TechnipFMC Announces Third Quarter 2020 Results

Source: 10/22/2020, Location: Europe

TechnipFMC plc reported third quarter 2020 results.

- Solid operational results driven by strong execution across all segments
- Total Company inbound orders of $2.2 billion; Subsea book-to-bill of 1.1
- Resilient backlog of $19.6 billion; $9.4 billion scheduled in 2021
- Achieved targeted cost savings of more than $350 million ahead of schedule
- Cash flow from operations of $168 million; free cash flow of $95 million
- U.S. GAAP diluted loss per share was $0.01
- Includes total after-tax charges, net of credits, of $0.17 per diluted share
- Adjusted diluted earnings per share, excluding charges and credits, was $0.16
- Includes foreign exchange gains of $0.02 per diluted share
- Includes expense resulting from increased liability to joint venture partners of $0.14 per diluted share

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