Latest News by Industry
NEWCASTLE UPON TYNE, Britain (AP) — NEWCASTLE UPON TYNE, Britain (AP) — FMC Technologies Inc. (FTI) on Thursday reported a loss of $37.3 million in its fourth quarter.
The Newcastle Upon Tyne, Britain-based company said it had a loss of 8 cents per share. Losses, adjusted to account for discontinued operations and restructuring costs, came to 5 cents per share.
The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The provider of equipment and services to energy companies posted revenue of $1.69 billion in the period, surpassing Street forecasts. Seventeen analysts surveyed by Zacks expected $1.64 billion.
For the year, the company reported a loss of $107.2 million, or 24 cents per share, swinging to a loss in the period. Revenue was reported as $6.7 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a FTI">Zacks stock report on FTI at https://www.zacks.com/ap/FTI