TechnipFMC (FTI) Reports Q2: Everything You Need To Know Ahead Of Earnings
Subsea energy systems provider TechnipFMC (NYSE:FTI) will be reporting earnings this Thursday morning. Here’s what you need to know.
TechnipFMC missed analysts’ revenue expectations last quarter, reporting revenues of $2.49 billion, up 11.6% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
Is TechnipFMC a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting TechnipFMC’s revenue to grow 5.3% year on year, slowing from the 9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. TechnipFMC has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at TechnipFMC’s peers in the oilfield services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. World Kinect delivered year-on-year revenue growth of 50.3%, beating analysts’ expectations by 27.7%, and Baker Hughes reported a revenue decline of 2.4%, topping estimates by 3.7%. World Kinect traded up 5.2% following the results while Baker Hughes was also up 5.7%.
Read our full analysis of World Kinect’s results here and Baker Hughes’s results here.
Investors in the oilfield services segment have had steady hands going into earnings, with share prices flat over the last month. TechnipFMC is up 10.8% during the same time and is heading into earnings with an average analyst price target of $75.62 (compared to the current share price of $72.31).
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