TechnipFMC reported first quarter 2026 revenue of $2.5 billion, an increase of 11.6% from the prior-year period, with diluted earnings per share of $0.64. The results were primarily driven by strong execution and growth in the Subsea segment.
Key Highlights
- The Subsea segment delivered revenue of $2.2 billion, an increase of 14.1% year-over-year, with adjusted EBITDA margins expanding 270 basis points to 20.0%.
- Subsea inbound orders for the quarter were strong at $1.9 billion, and the company reiterated its confidence in achieving $10 billion of Subsea orders for the full year 2026.
- The company generated free cash flow of $277 million and returned a total of $285 million to shareholders through share repurchases and dividends.
- The Surface Technologies segment saw revenue decline 4.4% year-over-year to $284.3 million, attributed to the timing of project activity in the Middle East.