TechnipFMC Takes a Big Step Forward
It's always hard for companies to break out of slumps, and times have been especially difficult for energy companies trying to deal with volatile prices for oil and natural gas. TechnipFMC (NYSE: FTI) helps its clients with drilling services, and given how hard it's been for exploration and production companies to commit to spending capital on new projects, the slump that TechnipFMC has been in shouldn't really come as a surprise to anyone who follows the energy industry.
Coming into Wednesday's second-quarter financial report, however, TechnipFMC investors had high hopes that the company would finally be able to post solid growth and get itself moving back in the right direction. TechnipFMC's results were even better than many had expected, and that has some shareholders more optimistic than ever that better times lie ahead for the energy services company.
Image source: TechnipFMC.
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