Financial Data and Key Metrics Changes - Total company revenue for the quarter was $2.6 billion, with adjusted EBITDA of $531 million, resulting in a margin of 20.1% excluding foreign exchange impacts [5][11] - Free cash flow generated was $448 million, with total shareholder distributions amounting to $271 million through dividends and share repurchases [5][12] - Total company backlog at the end of the period was $16.8 billion [11] Business Line Data and Key Metrics Changes - Subsea revenue was $2.3 billion, a 5% increase from the previous quarter, driven by increased project activity, particularly in iEPCI™ projects in Africa, Australia, and the Americas [11] - Surface Technologies revenue was $328 million, up 3% sequentially, primarily due to higher activity in the North Sea and Asia-Pacific [11] Market Data and Key Metrics Changes - Subsea orders for the quarter totaled $2.4 billion, contributing to a strong commercial performance [5][11] - The company expects to secure over $10 billion in subsea orders in 2025, reflecting confidence in offshore project investments [7][9] Company Strategy and Development Direction - The company is focused on reducing cycle times and improving project returns through innovations like Subsea 2.0 and iEPCI™ [8][9] - There is a strategic shift towards offshore projects due to improved project economics and reduced costs, which is expected to sustain activity levels through the end of the decade [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver strong performance and maintain high levels of project execution, which is critical for securing future contracts [9][10] - The outlook for subsea revenue in 2026 is projected to be between $9.1 billion and $9.5 billion, with an adjusted EBITDA margin of 20.5% to 22% [15][16] Other Important Information - The board authorized an additional $2 billion in share repurchases, reflecting confidence in the company's outlook and commitment to maximizing shareholder value [10][12] - The company reduced debt by $258 million during the quarter, ending with $438 million in gross debt [13] Q&A Session Summary Question: Share repurchase authorization and cash return in 2026 - Management confirmed a commitment to return at least 70% of free cash flow to shareholders, with expectations for strong free cash flow generation in 2026 [22][24] Question: Subsea award intake and future announcements - Management indicated that there are more awards to be announced, governed by client discussions with local governments [30] Question: 2026 subsea guidance and backlog conversion - Management expressed confidence in the 2026 subsea guidance, highlighting strong backlog coverage and the quality of projects [38][39] Question: Surface Technologies outlook and margin drivers - Management noted that the outlook for Surface Technologies remains less certain, but they are well-positioned with clients in key regions [66][68] Question: All-electric subsea infrastructure opportunities - Management discussed progress in all-electric subsea projects, emphasizing applications in carbon capture and storage, and brownfield tiebacks [70][71] Question: Resource levels and capacity constraints - Management reassured that they do not take on work they cannot execute and are confident in their staffing levels to meet project demands [84][85]

Financial Data and Key Metrics Changes - Total company revenue for the quarter was $2.6 billion, with adjusted EBITDA of $531 million, resulting in a margin of 20.1% when excluding foreign exchange impacts [5][11] - Free cash flow generated was $448 million, with total shareholder distributions amounting to $271 million through dividends and share repurchases [5][12] - Total company backlog at the end of the period was $16.8 billion [11] Business Line Data and Key Metrics Changes - Subsea revenue was $2.3 billion, a 5% increase from the previous quarter, driven by increased project activity, particularly in iEPCI projects in Africa, Australia, and the Americas [11] - Surface Technologies revenue was $328 million, up 3% sequentially, primarily due to higher activity in the North Sea and Asia-Pacific [11] Market Data and Key Metrics Changes - Subsea orders for the quarter totaled $2.4 billion, contributing to a strong commercial performance [5][11] - The company expects to secure over $10 billion in subsea orders in 2025, reflecting confidence in the offshore market's growth [7][9] Company Strategy and Development Direction - The company is focused on reducing cycle times and improving project returns through innovations like Subsea 2.0 and iEPCI, which enhance project execution certainty [8][9] - The strategy emphasizes a capital-light approach, with a commitment to return at least 70% of free cash flow to shareholders [10][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the offshore market's resilience and the company's ability to secure high-quality projects, with expectations for continued strong activity through the end of the decade [9][10] - The company anticipates a decline in revenue for the fourth quarter due to seasonal impacts but maintains a positive long-term outlook for subsea revenue growth [14][16] Other Important Information - The board authorized an additional $2 billion in share repurchases, reflecting confidence in the company's outlook and commitment to maximizing shareholder value [10] - The company reduced debt by $258 million during the quarter, ending with $438 million in gross debt [13] Q&A Session Summary Question: Share repurchase authorization and cash return in 2026 - Management confirmed a commitment to return at least 70% of free cash flow to shareholders, with expectations for strong free cash flow generation in 2026 [22][24] Question: Subsea award intake and working capital expectations - Management indicated that there are more awards to be announced, and working capital expectations will be normalized moving forward [30][31] Question: 2026 subsea guidance and backlog conversion - Management expressed confidence in the 2026 subsea guidance, highlighting strong backlog coverage and the potential for accelerated backlog conversion due to cycle time reductions [39][40] Question: Surface Technologies outlook and all-electric subsea infrastructure - Management noted that the outlook for Surface Technologies remains less certain, while progress on all-electric subsea infrastructure is ongoing, with specific applications identified [66][70] Question: Resource levels and execution capacity - Management assured that they do not take on work they cannot execute and are confident in their staffing and resource levels to meet project demands [84][85]

Financial Data and Key Metrics Changes - Total company revenue for the quarter was $2.6 billion, with adjusted EBITDA of $531 million, resulting in a margin of 20.1% when excluding foreign exchange impacts [4][10] - Free cash flow generated was $448 million, with total shareholder distributions amounting to $271 million through dividends and share repurchases [4][11] - The company ended the period with a total backlog of $16.8 billion [10] Business Line Data and Key Metrics Changes - Subsea revenue was $2.3 billion, reflecting a 5% increase compared to the previous quarter, driven by increased project activity, particularly in iEPCI™ projects [10] - Surface Technologies revenue was $328 million, up 3% from the second quarter, primarily due to higher activity in the North Sea and Asia-Pacific [10] - Adjusted EBITDA for subsea was $506 million, with a margin of 21.8%, while Surface Technologies had an adjusted EBITDA of $54 million, maintaining a margin of 16.4% [10][11] Market Data and Key Metrics Changes - The company reported strong inbound orders of $2.6 billion, with subsea orders contributing $2.4 billion [10] - The company anticipates securing over $10 billion in subsea orders in 2025 and maintaining strong activity levels through the end of the decade [6][8] - The offshore market is expected to receive an increasing share of capital investment due to improvements in project execution and cost management [6][8] Company Strategy and Development Direction - The company is focused on reducing cycle times and improving project returns through innovations like Subsea 2.0 and the integrated execution model iEPCI™ [7][8] - The strategy emphasizes operational excellence and the ability to deliver projects on time and within budget, which has led to increased direct awards from clients [8][64] - The company has authorized an additional $2 billion in share repurchases, reflecting confidence in its outlook and commitment to maximizing shareholder value [9][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over $10 billion in subsea orders for 2025, citing strong commercial success and customer trust [6][8] - The company highlighted the importance of continuous improvement and lean operating principles to enhance project execution and returns [9][39] - Management noted that the offshore market is becoming more favorable for investment due to improved project economics and reduced execution risks [6][48] Other Important Information - The company reduced its debt by $258 million during the quarter, ending with $438 million in gross debt [11][12] - Cash and cash equivalents stood at $877 million, with a net cash position of $439 million [12] - The company expects a decline in revenue for the fourth quarter due to seasonal impacts, with adjusted EBITDA margin anticipated to decrease to 18.8% [12][13] Q&A Session Summary Question: Share repurchase authorization and cash return in 2026 - Management confirmed a commitment to return at least 70% of free cash flow to shareholders, maintaining the same level as in 2025 [18][20] Question: Subsea award intake and working capital expectations - Management indicated that there are still more awards to be announced and emphasized the strength of their order intake, which is differentiated by direct awards [22][23][25] Question: 2026 subsea guidance and backlog conversion - Management expressed confidence in the 2026 subsea guidance, highlighting strong backlog coverage and the quality of projects [27][30] Question: Drivers of margin expansion in 2026 - Management identified Subsea 2.0 and iEPCI™ execution as key drivers for margin expansion, emphasizing sustainable operational improvements [36][38] Question: Outlook for Surface Technologies - Management noted that the outlook for Surface Technologies remains less certain compared to subsea, but highlighted strong positioning in key markets [51][54] Question: All-electric subsea infrastructure opportunities - Management discussed progress in all-electric subsea projects, emphasizing applications in carbon capture and storage, and brownfield tiebacks [55][57] Question: Execution focus as backlog deepens - Management reiterated a commitment to only take on work that can be executed effectively, ensuring high performance and repeat awards [62][66]

Financial Data and Key Metrics Changes - Total company revenue for the quarter was $2.6 billion, with adjusted EBITDA of $531 million, resulting in a margin of 20.1% when excluding foreign exchange impacts [6][14] - Free cash flow generated was $448 million, with total shareholder distributions amounting to $271 million through dividends and share repurchases [7][16] - The company ended the period with a total backlog of $16.8 billion [14] Business Line Data and Key Metrics Changes - In the Subsea segment, revenue was $2.3 billion, reflecting a 5% increase compared to the previous quarter, driven by increased project activity, particularly in Africa, Australia, and the Americas [14][15] - Surface Technologies reported revenue of $328 million, a 3% increase from the second quarter, primarily due to higher activity in the North Sea and Asia Pacific [15] Market Data and Key Metrics Changes - Subsea orders for the quarter totaled $2.4 billion, contributing to a strong commercial performance, particularly in South America [7][8] - The company anticipates a continued shift in capital investment towards offshore projects due to improved project economics and execution certainty [9][12] Company Strategy and Development Direction - The company is focused on reducing cycle times and improving project returns through innovations like Subsea two point zero and the integrated execution model iEPCI [11][12] - The management believes that offshore projects will increasingly attract capital investment, driven by advancements in technology and project execution [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving over $10 billion of Subsea orders in 2025 and maintaining strong activity levels through the end of the decade [8][12] - The company has increased its share repurchase authorization by $2 billion, reflecting confidence in future performance and commitment to shareholder value [13][21] Other Important Information - The company reduced its debt by $258 million during the quarter, ending with $438 million of gross debt [17] - Full-year adjusted EBITDA guidance has been increased to approximately $1.83 billion, excluding foreign exchange impacts [19] Q&A Session Summary Question: Share repurchase authorization and cash return in 2026 - Management confirmed a commitment to return at least 70% of free cash flow to shareholders, maintaining the same level as in 2025 [25][27] Question: Subsea award intake and working capital expectations - Management indicated that there are still more awards to be announced, and the strong inbound order intake reflects the company's differentiated position in the market [32][35] Question: Subsea revenue guidance and backlog conversion - Management expressed confidence in the 2026 revenue guidance, emphasizing strong backlog coverage and the ability to convert backlog into revenue efficiently [40][42] Question: Surface Technologies outlook and margin drivers - Management noted that while the outlook for Surface Technologies is less certain, they are well-positioned with key clients and technology offerings [74][76] Question: Electric subsea infrastructure opportunities - Management highlighted progress in all-electric subsea projects and identified key areas such as carbon capture and storage that will benefit from this technology [78][80]

Core Insights - FMC Technologies (FTI) reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.65 per share, and up from $0.64 per share a year ago [1][2] - The company achieved revenues of $2.65 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.16% and increasing from $2.35 billion year-over-year [3] Earnings Performance - The earnings surprise for the quarter was +15.38%, following a previous surprise of +19.3% when earnings were $0.68 per share against an expected $0.57 [2] - Over the last four quarters, FMC Technologies has exceeded consensus EPS estimates three times [2] Revenue Performance - The company has also topped consensus revenue estimates three times in the last four quarters [3] - The current consensus EPS estimate for the upcoming quarter is $0.52 on revenues of $2.52 billion, and for the current fiscal year, it is $2.18 on revenues of $9.9 billion [8] Stock Performance - FMC Technologies shares have increased approximately 29.6% since the beginning of the year, outperforming the S&P 500's gain of 13.9% [4] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [7] Industry Outlook - The Oil and Gas - Field Services industry, to which FMC Technologies belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [9] - The performance of FMC Technologies may be influenced by the overall outlook for the industry [9]

Financial Highlights - Total Company inbound orders reached $2.6 billion[7], achieving a book-to-bill above 1.0x for 15 of the past 16 quarters[8] - Adjusted EBITDA excluding F/X was $531 million[7] - Free cash flow amounted to $448 million[7], with full-year guidance increased to $1.3 – 1.45 billion[8] - Shareholder distributions totaled $271 million[8], and share repurchase authorization increased by $2 billion[8] Segment Performance - Subsea revenue increased by 5% sequentially and 14% year-over-year, reaching $2.319 billion[9] - Subsea Adjusted EBITDA increased by 5% sequentially and 36% year-over-year, reaching $506 million[9] - Subsea Adjusted EBITDA margin was 21.8%[9] - Surface Technologies revenue increased by 3% sequentially and 2% year-over-year, reaching $328 million[10] - Surface Technologies Adjusted EBITDA increased by 3% sequentially and 10% year-over-year, reaching $54 million[10] - Surface Technologies Adjusted EBITDA margin was 16.4%[10] Backlog and Future Opportunities - Subsea backlog reached $16.038 billion[9] - Surface Technologies backlog reached $775 million[10] - Subsea opportunities over the next 24 months are valued between $26.5 billion[19]

Financial Performance - Total revenue for Q3 2025 was $2,647.3 million, representing a 12.7% year-over-year increase[4] - Net income for the quarter was $309.7 million, or $0.75 per diluted share, a 12.8% increase compared to Q3 2024[4] - Adjusted EBITDA was $518.9 million, with an adjusted EBITDA margin of 19.6%, reflecting a 34.4% year-over-year increase[5] - Free cash flow for the quarter was $448 million, with total shareholder distributions of $270.5 million[28] - For the third quarter of 2025, total revenue was reported at $2.647 billion, an increase from $2.534 billion in the previous quarter and $2.348 billion in the same quarter last year[46] - The net income attributable to TechnipFMC plc for the third quarter was $309.7 million, compared to $269.5 million in the previous quarter and $274.6 million in the same quarter last year[46] - The company reported a basic earnings per share of $0.76 for the third quarter, up from $0.65 in the previous quarter and $0.64 in the same quarter last year[46] - Adjusted EBITDA for Q3 2025 was $518.9 million, slightly down from $520.8 million in Q2 2025[69] - Operating profit margin as reported was 15.0%, compared to 15.4% in the previous quarter[72] - Free cash flow for the three months ended September 30, 2025, was $447.8 million, significantly higher than $226.7 million in the same period of 2024[88] Orders and Backlog - Inbound orders totaled $2,648.1 million, with a backlog of $16,813.6 million, up 14.4% year-over-year[4] - Subsea inbound orders were $2.4 billion, with a book-to-bill ratio of 1.0x for the quarter[16] - Total inbound orders for Q3 2025 were $2,648.1 million, a decrease of 6.4% from $2,831.0 million in Q2 2025[53] - The order backlog as of September 30, 2025, reached $16,813.6 million, up from $16,645.9 million in Q2 2025, representing a 1.0% increase[54] Revenue by Segment - Subsea revenue was $2,319.2 million, a 14.4% increase from Q3 2024, driven by strong project activity[13] - Surface Technologies reported revenue of $328.1 million, a 2.4% year-over-year increase[23] - Subsea segment revenue for the third quarter was $2.319 billion, compared to $2.216 billion in the previous quarter and $2.028 billion in the same quarter last year[49] - The company's full-year financial guidance for 2025 includes Subsea revenue projected between $8.4 billion and $8.8 billion, and Surface Technologies revenue projected between $1.2 billion and $1.35 billion[31] Future Outlook - The company expects to secure over $10 billion in Subsea orders in 2025, indicating strong future growth prospects[11] - Adjusted EBITDA margin for Subsea is expected to be in the range of 19% to 20%, while Surface Technologies is projected to be between 16% and 16.5%, an increase from the previous guidance of 15% to 16%[32] - Free cash flow is projected to be between $1.3 billion and $1.45 billion, up from the previous guidance of $1.0 billion to $1.15 billion[32] Capital and Expenses - Corporate expenses for the third quarter were $28.0 million, slightly up from $26.6 million in the previous quarter[49] - Capital expenditures are expected to be approximately $340 million for 2025[31] - The company repaid $254.8 million in debt obligations during Q3 2025, contributing to a total repayment of $496.4 million for the nine months ended September 30, 2025[60] Cash Flow and Assets - Cash provided by operating activities for the nine months ended September 30, 2025, was $1,311.0 million, significantly higher than $382.1 million for the same period in 2024[60] - Total current assets increased to $5,742.0 million as of September 30, 2025, compared to $5,467.6 million at the end of 2024, marking a growth of 5.0%[57] - Cash and cash equivalents decreased to $876.6 million from $1,157.7 million at the end of 2024, a decline of 24.2%[57] - Total assets as of September 30, 2025, were $10,251.2 million, up from $9,869.2 million at the end of 2024, reflecting a growth of 3.9%[57] - Net cash (debt) as of September 30, 2025, was $438.6 million, compared to a net debt of $(129.2) million a year earlier[85] Other Financial Metrics - The effective tax rate is projected to be between 28% and 32% for 2025[31] - The company incurred restructuring, impairment, and other charges totaling $3.1 million for the three months ended September 30, 2025[72] - Depreciation and amortization expenses for the three months ended September 30, 2025, were $118.2 million[72] - The company reported a foreign exchange gain of $12.5 million for the three months ended September 30, 2025[72] Strategic Initiatives - TechnipFMC is investing $100 million in new technology development aimed at enhancing operational efficiency[89] - The company plans to expand its market presence in Asia-Pacific, targeting a 25% increase in regional revenue by 2025[89] - TechnipFMC completed the acquisition of a smaller competitor, which is expected to contribute an additional $50 million in annual revenue[89] - The company reported a 30% increase in user data analytics capabilities, enhancing decision-making processes[89] - TechnipFMC's new product line is projected to generate $200 million in revenue within the first year of launch[89] - The company has implemented a new strategy focusing on sustainability, aiming for a 40% reduction in carbon emissions by 2030[89]

Core Insights - TechnipFMC reported strong financial results for the third quarter of 2025, with total revenue of $2,647.3 million, a 4.4% increase sequentially and a 12.7% increase year-over-year [3][4] - The company achieved a net income of $309.7 million, or $0.75 per diluted share, reflecting a 14.9% sequential increase and a 12.8% year-over-year increase [3][4] - Adjusted EBITDA was reported at $518.9 million, with an adjusted EBITDA margin of 19.6% [4][5] Financial Performance - Total revenue for the third quarter was $2,647.3 million, up from $2,534.7 million in the previous quarter and $2,348.4 million in the same quarter last year [3] - Net income attributable to TechnipFMC was $309.7 million, with a net income margin of 11.7% [3][4] - Diluted earnings per share increased to $0.75, compared to $0.64 in the previous quarter and $0.63 in the same quarter last year [3][4] - Adjusted net income was $312.1 million, also translating to $0.75 per diluted share [4] - Inbound orders totaled $2,648.1 million, while the backlog increased to $16,813.6 million, reflecting a 14.4% year-over-year growth [3][11] Subsea Segment Highlights - Subsea revenue reached $2,319.2 million, a 4.6% increase from the previous quarter and a 14.4% increase year-over-year [11][12] - Operating profit for the Subsea segment was $401.3 million, with an operating profit margin of 17.3% [11][13] - Subsea inbound orders were $2.4 billion, with a book-to-bill ratio of 1.0x [11][14] Surface Technologies Segment Highlights - Surface Technologies reported revenue of $328.1 million, a 3% increase from the previous quarter [17] - Operating profit for Surface Technologies was $36.8 million, reflecting a 57.3% increase sequentially [18] - Inbound orders for Surface Technologies were $266.6 million, a decrease of 4.1% from the previous quarter [19] Shareholder Returns - The Board of Directors authorized an additional $2 billion in share repurchases, bringing the total authorized amount to $2.3 billion, representing nearly 16% of outstanding shares [6][10] - The company has returned over $1.6 billion to shareholders through stock repurchases and dividends since July 2022 [7] Cash Flow and Capital Management - Free cash flow for the quarter was $448 million, with cash provided by operating activities amounting to $525 million [20][21] - The company ended the period with cash and cash equivalents of $876.6 million, with net cash increasing to $438.6 million [22] Financial Guidance - The company updated its full-year financial guidance for 2025, projecting Subsea revenue in the range of $8.4 to $8.8 billion and Surface Technologies revenue in the range of $1.2 to $1.35 billion [23] - Free cash flow guidance was increased to $1.3 to $1.45 billion [23]

Core Insights - FTI Consulting has appointed Warren Dunn as Senior Managing Director and Leader of the Risk Advisory practice in Australia, bringing extensive experience in risk and regulation, particularly in financial services [1][2][4] Company Overview - FTI Consulting is a global expert firm specializing in crisis and transformation, with over 7,900 employees across 32 countries and territories as of June 30, 2025 [7] - The company generated $3.70 billion in revenues during fiscal year 2024 [7] Appointment Details - Warren Dunn has three decades of experience in risk management, focusing on non-financial risk, regulatory compliance, and complex customer remediation [2][3] - His previous role was as a Partner at a Big Four firm, where he supported clients in banking, insurance, and wealth management [4] Strategic Focus - In his new role, Dunn will enhance the Risk Advisory practice by addressing the evolving needs of Australian businesses amid changing market conditions [3][6] - He will utilize forensic technology and advanced data analytics to assist clients in managing risks related to fraud, misconduct, and compliance breaches [3] Regulatory Environment - The regulatory landscape is increasingly focused on digital transformation, compliance, and scrutiny, with heightened requirements in operational risk, cyber resilience, and anti-money laundering [4][6] - Dunn's expertise will help clients navigate these regulatory changes effectively [6]

Core Viewpoint - TechnipFMC plc (FTI) is set to report its third-quarter fiscal 2025 results on October 23, with earnings estimated at 65 cents per share and revenues at $2.62 billion, reflecting a year-over-year increase in both metrics [1][3]. Group 1: Previous Quarter Performance - In the last reported quarter, FTI achieved adjusted earnings of 68 cents per share, surpassing the Zacks Consensus Estimate of 36 cents, driven by strong performance in the Subsea segment [2]. - FTI's revenues for the last quarter were $2.5 billion, exceeding the Zacks Consensus Estimate by 2.2% [2]. Group 2: Earnings Estimates and Trends - FTI has consistently beaten the Zacks Consensus Estimate in the past four quarters, with an average surprise of 32.34% [3]. - The Zacks Consensus Estimate for third-quarter fiscal 2025 earnings has remained stable but experienced one downward revision recently, indicating a 1.56% year-over-year increase [3]. - The revenue estimate for the third quarter suggests an 11.44% increase compared to the same period last year [3]. Group 3: Revenue Drivers - FTI's revenues are expected to improve, with the third-quarter estimate rising from $2.35 billion in the previous year, largely due to strong contributions from the Subsea segment [4]. - The Subsea segment's revenues are projected to increase by 11.3% year-over-year, reaching $2.26 billion [5]. Group 4: Cost Considerations - FTI's total costs and expenses are anticipated to rise by 8% year-over-year to $2 billion in the third quarter, which may negatively impact earnings [6]. - The cost of service revenues is expected to increase by 1.3% year-over-year, reaching $1.21 billion, while the costs of product revenues and lease revenues are projected to rise by 21.2% and 8.2%, respectively [6]. Group 5: Earnings Prediction Model - The Zacks model does not predict a definitive earnings beat for FTI this quarter, as the Earnings ESP is -3.68%, which may pressure quarterly earnings [7][8]. - FTI currently holds a Zacks Rank of 2 (Buy) [10].