trending Market Intelligence /marketintelligence/en/news-insights/trending/i1c0hfacd5kg0jrtubdrjq2 content esgSubNav
In This List

TechnipFMC's quarterly net loss widens on tax charges


Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally


IR In Focus | Episode 1 - Digital Innovation to Drive Investor Engagement

The Cobalt Expansion Drive Is A Copper Story


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

TechnipFMC's quarterly net loss widens on tax charges

Oilfield services provider TechnipFMC plc reported that its net loss widened to $153.9 million, or 33 cents per diluted share, in the fourth quarter of 2017, from $133.8 million, or $1.13 per share, in the year-ago period.

The company booked $244.8 million in after-tax charges and credits, which comprised noncash charges of $138.2 million due to the tax changes in the U.S. and France.

Revenue in the three months that ended Dec. 31, 2017, came in at $3.68 billion, compared with $2.05 billion in the year-ago period.

The company's subsea and onshore/offshore segments posted revenue of $1.29 billion and $2.02 billion in the fourth quarter, respectively, up from $1.23 billion and $821.9 million in the year-ago quarter.

For the 12 months ending Dec. 31, 2017, net income came in at $113.3 million, or 24 cents per share, compared with $393.3 million, or $3.16 per share, a year earlier.

Full-year revenue for the subsea and onshore/offshore segments came in at $5.88 billion and $7.90 billion, respectively.

For fiscal 2018, the company expects onshore/offshore revenue to range from $5.3 billion to $5.7 billion, and subsea revenue to come in at $5.0 billion to $5.3 billion.