TechnipFMC Confirms Total Company 2019 Segment Guidance, Announces Fourth Quarter Non-cash Impairment Charges of $2.4 Billion Largely Due to Change in Market Capitalization
TechnipFMC plc Ordinary Share (FTI)
Last technipfmc plc ordinary share earnings: 4/22 04:15 pm
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Source: Business Wire
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Regulatory News:TechnipFMC plc (NYSE: FTI) (Paris: FTI) today announced a preliminary financial update in advance of the Company’s fourth quarter 2019 earnings release scheduled for Wednesday, February 26, 2020.The Company anticipates segment results for the full year 2019 to be as follows:Total Company revenues approaching the guidance mid-point of $13.5 billionAdjusted EBITDA margin1 for all segments to meet or exceed guidance of at least 11.5% for Subsea, 16.5% for Onshore/Offshore, and 10% for Surface TechnologiesCorporate expense, net1, in-line with guidance of $210 – 215 million, excluding impact of foreign currency fluctuationsThe Company expects approximately $2.4 billion of non-cash asset impairment charges to impact results in the fourth quarter.Three Months EndedSubseaSurface TechnologiesTotal(Approximate, in billions)Goodwill$1.3$0.7$2.0Other assets0.4n/m0.4Total$1.7$0.7$2.4Primary driverReduced marketcapitalizationChange in N
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