TechnipFMC Reports $2.23 Billion Revenue in Q1 2025, Driven by Subsea Growth

TechnipFMC plc reported a total revenue of $2.23 billion for the first quarter of 2025, marking a 9.4% increase from $2.04 billion in the same period of 2024. The growth was primarily driven by a significant rise in subsea revenue, which increased by $201.4 million to $1.94 billion, attributed to higher backlog and increased activity in regions such as Indonesia, Norway, and Nigeria. In contrast, revenue from the Surface Technologies segment decreased by $9.8 million to $297.4 million, largely due to reduced activity in North America and Europe, as well as the impact of the previous year's sale of the Measurement Solutions business.

The company's net income for the quarter was $143.3 million, a decline from $160.9 million in the prior year, reflecting a decrease in earnings per share from $0.36 to $0.34. The decline in net income was influenced by a higher provision for income taxes, which rose to $87.0 million from $49.7 million, resulting in an effective tax rate increase from 23.6% to 37.8%. Total costs and expenses also increased to $1.97 billion, up from $1.88 billion, driven by higher selling, general, and administrative expenses.

In terms of operational developments, TechnipFMC's order backlog reached $15.82 billion as of March 31, 2025, up from $14.38 billion at the end of 2024. The subsea segment backlog increased significantly to $14.95 billion, reflecting strong demand for offshore projects. The company reported inbound orders of $3.09 billion for the quarter, a notable increase from $2.77 billion in the same period last year, with subsea orders alone accounting for $2.79 billion.

Strategically, TechnipFMC has focused on enhancing its technological capabilities, particularly through its integrated Engineering, Procurement, Construction, and Installation (iEPCI™) projects, which have gained traction in the market. The company has also emphasized its commitment to sustainability and energy transition, with initiatives aimed at reducing carbon emissions and developing renewable energy resources. The outlook for the company remains positive, with expectations of continued growth in energy demand and a strong pipeline of projects, particularly in offshore markets.

Looking ahead, TechnipFMC anticipates that its unique offerings and technological advancements will position it favorably in the evolving energy landscape. The company is committed to maintaining a strong balance sheet and sufficient liquidity to support its operational and investment needs, while also planning to continue its share repurchase program, having repurchased $250.1 million of ordinary shares in the first quarter of 2025.