Technipfmc Plc Stock Price, News & Analysis

TechnipFMC (NYSE: FTI) has secured a significant contract from Wintershall Dea Norge AS for the Dvalin North project. The deal involves engineering, procurement, construction, and installation of pipe connected to the Heidrun Platform in the Norwegian Continental Shelf. This marks the second major contract awarded to TechnipFMC by Wintershall in 2022, with the contract value estimated between $75 million and $250 million. The agreement strengthens TechnipFMC's established relationship with Wintershall Dea.

TechnipFMC (NYSE: FTI) announced that CEO Doug Pferdehirt will speak at the BofA Securities 2022 Global Energy Conference on November 16 at 3:30 p.m. EST. The conference runs from November 15 to 18, 2022, at Hotel South Beach in Miami Beach, FL. A live webcast will be available through the Investor Relations website. TechnipFMC is a leading technology provider for the energy sector, focusing on innovative solutions and integrated projects to support energy transition efforts.

TechnipFMC reported a robust third quarter 2022, achieving total revenue of $1.73 billion, demonstrating a 9.7% year-over-year increase. Inbound orders totaled $1.85 billion, with a strong performance from the Subsea sector contributing $1.4 billion. Adjusted EBITDA reached $200.1 million, despite a foreign exchange loss of $14.5 million. The company anticipates full-year orders nearing $7 billion and predicts further growth in 2023, bolstered by an active project pipeline and a $400 million share repurchase program.

TechnipFMC (NYSE: FTI) will announce its third quarter 2022 earnings on October 26, 2022, after market close. The earnings conference call is scheduled for October 27, 2022, at 1 p.m. London time (8 a.m. New York time), and will be available for live webcast on the company’s website. TechnipFMC is a prominent technology provider in energy sectors, focusing on integrated projects while promoting sustainability through innovations. Their commitment lies in enhancing project economics and supporting energy transition goals.

TechnipFMC (NYSE: FTI) has secured a significant engineering, procurement, construction, and installation (EPCI) contract from Shell plc (NYSE: SHEL) for the Jackdaw development in the UK North Sea. The contract involves a 30-kilometer tieback utilizing advanced pipe-in-pipe technology, designed for high-pressure and high-temperature conditions. This project reflects TechnipFMC's capabilities in subsea engineering and construction. The contract value falls between $75 million and $250 million, underscoring its financial significance to the company.

TechnipFMC (NYSE: FTI) has secured an EPCI contract from TotalEnergies for the Lapa North East field in Brazil's Santos Basin, valued between $75 million and $250 million. The contract involves the reconfiguration and installation of umbilicals and flexible pipes to enhance production security. Jonathan Landes, President of Subsea at TechnipFMC, emphasized the collaboration with TotalEnergies, noting the flexibility of a phased campaign aimed at accelerating production schedules.

TechnipFMC (NYSE: FTI) announced that Doug Pferdehirt, CEO, will speak at the Barclays CEO Energy-Power Conference on September 6, 2022, at 1:50 p.m. EDT. The event will take place at the Sheraton New York Times Square. A live webcast and presentation slides will be accessible through the Investor Relations website during the event, with a replay available for 180 days. TechnipFMC is a leader in energy technology, enhancing project economics and supporting energy transition efforts.

TechnipFMC (NYSE: FTI) has secured a notable contract from ExxonMobil's Esso Exploration and Production Guyana Limited for the Gas to Energy Project in Guyana. The contract includes engineering, procurement, construction, and installation of subsea infrastructure. This project aims to connect production from the Liza Destiny and Unity fields to a gas-fired power plant, enhancing local electricity supply. TechnipFMC employs over 85 Guyanese and plans to expand its local workforce in support of this initiative.

TechnipFMC reported second-quarter 2022 results with total revenue of $1.72 billion, up 10.4% sequentially. The company achieved a net income of $2.1 million and adjusted EBITDA of $186.5 million, reflecting a 21.5% increase. Inbound orders total $2.2 billion, pushing the backlog to $9.04 billion. TechnipFMC successfully reduced gross debt by $530 million to $1.5 billion and initiated a $400 million share repurchase program. The outlook for full-year Subsea orders is now estimated to reach $7 billion, a 40% increase compared to 2021.