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TechnipFMC plc provides technology, project execution, products, and services for traditional and new energy markets. News about TechnipFMC centers on its Subsea and Surface Technologies segments, including integrated offshore project awards, subsea equipment and construction activity, and proprietary ecosystems such as iEPCI™, iFEED™, and iComplete®.
Recurring updates also cover quarterly financial results, inbound orders, backlog, cash flow, margin trends, dividends, share repurchases, and shareholder distributions. Company announcements frequently discuss offshore oil and gas development activity, direct customer awards, guidance for Subsea revenue and profitability, and investor conference participation.
TechnipFMC (NYSE: FTI) has launched a $320 million tender offer for its 6.500% Senior Notes due 2026, along with a Consent Solicitation for amendments to the notes' indenture. The offer aims to eliminate most restrictive covenants and events of default. It will expire at 11:59 PM on May 17, 2022. Holders who tender by 5:00 PM on May 3, 2022, will receive $1,050 per $1,000 of notes, including a $30 early tender premium. The company plans to use cash on hand for the offer.
TechnipFMC (NYSE: FTI) has secured a major integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Wintershall Dea Norge AS for the Maria revitalization project in Norway. This project aims to enhance production at the Maria field, which has been operational since 2017. The contract, valued between $75 million and $250 million, entails the installation of new subsea infrastructure. Notably, the project will reduce its carbon footprint by optimizing existing infrastructure, which eliminates the need for an additional 4,000 meters of piping.
TechnipFMC (NYSE:FTI) will release its Q1 2022 earnings after the market close on April 27, 2022. A conference call is scheduled for April 28, 2022, at 1 p.m. London time (8 a.m. New York time). The call will be accessible via the company's website. TechnipFMC focuses on technology and integrated solutions in energy sectors, aiming to enhance project economics and support energy transition goals through innovative ecosystems and digital technologies.
TechnipFMC plc (NYSE: FTI) reported Q4 2021 results with total revenue of $1.5 billion, a 4.8% decline year-over-year. The company reported a net loss of $127.2 million, or $0.28 per diluted share, impacted by restructuring and impairment charges. Full-year revenue reached $6.4 billion, down 1.9%, while adjusted EBITDA increased 46.1% to $580.4 million. Inbound orders surged to $6.8 billion, reflecting a 33% increase from the prior year, bolstering a backlog of $7.7 billion. Cash flow from operations was $483.5 million, with free cash flow of $423 million, reducing net debt by 70% to $678 million.
TechnipFMC (NYSE: FTI) announced the completion of its share delisting from Euronext Paris on February 18, 2022. All shares tendered to the voluntary sales facility were successfully sold on the New York Stock Exchange prior to this delisting. The company remains listed on the NYSE under the symbol 'FTI'. This decision is part of TechnipFMC's strategy to streamline its operations and enhance shareholder value.
TechnipFMC plc (NYSE:FTI) announced that as of January 28, 2022, its capital consists of 450,700,480 ordinary shares valued at USD 1.00 each. The company holds no treasury shares, resulting in 450,700,480 total voting rights. TechnipFMC is recognized for its integrated projects and services in the energy sector, aiming to reduce carbon intensity and support energy transitions through innovative technologies. With approximately 20,000 employees, TechnipFMC emphasizes client success and industry advancement through its two business segments: Subsea and Surface Technologies.
TechnipFMC has secured a large subsea EPCI contract from Petrobras for the Búzios 6 field, valued between $500 million and $1 billion. This greenfield project will include the supply of flexible and rigid pipes, umbilicals, and more, with manufacturing primarily in location value="LC/br"Brazil. The award highlights TechnipFMC's robust relationship with Petrobras and the ongoing strength of the Brazilian subsea market. The project emphasizes local supply chain utilization and aims to minimize the carbon footprint.
TechnipFMC (NYSE:FTI) will release its fourth quarter 2021 earnings after the NYSE closes on February 23, 2022. A conference call will follow on February 24, 2022, at 1 p.m. London time (8 a.m. New York time). The event will be webcast live, with an archived version available on the company’s website post-event. TechnipFMC focuses on technology for energy industries, aiming to enhance project economics and support energy transition through innovative solutions.
TechnipFMC (NYSE: FTI) and Magnora ASA have announced their partnership's bid acceptance for an Option Agreement in the ScotWind leasing round. The planned offshore wind development in Scotland will generate about 500 MW, enough to power over 600,000 homes. The project's ambition includes achieving Consent by 2026 and starting production by 2030, aligning with Scotland's Net Zero targets. The partnership emphasizes local engagement and sustainable development throughout the project.
TechnipFMC (NYSE: FTI) has secured an integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract for Equinor’s Smørbukk Nord development. This contract includes a high-pressure, high-temperature subsea production system for the Åsgard field in Norway, where the company has an established presence. The project follows design work completed in 2021 and will employ TechnipFMC’s battery hybrid vessel to decrease greenhouse gas emissions. This contract is expected to enhance the company's operational portfolio in subsea engineering.