FMC Technologies Earnings: Net Income Falls

FMC Technologies (NYSE: FTI) announced its results for the second quarter on July 25, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.

Earnings and Revenue:

Wall Street watched as FMC Technologies topped expectations with its latest EPS and revenue figures. The company reported EPS of 39 cents/share versus the 38 cents/share estimate and revenues of $1.23 billion versus the $1.19 billion estimate.



This marks the second quarter in a row that the company has seen net income fall. In the previous quarter, net income fell 13.9% from the year earlier quarter. FMC Technologies' revenue has now risen for two straight quarters. In the first quarter, revenue increased 3% to $1.08 billion from the year earlier quarter.

Income:

For the year, FMC Technologies reported net income of $1.38 per share. The company fells short of analysts projections of $1.39. According to the reported number, the company's income fell 2% from last year's levels.

Conference Call:

The conference call for second quarter earnings can be accessed here.

Official Comment:

"We have booked almost $1.9 billion in subsea orders during the first half of 2011, and continue to believe $4.0 billion in orders for the year is possible," said John Gremp, President and Chief Executive Officer. "Our subsea revenue of nearly $800 million during the second quarter has kept us on track to reach $3.3 billion revenue for the year. Our fluid control business is continuing to produce at record levels and as our capacity expansion comes online, we will be able to meet our customers' growing demands."

Industry:

FMC Technologies' industry, oil field machines and equipment, is currently reporting price/earnings growth of 0.4%. The company's EPS compares unfavorably with its industry's estimated average of $1.11.

What to Do Next:

Now you can make a better-informed decision about whether to buy, sell or hold FMC Technologies shares until the next earnings announcement. Whatever you do, be sure to check back in with us before the company's next earnings release for a full prep sheet, just like the one we did here.

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