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Benzinga
Benzinga
Business
Zacks

TechnipFMC plc (FTI) Q2 Earnings Lag Estimates, Sales Beat

TechnipFMC FTI British Petroleum

TechnipFMC plc (NYSE:FTI) reported second-quarter 2022 adjusted earnings of 2 cents per share, lagging the Zacks Consensus Estimate of 4 cents per share. This underperformance was due to higher product costs and lease expenses, which pushed up the company's total expenses.

Adjusted EBITDA from the Subsea unit for the reported quarter totaled $176 million, beating the Zacks Consensus Estimate of $163 million, while the Surface Technologies unit's profit came in at $32.4 million, outperforming the Zacks Consensus Estimate of $28.85 million.

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