The 10-second takeaway
For the quarter ended March 31 (Q1), FMC Technologies beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share grew.
Margins contracted across the board.
FMC Technologies notched revenue of $1.65 billion. The 22 analysts polled by S&P Capital IQ anticipated net sales of $1.59 billion on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $1.40 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 $0.43. The 28 earnings estimates compiled by S&P Capital IQ forecast $0.47 per share. GAAP EPS of $0.43 for Q1 were 4.9% higher than the prior-year quarter's $0.41 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 8.5%, much worse than the prior-year quarter. Operating margin was 8.5%, 80 basis points worse than the prior-year quarter. Net margin was 6.2%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.63 billion. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $6.81 billion. The average EPS estimate is $2.19.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 509 members out of 530 rating the stock outperform, and 21 members rating it underperform. Among 113 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 107 give FMC Technologies a green thumbs-up, and six 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 $54.83.
Is FMC Technologies the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add FMC Technologies to My Watchlist.
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. The Motley Fool recommends FMC Technologies. 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.