Technipfmc Plc Stock Price, News & Analysis

TechnipFMC (NYSE: FTI) has secured a notable contract from ExxonMobil's Esso Exploration and Production Guyana Limited for the Gas to Energy Project in Guyana. The contract includes engineering, procurement, construction, and installation of subsea infrastructure. This project aims to connect production from the Liza Destiny and Unity fields to a gas-fired power plant, enhancing local electricity supply. TechnipFMC employs over 85 Guyanese and plans to expand its local workforce in support of this initiative.

TechnipFMC reported second-quarter 2022 results with total revenue of $1.72 billion, up 10.4% sequentially. The company achieved a net income of $2.1 million and adjusted EBITDA of $186.5 million, reflecting a 21.5% increase. Inbound orders total $2.2 billion, pushing the backlog to $9.04 billion. TechnipFMC successfully reduced gross debt by $530 million to $1.5 billion and initiated a $400 million share repurchase program. The outlook for full-year Subsea orders is now estimated to reach $7 billion, a 40% increase compared to 2021.

TechnipFMC (NYSE: FTI) has announced a new share repurchase program, allowing for the buyback of up to $400 million of its outstanding shares, equating to approximately 14% of the total shares at the previous closing price. CEO Doug Pferdehirt expressed confidence in the company's long-term outlook and plans to initiate a quarterly dividend in the second half of 2023. This repurchase program aligns with prior shareholder authorization from May 20, 2021, and is subject to market conditions and capital plans.

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.