US rig count
In 2016 through 2Q16, the US rig count fell 51%. It reached a multiyear high in September 2014. Since then, it has fallen 73% through September 30, 2016.
From June 30 to September 30, 2016, the US rig count turned the corner, rising 24%. A higher US rig count is expected to improve FMC Technologies’ (FTI) revenues and earnings in 3Q16.
Revenues in the United States
In 2015, FMC Technologies’ (FTI) US revenue share fell marginally over a year ago. In 2015, its revenue from the United States fell to 30% of its total revenue compared to 31% in 2014. By comparison, Nabors Industries’ (NBR) revenue from the United States in 2015 was 47%.
From 2011 to 2014, FTI’s US revenue share rose. FTI makes up 0.08% of the iShares MSCI KLD 400 Social (DSI). The energy sector is 6.4% of DSI.
Next, we’ll take a look at FTI’s international rig count and its revenues from international operations.