FMC Technologies: Q2 Earnings Snapshot
Posted Jul 21, 2021 04:41:51 PM.
Last Updated Jul 21, 2021 04:46:30 PM.
This article is more than 5 years old.
LONDON (AP) _ FMC Technologies Inc. (FTI) on Wednesday reported a second-quarter loss of $167 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the London-based company said it had a loss of 37 cents. Losses, adjusted for one-time gains and costs, came to 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The provider of equipment and services to energy companies posted revenue of $1.67 billion in the period, topping Street forecasts. Twenty-two analysts surveyed by Zacks expected $1.6 billion.
FMC Technologies shares have declined 16% since the beginning of the year, while the S&P’s 500 index has risen 16%. In the final minutes of trading on Wednesday, shares hit $7.85, a drop of slightly more than 2% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTI at https://www.zacks.com/ap/FTI
The Associated Press
