TechnipFMC reports Q4 adjusted EPS (9c), consensus 37c
Reports Q4 revenue $3.32B, consensus $3.4B. The company said, "Many significant achievements contributed to our success in 2018. We exceeded total Company financial objectives for a second consecutive year, largely driven by continued strength in Onshore/Offshore execution as evidenced by early start-up of Trains 2 and 3 for Yamal LNG. We also achieved notable milestones in Subsea, including the successful delivery of the industry's first full-cycle iEPCI projects and commercialization of our new Subsea 2.0 product platform. Total Company orders were $14.3 billion for the full year, a 40 percent increase compared to the prior year. Orders exceeded revenues in all segments, with Onshore/Offshore securing several key awards in the downstream and petrochemical sectors, driving a 95 percent increase in orders year-over-year. In Surface Technologies, strength outside the Americas drove orders 36 percent higher than the previous year. During the quarter, we progressed on outstanding investigations of historical projects and took a $280 million provision as a probable estimate for the aggregate settlement. We continue to cooperate with all authorities in order to conclude this matter."