TechnipFMC reported total revenue of US$2,233.6 million in the first quarter of 2025, with net income (attributable to the company) of US$142 million, or US$0.33 per diluted share.
TechnipFMC said its after-tax charges and credits totaled US$0.9 million in expenses. Adjusted net income was US$142.9 million, or US$0.33 per diluted share. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) reached US$343.8 million, with a margin of 15.4%. Technip’s adjusted EBITDA rose to US$355.9 million excluding foreign exchange impacts.
Chair and Chief Executive Officer Doug Pferdehirt stated, “I’m pleased to share another strong set of financial results to start the year.”
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Subsea inbound orders reached US$2.8 billion, with a book-to-bill ratio 1.4x. Orders exceeded revenue in eight of the past nine quarters, he explained. TechnipFMC secured iEPCI™ projects from Equinor and Shell, with the latter using Subsea 2.0® technology offshore Brazil. A new strategic alliance was announced with Cairn Oil & Gas for future deepwater work offshore India.
The company’s subsea opportunities list now totals over US$26 billion in potential inbound over the next two years. This value reflects nearly 20% growth year-over-year and has risen for three consecutive quarters. Pferdehirt noted that new frontiers—Guyana, Suriname, Namibia, Mozambique, and Cyprus—support long-term growth. “These all present long-term opportunities with development lifecycles that extend well beyond the end of the decade,” he added.
Pferdehirt said offshore remains a preferred investment for operators due to improved economic returns. TechnipFMC is targeting over US$10 billion in subsea inbound orders for 2025.
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Surface Technologies growth is being led by international markets, with 95% of 2025 revenue expected outside U.S. land. Exposure to new tariffs is limited and expected to impact adjusted EBITDA by less than US$20 million in 2025. Product-related revenue in U.S. land and Gulf operations will bear most of this impact.
TechnipFMC’s backlog now totals US$15.8 billion. “Our exceptional execution is driving robust free cash flow,” said Pferdehirt. The company remains committed to increasing shareholder distributions and share repurchases.
“Our opportunity set is deep and diverse,” Pferdehirt concluded.
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The company has been a major player in Guyana’s oil and gas sector since securing its first subsea production system contract in 2017 for Exxon’s Liza 1 project. For projects in Guyana, TechnipFMC provides Enhanced Vertical Deepwater Trees (EVDTs), Tooling, Manifolds, Controls and Tie-in Equipment and Life of Field Services. TechnipFMC is expected to supply 400 subsea trees in the period 2024-2029, with 35% for Exxon’s Guyana developments.
