TechnipFMC Earnings Call Transcripts
Fiscal Year 2026
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Offshore project economics have been transformed through efficiency gains, a configurable subsea platform, and integrated offerings. The subsea opportunity outlook is at a record $29 billion, with robust growth expected across key global regions and continued margin expansion. Over $1 billion was returned to shareholders last year.
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The company projects sustained growth in subsea revenue and margins for 2026, driven by Subsea 2.0 adoption, operational efficiencies, and expanding offshore opportunities across multiple regions. Strong free cash flow supports robust shareholder returns, with disciplined capital allocation and minimal reliance on M&A.
Fiscal Year 2025
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Strong 2025 results featured 9% revenue growth, 33% higher Adjusted EBITDA, and record Subsea backlog. 2026 guidance calls for further margin expansion, robust free cash flow, and continued high direct award rates, driven by portfolio approaches and operational efficiencies.
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A configurable architecture and integrated project model have transformed offshore project delivery, driving customer confidence and direct awards. Consistent $10 billion annual subsea orders, margin growth, and a $2 billion buyback reflect strong performance and optimism for continued expansion.
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Q3 2025 saw $2.6B revenue and $531M adjusted EBITDA, with strong subsea orders and robust free cash flow. Guidance for 2026 subsea revenue is $9.1–$9.5B and margin expansion, with at least 70% of free cash flow to be returned to shareholders.
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A leading offshore equipment provider is leveraging its integrated offerings and Subsea 2.0 technology to drive sustained order and earnings growth, expand its customer base, and enhance project economics through innovation and operational efficiency. International surface business, especially in the Middle East, is poised for further growth.
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Q2 2025 saw $2.5B in revenue, $509M adjusted EBITDA, and strong free cash flow, with robust Subsea orders and a growing backlog. Full-year EBITDA guidance was raised to $1.8B, and over 80% of business is direct awarded, supporting margin expansion and shareholder returns.
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The conference highlighted a strategic shift to integrated, configure-to-order offshore solutions, driving efficiency and client trust. Strong order momentum and a robust project pipeline support confidence in achieving $10 billion in 2025 subsea orders, with expanding margins and innovative technologies like Subsea 2.0 and HISEPS enhancing competitiveness.
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Revenue reached $2.2B with adjusted EBITDA up 38% year-over-year and free cash flow of $380M. Backlog rose to $15.8B, and guidance for 2025 EBITDA and Subsea orders remains unchanged. Raised free cash flow outlook to $1.0–$1.15B, with limited tariff exposure.
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Offshore subsea markets are experiencing strong, sustained growth, driven by structural changes, technology innovation, and expanding global opportunities. Integration strategies and local content development are fueling market share gains, with significant revenue, order, and margin growth expected through 2026.
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Offshore subsea markets are undergoing structural change, with new opportunities and increased capital flows. A shift to standardized, configurable products and integrated project delivery has doubled efficiency and improved margins, with 70% of business now directly awarded. Strong financial outlook, innovation in all-electric systems, and disciplined risk management support continued growth.
Fiscal Year 2024
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2024 saw strong growth in orders, revenue, and margins, driven by iEPCI and Subsea 2.0 adoption, with robust free cash flow and increased shareholder returns. 2025 guidance calls for continued revenue, EBITDA, and distribution growth, supported by a high-quality backlog and strong offshore market demand.
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Offshore project economics have improved through technology, supply chain resilience, and early client collaboration, driving strong demand and high backlog visibility. Innovations in subsea systems and sustainability, combined with a capital-light model, support robust financial performance and shareholder returns.
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Q3 saw strong revenue and margin growth, record subsea backlog, and major contract wins. Full-year EBITDA guidance was raised, with 2025 subsea outlook improved to $8.3–$8.7B revenue and 18.5–20% margin. Shareholder distributions and buybacks are set to nearly double.
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Order targets through 2025 remain on track, with robust demand and growing adoption of Subsea 2.0 and iEPCI models driving efficiency and margin expansion. Electrification is advancing in CCS projects, and operational execution remains a key focus.
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Q2 2024 saw strong operational and financial results, with record backlog, robust Subsea orders, and raised full-year guidance for revenue, EBITDA, and free cash flow. Major project wins and expanding Subsea 2.0 adoption support a positive multi-year outlook.
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A customer-focused, integrated subsea model and Lean-inspired operations have driven faster, more reliable project delivery and direct awards, with robust offshore activity and strong order visibility through 2025. Technological advances in CCS and subsea processing support long-term growth.