Technip Continues to Manage Oil Market Downturn Admirably Well
Technip’s business continues to perform very well considering the severity of the downturn oil services is currently mired in. The firm posted strong quarterly results, orders were reasonably decent, and 2016 guidance was raised to come in at the high end of its previous ranges. The company’s cost-cutting campaign also continued to bear fruit, and margins actually ticked up slightly year over year despite revenue being down 6%. The good news aside, the critical issue for Technip remains that 201...
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