per share

$0.39

$0.28

39.3%

Inbound orders

$11,179.6

$4,231.7

164.2%

Backlog

$25,781.9

$14,871.8

73.4%

LINK:	https://www.technipfmc.com/en/media/press-releases/2019/07/technipfmc-...
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