TechnipFMC plc (NYSE: FTI) (Paris: FTI) reported second quarter 2019 results.
Total Company revenue was $3,434.2 million. Net income was $97 million, or $0.21 per diluted share. These results included after-tax charges and credits totalling $78.6 million of expense, or $0.18 per diluted share; adjusted diluted earnings per share were $0.39.
Adjusted EBITDA, which excludes pre-tax charges and credits, was $450 million; adjusted EBITDA margin was 13.1 percent (Exhibit 9).
Other significant pre-tax items impacting the quarter, for which we do not provide guidance, included the following:
$18 million of foreign exchange losses included in corporate expense, or $0.03 per diluted share on an after-tax basis; and
$140.2 million of increased liability payable to joint venture partners included in interest expense, or $0.31 per diluted share on an after-tax basis.