TechnipFMC Q2: $0.90 EPS, $488M Free Cash Flow, $2.5B Subsea Orders

summarizeSummary

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.

check_boxKey Events · Earnings and Guidance · FTI

• 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.

• 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.

• 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.

• 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.

auto_awesomeAnalysis · 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.