TechnipFMC beats third-quarter estimates and lifts its Subsea revenue outlook
The company also gave a first revenue range for its Subsea business in 2027, of $10.0 billion to $10.4 billion.
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TechnipFMC reported third-quarter earnings of $1.05 a share, $0.16 above expectations. Revenue came in at $2.90 billion, against $2.82 billion expected.
The company raised its 2026 revenue range for Subsea, its subsea business, to $9.6 billion to $9.8 billion. The previous range was $9.2 billion to $9.6 billion. It also raised its 2026 free cash flow range to $1.45 billion to $1.55 billion, from $1.3 billion to $1.45 billion. It lowered its expected 2026 effective tax rate to 25 to 27 per cent, from 27 to 31 per cent.
Doug Pferdehirt, the chair and chief executive, said the quarter reflected strong operational performance and consistent execution. He said the company expects Subsea orders of at least $14.5 billion over the next five quarters, including 2027.
The company also gave its first Subsea revenue range for 2027, of $10.0 billion to $10.4 billion, with an adjusted EBITDA margin of 22.5 to 24 per cent. That range extends the outlook a year past 2026. The expected orders would need to keep pace with it. Higher free cash flow and a lower tax rate add to the earnings base, but the revenue raises carry most of the weight. If orders fall short, the gap would likely show up first in the 2027 range.
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