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Could Guidance Change Affect TechnipFMC in 2017?

PART:
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Part 5
Could Guidance Change Affect TechnipFMC in 2017? PART 5 OF 6

What’s Happening to TechnipFMC’s Net Debt after 3Q17?

TechnipFMC’s net debt

In 3Q17, TechnipFMC’s (FTI) total debt fell 3% compared to the previous quarter. Its cash and marketable securities fell 4% during the same period. In effect, FTI’s negative net debt fell 4% on September 30, 2017, compared to the previous quarter.

Cash and marketable securities exceeded FTI’s total debt in the past three quarters until 3Q17. FTI’s net debt was negative in the past three quarters until 3Q17. Net debt is aggregate short-term and long-term debt less cash and marketable securities.What’s Happening to TechnipFMC’s Net Debt after 3Q17?

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Net debt for FTI’s peers

National Oilwell Varco’s (NOV) net debt on September 30, 2017, was $1.5 billion. McDermott International’s (MDR) net debt was $124 million, and Fairmount Santrol Holdings’ (FMSA) net debt was $606 million as of the same date.

TechnipFMC makes up 6.1% of the VanEck Vectors Oil Services ETF (OIH). Since September 29, 2017, OIH has fallen 1% compared to a 4% rise in FTI stock.

TechnipFMC’s debt

TechnipFMC’s net debt to adjusted TTM (trailing 12-month) EBITDA (earnings before interest, tax, depreciation, and amortization), or indebtedness, wasn’t meaningful as a result of negative net debt.

Next, we’ll take a look at TechnipFMC’s free cash flows.

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