TechnipFMC plc (NYSE:FTI) reported better-than-expected second-quarter EPS and sales results on Thursday.
TechnipFMC reported quarterly earnings of 68 cents per share which beat the analyst consensus estimate of 58 cents per share. The company reported quarterly sales of $2.53 billion which beat the analyst consensus estimate of $2.48 billion.
TechnipFMC affirmed its FY2025 sales guidance of $9.60 billion to $10.15 billion.
Doug Pferdehirt, Chair and CEO of TechnipFMC, said, “I am very proud of what our team accomplished in what was another solid quarter, driven by continued strength in execution from both the commercial and operational teams. Total Company revenue in the period was $2.5 billion, with adjusted EBITDA of $509 million when excluding foreign exchange impacts. We generated free cash flow of $261 million and distributed $271 million through dividends and share buybacks, further demonstrating our commitment to return a significant portion of free cash flow to shareholders.”
TechnipFMC shares fell 0.3% to trade at $37.43 on Friday.
These analysts made changes to their price targets on TechnipFMC following earnings announcement.
- Susquehanna analyst Charles Minervino maintained TechnipFMC with a Positive and raised the price target from $40 to $45.
- Evercore ISI Group analyst Stephen Richardson maintained the stock with an Outperform rating and boosted the price target from $42 to $46.
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