Industry Overview - The global subsea market is projected to exceed $42 billion in capital investments by 2027, with a compound annual growth rate (CAGR) of 10% expected from 2024 to 2027, driven by increased operator spending on subsea equipment and installation services [1] Subsea Market Segmentation - Deepwater projects are anticipated to dominate the subsea market, representing 45% of the segment from 2024 to 2028, with significant initiatives in Brazil and Norway [2] - Ultra-deepwater developments are expected to capture 35% of the market, particularly in Brazil and Guyana, which are projected to lead in subsea installations [3] Emerging Opportunities - The subsea sector is expanding beyond traditional oil and gas, with the drive for Carbon Capture and Storage (CCS) creating new opportunities and necessitating innovation within the market [4] Key Companies - Companies like TechnipFMC and SLB are well-positioned to benefit from the projected capital influx in subsea projects, particularly in Brazil, Norway, and Guyana [5] - TechnipFMC is recognized for optimizing subsea fields and has a significant role in ExxonMobil's and Petrobras' subsea projects [6] - SLB, through its joint venture OneSubsea, focuses on transforming subsea production economics and reducing emissions, leveraging deep reservoir expertise and advanced technology [7]

Core Insights - FTI Consulting is expanding its global Construction, Projects & Assets practice with the appointments of Thomas Thompson and Stuart McIvor to enhance expertise and address evolving industry challenges [1][3][6] Company Overview - FTI Consulting, Inc. is a global business advisory firm with over 8,000 employees in 33 countries, generating $3.49 billion in revenues during fiscal year 2023 [8] Appointments and Expertise - Thomas Thompson brings over 30 years of experience in construction and engineering, focusing on project management advisory, operational cost estimating, and contract negotiations [2][3] - Stuart McIvor has nearly 20 years of experience in forensic delay analysis and dispute resolution across various regions including the UK, Europe, Middle East, and Asia-Pacific [4][5] Industry Challenges - The construction industry is facing increasing complexity, regulatory requirements, supply chain disruptions, and skilled labor shortages, necessitating tailored solutions for project management [4][7] Service Offerings - FTI Consulting provides a wide array of advisory services to support clients throughout the asset lifecycle, addressing technical, commercial, and legal challenges in the construction sector [7]

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

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) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|-------|---------------------|-------|---------------------------------------|-------|---------------------|-------|--------------|-----------------------|------------- ...