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Dec 31, 2019
TechnipFMC Q4 2019 Earnings Report
TechnipFMC reported mixed Q4 2019 results with revenue increase but a net loss, offset by adjusted earnings per share
Key Takeaways
TechnipFMC's Q4 2019 results revealed a revenue increase of 12.2% year-over-year, reaching $3,726.8 million. However, the company reported a net loss of $2,414 million, or $5.40 per diluted share, including after-tax charges and credits of $2,429.1 million. Adjusted net income was $15.1 million, or $0.03 per diluted share.
Subsea orders increased by 54% versus 2018.
Onshore/Offshore orders increased by 76% versus 2018.
Total Company backlog increased by 67% versus 2018, reaching $24.3 billion.
Adjusted diluted earnings per share, excluding charges and credits, was $0.03.
Revenue by Segment
Forward Guidance
TechnipFMC provided financial guidance for 2020, including revenue ranges and EBITDA margin expectations for its Subsea, Onshore/Offshore, and Surface Technologies segments.
Positive Outlook
- Anticipate ongoing momentum in activity for small- to mid-sized brownfield projects and a continued healthy outlook for greenfield projects in the subsea market.
- Expect double-digit revenue growth in Subsea Services.
- Confident that additional LNG projects will be sanctioned in the near-to-intermediate-term.
- Anticipate double-digit revenue growth outside North America in Surface Technologies.
- Significant growth in backlog across all segments validates strategy and provides confidence in outlook.
Challenges Ahead
- Subsea orders remains dependent on the timing of one or two major project awards.
- Current weakness in the commodity price.
- Expect North American activity to decline 10 percent versus 2019 in Surface Technologies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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