TechnipFMC PLC

FTI

Equity

ISIN GB00BDSFG982 / Valor 35308137

New York Stock Exchange, Inc (2024-12-26)

USD 29.16+0.24%

TechnipFMC PLC
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About company

TechnipFMC PLC is a publicly traded company with two main business units, Subsea and Surface Technologies. Surface Technologies focuses on serving the onshore and shallow water markets by supplying a wide range of equipment and services, including wellheads, surface trees, drilling, completions, pressure pumping, production, and measurement equipment. The company's technologies aim to reduce costs and carbon intensity through actionable data and automation. In the Subsea business unit, TechnipFMC offers a comprehensive range of services spanning the full life of the field, from planning field developments to life of field services. The company is known for its integrated Engineering, Procurement, Construction, and Installation (iEPCI™) model, which simplifies development and installation, reduces risk, and accelerates time to first oil and gas production. Additionally, TechnipFMC's integrated Front End Engineering and Design (iFEED™) teams work closely with clients to optimize projects utilizing subsea production systems and other technologies.

Summarized from source with an LLMView SourceSector: Business Services

Revenue Growth

In the third quarter of 2024, TechnipFMC PLC reported a total company revenue of $2,348.4 million. This represents a significant increase compared to the same period in the previous year, showcasing the company's strong performance and growth in its operations.

Net Income and Earnings

TechnipFMC PLC achieved a net income of $274.6 million for the third quarter of 2024, translating to $0.63 per diluted share. The adjusted net income was slightly higher at $280.5 million, or $0.64 per diluted share, reflecting the company's effective financial management and operational efficiency.

Record Backlog

The company's backlog reached a record high of $14.7 billion in the third quarter of 2024, with the Subsea segment contributing $13.7 billion. This substantial backlog indicates a strong demand for TechnipFMC's services and a positive outlook for future revenue streams.

Share Repurchase Program

TechnipFMC PLC announced an increase in its share repurchase authorization by $1 billion, bringing the total authorization to $1.2 billion. This move underscores the company's commitment to returning value to shareholders and confidence in its financial stability and future prospects.

Subsea Financial Performance

In the third quarter of 2024, the Subsea segment reported revenue of $2,028.1 million, marking a 0.9% increase from the previous quarter. The segment's operating profit was $288.8 million, with an adjusted EBITDA of $371 million, reflecting strong project execution and an improved earnings mix from the backlog.

Summarized from source with an LLMView Source

Key figures

42.9%1Y

449%3Y

98.1%5Y

Performance

32.0%1Y

43.9%3Y

54.6%5Y

Volatility