NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) (the “Company” or “TechnipFMC”) today reported first quarter 2024 results. Summary Financial Results from Continuing Operations Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules. Three Months Ended Change (In millions, except per share amounts) Mar. 31, 2024 Dec. 31, 2023 Mar. 31, 2023 Sequential Year-over- Year Revenue $2,042.0 $2,077.7 $1,717.4 (1.7%) 18.9%...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) today announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on June 5, 2024 to shareholders of record as of the close of business on the New York Stock Exchange on May 21, 2024. The ex-dividend date is May 20, 2024. Important Information for Investors and Securityholders Forward-Looking Statement This release contains "forward-looking statements" regarding our future dividend payment obligations as defined in Section 27A of the United States Securities Act o...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (the “Company”) has been awarded a large(1) contract in Guyana’s Stabroek Block by Exxon Mobil Corporation (NYSE: XOM) affiliate ExxonMobil Guyana Limited to supply subsea production systems for the Whiptail project. TechnipFMC will provide project management, engineering, and manufacturing to deliver 48 subsea trees and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment. Jonathan Landes, President, Subsea at TechnipFMC, commented: “ExxonMobil Guyana will utilize our systems and manifolds, ...
>Alberta: drought in Canada’s leading oil province - The province of Alberta (Canada) is in a situation of water stress for the fourth consecutive year. On a scale of 1 to 5, the region is currently at stage 4 and if stage 5 were reached the government would be obliged to use directives in order to manage the situation. This province generates significant revenues from the oil and gas industry (around 15% of GDP) and agriculture (wheat, beef, etc.) which are extr...
>L’Alberta : sécheresse dans la principale province pétrolière canadienne - La province de l’Alberta (Canada) fait face à un stress hydrique pour la 4ème année consécutive. Sur une échelle de 1 à 5, la région est actuellement au stade 4 et si le stade 5 était atteint, le gouvernement serait alors amené à gérer par des directives. Cette province bénéficie de revenus importants en provenance de l’industrie du Oil&Gas (environ 15% du PIB) et de l’agriculture (blé, b...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) will host its first quarter 2024 earnings conference call on Thursday, April 25, 2024, at 1:30 p.m. London time (8:30 a.m. New York time). A press release announcing the results will be issued prior to the call at approximately 11:45 a.m. London time (6:45 a.m. New York time). The event will be webcast live and can be accessed through the TechnipFMC website () or at . An archived version will be available on the website following the webcast. About TechnipFMC TechnipFMC is a leading technology provider to the traditional and...
>Supercycle and shareholder returns in the oil & gas sector - After several challenging years in which a number of players were in survival mode, the start of a supercycle signals an acceleration in free cash flow generation for certain players and thus in shareholder returns. This is particularly justified as the groups boast strengthened financial situations as well as good visibility thanks to their backlogs. Sector companies are not yet facing a problem of ab...
>Supercycle et retours à l’actionnaire dans le secteur du Oil&Gas - Après plusieurs années difficiles dans un mode « survival » pour de nombreux acteurs, l’entrée dans un mouvement de supercycle est pour certains acteurs synonymes d’accélération de la génération de free cash-flow et in-extenso du retour aux actionnaires. Ceci est d’autant plus justifié que les groupes disposent d’une situation financière renforcée ainsi que d’une bonne visibilité via leurs carnets d...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (the “Company”) has been selected to deliver the first all-electric integrated project by the Northern Endurance Partnership (NEP), a joint venture between bp, Equinor, and TotalEnergies. The NEP is building carbon dioxide transportation and storage infrastructure for carbon capture projects in the United Kingdom’s East Coast Cluster. TechnipFMC will use its integrated Engineering, Procurement, Construction, and Installation (iEPCI™) execution model to deliver this project. The Company’s all-electric solution will collect and feed...
>Outperform rating maintained - Target price $ 25.3 vs $ 25 previously - After the publication and the conference call, we raised our target price to $ 25.3 (vs $ 25 previously), based on a 12-mth fwd P/E of 20x. The adjustment to our forecasts for 2024 stems almost exclusively from a higher tax burden than initially anticipated (2024-2026 EBITDA revised up 2%). TechnipFMC, (FTI), like the majority of players in the oil services sector, delivered a very optimisti...
>Opinion Surperformance, OC 25.3 $ vs 25 $ - A l’issue de la publication et de la conférence call, nous relevons notre OC à 25.3 $ (vs 25 $ auparavant), basé sur un multiple de PE Next 12m de 20x. L’ajustement de nos attentes 2024 provient quasi exclusivement d’une fiscalité plus lourde qu’initialement escompté (séquence d’EBITDA 2024/26 ajustée en hausse de 2%). TechnipFMC, (FTI), à l’image de la plupart des acteurs des services pétroliers, affiche un discours t...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) today reported fourth quarter 2023 results. Summary Financial Results from Continuing Operations - Fourth Quarter 2023 Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules. Three Months Ended Change (In millions, except per share amounts) Dec. 31, 2023 Sep. 30, 2023 Dec. 31, 2022 Sequential Year-over- Year Revenue $2,077.7 $2,056.9 $1,694.4 1.0% 22.6% Income...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) today announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on April 3, 2024 to shareholders of record as of the close of business on the New York Stock Exchange on March 19, 2024. The ex-dividend date is March 18, 2024. Important Information for Investors and Securityholders Forward-Looking Statement This release contains "forward-looking statements" regarding our future dividend payment obligations as defined in Section 27A of the United States Securities ...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI™) project to use high-pressure subsea production systems rated up to 20,000 psi (20K). The Company will manufacture and install subsea production systems, umbilicals, risers, and flowlines for Shell’s Sparta development in the Gulf of Mexico. The tree systems will be Shell’s first to be qualified for 20K applications and are engineered to meet the hi...
The emergence of Namibia as a new oil-producing country offers opportunities for players in the sector. Regarding the oil companies, although at this stage the volumes discovered by TotalEnergies and Shell have not been quantified, the zone seems to be a real game-changer for GALP, leading to an upgrade to our rating (Outperform vs Underperform, target price € 16.5). In the medium term, it could also represent a new El Dorado for oil services despite the challenges of starting up...
L’émergence de la Namibie en tant que nouveau pays pétrolier offre des opportunités pour les acteurs du secteur. Côté compagnies pétrolières, même si, à ce stade, les volumes découverts par TotalEnergies et Shell n’ont pas été quantifiés, il semblerait que cette zone soit un véritable game changer pour GALP d’où le relèvement de notre recommandation (Surperformance vs Sous-performance, OC 16.5 €). Elle pourrait aussi constituer à MT un nouvel eldorado pour les services pétroliers...
>Sector down 5% in Europe and by close to 2% in the US - The oil services sector was impacted by the combination of an incident on a project in Australia, which reminded investors that the sector could face execution difficulties/risks, and Saudi Aramco's announcement that it would maintain its production capacity at 12 mb/d (compared with a previous target of 13 mb/d). We believe the correction to be excessive, given that the pipeline of new projects remains substa...
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