TechnipFMC reports Q3 adjusted EPS 12c, consensus 50c
Reports Q3 revenue $3.34B, consensus $3.52B. The company said, "In the third quarter, we announced a transformational move to create two diversified, pure-play market leaders. The separation will enable both companies to benefit from dedicated focus of management, resources and capital while highlighting the unique value proposition and differentiated investment appeal of each company. We believe strongly that providing independence for these two world-class, high-performing businesses will unlock further opportunities and create value for all stakeholders. Subsea orders of $1.5 billion reflect continued strength in integrated project awards, increased services activity and the adoption of new technologies. We announced several new iEPCI projects, including the Pyxis project, the first call-off of our recently executed iEPCI frame agreement with Woodside. Subsea services activity continued to benefit from the industry's largest installed base, and we remain on track for double-digit growth for the full year. In the quarter, we also received the industry's first award of a 20K high-pressure, high-temperature system for LLOG's Shenandoah project in the Gulf of Mexico."