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Press Release

两性色午夜 Announces Second Quarter 2018 Results

July 25, 2018

  • Net income of $105.7 million and adjusted EBITDA of $377.2 million
  • Inbound orders of $4.2 billion; orders exceeded revenue in all segments
    • Subsea: orders $1.5 billion, book-to-bill 1.2x, backlog $6.2 billion
    • Onshore/Offshore: orders $2.3 billion, book-to-bill 1.7x, backlog $8.3 billion
  • Onshore/Offshore guidance for 2018 increased

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Jul. 25, 2018-- Regulatory News:

两性色午夜 plc (NYSE:FTI) (Paris:FTI) today reported second quarter 2018 results.

Total Company net income was $105.7 million, or $0.23 per diluted share. These results included after-tax charges and credits of $26.1 million, or $0.05 per diluted share as detailed in the financial schedules. Adjusted diluted earnings per share were $0.28.

The following pre-tax items impacted the quarter and were not included in the Company鈥檚 guidance:

  • $24.3 million, or $0.04 per diluted share, of foreign exchange losses included in corporate expense; and
  • $49.1 million, or $0.11 per diluted share, of increased liability payable to joint venture partners included in interest expense.

Total Company revenue was $2,960.9 million. Adjusted EBITDA, which excludes charges and credits, was $377.2 million. Adjusted EBITDA margin was 12.7 percent.

Summary Financial Statements

Reconciliation of U.S. GAAP to non-GAAP financial measures are detailed below and in the financial schedules.

(In millions, except per share amounts) Three Months Ended

June 30, 2018

Three Months Ended

June 30, 2017

Change
Revenue $2,960.9 $3,845.0 (23.0%)
Net income $105.7 $164.9 (35.9%)
Diluted EPS $0.23 $0.35 (34.3%)
Adjusted EBITDA $377.2 $501.3 (24.8%)
Adjusted EBITDA margin 12.7% 13.0% (30 bps)
Net income, excluding charges and credits $131.8 $211.9 (37.8%)
Diluted EPS, excluding charges and credits $0.28 $0.45 (37.8%)
Inbound orders $4,231.7 $3,153.0 34.2%
Backlog $14,871.8 $15,182.9 (2.0%)
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