<\/p>\n
\nTechnipFMC Announces Third-Quarter 2026 Results<\/p>\n
NEWCASTLE & HOUSTON–(BUSINESS WIRE<\/a>)–
\nTechnipFMC plc (NYSE: FTI) (the \u201cCompany\u201d or \u201cTechnipFMC\u201d) today reported third-quarter 2026 results.<\/p>\n
| \n Summary Financial Results from Continuing Operations<\/b><\/p>\n<\/td>\n<\/tr>\n Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n Change<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except per share amounts)<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n Jun. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n Sequential<\/b><\/p>\n<\/td>\n Year-over-Year<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n$2,895.8<\/p>\n<\/td>\n \n$2,763.1<\/p>\n<\/td>\n \n$2,647.3<\/p>\n<\/td>\n \n4.8%<\/p>\n<\/td>\n \n9.4%<\/p>\n<\/td>\n<\/tr>\n Net income<\/b><\/p>\n<\/td>\n \n$418.4<\/p>\n<\/td>\n \n$362.7<\/p>\n<\/td>\n \n$309.7<\/p>\n<\/td>\n \n15.4%<\/p>\n<\/td>\n \n35.1%<\/p>\n<\/td>\n<\/tr>\n Net income margin<\/b><\/p>\n<\/td>\n \n14.4%<\/p>\n<\/td>\n \n13.1%<\/p>\n<\/td>\n \n11.7%<\/p>\n<\/td>\n \n130 bps<\/p>\n<\/td>\n \n270 bps<\/p>\n<\/td>\n<\/tr>\n Diluted earnings per share<\/b><\/p>\n<\/td>\n \n$1.05<\/p>\n<\/td>\n \n$0.90<\/p>\n<\/td>\n \n$0.75<\/p>\n<\/td>\n \n16.7%<\/p>\n<\/td>\n \n40.0%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n \n$627.8<\/p>\n<\/td>\n \n$581.9<\/p>\n<\/td>\n \n$518.9<\/p>\n<\/td>\n \n7.9%<\/p>\n<\/td>\n \n21.0%<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA margin<\/b><\/p>\n<\/td>\n \n21.7%<\/p>\n<\/td>\n \n21.1%<\/p>\n<\/td>\n \n19.6%<\/p>\n<\/td>\n \n60 bps<\/p>\n<\/td>\n \n210 bps<\/p>\n<\/td>\n<\/tr>\n Adjusted net income<\/b><\/p>\n<\/td>\n \n$418.8<\/p>\n<\/td>\n \n$367.1<\/p>\n<\/td>\n \n$312.1<\/p>\n<\/td>\n \n14.1%<\/p>\n<\/td>\n \n34.2%<\/p>\n<\/td>\n<\/tr>\n Adjusted diluted earnings per share<\/b><\/p>\n<\/td>\n \n$1.05<\/p>\n<\/td>\n \n$0.91<\/p>\n<\/td>\n \n$0.75<\/p>\n<\/td>\n \n15.4%<\/p>\n<\/td>\n \n40.0%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Inbound orders<\/b><\/p>\n<\/td>\n \n$2,319.5<\/p>\n<\/td>\n \n$2,726.6<\/p>\n<\/td>\n \n$2,648.1<\/p>\n<\/td>\n \n(14.9%)<\/p>\n<\/td>\n \n(12.4%)<\/p>\n<\/td>\n<\/tr>\n Backlog<\/b><\/p>\n<\/td>\n \n$16,065.8<\/p>\n<\/td>\n \n$16,440.0<\/p>\n<\/td>\n \n$16,813.6<\/p>\n<\/td>\n \n(2.3%)<\/p>\n<\/td>\n \n(4.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nTotal Company revenue in the third quarter was $2,895.8 million. Net income attributable to TechnipFMC was $418.4 million, or $1.05 per diluted share. Adjusted net income was $418.8 million, or $1.05 per diluted share.<\/p>\n \nAdjusted EBITDA, which excludes pre-tax charges and credits, was $627.8 million; adjusted EBITDA margin was 21.7 percent (Exhibit 8).<\/p>\n \nIncluded in total Company results was a foreign exchange loss of $8.6 million, or a loss of $8 million after-tax. When excluding the after-tax impact of the foreign exchange loss, net income was $426.4 million.<\/p>\n \nAdjusted EBITDA, excluding the foreign exchange loss of $8.6 million, was $636.4 million (Exhibit 8).<\/p>\n \nDoug Pferdehirt, Chair and CEO of TechnipFMC, remarked, \u201cOur quarterly results reflect strong operational performance throughout the organization. Total Company revenue in the period was $2.9 billion, with adjusted EBITDA of $636 million, when excluding foreign exchange impacts. We generated free cash flow of $470 million. These results reflect consistency in our execution and reinforce customer trust and confidence in our capabilities.\u201d<\/p>\n \n\u201cWe recently achieved several operational milestones, all further strengthening our track record of client success in advancing offshore projects. We delivered the first Subsea 2.0\u00ae<\/sup> tree for Chevron\u2019s Gorgon Stage 3 project, representing the first tree delivered under our 20-year Subsea 2.0\u00ae<\/sup> frame agreement. We also celebrated the manufacture and delivery of the 200th subsea tree for ExxonMobil in Guyana. These examples highlight the collective efforts of our global teams, delivering projects on schedule\u2014and in many cases ahead of schedule\u2014giving our customers greater confidence in sanctioning offshore projects.\u201d<\/p>\n \nPferdehirt continued, \u201cTurning to inbound orders, we announced three Subsea awards for the third quarter. We secured multiple contracts to supply flexible pipe systems, the first for Azule Energy in Angola, and the second for Petrobras in support of multiple pre-salt fields in Brazil. We were also awarded an integrated contract from PETRONAS for the Limbayong project, one of three iEPCI\u00ae<\/sup> awards in the period. Subsea orders in the quarter totaled $2.1 billion.\u201d<\/p>\n \nPferdehirt added, \u201cWe continue to enhance our customer relationships through collaborative partnerships. Our recent Strategic Collaboration Agreement with PETRONAS establishes TechnipFMC as their deepwater development partner, creating potential opportunities for growth across multiple projects over the coming years. We also announced a Memorandum of Understanding last week with bp, under which TechnipFMC will be the preferred strategic supplier of 20K systems for their Paleogene program in the Gulf of America.\u201d<\/p>\n \n\u201cBoth of these agreements exemplify our focus on client relationships and reinforce the value of customer engagement. These relationships become increasingly more valuable as clients adopt a portfolio approach to offshore development, optimizing opportunities across their entire asset base rather than simply advancing individual projects.\u201d<\/p>\n \nPferdehirt continued, \u201cLooking ahead, we remain optimistic about the durability of the subsea market. We have high visibility, supported by a sustained increase in deepwater activity\u2014with significantly improved project economics\u2014and a shift in operator capital toward prolific, high-quality offshore reservoirs. This outlook is reflected in our Subsea Opportunities List, which has increased for the ninth consecutive quarter to $32 billion, when using the midpoint of project values.\u201d<\/p>\n \nPferdehirt concluded, \u201cThe robust pipeline of opportunities supports our expectation for further growth, and if we extend our view to include 2027, we expect Subsea orders over the next five quarters to be at least $14.5 billion. The momentum in order growth should also lift the quality of our inbound, with substantially more Subsea 2.0\u00ae<\/sup>, iEPCI\u00ae<\/sup>, and direct awards expected in the year ahead. We also believe this marks the beginning of a sustained wave of activity that will extend beyond the end of the decade.\u201d<\/p>\n Operational and Financial Highlights<\/b><\/p>\n<\/td>\n<\/tr>\n Subsea<\/b><\/p>\n<\/td>\n<\/tr>\n Financial Highlights<\/b><\/p>\n<\/td>\n<\/tr>\n Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n Change<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions)<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n Jun. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n Sequential<\/b><\/p>\n<\/td>\n Year-over-Year<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n$2,600.0<\/p>\n<\/td>\n \n$2,486.9<\/p>\n<\/td>\n \n$2,319.2<\/p>\n<\/td>\n \n4.5%<\/p>\n<\/td>\n \n12.1%<\/p>\n<\/td>\n<\/tr>\n Operating profit<\/b><\/p>\n<\/td>\n \n$522.6<\/p>\n<\/td>\n \n$486.5<\/p>\n<\/td>\n \n$401.3<\/p>\n<\/td>\n \n7.4%<\/p>\n<\/td>\n \n30.2%<\/p>\n<\/td>\n<\/tr>\n Operating profit margin<\/b><\/p>\n<\/td>\n \n20.1%<\/p>\n<\/td>\n \n19.6%<\/p>\n<\/td>\n \n17.3%<\/p>\n<\/td>\n \n50 bps<\/p>\n<\/td>\n \n280 bps<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n \n$611.6<\/p>\n<\/td>\n \n$577.2<\/p>\n<\/td>\n \n$505.6<\/p>\n<\/td>\n \n6.0%<\/p>\n<\/td>\n \n21.0%<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA margin<\/b><\/p>\n<\/td>\n \n23.5%<\/p>\n<\/td>\n \n23.2%<\/p>\n<\/td>\n \n21.8%<\/p>\n<\/td>\n \n30 bps<\/p>\n<\/td>\n \n170 bps<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Inbound orders<\/b><\/p>\n<\/td>\n \n$2,051.5<\/p>\n<\/td>\n \n$2,507.1<\/p>\n<\/td>\n \n$2,381.5<\/p>\n<\/td>\n \n(18.2%)<\/p>\n<\/td>\n \n(13.9%)<\/p>\n<\/td>\n<\/tr>\n Backlog1,2,3<\/sup><\/b><\/p>\n<\/td>\n \n$15,487.0<\/p>\n<\/td>\n \n$15,833.2<\/p>\n<\/td>\n \n$16,038.2<\/p>\n<\/td>\n \n(2.2%)<\/p>\n<\/td>\n \n(3.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Estimated Consolidated Backlog Scheduling<\/b><\/p>\n (In millions)<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n<\/tr>\n 2026 (3 months)<\/b><\/p>\n<\/td>\n \n$1,922<\/p>\n<\/td>\n<\/tr>\n 2027<\/b><\/p>\n<\/td>\n \n$6,057<\/p>\n<\/td>\n<\/tr>\n 2028 and beyond<\/b><\/p>\n<\/td>\n \n$7,508<\/p>\n<\/td>\n<\/tr>\n Total<\/b><\/p>\n<\/td>\n \n$15,487<\/p>\n<\/td>\n<\/tr>\n 1<\/sup> Backlog as of September 30, 2026 was increased by a foreign exchange impact of $202 million.<\/i><\/p>\n<\/td>\n<\/tr>\n 2<\/sup><\/i><\/b>Backlog does not capture all revenue potential for Subsea Services.<\/i><\/p>\n<\/td>\n<\/tr>\n 3<\/sup><\/i><\/b>Backlog as of September 30, 2026 does not include total Company non-consolidated backlog of $384 million.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nSubsea reported third-quarter revenue of $2,600 million, an increase of 4.5 percent from the second quarter. The sequential revenue improvement was driven by increased project activity, specifically iEPCI\u00ae<\/sup> projects in Indonesia and Brazil, as well as increased services activity. The revenue increase was partially offset by lower project activity in Norway.<\/p>\n \nSubsea reported an operating profit of $522.6 million, an increase of 7.4 percent when compared to the second quarter. Operating results improved sequentially due to strong execution and higher project and services activity. Operating profit margin increased 50 basis points to 20.1 percent.<\/p>\n \nSubsea reported adjusted EBITDA of $611.6 million, an increase of 6 percent when compared to the second quarter. The factors impacting operating profit also drove the sequential increase in adjusted EBITDA. Adjusted EBITDA margin increased 30 basis points to 23.5 percent.<\/p>\n \nSubsea inbound orders were $2,051.5 million for the quarter. Book-to-bill in the period was 0.8x. The following awards were included in the period:<\/p>\n \nPartnership and Alliance Highlights<\/p>\n Surface Technologies<\/b><\/p>\n<\/td>\n<\/tr>\n Financial Highlights<\/b>\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n Change<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions)<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n Jun. 30,<\/b><\/p>\n 2026<\/b><\/p>\n<\/td>\n Sep. 30,<\/b><\/p>\n 2025<\/b><\/p>\n<\/td>\n Sequential<\/b><\/p>\n<\/td>\n Year-over-Year<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n \n$295.8<\/p>\n<\/td>\n \n$276.2<\/p>\n<\/td>\n \n$328.1<\/p>\n<\/td>\n \n7.1%<\/p>\n<\/td>\n \n(9.8%)<\/p>\n<\/td>\n<\/tr>\n Operating profit<\/b><\/p>\n<\/td>\n \n$41.4<\/p>\n<\/td>\n \n$39.0<\/p>\n<\/td>\n \n$36.8<\/p>\n<\/td>\n \n6.2%<\/p>\n<\/td>\n \n12.5%<\/p>\n<\/td>\n<\/tr>\n Operating profit margin<\/b><\/p>\n<\/td>\n \n14.0%<\/p>\n<\/td>\n \n14.1%<\/p>\n<\/td>\n \n11.2%<\/p>\n<\/td>\n \n(10 bps)<\/p>\n<\/td>\n \n280 bps<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n \n$53.3<\/p>\n<\/td>\n \n$50.0<\/p>\n<\/td>\n \n$53.8<\/p>\n<\/td>\n \n6.6%<\/p>\n<\/td>\n \n(0.9%)<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA margin<\/b><\/p>\n<\/td>\n \n18.0%<\/p>\n<\/td>\n \n18.1%<\/p>\n<\/td>\n \n16.4%<\/p>\n<\/td>\n \n(10 bps)<\/p>\n<\/td>\n \n160 bps<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Inbound orders<\/b><\/p>\n<\/td>\n \n$268.0<\/p>\n<\/td>\n \n$219.5<\/p>\n<\/td>\n \n$266.6<\/p>\n<\/td>\n \n22.1%<\/p>\n<\/td>\n \n0.5%<\/p>\n<\/td>\n<\/tr>\n Backlog<\/b><\/p>\n<\/td>\n \n$578.8<\/p>\n<\/td>\n \n$606.8<\/p>\n<\/td>\n \n$775.4<\/p>\n<\/td>\n \n(4.6%)<\/p>\n<\/td>\n \n(25.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nSurface Technologies reported third-quarter revenue of $295.8 million, an increase of 7.1 percent from the second quarter. The sequential increase in revenue was driven primarily by higher activity in the Middle East, along with higher completion activity in North America.<\/p>\n \nSurface Technologies reported operating profit of $41.4 million, an increase of 6.2 percent versus the second quarter. Operating profit improved sequentially due to higher activity in the Middle East and North America. Operating profit margin decreased 10 basis points to 14 percent.<\/p>\n \nSurface Technologies reported adjusted EBITDA of $53.3 million, an increase of 6.6 percent when compared to the second quarter. The factors impacting operating profit also drove the sequential increase in adjusted EBITDA. Adjusted EBITDA margin decreased 10 basis points to 18 percent.<\/p>\n \nInbound orders for the quarter were $268 million. Backlog ended the period at $578.8 million.<\/p>\n Corporate and Other Items <\/b>(three months ended September 30, 2026)<\/p>\n \nCorporate expense was $28.8 million.<\/p>\n \nForeign exchange loss was $8.6 million.<\/p>\n \nNet interest expense was $3.6 million.<\/p>\n \nThe provision for income taxes was $104.3 million.<\/p>\n \nTotal depreciation and amortization was $100.7 million.<\/p>\n \nCash provided by operating activities was $530.7 million. Capital expenditures were $61 million. Free cash flow was $469.7 million (Exhibit 11).<\/p>\n \nDuring the quarter, the Company repurchased 4.4 million of its ordinary shares for total consideration of $320 million. When including a dividend payment of $19.5 million, total shareholder distributions in the quarter were $339.5 million.<\/p>\n \nThe Company ended the period with cash and cash equivalents of $1,049.3 million, with net cash of $645.3 million (Exhibit 10).<\/p>\n 2026 Full-Year Financial Guidance1<\/sup><\/b><\/p>\n \nThe Company\u2019s full-year financial guidance for 2026 can be found in the table below. Updates to the previous guidance issued on February 19, 2026 are as follows:<\/p>\n 2026 Guidance (As of October 29, 2026)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Subsea<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Surface Technologies<\/b><\/p>\n<\/td>\n<\/tr>\n \nRevenue in a range of $9.6 – 9.8 billion<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nRevenue in a range of $1.15 – 1.3 billion<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA margin in a range of 21 – 22%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nAdjusted EBITDA margin in a range of 16.5 – 18%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Corporate and Other<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Corporate expense, net<\/b> $115 – 125 million<\/p>\n<\/td>\n<\/tr>\n (excludes charges and credits)<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net interest expense<\/b> $10 – 20 million<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Effective tax rate<\/b> 25 – 27%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Capital expenditures<\/b> approximately $340 million<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Free cash flow2<\/sup><\/b> $1.45 – 1.55 billion<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n 1<\/sup> Our guidance measures of adjusted EBITDA margin, free cash flow and corporate expense, net, excluding charges and credits are non-GAAP financial measures. We are unable to provide a reconciliation to comparable GAAP financial measures on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from each such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.<\/p>\n<\/td>\n<\/tr>\n 2<\/sup> Free cash flow is calculated as cash flow from operations less capital expenditures.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n 2027 Full-Year Subsea Financial Guidance<\/b><\/p>\n \nThe Company\u2019s full-year Subsea financial guidance for 2027 is as follows:<\/p>\n \nAll other financial guidance for 2027 will be provided in the Company\u2019s fourth-quarter 2026 earnings release.<\/p>\n Teleconference<\/b><\/p>\n \nThe Company will host a teleconference on Thursday, October 29, 2026 to discuss the third-quarter 2026 financial results. The call will begin at 12:30 p.m. London time (8:30 a.m. New York time). Webcast access and an accompanying presentation can be found at www.TechnipFMC.com<\/a><\/span>.<\/p>\n \nAn archived audio replay will be available after the event at the same website address. In the event of a disruption of service or technical difficulty during the call, information will be posted on our website.<\/p>\n About TechnipFMC<\/i><\/b><\/p>\n TechnipFMC is a leading technology provider to the traditional and new energy industries; delivering fully integrated projects, products, and services.<\/i><\/p>\n With our proprietary technologies and comprehensive solutions, we are transforming our clients\u2019 project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.<\/i><\/p>\n |