Technipfmc Plc Stock Price, News & Analysis

TechnipFMC (NYSE: FTI) has signed a Letter of Intent with Equinor to conduct an integrated Front End Engineering and Design (iFEED™) study for the BM-C-33 gas and condensate project offshore Brazil. This study will refine the technical solution before Equinor's final investment decision. Notably, the FEED study includes an option for a direct award to TechnipFMC for the integrated Engineering, Procurement, Construction and Installation (iEPCI™) phase, potentially exceeding $1 billion. This partnership highlights TechnipFMC's strong relationship with Equinor and innovative technology.

TechnipFMC (NYSE: FTI) announced that CEO Doug Pferdehirt will speak at the J.P. Morgan 2022 Energy, Power and Renewables Conference on June 23 at 9:00 a.m. EDT. The event will take place at the InterContinental New York Barclay. A live webcast of the event will be available on the company's Investor Relations website. TechnipFMC is recognized for its technology offerings to both traditional and new energy sectors, focusing on integrated projects and services that enhance project economics while promoting sustainability and carbon reduction.

TechnipFMC (NYSE: FTI) will release its second quarter 2022 earnings after the NYSE close on July 27, 2022, followed by a conference call on July 28, 2022 at 1 p.m. London time (8 a.m. New York time). The call will be accessible via TechnipFMC's website, with an archived version available post-event. The company specializes in integrated projects for traditional and new energy sectors, focusing on technology leadership and digital innovation, organized into Subsea and Surface Technologies segments.

TechnipFMC (NYSE: FTI) has secured a significant contract from TotalEnergies EP Angola for subsea production systems in the CLOV3 development at Block 17, offshore Angola. This contract marks the first under a new framework agreement for brownfield developments in the region. The CLOV3 project will utilize Subsea 2.0™ trees and associated services, aimed at optimizing engineering and reducing time to first production. The contract value is estimated between $75 million and $250 million.

TechnipFMC (NYSE: FTI) has secured a major engineering, procurement, construction, and installation contract from Equinor for the subsea tiebacks of the Halten East development in Norway. This project includes the manufacturing and installation of flowlines, umbilicals, and subsea structures, tied to existing infrastructure on the Åsgard field. The contract, valued between $75 million and $250 million, enhances project economics for Equinor. The award follows their ongoing subsea umbilicals, risers, and flowlines framework agreement, pending government approval.

TechnipFMC (NYSE: FTI) announced that CEO Doug Pferdehirt will speak at the Citi 2022 Global Energy, Utilities, and Climate Technology Conference on May 10, 2022, at 11:00 a.m. EDT. The conference will take place in Boston, MA. A live webcast will be available during the event on the company's Investor Relations website. TechnipFMC is a leader in technology for traditional and new energy sectors, focused on integrated projects and innovative solutions that help clients reduce carbon intensity and transition to sustainable energy.

TechnipFMC plc (NYSE: FTI) announced an increase in the maximum aggregate principal amount of its 6.500% Senior Notes due 2026 tender offer from $320 million to $430.187 million. As of the Early Tender Time on May 3, 2022, the total amount of Notes tendered reached the maximum amount, prompting acceptance of all valid tenders. Holders will receive a Total Consideration of $1,050 per $1,000 principal amount, including a $30 Early Tender Premium. The company successfully received the necessary consents for proposed amendments to eliminate covenants governing the Notes.

TechnipFMC (NYSE: FTI) has secured a significant contract from ExxonMobil's Esso Exploration for the Yellowtail development in Guyana's Stabroek Block. The contract encompasses six high-pressure and high-temperature risers. Additionally, it has received approval to proceed with a previously announced subsea production system contract, which includes 51 enhanced vertical deepwater trees and 12 manifolds. The majority of these contracts will contribute to TechnipFMC's second-quarter orders. The company currently employs 70 Guyanese and aims to expand its local workforce.

TechnipFMC plc (NYSE: FTI) reported first-quarter 2022 results, achieving total revenue of $1.56 billion with a year-over-year decline of 4.7%. The company reported a loss of $42.3 million. Subsea inbound orders surged to $1.9 billion, resulting in a book-to-bill ratio of 1.5. Cash and equivalents stood at $1.2 billion, as the company aims to reduce gross debt by up to $400 million in Q2. Adjusted EBITDA was $153.5 million, representing a 7.1% decrease year-over-year. The backlog increased to $8.9 billion, reflecting growth across multiple sectors and international markets.