TechnipFMC reported first-quarter 2026 revenue of US$2.49 billion, with net income attributable to the company at US$260.5 million, according to results released today.
Earnings per diluted share stood at US$0.64. Adjusted net income was US$260.9 million. Adjusted earnings before interest, taxes, depreciation and amortization reached US$466 million, with a margin of 18.7%. Excluding a US$12.8 million foreign exchange gain, adjusted earnings before interest, taxes, depreciation and amortization were US$453.2 million.
Doug Pferdehirt, Chair and Chief Executive Officer of TechnipFMC, said, “Our quarterly results reflect strong operational performance throughout the Company, driven by solid execution. This early momentum positions us well to achieve our full-year financial targets.”
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He added, “Total Company revenue in the period was US$2.5 billion. Adjusted EBITDA was US$453 million, with a margin of 18.2 percent when excluding foreign exchange. Free cash flow was US$277 million, with total shareholder distributions of $285 million in the quarter.”
Subsea inbound orders totaled US$1.9 billion for the quarter. Pferdehirt said, “Subsea orders in the quarter were…driven by robust services and unannounced project activity.”
He said the company expects continued order growth. On operations in the Middle East, Pferdehirt said, “We took immediate and comprehensive measures to ensure the safety of our teams in the region. We were able to operate safely, with minimal disruption.”
The company’s Subsea Opportunities List reached about US$30 billion for potential awards over the next 24 months.
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Subsea revenue for the quarter was US$2.21 billion, with operating profit rising 29.3% to US$349 million. Adjusted EBITDA increased to US$440.7 million.
Surface Technologies generated US$284.3 million in revenue, down 11.9% from the previous quarter, mainly due to the timing of activity in the Middle East. Operating profit was US$37.1 million.
Pferdehirt said the company is focused on efficiency, noting, “We remain focused on the relentless pursuit of the reduction of cycle time.”
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 ExxonMobil’s Liza 1 project.
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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.
