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FMC Technologies tops 1Q profit forecasts

LONDON (AP) _ FMC Technologies Inc. (FTI) on Wednesday reported first-quarter profit of $190.8 million.

On a per-share basis, the London-based company said it had profit of 41 cents. Earnings, adjusted for non-recurring costs, came to 71 cents per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The provider of equipment and services to energy companies posted revenue of $3.39 billion in the period, falling short of Street forecasts. Sixteen analysts surveyed by Zacks expected $3.81 billion.

FMC Technologies shares have dropped 9 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 7 percent. In the final minutes of trading on Wednesday, shares hit $32.26, a rise of 13 percent 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


Keywords: FMC Technologies, Earnings Report