UBS Upgrades FMC Technologies (FTI) to Buy

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Go back to UBS Upgrades FMC Technologies (FTI) to Buy

FMC Technologies Reports Third Quarter 2016 Diluted Earnings per Share from Continuing Operations of $0.20; Excluding Charges, Adjusted Diluted Earnings per Share from Continuing Operations of $0.35

October 19, 2016 4:15 PM EDT

HOUSTON, Oct. 19, 2016 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) today reported third quarter 2016 revenue of $1.1 billion, down 29 percent from the prior-year quarter primarily due to lower activity across all reporting segments. Diluted earnings per share from continuing operations were $0.20, which includes total Company pre-tax charges of $43 million, or $0.15 per diluted share as detailed in the attached financial schedules. Adjusted diluted earnings per share from continuing operations were $0.35.

"Subsea Technologies achieved further improvement in segment operating margins, with third quarter results being the highest levels we have recorded in 2016," said Doug... More