FMC Technologies: Q2 Earnings Snapshot

July 27, 2022 GMT

NEWCASTLE UPON TYNE, Britain (AP) _ FMC Technologies Inc. (FTI) on Wednesday reported second-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Newcastle Upon Tyne, Britain-based company said it had net income of less than 1 cent. Earnings, adjusted for one-time gains and costs, were 2 cents per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The provider of equipment and services to energy companies posted revenue of $1.72 billion in the period, beating Street forecasts. Seventeen analysts surveyed by Zacks expected $1.7 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTI at https://www.zacks.com/ap/FTI