The 10-second takeaway
For the quarter ended Sep. 30 (Q3), FMC Technologies missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share contracted significantly.
Margins shrank across the board.
FMC Technologies recorded revenue of $1.42 billion. The 23 analysts polled by S&P Capital IQ predicted revenue of $1.57 billion on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $1.29 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 25 earnings estimates compiled by S&P Capital IQ predicted $0.57 per share. GAAP EPS of $0.41 for Q3 were 18% lower than the prior-year quarter's $0.50 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 22.5%, 140 basis points worse than the prior-year quarter. Operating margin was 9.7%, 380 basis points worse than the prior-year quarter. Net margin was 7.0%, 240 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.73 billion. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $6.05 billion. The average EPS estimate is $1.87.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 509 members out of 534 rating the stock outperform, and 25 members rating it underperform. Among 125 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 120 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 outperform, with an average price target of $52.79.
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