What's Driving the Outperformance? FMC Technologies may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level. In terms of its value breakdown, the stock currently trades at 24.3X current fiscal year EPS estimates, which is a premium to the peer industry average of 19.4X. On a trailing cash flow basis, the stock currently trades at 22.1X versu ...

The unit's adjusted EBITDA decreased 1.9% to $46 million. The figure beat our estimate of $40.5 million. The segment's inbound orders fell 23.6% year over year. The quarter-end backlog also decreased 18.3% in the same time frame. Important Energy Earnings So Far As of Jun 30, 2024, the company reported $2.1 billion in cash and cash equivalents and $7.6 billion in longterm debt, representing a debt-to-capitalization ratio of 43.2. HAL also bought back $250 million worth of its stock in the April-June period. ...

21 Reclassifications out of accumulated other comprehensive income (loss) consisted of the following: (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. Three Months Ended Six Months Ended | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------|--------|--------------------------------|-----------------|---------------------|---- ...

Financial Data and Key Metrics Changes - The company reported revenue of $2.3 billion and adjusted EBITDA of $379 million, resulting in an adjusted EBITDA margin of 16.3% when excluding foreign exchange impacts [22][26] - Total company inbound orders were $3.1 billion, with subsea orders accounting for $2.8 billion and a book-to-bill ratio of 1.4 [19][26] - Total company backlog reached a record level of $13.9 billion, driven by a book-to-bill above 1 in 10 of the last 11 quarters [12][31] Business Line Data and Key Metrics Changes - In the Subsea segment, revenue increased by 16% sequentially to $2 billion, with adjusted EBITDA of $357 million and a margin of 17.7%, up 370 basis points from the previous quarter [44][45] - Surface Technologies reported revenue of $316 million, a 3% sequential increase, primarily driven by increased activity in the Middle East [27][30] Market Data and Key Metrics Changes - The company emphasized the importance of Guyana, where it has established a strong presence and received multiple project awards, including ExxonMobil's Whiptail project [8][10] - The company also highlighted growth opportunities in emerging markets such as Mozambique, Suriname, and Namibia, indicating a robust pipeline of future projects [35][56] Company Strategy and Development Direction - The company is focused on developing local talent and partnerships in Guyana, with approximately 80% of its workforce being local [23][11] - The introduction of innovative technologies like Subsea 2.0 is expected to improve project economics and drive sustainable differentiation in the market [21][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a Subsea adjusted EBITDA margin exceeding 16.5% for the current year, reflecting a significant improvement from previous forecasts [20][48] - The company anticipates continued growth in backlog and revenue, with an expectation of total company full-year adjusted EBITDA of approximately $1.35 billion [30][51] Other Important Information - The company received investment grade ratings from Fitch and S&P, which will lower interest rates and fees, enhancing financial flexibility [29] - Free cash flow for the quarter was reported at $180 million, with capital expenditures of $51 million [28] Q&A Session Summary Question: Sustainability of the subsea market beyond current projects - Management indicated that clients are making earlier commitments for future projects, reflecting confidence in the market's durability and improved project economics [75][76] Question: Opportunities in emerging basins - Management highlighted Guyana, Mozambique, Namibia, and Suriname as key areas for future growth, with a focus on local partnerships and sustainable development [35][56] Question: Capacity and supply chain management - Management acknowledged potential capacity challenges but emphasized the scalability of their new business model, which allows for improved efficiency without significant capital expenditure [92] Question: Client confidence in long-term projects - Management noted that clients are increasingly focused on securing quality capacity for future projects, leading to direct awards and long-term partnerships [75][76] Question: Utilization of Subsea 2.0 technology - Management reported that about 50% of current orders are for Subsea 2.0, with expectations for increased utilization as more orders flow through [88][72]

Over the last four quarters, the company has surpassed consensus EPS estimates four times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. FMC Technologies shares have added about 35.5% since the beginning of the year versus the S&P 500's gain of 13.8%. While FMC Technologies has outperformed the market so far this year, the question that comes to investors' ...

Second Quarter 2024 Revenues of $949.2 Million, Up 10% Compared to $864.6 Million in Prior Year Quarter Second Quarter 2024 EPS of $2.34, Up 34% Compared to $1.75 in Prior Year Quarter Company Raises Full Year 2024 Revenue and EPS Guidance Ranges to Reflect Record First Half of 2024 WASHINGTON, July 25, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today released financial results for the second quarter ended June 30, 2024. Second quarter 2024 revenues of $949.2 million increased $84.6 million, ...

TechnipFMC.com Page 16 of 24 TechnipFMC.com Page 10 of 24 Exhibit 1 TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share data, unaudited) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|-------|---------------------|-------|---------------------------------------|-------|---------------------|-------|--------------|-----------------------|------------- ...

TechnipFMC plc (FTI) announced that it has been awarded a large integrated engineering, procurement, construction and installation (iEPCI) contract by Energean plc. The contract, valued between $500 million and $1 billion, has been included in the company's subsea inbound orders for the second quarter, as per a statement from TechnipFMC. SM Energy is an upstream energy firm operating in the prolific Midland Basin and the South Texas regions. For 2024, the company expects its production to increase from the ...

WASHINGTON, July 17, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of William Perlstein as Global Segment Leader of the Forensic and Litigation Consulting segment at FTI Consulting. He also will join the firm's global Executive Committee. The Forensic and Litigation Consulting segment at FTI Consulting provides law firms, companies, boards of directors, government entities, private equity firms and other interested parties with a multidisciplinary and independent ...

WASHINGTON, July 15, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) projects that U.S. online retail sales will reach $1.2 trillion in 2024, an increase of nearly 10% from last year, according to the firm's 2024 Online Retail Report. "E-commerce in the U.S. is in a maturing phase as it returns to pre-pandemic normalcy, but it continues to capture market share, primarily from store-based retailers," said J.D. Wichser, a Senior Managing Director and Leader of the Retail & Consumer Products practice ...