TechnipFMC Announces First-Quarter 2026 Results
Key Terms
free cash flow financial
adjusted EBITDA financial
backlog financial
book-to-bill financial
Rule 10b1-5 trading plan regulatory
Schedule 13G regulatory
DEF 14A regulatory
non-GAAP financial measures financial
-
Total Company inbound of
$2.2 billion $1.9 billion -
Cash flow from operations of
$332 million $277 million -
Total shareholder distributions of
$285 million $265 million
NEWCASTLE &
Summary Financial Results from Continuing Operations
Reconciliation of |
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Three Months Ended |
Change |
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(In millions, except per share amounts) |
Mar. 31,
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Dec. 31,
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Mar. 31,
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Sequential |
Year-over
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Revenue |
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( |
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Net income |
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Net income margin |
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90 bps |
410 bps |
Diluted earnings per share |
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Adjusted EBITDA |
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Adjusted EBITDA margin |
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120 bps |
330 bps |
Adjusted net income |
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( |
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Adjusted diluted earnings per share |
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( |
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Inbound orders |
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( |
( |
Backlog |
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( |
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Total Company revenue in the first quarter was
Adjusted EBITDA, which excludes pre-tax charges and credits, was
Included in total Company results was a foreign exchange gain of
Adjusted EBITDA, excluding the foreign exchange gain of
Doug Pferdehirt, Chair and CEO of TechnipFMC, remarked, “Our quarterly results reflect strong operational performance throughout the Company, driven by solid execution. This early momentum positions us well to achieve our full-year financial targets.”
“Total Company revenue in the period was
Pferdehirt continued, “Subsea orders in the quarter were
Pferdehirt added, “Regarding the conflict in the
Pferdehirt continued, “Even before the conflict, the queue of potential deepwater projects had been expanding over the last five years. The significant impacts to both security and energy supply resulting from the conflict are likely to have lasting impacts on the perceived risk assigned to the region. We believe this builds further momentum in the ongoing shift in capital flows toward offshore developments.”
“Our Subsea Opportunities List now identifies approximately
Pferdehirt concluded, “We remain focused on the relentless pursuit of the reduction of cycle time. This unique mindset continues to serve as the fundamental driver to improving project economics, benefiting both our customers and TechnipFMC.”
“We continue to drive a different paradigm around capital investment, where we are delivering improved capital efficiency and higher free cash flow conversion. Importantly, we remain committed to returning at least 70 percent of free cash flow to shareholders through both dividends and share repurchases.”
“Our strong commercial success and high-quality backlog—built upon an expanding mix of direct awards, iEPCI®, and services—position us well to increase Subsea inbound, revenue, and adjusted EBITDA margin in 2027. TechnipFMC is in full growth mode.”
Operational and Financial Highlights
Subsea |
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Financial Highlights |
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Reconciliation of |
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Three Months Ended |
Change |
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(In millions) |
Mar. 31,
|
Dec. 31,
|
Mar. 31,
|
Sequential |
Year-over-
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Revenue |
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|
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|
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Operating profit |
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|
|
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Operating profit margin |
15.8 % |
12.3 % |
12.8 % |
350 bps |
300 bps |
Adjusted EBITDA |
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|
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Adjusted EBITDA margin |
20.0 % |
18.9 % |
17.3 % |
110 bps |
270 bps |
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Inbound orders |
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( |
( |
Backlog1,2,3 |
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( |
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Estimated Consolidated Backlog Scheduling (In millions) |
Mar. 31, 2026 |
2026 (9 months) |
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2027 |
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2028 and beyond |
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Total |
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1 Backlog as of March 31, 2026 was increased by a foreign exchange impact of |
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2 Backlog does not capture all revenue potential for Subsea Services. |
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3 Backlog as of March 31, 2026 does not include total Company non-consolidated backlog of |
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Subsea reported first-quarter revenue of
Subsea reported an operating profit of
Subsea reported adjusted EBITDA of
Inbound orders for the quarter were
Surface Technologies |
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Financial Highlights |
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Reconciliation of |
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Three Months Ended |
Change |
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(In millions) |
Mar. 31, 2026 |
Dec. 31, 2025 |
Mar. 31, 2025 |
Sequential |
Year-over-
|
Revenue |
|
|
|
( |
( |
Operating profit |
|
|
|
( |
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Operating profit margin |
13.0 % |
14.3 % |
10.2 % |
(130 bps) |
280 bps |
Adjusted EBITDA |
|
|
|
( |
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Adjusted EBITDA margin |
17.4 % |
18.0 % |
15.7 % |
(60 bps) |
170 bps |
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Inbound orders |
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|
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|
( |
Backlog |
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( |
( |
Surface Technologies reported first-quarter revenue of
Surface Technologies reported operating profit of
Surface Technologies reported adjusted EBITDA of
Inbound orders for the quarter were
Corporate and Other Items (three months ended March 31, 2026)
Corporate expense was
Foreign exchange gain was
Net interest expense was
The provision for income taxes was
Total depreciation and amortization was
Cash provided by operating activities was
During the quarter, the Company repurchased 4.3 million of its ordinary shares for total consideration of
The Company ended the period with cash and cash equivalents of
2026 Full-Year Financial Guidance1
The Company’s full-year financial guidance for 2026 can be found in the table below. No updates were made to the previous guidance issued on February 19, 2026.
2026 Guidance (As of February 19, 2026) |
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Subsea |
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Surface Technologies |
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Revenue in a range of |
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Revenue in a range of |
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Adjusted EBITDA margin in a range of 21 - |
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Adjusted EBITDA margin in a range of 16.5 - |
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Corporate and Other |
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Corporate expense, net |
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(excludes charges and credits) |
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Net interest expense |
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Effective tax rate 27 - |
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Capital expenditures approximately |
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Free cash flow2 |
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| _________________________ |
1 Our guidance measures of adjusted EBITDA margin, free cash flow and corporate expense, net, excluding charges and credits are non-GAAP financial measures. We are unable to provide a reconciliation to comparable GAAP financial measures on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from each such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results. |
2 Free cash flow is calculated as cash flow from operations less capital expenditures. |
Teleconference
The Company will host a teleconference on Thursday, April 30, 2026 to discuss the first-quarter 2026 financial results. The call will begin at 1:30 p.m.
An archived audio replay will be available after the event at the same website address. In the event of a disruption of service or technical difficulty during the call, information will be posted on our website.
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About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries; delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI®, iFEED™ and iComplete®), technology leadership, and digital innovation.
Each of our approximately 22,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on X @TechnipFMC.
This communication contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events, market growth, and recovery, growth of our New Energy business and anticipated revenues, earnings, cash flows, or other aspects of our operations or operating results. Forward-looking statements are often identified by words such as “commit,” “guidance,” “confident,” “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “will,” “likely,” “predicated,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on our current expectations, beliefs, and assumptions concerning future developments and business conditions and their potential effect on us. While management believes these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All of our forward-looking statements involve risks and uncertainties (some of which are significant or beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections, including unpredictable trends in the demand for and price of oil and natural gas; competition and unanticipated changes relating to competitive factors in our industry, including ongoing industry consolidation; our inability to develop, implement and protect new technologies and services and intellectual property related thereto; the cumulative loss of major contracts, customers, alliances, or business disruptions; disruptions in the political, regulatory, economic and social conditions, or public health crisis in the countries where we conduct business; the impact of our existing and future indebtedness; a downgrade in our debt rating; the risks caused by our acquisition and divestiture activities; additional costs or risks from increasing scrutiny and expectations regarding sustainability matters; uncertainties related to our investments, including those related to energy transition; the risks caused by fixed-price contracts; our failure to timely deliver our backlog; our reliance on subcontractors, suppliers and our joint venture partners; a failure or breach of our IT infrastructure or that of our subcontractors, suppliers or joint venture partners, including as a result of cyber-attacks; challenges with managing artificial intelligence, machine learning, and data science; risks of pirates and maritime conflicts endangering our maritime employees and assets; any delays and cost overruns of capital asset construction projects for vessels and manufacturing facilities; potential liabilities inherent in the industries in which we operate or have operated; our failure to comply with existing and future laws and regulations, including those related to environmental protection, climate change, health and safety, labor and employment, import/export controls, currency exchange, bribery and corruption, taxation, privacy, data protection and data security; uninsured claims and litigation against us; the additional restrictions on dividend payouts or share repurchases as an English public limited company; tax laws, treaties and regulations and any unfavorable findings by relevant tax authorities; significant changes or developments in
We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
Exhibit 1 |
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TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
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(In millions, except per share data, unaudited) |
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|
Three Months Ended |
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|
March 31, |
|
December |
|
March 31, |
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|
|
2026 |
|
|
|
2025 |
|
|
|
2025 |
|
|
|
|
|
|
|
||||||
Revenue |
$ |
2,492.7 |
|
|
$ |
2,517.0 |
|
|
$ |
2,233.6 |
|
Costs and expenses |
|
2,141.7 |
|
|
|
2,251.8 |
|
|
|
1,973.2 |
|
|
|
351.0 |
|
|
|
265.2 |
|
|
|
260.4 |
|
|
|
|
|
|
|
||||||
Other income (loss), net including income from equity affiliates |
|
10.8 |
|
|
|
17.3 |
|
|
|
(20.2 |
) |
|
|
|
|
|
|
||||||
Income before net interest expense and income taxes |
|
361.8 |
|
|
|
282.5 |
|
|
|
240.2 |
|
Net interest expense |
|
(6.0 |
) |
|
|
(4.6 |
) |
|
|
(9.9 |
) |
|
|
|
|
|
|
||||||
Income before income taxes |
|
355.8 |
|
|
|
277.9 |
|
|
|
230.3 |
|
Provision for income taxes |
|
95.9 |
|
|
|
33.3 |
|
|
|
87.0 |
|
|
|
|
|
|
|
||||||
Net income |
|
259.9 |
|
|
|
244.6 |
|
|
|
143.3 |
|
Net (income) loss attributable to non-controlling interests |
|
0.6 |
|
|
|
(1.9 |
) |
|
|
(1.3 |
) |
|
|
|
|
|
|
||||||
Net income attributable to TechnipFMC plc |
$ |
260.5 |
|
|
$ |
242.7 |
|
|
$ |
142.0 |
|
|
|
|
|
|
|
||||||
Earnings per share attributable to TechnipFMC plc |
|
|
|
|
|
||||||
Basic |
$ |
0.65 |
|
|
$ |
0.60 |
|
|
$ |
0.34 |
|
Diluted |
$ |
0.64 |
|
|
$ |
0.59 |
|
|
$ |
0.33 |
|
|
|
|
|
|
|
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Weighted average shares outstanding: |
|
|
|
|
|
||||||
Basic |
|
400.1 |
|
|
|
402.8 |
|
|
|
421.2 |
|
Diluted |
|
409.9 |
|
|
|
409.7 |
|
|
|
431.2 |
|
|
|
|
|
|
|
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Cash dividends declared per share |
$ |
0.05 |
|
|
$ |
0.05 |
|
|
$ |
0.05 |
|
Exhibit 2 |
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TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
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BUSINESS SEGMENT DATA |
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(In millions, unaudited) |
|||||||||||
|
Three Months Ended |
||||||||||
|
March 31, |
|
December |
|
March 31, |
||||||
|
|
2026 |
|
|
|
2025 |
|
|
|
2025 |
|
Segment revenue |
|
|
|
|
|
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Subsea |
$ |
2,208.4 |
|
|
$ |
2,194.2 |
|
|
$ |
1,936.2 |
|
Surface Technologies |
|
284.3 |
|
|
|
322.8 |
|
|
|
297.4 |
|
Total segment revenue |
$ |
2,492.7 |
|
|
$ |
2,517.0 |
|
|
$ |
2,233.6 |
|
|
|
|
|
|
|
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Segment operating profit |
|
|
|
|
|
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Subsea |
$ |
349.0 |
|
|
$ |
269.9 |
|
|
$ |
247.9 |
|
Surface Technologies |
|
37.1 |
|
|
|
46.3 |
|
|
|
30.2 |
|
Total segment operating profit |
$ |
386.1 |
|
|
$ |
316.2 |
|
|
$ |
278.1 |
|
|
|
|
|
|
|
||||||
Corporate items |
|
|
|
|
|
||||||
Corporate expense(1) |
$ |
(37.1 |
) |
|
$ |
(34.6 |
) |
|
$ |
(25.8 |
) |
Net interest expense |
|
(6.0 |
) |
|
|
(4.6 |
) |
|
|
(9.9 |
) |
Foreign exchange gains (losses) |
|
12.8 |
|
|
|
0.9 |
|
|
|
(12.1 |
) |
Total corporate items |
$ |
(30.3 |
) |
|
$ |
(38.3 |
) |
|
$ |
(47.8 |
) |
|
|
|
|
|
|
||||||
Income before income taxes(2) |
$ |
355.8 |
|
|
$ |
277.9 |
|
|
$ |
230.3 |
|
(1) |
Corporate expense primarily includes corporate staff expenses, share-based compensation expenses, and other employee benefits. |
(2) |
Includes amounts attributable to non-controlling interests. |
Exhibit 3 |
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TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
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BUSINESS SEGMENT DATA |
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(In millions, unaudited) |
||||||||
|
Three Months Ended |
|||||||
Inbound Orders(1) |
March 31, |
|
December |
|
March 31, |
|||
|
2026 |
|
2025 |
|
2025 |
|||
|
|
|
|
|
|
|||
Subsea |
$ |
1,903.7 |
|
$ |
2,340.3 |
|
$ |
2,785.5 |
Surface Technologies |
|
248.7 |
|
|
247.7 |
|
|
303.6 |
Total inbound orders |
$ |
2,152.4 |
|
$ |
2,588.0 |
|
$ |
3,089.1 |
Order Backlog(2) |
March 31, 2026 |
|
December 31, 2025 |
|
March 31, 2025 |
|||
|
|
|
|
|
|
|||
Subsea |
$ |
15,800.4 |
|
$ |
15,871.7 |
|
$ |
14,945.6 |
Surface Technologies |
|
667.6 |
|
|
699.9 |
|
|
870.4 |
Total order backlog |
$ |
16,468.0 |
|
$ |
16,571.6 |
|
$ |
15,816.0 |
(1) |
Inbound orders represent the estimated sales value of confirmed customer orders received during the reporting period. |
(2) |
Order backlog is calculated as the estimated sales value of unfilled, confirmed customer orders at the reporting date. |
Exhibit 4 |
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TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(In millions, unaudited) |
|||||||
|
March 31,
|
|
December 31,
|
||||
|
|
|
|
||||
Cash and cash equivalents |
$ |
960.8 |
|
$ |
1,031.9 |
||
Trade receivables, net |
|
1,196.2 |
|
|
1,128.6 |
||
Contract assets, net |
|
1,097.2 |
|
|
1,065.5 |
||
Inventories, net |
|
1,224.0 |
|
|
1,153.0 |
||
Other current assets |
|
1,051.8 |
|
|
1,166.3 |
||
Total current assets |
|
5,530.0 |
|
|
5,545.3 |
||
|
|
|
|
||||
Property, plant and equipment, net |
|
2,268.3 |
|
|
2,285.3 |
||
Intangible assets, net |
|
402.8 |
|
|
425.7 |
||
Other assets |
|
1,885.0 |
|
|
1,861.9 |
||
Total assets |
$ |
10,086.1 |
|
$ |
10,118.2 |
||
|
|
|
|
||||
Short-term debt and current portion of long-term debt |
$ |
36.4 |
|
$ |
34.3 |
||
Accounts payable, trade |
|
1,318.2 |
|
|
1,179.8 |
||
Contract liabilities |
|
2,156.9 |
|
|
2,148.9 |
||
Other current liabilities |
|
1,393.4 |
|
|
1,551.8 |
||
Total current liabilities |
|
4,904.9 |
|
|
4,914.8 |
||
|
|
|
|
||||
Long-term debt, less current portion |
|
384.0 |
|
|
395.7 |
||
Other liabilities |
|
1,426.4 |
|
|
1,402.4 |
||
TechnipFMC plc stockholders’ equity |
|
3,362.9 |
|
|
3,363.8 |
||
Non-controlling interests |
|
7.9 |
|
|
41.5 |
||
Total liabilities and equity |
$ |
10,086.1 |
|
$ |
10,118.2 |
||
Exhibit 5 |
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TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
(In millions, unaudited) |
||||||||
|
|
Three Months Ended March 31, |
||||||
|
|
2026 |
|
|
|
2025 |
|
|
Cash provided by operating activities |
|
|
|
|
||||
Net income |
|
$ |
259.9 |
|
|
$ |
143.3 |
|
Adjustments to reconcile net income to cash provided by operating activities |
|
|
|
|
||||
Depreciation and amortization |
|
|
103.6 |
|
|
|
102.4 |
|
Income from equity affiliates, net of dividends received |
|
|
(4.5 |
) |
|
|
(8.6 |
) |
Working capital(1) |
|
|
(98.0 |
) |
|
|
159.4 |
|
Other operating activities |
|
|
71.5 |
|
|
|
45.2 |
|
Cash provided by operating activities |
|
|
332.5 |
|
|
|
441.7 |
|
|
|
|
|
|
||||
Cash required by investing activities |
|
|
|
|
||||
Capital expenditures |
|
|
(55.6 |
) |
|
|
(61.8 |
) |
Other investing activities |
|
|
2.0 |
|
|
|
3.6 |
|
Cash required by investing activities |
|
|
(53.6 |
) |
|
|
(58.2 |
) |
|
|
|
|
|
||||
Cash required by financing activities |
|
|
|
|
||||
Dividends paid |
|
|
(19.9 |
) |
|
|
(21.0 |
) |
Share repurchases |
|
|
(264.8 |
) |
|
|
(250.1 |
) |
Payments related to taxes withheld on share-based compensation |
|
|
(76.5 |
) |
|
|
(62.2 |
) |
Other financing activities |
|
|
10.3 |
|
|
|
(32.6 |
) |
Cash required by financing activities |
|
|
(350.9 |
) |
|
|
(365.9 |
) |
Effect of changes in foreign exchange rates on cash and cash equivalents |
|
|
0.9 |
|
|
|
11.5 |
|
Change in cash and cash equivalents |
|
|
(71.1 |
) |
|
|
29.1 |
|
Cash and cash equivalents, beginning of period |
|
|
1,031.9 |
|
|
|
1,157.7 |
|
Cash and cash equivalents, end of period |
|
$ |
960.8 |
|
|
$ |
1,186.8 |
|
(1) Working capital includes receivables, payables, inventories and other current assets and liabilities. |
Exhibit 6 |
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
(In millions, except per share data, unaudited) |
In addition to financial results determined in accordance with |
Non-GAAP adjustments are presented on a gross basis and the tax impact of the non-GAAP adjustments is separately presented in the applicable reconciliation table. Estimates of the tax effect of each adjustment is calculated item by item, by reviewing the relevant jurisdictional tax rate to the pretax non-GAAP amounts, analyzing the nature of the item and/or the tax jurisdiction in which the item has been recorded, the need of application of a specific tax rate, history of non-GAAP taxable income positions (i.e. net operating loss carryforwards) and concluding on the valuation allowance positions. |
Management believes that the exclusion of charges, credits and foreign exchange impacts from these financial measures provides a useful perspective on the Company’s underlying business results and operating trends, and a means to evaluate TechnipFMC’s operations and consolidated results of operations period-over-period. These measures are also used by management as performance measures in determining certain incentive compensation. The foregoing non-GAAP financial measures should be considered by investors in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. The following is a reconciliation of the most comparable financial measures under GAAP to the non-GAAP financial measures. |
|
|
Three Months Ended |
||||||||||
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
||||||
|
|
|
|
|
|
|
||||||
Net income attributable to TechnipFMC plc |
|
$ |
260.5 |
|
|
$ |
242.7 |
|
|
$ |
142.0 |
|
|
|
|
|
|
|
|
||||||
Charges and (credits): |
|
|
|
|
|
|
||||||
Restructuring, impairment and other charges |
|
|
0.6 |
|
|
|
52.1 |
|
|
|
1.2 |
|
Tax on charges and (credits) |
|
|
(0.2 |
) |
|
|
(8.3 |
) |
|
|
(0.3 |
) |
Total charges and (credits) |
|
|
0.4 |
|
|
|
43.8 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
||||||
Adjusted net income attributable to TechnipFMC plc |
|
$ |
260.9 |
|
|
$ |
286.5 |
|
|
$ |
142.9 |
|
|
|
|
|
|
|
|
||||||
Weighted diluted average shares outstanding |
|
|
409.9 |
|
|
|
409.7 |
|
|
|
431.2 |
|
|
|
|
|
|
|
|
||||||
Reported earnings per share - diluted |
|
$ |
0.64 |
|
|
$ |
0.59 |
|
|
$ |
0.33 |
|
Adjusted earnings per share - diluted |
|
$ |
0.64 |
|
|
$ |
0.70 |
|
|
$ |
0.33 |
|
Exhibit 7 |
||||||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
||||||||||||
(In millions, unaudited) |
||||||||||||
|
|
Three Months Ended |
||||||||||
|
|
March 31,
|
|
December 31,
|
|
March 31,
|
||||||
|
|
|
|
|
|
|
||||||
Net income attributable to TechnipFMC plc |
|
$ |
260.5 |
|
|
$ |
242.7 |
|
|
$ |
142.0 |
|
|
|
|
|
|
|
|
||||||
Income (loss) attributable to non-controlling interests |
|
|
(0.6 |
) |
|
|
1.9 |
|
|
|
1.3 |
|
Provision for income tax |
|
|
95.9 |
|
|
|
33.3 |
|
|
|
87.0 |
|
Net interest expense |
|
|
6.0 |
|
|
|
4.6 |
|
|
|
9.9 |
|
Depreciation and amortization |
|
|
103.6 |
|
|
|
105.9 |
|
|
|
102.4 |
|
Restructuring, impairment and other charges |
|
|
0.6 |
|
|
|
52.1 |
|
|
|
1.2 |
|
|
|
|
|
|
|
|
||||||
Adjusted EBITDA |
|
$ |
466.0 |
|
|
$ |
440.5 |
|
|
$ |
343.8 |
|
|
|
|
|
|
|
|
||||||
Foreign exchange, net |
|
|
(12.8 |
) |
|
|
(0.9 |
) |
|
|
12.1 |
|
Adjusted EBITDA, excluding foreign exchange, net |
|
$ |
453.2 |
|
|
$ |
439.6 |
|
|
$ |
355.9 |
|
Exhibit 8 |
|||||||||||||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
|||||||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
|||||||||||||||||||
(In millions, unaudited) |
|||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||
|
March 31, 2026 |
||||||||||||||||||
|
Subsea |
|
Surface
|
|
Corporate
|
|
Foreign
|
|
Total |
||||||||||
Revenue |
$ |
2,208.4 |
|
|
$ |
284.3 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,492.7 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating profit (loss), as reported (pre-tax) |
$ |
349.0 |
|
|
$ |
37.1 |
|
|
$ |
(37.1 |
) |
|
$ |
12.8 |
|
|
$ |
361.8 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Charges and (credits): |
|
|
|
|
|
|
|
|
|
||||||||||
Restructuring, impairment and other charges |
|
(0.1 |
) |
|
|
0.7 |
|
|
|
— |
|
|
|
— |
|
|
|
0.6 |
|
Subtotal |
|
(0.1 |
) |
|
|
0.7 |
|
|
|
— |
|
|
|
— |
|
|
|
0.6 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Depreciation and amortization |
|
91.8 |
|
|
|
11.7 |
|
|
|
0.1 |
|
|
|
— |
|
|
|
103.6 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA |
$ |
440.7 |
|
|
$ |
49.5 |
|
|
$ |
(37.0 |
) |
|
$ |
12.8 |
|
|
$ |
466.0 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign exchange, net |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(12.8 |
) |
|
|
(12.8 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA, excluding foreign exchange, net |
$ |
440.7 |
|
|
$ |
49.5 |
|
|
$ |
(37.0 |
) |
|
$ |
— |
|
|
$ |
453.2 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating profit margin, as reported |
|
15.8 |
% |
|
|
13.0 |
% |
|
|
|
|
|
|
14.5 |
% |
||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA margin |
|
20.0 |
% |
|
|
17.4 |
% |
|
|
|
|
|
|
18.7 |
% |
||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA margin, excluding foreign exchange, net |
|
20.0 |
% |
|
|
17.4 |
% |
|
|
|
|
|
|
18.2 |
% |
||||
Exhibit 8 |
|||||||||||||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
|||||||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
|||||||||||||||||||
(In millions, unaudited) |
|||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||
|
December 31, 2025 |
||||||||||||||||||
|
Subsea |
|
Surface
|
|
Corporate
|
|
Foreign
|
|
Total |
||||||||||
Revenue |
$ |
2,194.2 |
|
|
$ |
322.8 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,517.0 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating profit (loss), as reported (pre-tax) |
$ |
269.9 |
|
|
$ |
46.3 |
|
|
$ |
(34.6 |
) |
|
$ |
0.9 |
|
|
$ |
282.5 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Charges and (credits): |
|
|
|
|
|
|
|
|
|
||||||||||
Restructuring, impairment and other charges |
|
52.0 |
|
|
|
(0.2 |
) |
|
|
0.3 |
|
|
|
— |
|
|
|
52.1 |
|
Subtotal |
|
52.0 |
|
|
|
(0.2 |
) |
|
|
0.3 |
|
|
|
— |
|
|
|
52.1 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Depreciation and amortization |
|
93.7 |
|
|
|
12.1 |
|
|
|
0.1 |
|
|
|
— |
|
|
|
105.9 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA |
$ |
415.6 |
|
|
$ |
58.2 |
|
|
$ |
(34.2 |
) |
|
$ |
0.9 |
|
|
$ |
440.5 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign exchange, net |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.9 |
) |
|
|
(0.9 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA, excluding foreign exchange, net |
$ |
415.6 |
|
|
$ |
58.2 |
|
|
$ |
(34.2 |
) |
|
$ |
— |
|
|
$ |
439.6 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating profit margin, as reported |
|
12.3 |
% |
|
|
14.3 |
% |
|
|
|
|
|
|
11.2 |
% |
||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA margin |
|
18.9 |
% |
|
|
18.0 |
% |
|
|
|
|
|
|
17.5 |
% |
||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA margin, excluding foreign exchange, net |
|
18.9 |
% |
|
|
18.0 |
% |
|
|
|
|
|
|
17.5 |
% |
||||
Exhibit 8 |
|||||||||||||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
|||||||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
|||||||||||||||||||
(In millions, unaudited) |
|||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||
|
March 31, 2025 |
||||||||||||||||||
|
Subsea |
|
Surface
|
|
Corporate
|
|
Foreign
|
|
Total |
||||||||||
Revenue |
$ |
1,936.2 |
|
|
$ |
297.4 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,233.6 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating profit (loss), as reported (pre-tax) |
$ |
247.9 |
|
|
$ |
30.2 |
|
|
$ |
(25.8 |
) |
|
$ |
(12.1 |
) |
|
$ |
240.2 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Charges and (credits): |
|
|
|
|
|
|
|
|
|
||||||||||
Restructuring, impairment and other charges |
|
0.5 |
|
|
|
0.7 |
|
|
|
— |
|
|
|
— |
|
|
|
1.2 |
|
Subtotal |
|
0.5 |
|
|
|
0.7 |
|
|
|
— |
|
|
|
— |
|
|
|
1.2 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Depreciation and amortization |
|
86.5 |
|
|
|
15.7 |
|
|
|
0.2 |
|
|
|
— |
|
|
|
102.4 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA |
$ |
334.9 |
|
|
$ |
46.6 |
|
|
$ |
(25.6 |
) |
|
$ |
(12.1 |
) |
|
$ |
343.8 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign exchange, net |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
12.1 |
|
|
|
12.1 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA, excluding foreign exchange, net |
$ |
334.9 |
|
|
$ |
46.6 |
|
|
$ |
(25.6 |
) |
|
$ |
— |
|
|
$ |
355.9 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating profit margin, as reported |
|
12.8 |
% |
|
|
10.2 |
% |
|
|
|
|
|
|
10.8 |
% |
||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA margin |
|
17.3 |
% |
|
|
15.7 |
% |
|
|
|
|
|
|
15.4 |
% |
||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA margin, excluding foreign exchange, net |
|
17.3 |
% |
|
|
15.7 |
% |
|
|
|
|
|
|
15.9 |
% |
||||
Exhibit 9 |
|||||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
|||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
|||||||||||
(In millions, unaudited) |
|||||||||||
|
March 31, 2026 |
|
December 31, 2025 |
|
March 31, 2025 |
||||||
Cash and cash equivalents |
$ |
960.8 |
|
|
$ |
1,031.9 |
|
|
$ |
1,186.8 |
|
Short-term debt and current portion of long-term debt |
|
(36.4 |
) |
|
|
(34.3 |
) |
|
|
(494.1 |
) |
Long-term debt, less current portion |
|
(384.0 |
) |
|
|
(395.7 |
) |
|
|
(410.8 |
) |
Net cash |
$ |
540.4 |
|
|
$ |
601.9 |
|
|
$ |
281.9 |
|
Net cash is a non-GAAP financial measure reflecting cash and cash equivalents, net of debt. Management uses this non-GAAP financial measure to evaluate our capital structure and financial leverage. We believe net cash is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. Net cash should not be considered an alternative to, or more meaningful than, cash and cash equivalents as determined in accordance with |
Exhibit 10 |
||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES |
||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
||||||||
(In millions, unaudited) |
||||||||
|
|
Three Months Ended March 31, |
||||||
|
|
|
2026 |
|
|
|
2025 |
|
Cash provided by operating activities |
|
$ |
332.5 |
|
|
$ |
441.7 |
|
Capital expenditures |
|
|
(55.6 |
) |
|
|
(61.8 |
) |
Free cash flow |
|
$ |
276.9 |
|
|
$ |
379.9 |
|
Free cash flow, is a non-GAAP financial measure and is defined as cash provided by operating activities less capital expenditures. Management uses this non-GAAP financial measure to evaluate our financial condition. We believe free cash flow is a meaningful financial measure that may assist investors in understanding our financial condition and results of operations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260430180333/en/
Investor relations
Matt Seinsheimer
Senior Vice President, Investor Relations and Corporate Development
Tel: +1 281 260 3665
Email: Matt Seinsheimer
James Davis
Director, Investor Relations
Tel: +1 281 260 3665
Email: James Davis
Media relations
Lucile Turpin
Vice President, Communications
Email: Lucile Turpin
Source: TechnipFMC plc