TechnipFMC Q3 revenue rises year-over-year on Subsea project activity 

Overview

• Energy technology provider's Q3 revenue rose 9.4% yr/yr to $2.9 bln

• Adjusted EPS for Q3 increased 40% yr/yr to $1.05

• Company raised full-year 2026 Subsea revenue guidance

Outlook

• TechnipFMC raises 2026 Subsea revenue guidance to $9.6-$9.8 bln

• Company expects 2027 Subsea revenue between $10.0 bln and $10.4 bln

• TechnipFMC anticipates Subsea inbound orders of at least $14.5 bln over next five qtrs

Result Drivers

• PROJECT ACTIVITY - Increased Subsea project activity in Indonesia and Brazil and higher services activity drove sequential revenue growth

• EXECUTION - Co attributed improved operating profit to strong execution and higher project and services activity

• MILESTONES - Co cited delivery of Subsea 2.0 trees for Chevron and ExxonMobil as operational milestones supporting client confidence

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads

• Oct 29 - Technip Energies beats Q3 core profit forecasts as project delivery unit rebounds

• Oct 27 - Baker Hughes rounds out oilfield services earnings with lower quarterly profit

• Oct 28 - Philippines in talks with several countries, including Saudi Arabia, for oil storage

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)