$QEP 2Q15: We delivered significant production in the quarter and we also realized higher prices for production. Second quarter adjusted EBITDA was $279MM up 25% compared to $223MM generated in the first quarter of the year, and $368MM of adjusted EBITDA from continuing operations from the second quarter of 2014.
$FTI expects its Surface technologies division's year-over-year revenue to be down near the high end of its previously guided range of 30% to 35% versus 2015. The company expects surface technologies to be modestly profitable in 4Q16, excluding charges.
Independent oil and gas company $SWN reported a narrower 3Q16 loss driven by lower impairment expenses of natural gas and oil properties as well as lower operating costs and expenses. Net loss narrowed to $735MM or $1.52 per share from $1.77Bil or $4.62 per share last year. Operating revenues fell to $651MM from $749MM.
In 3Q16, $PYPL's Merchant Services payment volume totaled $73Bil, up
34% YoverY on an FX-neutral basis. The company processed $26Bil in mobile
payments, up 56% over last year. $PYPL is on track to process well over $100Bil
in mobile payment volume in the next 12 months.
$FTI forecast full-year revenue for its Subsea technologies division to be about $3.3Bil. The company expects full-year Subsea margins to exceed 13%, excluding charges. $FTI said there will be headcount reductions in 4Q16, but it does not anticipate any material restructuring charges by these actions in the quarter.