TechnipFMC Announces First Quarter 2020 Results

Press release | April 22 2020

TechnipFMC Announces First Quarter 2020 Results

Backlog of $22 billion, $5.6 billion in cash and liquidity

Cost savings target increased and will now exceed $350 million

Executive salaries and Directors' retainer reduced up to 30% through year-end

Dividend distribution for 2020 reduced by 75% versus the prior year

Updated outlook reflects uncertainty related to COVID-19 and customer spend

U.S. GAAP diluted loss per share was $7.28

Includes total after-tax charges, net of credits, of $7.17 per diluted share, primarily driven by non-cash impairment charges

Adjusted diluted loss per share, excluding charges and credits, was $0.11

Includes foreign exchange losses of $0.10 per diluted share

Includes expense resulting from increased liability to joint venture partners of $0.08 per diluted share

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Apr. 22, 2020-- Regulatory News:

TechnipFMC plc (NYSE: FTI) (Paris: FTI) today reported first quarter 2020 results.

Summary Financial Statements - First 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)

March 31,

2020

March 31,

2019

Change

Revenue

$3,130.3

$2,913.0

7.5%

Net income (loss)

$(3,256.1)

$20.9

n/m

Diluted earnings (loss) per share

$(7.28)

$0.05

n/m

Adjusted EBITDA

$220.2

$295.8

(25.6%)

Adjusted EBITDA margin

7.0%

10.2%

(320 bps)

Adjusted net income (loss)

$(49.1)

$27.3

n/m

Adjusted diluted earnings (loss) per share

$(0.11)

$0.06

n/m

Inbound orders

$2,099.0

$6,184.5

(66.1%)

Backlog

$21,962.1

$17,777.6

23.5%

LINK:	https://www.technipfmc.com/en/media/press-releases/2020/04/technipfmc-...
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