TechnipFMC Q2: $0.90 EPS, $488M Free Cash Flow, $2.5B Subsea Orders
FTI has more than doubled off its 52-week low of $34.27.
Summary
TechnipFMC posted Q2 2026 earnings of $0.90 per share on $2.76 billion in revenue, generated $488 million in free cash flow, and booked $2.5 billion in Subsea orders. Full-year guidance was reaffirmed.
Key Events · Earnings and Guidance · FTI
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Q2 Revenue and Earnings Beat
Revenue reached $2.76 billion, up 10.8% sequentially, driving net income of $362.7 million, diluted EPS of $0.90, and adjusted EPS of $0.91.
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Strong Cash Generation and Returns
Free cash flow of $487.9 million funded $420.1 million in share repurchases and $19.8 million in dividends, returning 90% of free cash flow to shareholders.
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Subsea Orders of $2.5 Billion
Inbound orders totaled $2.5 billion, including awards from Azule Energy, Vår Energi, Eni, and Equinor, yielding a book-to-bill of 1.0x.
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Full-Year Guidance Reaffirmed
Management reiterated 2026 guidance: Subsea revenue of $9.2–9.6 billion, adjusted EBITDA margin of 21–22%, and free cash flow of $1.3–1.45 billion.
Analysis · FTI · Energy & Transportation
A strong second quarter underscores the offshore upcycle's momentum. Revenue climbed 10.8% sequentially to $2.76 billion, while adjusted EBITDA reached $601 million after stripping out a $19.3 million foreign exchange loss. Free cash flow of $488 million comfortably covered $440 million in shareholder returns—90% of the total—via buybacks and dividends. Subsea orders held at $2.5 billion, maintaining a 1.0x book-to-bill, and full-year guidance was reaffirmed, signaling management's confidence. The results highlight the company's ability to convert backlog into cash and return capital to shareholders, even as the Surface Technologies segment saw a slight revenue dip due to Middle East disruptions.
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In the 30 days to Oct 3, 2026, 29% of the 1653 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FTI was trading at $71.60 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $28.6B. The 52-week trading range was $34.27 to $77.92. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.