TechnipFMC Q3 2026 results

Financial performance

Total Company revenue in Q3 was $2,895.8 million with net income attributable to TechnipFMC of $418.4 million ($1.05 per diluted share). Adjusted EBITDA was $627.8 million, and adjusted EBITDA excluding an $8.6 million foreign exchange loss was $636.4 million. Cash provided by operations was $530.7 million, capital expenditures were $61 million, and free cash flow was $469.7 million. The company repurchased 4.4 million shares for $320 million and paid $19.5 million in dividends; cash and cash equivalents ended the period at $1,049.3 million, with net cash of $645.3 million.

Subsea performance and orders

Subsea revenue was $2,600 million (up 4.5% sequentially). Operating profit was $522.6 million (20.1% margin) and adjusted EBITDA was $611.6 million (23.5% margin). Subsea inbound orders totaled $2,051.5 million in the quarter (book-to-bill 0.8x). Notable awards included flexible flowlines for Azule Energy (Angola), the Limbayong iEPCI® project for PETRONAS (Malaysia), and flexible pipe supply for Petrobras (Brazil).

Guidance and outlook

The company increased 2026 Subsea revenue guidance to $9.6–9.8 billion, narrowed its effective tax rate outlook to 25–27%, and raised 2026 free cash flow guidance to $1.45–1.55 billion. It issued full-year Subsea guidance for 2027 with revenue of $10.0–10.4 billion and an adjusted EBITDA margin of 22.5–24.0%. Management expects at least $14.5 billion of Subsea inbound orders over the next five quarters and cites a Subsea Opportunities List midpoint of $32 billion.

Partnerships and execution highlights

Operational milestones cited include delivery of the first Subsea 2.0® tree under a 20‑year Chevron frame agreement and the 200th subsea tree delivered for ExxonMobil in Guyana. Strategic agreements include a collaboration with PETRONAS as a deepwater partner and an MoU with bp for 20K subsea production systems for the Paleogene program.