TechnipFMC beats third-quarter estimates and raises its 2026 Subsea revenue guidance
The company also lifted its free cash flow outlook, cut its expected tax rate and gave a first revenue range for 2027.
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TechnipFMC beat third-quarter estimates and raised its 2026 Subsea revenue guidance to $9.6 billion to $9.8 billion, up from $9.2 billion to $9.6 billion. Earnings were $1.05 a share, $0.16 better than expected. Revenue was $2.90 billion against $2.82 billion expected.
The company also raised its 2026 free cash flow guidance 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%, from 27% to 31%.
For 2027, TechnipFMC gave Subsea revenue guidance of $10.0 billion to $10.4 billion, with an adjusted EBITDA margin of 22.5% to 24%. EBITDA is earnings before interest, tax, depreciation and amortisation.
Chair and CEO Doug Pferdehirt 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.
Those orders have to keep pace with the new 2027 range. The higher cash flow outlook and 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 first in the 2027 range.
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