Technipfmc Plc Stock Price, News & Analysis

TechnipFMC (NYSE: FTI) has secured a significant contract for the subsea production system related to Equinor’s Verdande project in the Norwegian Continental Shelf. The deal, part of an existing framework agreement, encompasses all elements of the subsea system, including subsea trees, structures, and installation support. According to TechnipFMC, a 'significant' contract ranges from $75 million to $250 million. Jonathan Landes, President of Subsea at TechnipFMC, emphasized the strong relationship with Equinor, expressing confidence in the trust Equinor places in their technology.

TechnipFMC (NYSE: FTI) has secured a significant contract from Equinor for subsea production systems related to the Irpa oil and gas development on the Norwegian Continental Shelf. The contract, valued between $75 million and $250 million, includes the supply and installation support for subsea trees, control systems, and tooling. Jonathan Landes, President of Subsea at TechnipFMC, highlighted the project’s reliance on their standardized production system tailored for the region's demands, underscoring Equinor's confidence in TechnipFMC's technology and capabilities.

TechnipFMC (NYSE: FTI) has appointed Robert G. Gwin, former President of Anadarko Petroleum, to its Board of Directors effective February 1, 2023. This follows the retirement of Peter Mellbye, who will not seek re-election at the next annual meeting. Doug Pferdehirt, CEO, praised Mellbye’s contributions since 2013 and expressed enthusiasm for Gwin’s extensive experience in finance and operations, which strengthens the Board’s capabilities. Gwin has over 30 years of industry experience and has held significant leadership roles, including serving as CFO at Anadarko until its acquisition in 2019.

TechnipFMC (NYSE: FTI) has secured a significant integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Aker BP for the Utsira High development. This contract, categorized as 'large' (worth between $500 million and $1 billion), consolidates three projects connecting to the Ivar Aasen and Edvard Grieg platforms. The contract follows a two-year iFEED™ study aimed at optimizing field layout. TechnipFMC's President of Subsea, Jonathan Landes, emphasized that their expertise in the Utsira High region contributed to winning this direct award and highlighted the advantages of their integrated model.

TechnipFMC (NYSE: FTI) has secured a significant three-year master services agreement with Petrobras, with an option for a two-year extension. This contract covers life-of-field services for subsea operations in Brazil, including installation, intervention, and maintenance. The agreement is a continuation of their long-standing partnership, with services expected to come from TechnipFMC’s base in Macaé, Brazil. The contract value is classified as 'substantial,' estimated between $250 million and $500 million, with portions included in the fourth quarter 2022 financial results and additional revenue expected in the future.

TechnipFMC (NYSE: FTI) is set to host its fourth quarter 2022 earnings conference call on February 23, 2023, at 1:30 p.m. London time (8:30 a.m. New York time). A press release with the earnings results will be issued prior to the call around 11:45 a.m. London time (6:45 a.m. New York time). The event will be webcast live, accessible via the TechnipFMC website. The company, a leader in technology for the energy industries, emphasizes its commitment to reducing carbon intensity and supporting energy transition through innovative, integrated solutions. Approximately 20,000 employees are focused on delivering client success.

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.