Oilfield Services Q1 Earnings: TechnipFMC Misses Revenue, Select Water Solutions Leads, Borr Drilling Lags

Earnings
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Summary · why it matters

Oilfield services stocks reported a strong first quarter, with aggregate revenues beating analyst consensus estimates by 3.8%, though share prices have since fallen an average of 10.3%. TechnipFMC posted revenue of $2.49 billion, up 11.6% year on year but missing expectations by 1%, and its stock dropped 15.4% to $65.12. Select Water Solutions was the best performer, with revenue of $366 million exceeding estimates by 6.8%, while Borr Drilling was the weakest, missing revenue estimates by 2.1% and seeing its stock plunge 31.4% to $4.24. Other notable results included Atlas Energy Solutions beating revenue estimates by 3.5% and TETRA Technologies beating by 3.4%.

Impact on stocks 5

Energy± Mixed · 5 stocks
TechnipFMC PLC
FTI
▼ NegativeCapitalrelevance

TechnipFMC missed revenue expectations by 1% and its stock dropped 15.4%.