TechnipFMC reports Q1 adjusted EPS 33c, consensus 37c

Reports Q1 revenue $2.23B, consensus $2.25B. Doug Pferdehirt, Chair and CEO of TechnipFMC (FTI), remarked, “I’m pleased to share another strong set of financial results to start the year. Our quarterly results clearly demonstrate the unique capabilities of our company and the value we are providing to our clients. Total Company revenue in the period was $2.2 billion. Adjusted EBITDA was $356 million when excluding foreign exchange impacts, an increase of 38 percent compared to the prior year. Free cash flow was $380 million, which, together with our strong cash flow from operations, is a notable achievement in light of our typical seasonality.”