Short answer
TechnipFMC plc (FTI) filed its fiscal 2018 10-K annual report with the SEC on Mar 11, 2019. It reported revenue of $12.6B (−16.6% year over year) and net income of −$1.9B.
- Top risk flagged: GDPR noncompliance: fines up to €20,000,000 or 4% of worldwide annual turnover
FY2018 key financial metrics · XBRL
- Revenue
- $12.6B
- −16.6% YoY
- Net income
- −$1.9B
- −1796.0% YoY
- Operating margin
- -4.2%
- −13.2 pp YoY
- EPS (diluted)
- −$4.20
- −1850.0% YoY
- ROE
- -18.5%
- −19.3 pp YoY
- Operating cash flow
- −$185M
- −188.0% YoY
Source: XBRL data from the TechnipFMC plc (FTI) FY2018 10-K on SEC EDGAR. USD.
TechnipFMC plc FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Integrated energy services across Subsea, Onshore/Offshore, and Surface Technologies, combining proprietary technology, EPC, manufacturing, and field services
- Subsea 2.0 commercialized, with 70-90% fewer manual production activities and up to 50% lower size, weight, and part count
- Strategic shift toward integrated iFEED and iEPCI delivery, expanding deepwater opportunities through lower project costs and faster first production
- More than 37,000 employees and 18 operating subsea vessels, plus one under construction
- New 51% TIOS acquisition expanded worldwide riserless light well intervention capabilities, while Saudi Arabia and Abu Dhabi facilities strengthened regional positioning
Management Discussion & Analysis
- Revenue $12.55B, down $2.50B or 16.6% YoY from declining project activity
- Gross margin 18.2% vs 16.8%; net loss attributable to TechnipFMC $1.92B
- Best segment Onshore/Offshore: revenue $6.12B, operating margin 13.5%; worst Subsea: loss $1.53B, margin (31.6)%
- Operating cash flow $(185.4)M; capex $368.1M; $500M buyback completed, $0.13 quarterly dividend
- 2019 capex outlook $350M; risks from oil-price volatility, pricing pressure, and potential FCPA settlement above $280M
Risk Factors
- GDPR noncompliance: fines up to €20,000,000 or 4% of worldwide annual turnover
- Brexit uncertainty: material European operations exposed to disrupted UK-EU trade, tax, immigration, and supply-chain rules
- Maritime piracy: Gulf of Guinea, Somali Basin, and Gulf of Aden threaten crews, vessels, and project schedules
- Industry consolidation: customer and competitor concentration may pressure pricing and reduce oilfield-services capital spending
- Debt burden: $4.2 billion total debt and $2.5 billion credit-facility capacity constrain financial flexibility
Generated from the filing text; verify against the original. How to read a 10-K
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