Saipem and TechnipFMC's 3Q Results Are Positive; Results Appear To Be Hitting a Trough
Oil and gas engineering and construction companies TechnipFMC and Saipem released positive third-quarter results. TechnipFMC saw revenue increase 6% sequentially and adjusted operating income margins increase to 10.2% from 8.8%. Saipem saw revenue grow a very strong 17% sequentially, although adjusted operating income grew a more modest 5% sequentially as margins weakened to 7.2% from 8.1%. Our fair value estimates and no-moat ratings for the two companies remain unchanged.For TechnipFMC, the i...
Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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