TechnipFMC’s third-quarter revenue up as profit slumps

TechnipFMC's third-quarter revenue up as profit slumpsImage courtesy of TechnipFMC

LNG engineer TechnipFMC reported an increase in revenue for the third quarter of the year.

In its quarterly report, TechnipFMC said its revenue for the third quarter reached $3.36 billion, 6.1 percent above the $3.14 billion reported in the corresponding quarter last year.

The profit for the quarter plunged 84.1 percent from $136.9 million in the third quarter of 2018 to $21.8 million in the quarter under review.

Subsea reported third-quarter revenue of $1,34 billion, up 11 percent from the prior year. Revenue increased due to higher project-related activity and growth in services, the statement reads.

Onshore/Offshore reported third-quarter revenue of $1,59 billion. Revenue increased 4.2 percent from the prior-year quarter, primarily driven by higher activity on recent awards in the downstream, petrochemical and offshore sectors as well as the first contribution from Arctic LNG 2. The increase was partially offset by lower activity on Yamal LNG as the project nears completion.

Surface Technologies reported third-quarter revenue of $396.6 million, a decrease of 1.4 percent from the prior-year quarter. The revenue decline was driven mainly by lower sales in North America resulting from further reductions in drilling and completion activity, largely offset by revenue growth in international markets.

Share this article

Follow LNG World News

Posted on October 24, 2019 with tags .

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >