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]