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Why TechnipFMC Stock Is Rallying Today

TheMotleyFool

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Shares of TechnipFMC (NYSE: FTI) surged more than 13% by 2:30 p.m. EST on Thursday. Fueling the energy stock was its fourth-quarter results and outlook for 2021 and beyond.

TechnipFMC reported an adjusted loss of $0.05 per share during the fourth quarter, which missed the analysts' consensus estimate by $0.16 per share. However, that's mainly due to an expense related to increased liability to joint venture partners, which cost it $0.12 per share during the quarter. Further, the quarter included the results of Technip Energies, which the company spun off earlier this month. That transaction transformed both companies into industry-leading pure plays.

Image source: Getty Images.

Source Fool.com

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