Strong Financial Performance
TechnipFMC reported total company revenue of $2.5 billion, with an adjusted EBITDA of $509 million, achieving a margin of 20.1%. Free cash flow was $261 million, and $271 million was distributed through dividends and share buybacks.
Subsea Segment Success
Subsea orders reached $2.6 billion, contributing to a total company backlog increase of 5% to $16.6 billion. Revenue for the Subsea segment was $2.2 billion, a 14% increase compared to the first quarter.
Strong Subsea Services Performance
Subsea services achieved one of the highest quarterly inbound levels ever. Subsea services revenue is expected to grow to approximately $1.8 billion, aligning with overall revenue growth.
Strategic Partnerships and Innovations
TechnipFMC entered into a new iEPCI collaboration with Vår Energi in Norway and developed innovative technologies like hybrid flexible pipe and all-electric systems for subsea applications.
Positive Outlook for Offshore Activity
TechnipFMC expects continued strength in Subsea inbound with robust offshore activity in regions like Guyana and Mozambique. The company is confident in achieving its $30 billion Subsea inbound target by the end of the year.