The 10-second takeaway
For the quarter ended March 31 (Q1), FMC Technologies met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share improved significantly.
Margins dropped across the board.
FMC Technologies notched revenue of $1.40 billion. The 18 analysts polled by S&P Capital IQ looked for net sales of $1.40 billion on the same basis. GAAP reported sales were 29% higher than the prior-year quarter's $1.08 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.41. The 23 earnings estimates compiled by S&P Capital IQ anticipated $0.45 per share. GAAP EPS of $0.41 for Q1 were 17% higher than the prior-year quarter's $0.35 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.0%, 110 basis points worse than the prior-year quarter. Operating margin was 8.8%, 50 basis points worse than the prior-year quarter. Net margin was 7.1%, 80 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.49 billion. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $6.15 billion. The average EPS estimate is $2.14.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 500 members out of 523 rating the stock outperform, and 23 members rating it underperform. Among 132 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 127 give FMC Technologies a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FMC Technologies is hold, with an average price target of $52.48.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.