Earnings Preview For FMC Technologies (FTI)

FMC Technologies FTI is expected to report its Q1 earnings report on Tuesday, April 26, after the markets close. Analysts are expecting earnings per share to be $0.37, down from $0.40 a year ago. One week ago, analysts were predicting earnings per share to stand at $0.36. FMC Technologies is a Houston-based global provider of technology solutions for the energy industry. The company designs, manufactures and services systems and products, such as subsea production and processing systems, surface wellhead production systems, high-pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. The company operates in two business segments: Energy Production Systems and Energy Processing Systems. On October 20, 2009, the company completed the acquisition of Multi Phase Meters AS. Ten days later, the company also acquired Direct Drive Systems. FMC Technologies currently employs 11,500 people. The majority of analysts have their rating on FMC Technologies' shares on “hold” or “buy,” with the mean target for its shares is $50.56. Investors will be hoping for strong results on Tuesday if FMC Technologies' shares are to move from the $47.41 level reached last week. Analysts are predicting stronger activity in the rest of the year, however. Revenue for this quarter is projected to be $1.15 billion, up 9% on previous year's level. For the year as a whole, revenue is expected to increase by 21% year-on-year to $5 billion. Earnings per share is expected to pick up in the rest of the year as well. The downside is that FMC Technologies is still lagging behind the industry average. While the industry average earnings per share is expected to be up 47.6% year-on-year, the equivalent value for FMC Technologies is predicted to be just 15.6%.