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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 secured a major integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Shell for the Gato do Mato greenfield development offshore Brazil. The contract value exceeds $1 billion and will be included in inbound orders in Q1 2025.
The project will implement TechnipFMC's Subsea 2.0® configure-to-order (CTO) subsea production systems, combining integrated execution to streamline project management and accelerate time to first oil through a single interface. This award builds upon a 30-year partnership between TechnipFMC and Shell, highlighting their strong delivery record in subsea solutions.
TechnipFMC (NYSE: FTI) has secured a large integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Equinor for the Johan Sverdrup Phase 3 development in the Norwegian North Sea. The contract, valued between $500 million and $1 billion, involves designing, manufacturing, and installing subsea production systems, umbilicals, and rigid pipe to connect new templates to the existing field center.
The Johan Sverdrup field, which began production in 2019, is one of the largest developments in the region. Phase 3 aims to increase production by integrating additional wells into the current infrastructure, which operates on low-emission resources from onshore. This direct award follows an integrated Front End Engineering and Design (iFEED®) study and will be included in inbound orders in Q1 2025.
TechnipFMC (NYSE: FTI) has announced its participation in the upcoming Piper Sandler 25th Annual Energy Conference in Las Vegas, Nevada. Doug Pferdehirt, the company's Chair and Chief Executive Officer, is scheduled to speak at the event on Tuesday, March 18, 2025, at 8:30 a.m. PT.
The presentation will be accessible through a live webcast on TechnipFMC's Investor Relations website. The company has noted that there will be no presentation materials associated with the event. An audio replay of the webcast will remain available on the website for 180 days following the presentation.
TechnipFMC (NYSE: FTI) reported strong Q4 2024 results with total revenue of $2.37 billion and net income of $224.7 million ($0.52 per share). Full-year 2024 performance showed revenue of $9.08 billion and net income of $842.9 million ($1.91 per share).
Key highlights include:
- Subsea inbound orders reached $2.7 billion in Q4, with full-year orders at $10.4 billion
- Total company backlog grew 9% year-over-year to $14.4 billion
- Q4 cash flow from operations was $579 million with free cash flow of $453 million
- Full-year shareholder returns totaled $486 million, nearly double the previous year
The company announced plans to increase shareholder distributions by at least 30% in 2025 versus 2024, targeting at least 70% of free cash flow. Subsea inbound orders are anticipated to exceed $10 billion in 2025.
TechnipFMC (NYSE: FTI) has announced its Board of Directors has authorized a quarterly cash dividend of $0.05 per share. The dividend will be payable on April 2, 2025 to shareholders of record as of the close of business on the New York Stock Exchange on March 18, 2025. The ex-dividend date is set for March 18, 2025.
TechnipFMC (NYSE: FTI) has scheduled its fourth-quarter 2024 earnings conference call for Thursday, February 27, 2025. The call will take place at 1:30 p.m. London time (8:30 a.m. New York time). The company will release its earnings press release earlier that day at approximately 11:45 a.m. London time (6:45 a.m. New York time). Investors can access the event through the company's Investor Relations website or by registering directly. A replay of the webcast will be made available on the website after the event.
TechnipFMC (NYSE: FTI) has announced that its Chair and Chief Executive Officer, Doug Pferdehirt, will be speaking at the Goldman Sachs Energy, CleanTech & Utilities Conference. The event is scheduled for Tuesday, January 7, 2025, at 1:40 p.m. ET in Miami, Florida.
A live webcast of the speaking engagement will be accessible through the company's Investor Relations website. The company noted that there will be no presentation materials for this event. Following the live broadcast, an audio replay will remain available on the website for 180 days.
TechnipFMC (NYSE: FTI) has secured a substantial contract worth between $250 million and $500 million from Shell Nigeria Exploration and Production Company for the Bonga North development in Nigeria. The scope includes design and manufacture of Subsea 2.0® production systems, including subsea tree systems, manifolds, jumpers, controls, and services.
Shell continues to implement TechnipFMC's Subsea 2.0® configure-to-order solution across multiple basins, being the first to adopt this technology. The contract will be included in inbound orders in the fourth quarter of 2024.
TechnipFMC (NYSE: FTI) has received full notice to proceed with a major carbon capture and storage project for the Northern Endurance Partnership (NEP), a joint venture between bp, Equinor, and TotalEnergies. The contract, valued between $500 million and $1 billion, involves delivering an all-electric subsea system using TechnipFMC's integrated Engineering, Procurement, Construction, and Installation (iEPCI™) model.
The scope includes supplying and installing trees, manifolds, umbilicals, and infield flowlines for the UK's East Coast Cluster. This marks the first all-electric integrated project for carbon transportation and storage, utilizing TechnipFMC's technology to enable extended distances.
TechnipFMC has secured a major integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from TotalEnergies for the GranMorgu project in Block 58, marking the first oil and gas development offshore Suriname. The contract, valued at over $1 billion, combines TechnipFMC's subsea expertise with Saipem's EPCI solutions and J-Lay pipelay capabilities.
The scope includes Subsea 2.0® tree systems, manifolds, connectors, topside control equipment, umbilicals, flexible jumpers, and flexible risers. The award will be included in inbound orders in Q4 2024.