Technipfmc Plc Stock Price, News & Analysis

TechnipFMC (NYSE: FTI) and DOF Subsea have secured long-term contracts with Petrobras (NYSE: PBR) for the pipelay support vessels Skandi Vitória and Skandi Niteroi. Each contract spans three years with potential extensions and is valued between $75 million and $250 million. The vessels will commence operations in February 2022, performing decommissioning and subsea installation tasks in both shallow and deep waters. This partnership reinforces the ongoing collaboration between TechnipFMC and Petrobras in Brazil's energy sector.

TechnipFMC plc (NYSE:FTI) has announced that as of 30 August 2021, the company’s capital comprises 450,700,480 ordinary shares with a nominal value of USD 1.00 each. The company holds no treasury shares, resulting in 450,700,480 total voting rights. TechnipFMC is a leading technology provider serving traditional and new energy sectors, focusing on integrated projects while reducing carbon intensity. The company operates through two segments: Subsea and Surface Technologies, leveraging proprietary technologies and digital innovations.

TechnipFMC plc (NYSE: FTI) has announced a tender offer for up to $250 million of its 6.500% Senior Notes due 2026. The offer will expire at 11:59 P.M. New York City time on September 28, 2021. Holders who tender their notes before 5:00 P.M. on September 14, 2021 will receive a total consideration of $1,075 per $1,000 principal amount, which includes a premium of $30. The firm intends to fund this offer using cash on hand.

TechnipFMC (NYSE: FTI) is collaborating with Loke Marine Minerals to develop technology for seabed mineral extraction, essential for the energy transition. The partnership aims to create a patent-pending subsea production system with minimal environmental impact. Marine minerals are increasingly recognized as vital for electric vehicle batteries and clean energy technologies. The Norwegian government is expected to finalize licensing approvals for exploration in 2023. TechnipFMC holds a minority stake in Loke, which has also attracted investments from Wilh. Wilhelmsen Holding ASA and NorSea Group.

TechnipFMC plc (NYSE: FTI) announces the sale of 16 million shares of Technip Energies, representing approximately 9% of its issued share capital. The shares are sold at €11.20 each, totaling gross proceeds of €179.2 million. Following this placement, TechnipFMC retains about 22% of Technip Energies' shares. A 60-day lock-up period on the remaining shares is agreed upon, with settlement expected around August 3, 2021. This transaction is aimed at institutional investors and does not constitute a public offering.

TechnipFMC (NYSE: FTI) plans to acquire the remaining 49% of shares in TIOS AS, enhancing its integrated service model. This strategic move aims to boost TechnipFMC’s capabilities in delivering Riserless Light Well Intervention (RLWI) services globally. TIOS, operational since 2005, has successfully serviced over 740 wells. The company will continue its partnership with Island Offshore for vessel provisions. Jonathan Landes, President of Subsea, emphasized the acquisition's potential to improve service delivery to clients.

TechnipFMC plc (NYSE:FTI) has announced the placement of 16 million shares of Technip Energies, representing approximately 9% of its issued and outstanding share capital. This private placement targets eligible institutional investors and is not open to the public. After the placement, TechnipFMC will retain about 22% of Technip Energies' shares and will adhere to a 60-day lock-up period for its remaining shares. The final terms will be disclosed by July 30, 2021, with settlement expected around August 3, 2021.

TechnipFMC plc (NYSE: FTI) reported Q2 2021 results, with total revenue of $1,668.8 million, reflecting a 2.3% sequential increase. However, the company incurred a loss of $174.7 million. Adjusted EBITDA was $144.3 million, a 12.7% decline from the previous quarter, with a margin of 8.6%. Inbound orders decreased by 9.4% sequentially to $1,559.5 million, while backlog increased to $7,312 million. The company has raised its full-year revenue guidance for Subsea from $5.0-5.4 billion to $5.2-5.5 billion.

EDP and TechnipFMC (NYSE: FTI) have announced a collaboration to develop the BEHYOND project, focusing on a feasibility study for offshore hydrogen production utilizing wind power. This initiative aims to standardize large-scale hydrogen production and strengthen partnerships across the energy sector. The project, supported by the European Economic Area Financial Mechanism, will enhance Portugal's competitiveness in the blue economy. EDP will lead key phases, tapping into its offshore wind expertise, and aim to contribute significantly to the global decarbonization efforts through renewable hydrogen technology.