TechnipFMC 2024 Guidance, Reaffirmed: Sees Subsea Revenue Of $7.6B-$7.8B And Surface Technologies Of $1.2B-$1.35B; Free Cash Flow Of $425M-$575M
Portfolio Pulse from Benzinga Newsdesk
TechnipFMC has reaffirmed its 2024 financial guidance, projecting subsea revenue of $7.6B-$7.8B and surface technologies revenue of $1.2B-$1.35B. The company expects free cash flow between $425M-$575M, with reduced net interest expense and tax provision compared to previous guidance.
October 24, 2024 | 10:54 am
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TechnipFMC has reaffirmed its 2024 guidance with subsea revenue expected between $7.6B-$7.8B and surface technologies revenue between $1.2B-$1.35B. The company also projects free cash flow of $425M-$575M, with reduced net interest expense and tax provision.
The reaffirmation of TechnipFMC's 2024 guidance with specific revenue and cash flow targets provides a positive outlook for the company. The reduction in net interest expense and tax provision further strengthens the financial position, likely boosting investor confidence and positively impacting the stock price in the short term.
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