TechnipFMC plc reported a total revenue of $2.49 billion for the first quarter of 2026, marking an increase of 11.6% from $2.23 billion in the same period of 2025. The growth was primarily driven by a significant rise in Subsea revenue, which increased by $272.2 million, attributed to a 17.4% increase in backlog as of December 31, 2025. The company’s net income for the quarter was $260.5 million, up 83.5% from $142.0 million a year earlier, resulting in earnings per share of $0.65, compared to $0.34 in the prior year.
In terms of operational performance, TechnipFMC's Subsea segment generated $2.21 billion in revenue, a 14.1% increase from the previous year, while the Surface Technologies segment saw a decline in revenue to $284.3 million, down 4.4%. The overall gross profit rose to $585.3 million, up from $464.9 million, reflecting improved project economics and a favorable activity mix. The company also reported a decrease in net interest expense to $6.0 million, down from $9.9 million, due to reduced outstanding debt.
Strategically, TechnipFMC has been focusing on enhancing its operational efficiency and expanding its market presence. The company has been executing multiple first-of-its-kind projects in its New Energy business, including significant contracts for carbon capture and storage. The total order backlog as of March 31, 2026, was $16.47 billion, slightly down from $16.57 billion at the end of 2025, with the Subsea segment accounting for $15.80 billion of this backlog.
The company’s liquidity position remains strong, with cash and cash equivalents totaling $960.8 million as of March 31, 2026. TechnipFMC has maintained compliance with all debt covenants and has a robust capital structure, supported by a $1.25 billion revolving credit facility. The company also announced a quarterly cash dividend of $0.05 per share, reflecting its commitment to returning value to shareholders while continuing to invest in growth opportunities.
Looking ahead, TechnipFMC anticipates continued growth driven by increased offshore capital flows and a positive long-term outlook for oil and natural gas demand. The company is well-positioned to leverage its technological and operational strengths to capitalize on emerging opportunities in both traditional and renewable energy sectors.
About TechnipFMC plc
TechnipFMC is a global provider of technology, engineering, and services for the energy industry, specializing in subsea and surface solutions. Its core offerings include integrated subsea systems, project execution models, and onshore equipment for oil, gas, and renewable energy markets. The company focuses on innovation, digitalization, and energy transition solutions, serving major oil companies, national oil firms, and energy service providers worldwide.
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