TechnipFMC(US:FTI)2025-10-23 10:46Financial 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]