Short answer
TechnipFMC plc (FTI) filed its fiscal 2017 10-K annual report with the SEC on Apr 2, 2018. It reported revenue of $15.1B and net income of $113M.
- Top risk flagged: Internal-control material weaknesses as of December 31, 2017, creating restatement and SEC reporting risks
FY2017 key financial metrics · XBRL
- Revenue
- $15.1B
- Net income
- $113M
- +952200.8% YoY
- Operating margin
- 9.0%
- EPS (diluted)
- $0.24
- −92.4% YoY
- ROE
- 0.8%
- +16.9 pp YoY
- Operating cash flow
- $211M
- −57.3% YoY
Source: XBRL data from the TechnipFMC plc (FTI) FY2017 10-K on SEC EDGAR. USD.
TechnipFMC plc FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Integrated oil and gas technology, engineering, manufacturing, installation and lifecycle services across Subsea, Onshore/Offshore and Surface Technologies
- 2017 merger of equals created TechnipFMC, combining complementary scopes and introducing integrated subsea delivery through iFEED and iEPCI
- New Subsea 2.0 portfolio, smaller and lighter equipment launched in November 2017
- Subsea orders $5.1 billion, up 16% year over year, with direct and smaller-project awards exceeding half of inbound orders
- More than 37,000 employees and 18 operating vessels, with two additional vessels under construction
Management Discussion & Analysis
- Revenue $15.1B, down $4.0B or 21% YoY pro forma, driven by lower Subsea and Onshore/Offshore activity
- Gross margin 16.8% vs 14.1%; net income attributable to TechnipFMC $113.3M vs $378.2M
- Best segment Onshore/Offshore: revenue $7.9B, operating margin 10.3% vs 2.1%; worst Subsea: revenue $5.9B, margin 7.8% vs 10.7%
- Operating cash flow $210.7M; investing cash flow $1.3B; $500M share repurchase authorization and $0.13 quarterly dividend
- 2018 outlook: $300M planned capex and lower operating cash flow; risks include commodity volatility, project delays and FCPA investigations
Risk Factors
- Internal-control material weaknesses as of December 31, 2017, creating restatement and SEC reporting risks
- Oil-and-gas downturn since 2014, exposing demand to volatile crude and natural-gas prices
- Maritime piracy in the Gulf of Guinea, Somali Basin and Gulf of Aden threatening crews, vessels and project schedules
- Industry consolidation threatening market share and pricing, including competitor-driven price concessions
- Total debt $3.9 billion with $2.5 billion additional credit capacity, increasing refinancing and covenant-default exposure
Generated from the filing text; verify against the original. How to read a 10-K
Other TechnipFMC plc annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.