TechnipFMC books smaller profit, but sees record inbound orders

Oilfield services provider TechnipFMC booked a smaller profit in the second quarter of the year despite a 16% increase in revenues when compared to the same period last year. In addition, the company achieved record inbound orders and increased backlog by more than 73%.

TechnipFMC said on Thursday that total company revenue for the second quarter of 2019 was $3.43 billion, up 16% from $2.96 billion in the same period last year.

Net income for 2Q 2019 was $97 million – these results included after-tax charges and credits totaling $78.6 million of expense – down 8.2% from $105.7 million in 2Q 2018.

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