TechnipFMC plc reported a significant increase in financial performance for the second quarter of 2026, with total revenue reaching $2.76 billion, a 9% increase from $2.53 billion in the same period last year. The company's net income also rose to $362.1 million, up 35% from $268.3 million in the prior year. For the first half of 2026, revenue totaled $5.26 billion, marking a 10.2% increase compared to $4.77 billion in the first half of 2025, while net income for the period was $622 million, a 51.1% increase from $411.6 million.
The growth in revenue was primarily driven by a substantial increase in Subsea revenue, which rose by $270.6 million in the second quarter, attributed to a 17.4% increase in backlog as of December 31, 2025, compared to the previous year. This increase was particularly notable in regions such as Latin America, Asia Pacific, Africa, and the Middle East, although it was partially offset by lower activity in Europe and North America. The company's gross profit also improved, reaching $684.7 million for the quarter, up from $593.3 million a year earlier.
In terms of strategic developments, TechnipFMC has been actively managing its capital structure, with share repurchases totaling $684.9 million in the first half of 2026. The company has also maintained a strong liquidity position, with cash and cash equivalents amounting to $991.8 million as of June 30, 2026. The company’s total debt decreased to $401.9 million from $430 million at the end of 2025, reflecting a commitment to reducing leverage. Additionally, TechnipFMC's credit ratings were upgraded by both Fitch and S&P to 'BBB', indicating a stable outlook.
Operationally, TechnipFMC's order backlog stood at $16.44 billion as of June 30, 2026, slightly down from $16.57 billion at the end of 2025. The Subsea segment accounted for the majority of this backlog, with significant projects including TotalEnergies' Mozambique LNG and GranMorgu. The Surface Technologies segment, however, saw a decrease in backlog, primarily due to project timing and regional conflicts affecting the Middle East.
Looking ahead, TechnipFMC remains optimistic about the global energy market, anticipating continued demand for oil and natural gas, particularly from offshore resources. The company is well-positioned to leverage its technological advancements and operational strengths to capitalize on emerging opportunities in both traditional and renewable energy sectors. The management expects to maintain a strong focus on innovation and efficiency to drive future growth and enhance shareholder value.
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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