TechnipFMC expecting Q3 profit of 40 cents per share, potential challenges in Surface Technologies segment.

From Barchart: 2024-10-18 10:24:00

TechnipFMC plc (FTI) is scheduled to report third-quarter 2024 results on Oct. 24. The current Zacks Consensus Estimate predicts a profit of 40 cents per share on revenues of $2.3 billion. The company beat estimates in the last quarter with adjusted earnings of 43 cents per share and revenues of $2.3 billion.

TechnipFMC’s total backlog reached a historic high in Q2, indicating a 4.7% increase from the previous year. The company’s Subsea 2.0 platform has been driving growth with innovative products. However, revenue and adjusted EBITDA margin in the Surface Technologies segment decreased in the second quarter, signaling potential challenges in profitability.

The Zacks Consensus Estimate for FTI’s Q3 earnings suggests a significant year-over-year improvement. While there is uncertainty around beating estimates, investors may consider other energy stocks like Cheniere Energy (LNG), Oceaneering International (OII), and Core Laboratories (CLB) based on strong earnings prospects and rankings. LNG has a 55.9% average earnings surprise with a positive Earnings ESP.

Experts have identified 7 elite stocks as the “Most Likely for Early Price Pops,” beating the market consistently. Investors can explore these hand-picked options for potential gains. For the latest recommendations from Zacks Investment Research on stocks to double, download the free report.



Read more at Barchart: TechnipFMC’s (FTI) Q3 Earnings Preview: Things to Consider