TechnipFMC (FTI) Extends Winning Streak on Impressive Earnings, Growth Outlook

We recently published Rally Alert: 10 Stocks That Just Made Investors Richer. TechnipFMC plc (NYSE:FTI) is one of the best-performing stocks on Thursday.

TechnipFMC extended its winning streak to a third consecutive day on Thursday, jumping 11.76 percent to close at $37.54 apiece as investors cheered its impressive earnings performance and growth outlook for the rest of the year.

In a statement, TechnipFMC plc (NYSE:FTI) said it was able to grow its net income by 44.5 percent to $269.5 million in the second quarter of the year from $186.5 million in the same period last year.

Revenues also rose by 9 percent to $2.5 billion from $2.3 billion year-on-year.

Commenting on the performance, TechnipFMC plc (NYSE:FTI) Chairman and CEO Doug Pferdehirt underscored the company’s $2.6 billion of Subsea inbound in the quarter, representing a diverse set of awards.

“The uniqueness and diversity of our order book give us continued confidence that we will reach our three-year goal of $30 billion of Subsea inbound by the end of this year,” he noted.

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