FMC Technologies: 4Q Earnings Snapshot

LONDON (AP) _ FMC Technologies Inc. (FTI) on Wednesday reported a loss of $2.41 billion in its fourth quarter.

The London-based company said it had a loss of $5.40 per share. Earnings, adjusted for one-time gains and costs, were 3 cents per share.

The results did not meet Wall Street expectations. The average estimate of 23 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The provider of equipment and services to energy companies posted revenue of $3.73 billion in the period, which also fell short of Street forecasts. Twenty-nine analysts surveyed by Zacks expected $3.88 billion.

For the year, the company reported that its loss widened to $2.42 billion, or $5.39 per share. Revenue was reported as $13.41 billion.

FMC Technologies shares have declined 29% since the beginning of the year, while the Standard & Poor's 500 index has dropped 3.5%. In the final minutes of trading on Wednesday, shares hit $15.24, a decline of 33% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTI at https://www.zacks.com/ap/FTI