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FMC Technologies, Inc. Message Board

  • rcf812 rcf812 Mar 10, 2008 4:33 PM Flag

    FMC outlook from the depths

    Earnings from continuing operations were 70 cents per share for the quarter, up 49 percent from 47 cents a year earlier.
    Revenue rose to $1.4 billion from $1.1 billion, led by the strength of its subsea systems business, FMC said.

    Analysts on average were expecting earnings of 62 cents and revenue of $1.228 billion, according to Reuters Estimates. There were fewer shares outstanding in the 2007 fourth quarter than in the 2006 fourth quarter.

    Looking ahead, FMC said it expects 2008 full-year earnings from continuing operations in the range of $2.75 to $2.85 per share. Analysts currently expect $2.76.

    The company said orders in the quarter totaled $2.5 billion, of which $2.0 billion was in subsea systems primarily driven by the Total Pazflor award, which had a value of approximately $980 million. Backlog reached $4.9 billion, including a record $3.9 billion for subsea systems.
    Well run company, I've worked for them and have owned share since IPO.

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    • I agree. I've known the Financial and Legal leadership over the years, very solid, quite conservative. Bought stock when it was trading around $23 - also knew just enough about the politics of oil to realize that offshore oil was going to be a lot easier to access in the future.

      Wish I had bought more back then.

54.51+0.10(+0.18%)Oct 24 4:02 PMEDT

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