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Core Viewpoint - TechnipFMC plc reported strong fourth-quarter 2024 results, with adjusted earnings and revenues exceeding expectations, primarily driven by the Subsea segment's performance [1][2]. Financial Performance - Adjusted earnings per share for Q4 2024 were 54 cents, surpassing the Zacks Consensus Estimate of 35 cents and up from 14 cents in the same quarter last year [1]. - Revenues reached $2.4 billion, exceeding the Zacks Consensus Estimate by 3.1% and increasing from $2.1 billion year-over-year [1]. - Adjusted EBITDA for the Subsea unit was $338.6 million, beating the estimate of $329 million, while Surface Technologies unit's EBITDA was $53.5 million, above the consensus of $49.3 million [2]. Order and Backlog - Inbound orders for Q4 increased by 90.9% year-over-year to $2.9 billion, contributing to a total backlog of $14.4 billion, which is an 8.7% increase from the previous year [3]. - The Subsea segment's revenues were $2 billion, a 19% increase from $1.7 billion in the prior year, driven by record iEPCI™ and Subsea 2.0 orders [5]. - Surface Technologies segment revenues were $319.4 million, down 10.6% year-over-year, missing the consensus estimate due to lower volumes in North America [6]. Shareholder Returns - The company repurchased 2.4 million shares for $70 million in Q4, with total shareholder distributions amounting to $91.2 million, including a dividend payment of $21.2 million [3]. - A quarterly cash dividend of 5 cents per share was declared, unchanged from the previous quarter, with a total share repurchase authorization of $1.8 billion [4]. Financial Position - Total costs and expenses for the quarter were $2.2 billion, an increase of 11.7% from $1.9 billion year-over-year [8]. - As of December 31, 2024, cash and cash equivalents stood at $1.2 billion, with long-term debt of $607.3 million, resulting in a debt-to-capitalization ratio of 16.4% [9]. 2025 Outlook - The company anticipates Subsea revenues between $8.4 billion and $8.8 billion and Surface Technologies revenues between $1.2 billion and $1.35 billion for 2025 [11]. - Expected adjusted EBITDA margins are 19-20% for Subsea and 15-16% for Surface Technologies, with projected free cash flow of $850 million to $1 billion [11][12].

Financial Performance - Cash flow from operations grew 39% year-over-year to $961.0 million, with free cash flow increasing 45% to $679.4 million[251]. - Revenue for 2024 increased by $1,259.1 million to $9,083.3 million, a growth of 16.1% compared to 2023[263]. - Subsea revenue rose by $1,385.1 million, driven by a 49.6% increase in backlog, particularly in regions like Angola, the United States, Guyana, and Australia[264]. - Gross profit for 2024 increased to $1,723.1 million, up from $1,274.1 million in 2023, with Subsea gross profit contributing $450.9 million to this increase[265]. - Income from continuing operations surged to $855.3 million in 2024, compared to $51.9 million in 2023, marking a 1,548.0% increase[263]. - Operating cash flows rose to $961.0 million in 2024, an increase of $268.0 million compared to $693.0 million in 2023, driven by higher project volumes and improved cash collections[286]. - Free cash flow for 2024 was $679.4 million, up from $467.8 million in 2023, indicating strong operational efficiency[291]. - Net cash increased to $272.5 million in 2024 from a net debt of $115.6 million in 2023, reflecting improved financial leverage[285]. Orders and Backlog - Inbound orders improved 5% year-over-year to $11.6 billion, driving backlog to $14.4 billion, marking a fourth consecutive year of growth in backlog[251]. - Total inbound orders for 2024 reached $11,574.6 million, compared to $10,982.9 million in 2023, indicating a strong demand[279]. - Order backlog as of December 31, 2024, was $14,376.3 million, an increase of $1,145.3 million from $13,231.0 million in 2023[280]. - Orders in the Subsea segment increased 7% year-over-year to $10.4 billion, with integrated project orders reaching nearly $5 billion from a diversified set of operators[251]. - The company secured $20.2 billion of Subsea orders over the past two years, with expectations to exceed $10 billion of inbound orders in the current year[256]. - Surface Technologies' order backlog decreased by $208.7 million to $858.2 million as of December 31, 2024, primarily from projects for ADNOC and Saudi Aramco in the Middle East[281]. Shareholder Returns - Shareholder distributions nearly doubled year-over-year, returning $486 million through dividends and share repurchases, with an additional $1.0 billion authorized for share repurchases[251]. - Cash dividends paid in 2024 totaled $85.9 million, representing an annualized dividend of $0.20 per share[297]. - Share repurchase authorization increased to $1.8 billion, with $400.1 million of ordinary shares repurchased in 2024[298]. Tax and Financial Management - The effective tax rate for 2024 was significantly reduced to 9.0% from 74.9% in 2023, reflecting changes in geographical profit mix and deferred tax asset valuation[271]. - A gain of $71.3 million was recognized from the disposal of the Measurement Solutions business in 2024[268]. - Net interest expense decreased by $25.2 million in 2024, attributed to a reduction in outstanding debt[270]. - The company recorded a benefit of $194.9 million from the release of a valuation allowance on US net deferred tax assets during the year ended December 31, 2024[318]. - A valuation allowance of $63.9 million was established for a Brazil entity, resulting in an additional income tax expense of $23.2 million and a further tax expense of $40.7 million recognized within other comprehensive loss[318]. Market and Economic Outlook - The price of oil is supported by supply-related actions, including disciplined capital spending and voluntary production reductions by OPEC+ countries[251]. - The company anticipates over 35 million barrels per day of new oil production will be required by 2040, with approximately 10 million barrels per day expected from new deepwater production[255]. - International markets represent over 60% of Surface Technologies segment revenue, benefiting from exposure to the North Sea, Asia Pacific, and the Middle East[258]. Credit and Financial Stability - The company achieved investment grade debt ratings from multiple credit rating agencies, reflecting a stronger financial profile and improved market outlook[251]. - TechnipFMC's credit rating was upgraded to 'BBB-' by S&P and 'Baa3' by Moody's, reflecting improved financial stability[295][296]. - As of December 31, 2024, the availability of borrowings under the Revolving Credit Facility was $1,250.0 million, with no outstanding letters of credit[293]. Operational Efficiency and Costs - Selling, general and administrative expenses remained flat year-over-year, indicating stable operational costs[266]. - The company's gross profit for 2024 was negatively impacted by approximately $55.1 million due to changes in contract estimates related to ongoing projects[313]. - Certain projects experienced a net negative impact of $50.0 million due to changes in estimated project costs, offset partially by positive impacts of $97.3 million from favorable negotiations[314]. - The actuarial assumptions for pension benefits are subject to change, which may materially affect the financial position or results of operations[322]. Currency and Interest Rate Risks - A 10% increase or decrease in average exchange rates of all foreign currencies would have changed revenue and income before income taxes by approximately $475.3 million and $46.4 million, respectively[328]. - A 10% increase in the value of the U.S. dollar would have resulted in an additional loss of approximately $110.6 million in the net fair value of cash flow hedges as of December 31, 2024[330]. - A 10% increase in interest rates across all tenors would lead to a decrease of $6.0 million in unrealized earnings from foreign currency forward contracts designated as cash flow hedges[331]. - The company does not hedge the translation impact on earnings from foreign currency fluctuations, exposing it to potential revenue changes[328]. - The calculation of income tax expense involves uncertainties in complex tax laws across various jurisdictions, which may lead to materially different payments from current estimates[319].

TechnipFMC plc (NYSE:FTI) Q4 2024 - Earnings Conference Call February 26, 2025 8:30 AM ET Company Participants Matt Seinsheimer - SVP, IR and Corporate Development Doug Pferdehirt - Chair and Chief Executive Officer Alf Melin - EVP and CFO Conference Call Participants Arun Jayaram - JP Morgan Scott Gruber - Citigroup David Anderson - Barclays Mark Wilson - Jefferies Mark Bianchi - TD Cowen Kurt Hallead - Benchmark Victoria McCulloch - RBC Ati Modak - Goldman Sachs Operator Hello and thank you for standing b ...

FMC Technologies (FTI) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 54.29%. A quarter ago, it was expected that this provider of equipment and services to energy companies would post earnings of $0.39 per share when it actually produced earnings of $0.64, delivering a surprise of 6 ...

Q4 2024 Earnings Presentation February 27, 2025 Disclaimer Forward-looking statements This communication contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events, market growth and recovery, growth of our new energy business, and anticipated revenues, earnings, cash flows, or other aspects of our operation ...

Press Release TechnipFMC Announces Fourth Quarter 2024 Results Total Company revenue in the fourth quarter was $2,367.3 million. Net income attributable to TechnipFMC was $224.7 million, or $0.52 per diluted share. These results included after-tax charges and credits of $11.5 million of expense, or $0.03 per share, which included the following pre-tax items (Exhibit 6): TechnipFMC.com Page 1 of 26 • Subsea inbound of $2.7 billion in the quarter; full-year orders of $10.4 billion • Total Company backlog of $ ...

WASHINGTON, Feb. 26, 2025 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the expansion of its Food & Agribusiness practice with the appointment of Lauren Chupp as a Senior Managing Director within the Corporate Finance & Restructuring segment. Ms. Chupp, who is based in Atlanta, is an experienced advisor to the global food and agriculture industry with nearly two decades of experience in strategy, transactions and transformation services, helping clients navigate the rapidly changing f ...

Core Insights - FMC Technologies is well-positioned to continue its earnings-beat streak, particularly in the upcoming report, with a strong history of exceeding earnings estimates [1][3] - The company has an average surprise of 51.41% over the past two quarters, indicating robust performance [1][2] Earnings Performance - In the last reported quarter, FMC Technologies achieved earnings of $0.64 per share, surpassing the Zacks Consensus Estimate of $0.39 per share by 64.10% [2] - In the previous quarter, the company reported earnings of $0.43 per share against an expectation of $0.31 per share, resulting in a surprise of 38.71% [2] Earnings Estimates - There has been a favorable change in earnings estimates for FMC Technologies, with a positive Earnings ESP of +1.66%, suggesting analysts are optimistic about the company's earnings prospects [3][6] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) indicates a high likelihood of another earnings beat [6] Predictive Metrics - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [4] - The Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [5] Upcoming Earnings Report - The next earnings report for FMC Technologies is expected to be released on February 27, 2025 [6]

Core Viewpoint - TechnipFMC plc (FTI) is expected to report fourth-quarter results on February 27, with earnings estimated at 36 cents per share and revenues of $2.3 billion [1]. Group 1: Previous Quarter Performance - In the last reported quarter, FTI exceeded the consensus estimate with adjusted earnings per share of 64 cents, surpassing the Zacks Consensus Estimate of 39 cents [3]. - Revenues for the last quarter were $2.3 billion, slightly above the Zacks Consensus Estimate by 0.5% [3]. - FTI has consistently beaten the Zacks Consensus Estimate in the past four quarters, with an average earnings surprise of 39.25% [3]. Group 2: Estimate Revisions and Year-over-Year Comparisons - The Zacks Consensus Estimate for fourth-quarter fiscal 2024 earnings has remained unchanged over the past week, indicating a year-over-year increase of 157.14% [4]. - The revenue estimate suggests a 10.57% increase compared to the same period last year [4]. Group 3: Factors Influencing Upcoming Results - FTI's revenues are projected to have increased to $2,255.7 million from $2,077.7 million in the previous year, driven by strong performance in the Subsea segment [5]. - The Subsea segment's revenues are expected to rise by 12.4% year-over-year, totaling $1,933.2 million [6]. Group 4: Cost Considerations - Total costs and expenses for FTI are anticipated to have increased by 4.2% year-over-year to $2,020.4 million in the fourth quarter [7]. - The cost-of-service revenues are expected to rise by 31.4% year-over-year, reaching $1,099 million, influenced by inflation and a tight labor market [7]. Group 5: Earnings Prediction Model - The Zacks model does not indicate a definitive earnings beat for FTI this quarter, as the Earnings ESP is -7.04% [8][9]. - FTI currently holds a Zacks Rank of 3, suggesting a neutral outlook [9].