TechnipFMC posts higher profit despite lower revenues

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Oilfield services provider TechnipFMC has recorded an increase in its third quarter profit despite lower revenues as its orders exceeded revenues for the fourth consecutive quarter.

In its 3Q 2018 report on Wednesday TechnipFMC said that total company revenue was $3.1 billion, a 24.1% decrease when compared to the last year’s quarter and revenues of $4.1 billion.

The company’s net income was $136.9 million, an increase of 13.1% compared to the same period last year and net income of $121 million. These results included after-tax charges and credits of $2.9 million.

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