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TechnipFMC plc (NYSE:FTI), a global leader in oil and gas projects, technologies, systems, and services with a market capitalization of $11.5 billion, announced the results of its Annual General Meeting (AGM) held on Monday. The company, which has demonstrated strong financial health according to InvestingPro analysis, has achieved impressive revenue growth of 14% over the last twelve months. Shareholders voted on several key proposals, including the election of directors, executive compensation, and the appointment of auditors.
All nine director nominees were elected to serve until the 2026 AGM or until their earlier departure. The election saw a high approval rate, with each director receiving at least 98.85% votes in favor. Douglas J. Pferdehirt, the company’s CEO, was re-elected with 97.78% approval.
The non-binding advisory resolutions on executive compensation for the year ended December 31, 2024, received strong support, with 98.27% of votes in favor. This strong shareholder support aligns with the company’s solid financial performance, as InvestingPro data shows the company maintains moderate debt levels and has generated net income of $854.5 million in the last twelve months. Additionally, shareholders advised on the frequency of future Say-on-Pay proposals, with 98.58% preferring an annual vote.
The directors’ remuneration report for 2024 was approved with 98.51% of votes in favor, and the prospective directors’ remuneration policy for the next three years was also approved, albeit with a lower approval rate of 84.27%. The policy includes a one-time Value Creation Plan (VCP) designed to incentivize key executives, capped at 3,600,000 performance-based restricted stock units (PSUs), which are subject to certain performance goals.
Shareholders ratified the appointment of PricewaterhouseCoopers LLP (PwC) as the company’s U.S. independent registered public accounting firm for 2025 and reappointed PwC as the U.K. statutory auditor, with both proposals receiving over 99.5% approval.
Additionally, the board was authorized to allot equity securities and to allot equity securities without pre-emptive rights, with 99.05% and 98.24% approval, respectively.
The receipt of the company’s audited U.K. accounts, including the reports of the directors and the auditor for 2024, was acknowledged with nearly unanimous support.
TechnipFMC’s AGM results demonstrate shareholder confidence in the company’s governance and strategic direction. Trading at a P/E ratio of 14 and currently showing signs of being undervalued according to InvestingPro Fair Value analysis, the company appears well-positioned for future growth. These outcomes are based on a press release statement and reflect the shareholders’ support for the company’s leadership and financial management. For deeper insights into TechnipFMC’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, TechnipFMC reported its first-quarter earnings for 2025, revealing an earnings per share (EPS) of $0.33, which was slightly below the forecasted $0.35. The company’s revenue also fell short of expectations, coming in at $2.23 billion against a forecast of $2.26 billion. Despite these misses, the company maintains a positive outlook, expecting over $10 billion in subsea inbound orders this year. Analyst feedback has been generally positive, with firms like Barclays (LON:BARC) and JPMorgan Securities expressing confidence in TechnipFMC’s strategic direction and market positioning. The company also announced a strategic alliance with Cairn Oil and Gas to deliver future deepwater developments offshore India. Additionally, TechnipFMC’s CEO, Doug Ferdijerd, emphasized the company’s strong market position and the importance of reliable project execution during the earnings call. The company remains optimistic about its future, maintaining an EBITDA guidance of $1.76 billion for 2025.
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