The oil services group reported a net loss of $19 million in the first quarter and not its expected gain of $191 million. An oversight cost the stock a percentage equal to 8,3% on the Paris Stock Exchange at the start of quotations on Tuesday morning. At the close of the day, the stock recovered with a loss of around 2%.
"Disorder has been made" is the comment of the financial analysts in charge of following Technip FMC, in front of the statement of the group released to the SEC (Securities and Exchange Commission). A first quarter that ends with a significant error for the company born from the merger of the French Technip and the American FMC. It was the interim report, which is due to be published tomorrow, after the close of the New York Stock Exchange, which made the error in the exchange rates used clear to the Board of Directors, which led to an overestimation of net profit by 209 million of dollars.
According to analysts' comments, it would be an event that is not seen often, but not too serious. In fact, the impact would not fall so much on liquidity as on the trust and credibility that investors place in the brand and which could falter following the latest events.
There were no statements from the company after Tuesday morning.
