Key Takeaways PLUG's Q1 revenues from key legacy products fell 7% year over year to $63.5 million. Sales of hydrogen infrastructure, GenDrive units and cryogenic gear all declined in the quarter. Electrolyzer revenues surged 581.7% on global demand, boosted by major deals and new project deliveries.Plug Power Inc. (PLUG) is facing headwinds in some of its core product categories. In the first quarter of 2025, revenues from equipment, related infrastructure and other products declined 7% year over year to ...

Core Insights - TechnipFMC plc reported first-quarter 2025 adjusted earnings of 33 cents per share, missing the Zacks Consensus Estimate of 36 cents, primarily due to a 4.8% year-over-year increase in costs and expenses, although the earnings improved from 22 cents in the same quarter last year driven by better performance in the Subsea segment [1] - The company's revenues of $2.2 billion also missed the Zacks Consensus Estimate by 1.1%, but increased from $2 billion in the year-ago quarter [1] Financial Performance - Adjusted EBITDA for the Subsea unit was $334.9 million, exceeding the Zacks Consensus Estimate of $331 million, while the Surface Technologies unit's adjusted EBITDA was $46.6 million, beating the consensus mark of $41.94 million [2] - First-quarter inbound orders increased by 11.3% year-over-year to $3.1 billion, with the order backlog totaling $15.8 billion as of March-end, up 17.2% from the previous year [2] Segment Analysis - Subsea segment revenues totaled $1.9 billion, up 11.6% from $1.7 billion in the year-ago quarter, driven by higher project activity in Asia Pacific and Brazil, although it missed projections by 5.3% [4] - Surface Technologies segment recorded revenues of $297.4 million, down 3.2% year-over-year, but beat projections of $288.4 million; adjusted EBITDA increased by 12.6% due to higher project activity in North America, despite an 18.1% drop in inbound orders [5] Shareholder Returns - The board declared a quarterly cash dividend of 5 cents per share, unchanged from the previous quarter, to be paid on June 4, 2025 [3] - The company repurchased 8.9 million common shares for a total of $250.1 million, with total shareholder returns for the quarter amounting to $271.1 million, including a dividend payment of $21 million [3] Financial Position - TechnipFMC reported costs and expenses of $2 billion, up 4.8% from $1.9 billion in the year-ago quarter; the company generated $441.7 million in cash flow from operations, with free cash flow increasing to $379.9 million [6] - As of March 31, the company had cash and cash equivalents of $1.2 billion and long-term debt of $410.8 million, resulting in a debt-to-capitalization ratio of 11.8% [6] 2025 Outlook - The company expects Subsea unit revenues in the range of $8.4 billion to $8.8 billion and Surface Technologies unit revenues between $1.2 billion and $1.35 billion for 2025 [8] - Anticipated adjusted EBITDA margins are 19-20% for the Subsea segment and 15-16% for the Surface Technologies segment [8] - Free cash flow is expected to be between $1 billion and $1.15 billion, an increase from the prior guidance of $850 million to $1 billion [9]