FMC Tech flirts with new highs after strong Q1 report


FMC Technologies (FTI +5.6%) trades just shy of 52-week highs after Q1 earnings and revenues beat expectations.

Subsea technologies achieved a record backlog in the quarter, totaling $1.9B of FMC's total inbound orders of $2.6B; total company backlog stands at $7.8B, including subsea technologies backlog of $6.8B.

Revenues in the surface technologies segment were $479.5M, up 14% Y/Y, driven by volume growth in the international surface wellhead and North American fluid control businesses.

Sees FY 2014 EPS of $2.55-$2.75 vs. analyst consensus estimate of $2.65.

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