TechnipFMC Beats on Q3, Raises 2026 Subsea and Free Cash Flow Guidance, Sets 2027 Outlook
FTI sits 78% above its 52-week low of $40.52.
Summary
TechnipFMC reported Q3 revenue of $2.9 billion and $1.05 diluted EPS, then raised 2026 Subsea revenue and free cash flow guidance and initiated 2027 Subsea guidance of $10.0-$10.4 billion in revenue.
Key Events · Earnings and Guidance · FTI
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Q3 Results Beat Year-Over-Year
Revenue of $2,895.8 million rose 9.4% year-over-year, and diluted EPS of $1.05 climbed 40.0% from $0.75, with net income of $418.4 million up 35.1%.
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2026 Guidance Raised
Subsea revenue guidance was lifted to $9.6-$9.8 billion from $9.2-$9.6 billion and free cash flow to $1.45-$1.55 billion from $1.3-$1.45 billion; the effective tax rate was cut to 25-27% from 27-31%.
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First 2027 Subsea Guidance
Subsea revenue of $10.0-$10.4 billion at a 22.5-24.0% adjusted EBITDA margin, with at least $14.5 billion of Subsea orders expected over the next five quarters including 2027.
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Orders and Backlog Soften
Total inbound orders of $2,319.5 million fell 14.9% sequentially and 12.4% year-over-year; Subsea book-to-bill was 0.8x and total backlog eased 2.3% to $16,065.8 million.
Analysis · FTI · Energy & Transportation
The guidance delta, not the headline EPS, is what changes the earnings trajectory here. Q3 revenue of $2.9 billion and $1.05 diluted EPS (up 40% year-over-year) came alongside a raised 2026 Subsea revenue range of $9.6-$9.8 billion and free cash flow of $1.45-$1.55 billion, plus the first 2027 Subsea guide of $10.0-$10.4 billion revenue at a 22.5-24.0% margin. Management also expects at least $14.5 billion of Subsea orders over the next five quarters, a visible multi-year growth runway backed by a $16.1 billion backlog. The offset: inbound orders fell 14.9% sequentially to $2.3 billion and backlog slipped 2.3%, leaving book-to-bill at 0.8x for the quarter.
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At the time of this filing, FTI was trading at $72.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $28B. The 52-week trading range was $40.52 to $80.70. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.