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...
TechnipFMC is global leader in oil and gas projects, technologies, systems, and services. Co. offers subsea, surface, onshore, and offshore solutions for oil and gas projects. Co. serves customers worldwide. With Co.'s technologies and production systems, integrated expertise, and comprehensive solutions, Co. is transforming Co.'s clients' project economics. Co. is uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, Co.'s offering unlocks new possibilities for Co.'s clients in developing their oil and gas resources.
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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