TechnipFMC (FTI) Company Report

TechnipFMC's iEPCI integrated model and Subsea 2.0 configurable architecture have significantly improved offshore project economics, leading to 80% of their business being direct awarded and a return of capital flow to offshore developments.
The company expects subsea orders to remain in the $10 billion range for 2025 and 2026, following a successful $30 billion three-year target (2021-2023) that included $9.7 billion and $10.3 billion in recent years.
TechnipFMC is approximately one-third of the way through its cycle time reduction journey, with over 50% of 2024 inbound orders being iEPCI or Subsea 2.0, which is projected to increase the proportion of manufacturing capacity executing Subsea 2.0 work from one-third to 50%.
The company has reauthorized a $2 billion share buyback program, considering it the optimal method to return cash to shareholders due to the company's perceived undervaluation.

Nov 18, 2025, 4:00 PM

Transcript

TechnipFMC Executives Discuss Offshore Market, Strategy, and Shareholder Returns at TD Cowen Conference

FTI

New Projects/Investments

Guidance Update

Share Buyback

TechnipFMC (FTI) emphasizes its unique Subsea 2.0 configurable architecture and iEPCI integrated model, which contribute to 80% of its business being direct awarded by customers due to improved project certainty and reduced cycle times.
The company anticipates continued growth in the offshore market, driven by new discoveries in regions such as Guyana, Suriname, Namibia, and Mozambique, and expects to maintain subsea orders in the $10 billion range for 2025 and 2026.
FTI projects growing margins and revenue through 2026, attributing this to the increasing flow of higher-value iEPCI and Subsea 2.0 projects through its execution pipeline.
TechnipFMC recently reauthorized a $2 billion share buyback program, considering it the most effective way to return cash to shareholders given the company's current valuation.

Nov 18, 2025, 4:00 PM

Transcript

TechnipFMC discusses offshore market growth, strategic differentiation, and capital allocation

FTI

New Projects/Investments

Share Buyback

Guidance Update

TechnipFMC (FTI) highlights its unique iEPCI and Subsea 2.0 architecture, which has led to 80% of its business being direct awarded and improved client project returns by significantly reducing project cycle time.
The company anticipates continued growth in the offshore market, projecting subsea orders to remain in the $10 billion range for 2025 and 2026.
FTI identifies significant growth opportunities in frontier markets such as Guyana, Suriname, Namibia, Mozambique, and the Eastern Mediterranean.
TechnipFMC has a $2 billion share buyback program, indicating confidence in the company's valuation and serving as the preferred method for returning cash to shareholders.
The company has provided 2026 guidance for increased revenue and margin, attributing this to a higher quality backlog from iEPCI and Subsea 2.0 projects.

Nov 18, 2025, 4:00 PM

Transcript

TechnipFMC Chairman and CEO Discusses Strategy, Market Outlook, and Capital Allocation

FTI

New Projects/Investments

Guidance Update

Share Buyback

TechnipFMC's unique integrated (iEPCI) and configurable Subsea 2.0 architecture is driving significant value for customers by reducing project cycle times, leading to 80% of its business being direct awarded.
The company anticipates maintaining $10 billion in annual Subsea orders for 2025 and 2026, with a growing market driven by new frontier opportunities in regions like Guyana, Suriname, and the U.S. Gulf.
TechnipFMC believes it is only about a third of the way through its journey of cycle time reduction, suggesting significant future margin upside, especially as its higher-quality backlog (50% iEPCI/Subsea 2.0 inbound in 2024) flows through manufacturing (currently only a third of capacity is Subsea 2.0).
The company recently reauthorized a $2 billion share buyback program, indicating confidence in its valuation and a preference for buybacks over dividends as a means of returning capital to shareholders.

Nov 18, 2025, 4:00 PM

Transcript

TechnipFMC Secures Subsea Systems Contract from Petrobras

FTI

New Projects/Investments

TechnipFMC has been awarded an offshore service contract by Petrobras for subsea production systems in Brazil's offshore oil and gas basins.
The contract is valued between $75 million and $250 million.
The scope of work includes the design, engineering, manufacturing, installation support, and life-of-field services for subsea production systems across Petrobras' greenfield developments, brownfield expansions, and asset revitalizations.
All systems will be manufactured and serviced locally in Brazil.

Sep 23, 2025, 9:50 PM

Morningstar

TechnipFMC Discusses Strong Order Growth and Offshore Market Resurgence

FTI

New Projects/Investments

Revenue Acceleration/Inflection

TechnipFMC expects to book $30 billion in orders over the last three years (including 2025) and anticipates another $10 billion in 2026, indicating significant backlog growth and future revenue visibility.
The company is experiencing a sustainable resurgence in the offshore market, driven by an expanding customer base and geographical reach.
Its proprietary Subsea 2.0 offering, which accounts for over 50% of current orders, is a key driver for future earnings and EBITDA margin growth due to its two times higher manufacturing efficiency compared to Subsea 1.0.
TechnipFMC's international Surface Technologies business, particularly in the Middle East, is expected to see growth in 2026.

Sep 2, 2025, 6:24 PM

TechnipFMC Awarded Flexible Pipe Contracts by Petrobras

FTI

New Projects/Investments

TechnipFMC (NYSE: FTI) has been awarded two flexible pipe contracts by Petrobras.
The first contract is "substantial", valued between $250 million and $500 million, for flexible gas injection risers in the Santos Basin.
The second contract is "significant", valued between $75 million and $250 million, for flexible risers and flowlines in the Campos Basin.
Manufacturing for both contracts will be fulfilled exclusively at TechnipFMC’s flexibles manufacturing facility in Açu, Brazil.

Sep 2, 2025, 10:45 AM

Press Release

TechnipFMC Awarded Significant Contract for Equinor's Heidrun Extension

FTI

New Projects/Investments

TechnipFMC (NYSE: FTI) has been awarded a significant iEPCI™ contract by Equinor for its Heidrun extension project in the Norwegian North Sea.
For TechnipFMC, a "significant" contract is valued between $75 million and $250 million.
This award was included in TechnipFMC's inbound orders in the second quarter of 2025.
The project is intended to enhance the current infrastructure and extend the production lifecycle for the Heidrun platform.

Jul 15, 2025, 8:15 PM

Press Release

TechnipFMC Discusses Strong 2025 Order Outlook and Growth in Emerging Markets

FTI

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

TechnipFMC is confident in achieving its $30 billion Subsea orders target over 2023-2025, which implies $9.8 billion for 2025, following a strong start in Q1 2025 with $2.8 billion in orders. The company expects H1 and H2 2025 order flow to be in a similar range.
Subsea services revenue is projected to grow from $1.65 billion in 2024 to approximately $1.8 billion in 2025, with attractive margins. The company's 2025 guide implies overall EBITDA margins of about 19.5%.
TechnipFMC sees significant growth opportunities in emerging basins such as Guyana, Suriname, the Eastern Mediterranean, and Namibia. The company is also developing new technologies, including a composite flexible pipe solution in qualification with Petrobras, and the HYSEP system for subsea CO2 separation, which is initially being used on the Mero three project.

Jun 25, 2025, 2:51 PM

TechnipFMC Q1 2025 Earnings, Governance & Incentive Updates

FTI

Earnings

Guidance Update

Executive Compensation

Share Buyback

Auditor Change

Q1 2025 Financial Performance: Revenue of $2.2–$2.23B, net income of $142M, diluted EPS of $0.33, and free cash flow of $380M .
Operational Metrics: Adjusted EBITDA of $343.8–$356M at a 15.4% margin, noting a sequential decline due to offshore seasonality .
Order & Growth Highlights: Total inbound orders of $3.1B (including $2.8B subsea) with a nearly $16B backlog, and subsea opportunities exceeding $26B over the next 24 months .
Guidance & Capital Allocation: Upgraded free cash flow guidance to $1B–$1.15B and a $250M share buyback underscores a positive outlook .
AGM Resolutions: At the April 25, 2025 Annual General Meeting, the company approved key proposals covering director elections, advisory executive compensation, and auditor appointments .
Performance Award: One-time performance-based PSU award under the 2022 Incentive Award Plan tied to ROIC and VWAP targets, including detailed forfeiture and transfer restrictions .
Risk Management: Minimal tariff impact (<$20M) with 95% of revenue generated outside the U.S. land market limits regional risk .

Apr 25, 2025, 12:00 AM

8-K Transcript Presentation 8-K

Earnings Transcripts

Quarterly earnings call transcripts for TechnipFMC.

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