FTI 10-K Annual Reports

TechnipFMC plc (FTI) filed an amendment to its 2025 10-K on March 26, 2026, primarily to include conformed signatures of its directors and officers that were inadvertently omitted from the original filing on February 19, 2026. This amendment does not alter the financial statements or any other disclosures made in the original 10-K and speaks as of the original filing date. Investors should refer to the February 19, 2026, filing for substantive financial and operational information regarding the fiscal year ended December 31, 2025. Key takeaways from the filing indicate that TechnipFMC is a large accelerated filer and not a shell company. The aggregate market value of its ordinary shares held by non-affiliates was approximately $9.8 billion as of June 30, 2025, based on a share price of $34.44. The company has 400,044,930 ordinary shares outstanding. PricewaterhouseCoopers LLP is the auditor.

TechnipFMC plc (FTI) has filed an Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. This amendment is purely procedural, intended to correct an inadvertent omission of director and officer signatures from the original filing on February 27, 2025. Crucially, no financial statements or other disclosures have been revised or updated in this amendment. The company continues to affirm its status as a large accelerated filer and is not a shell company. Its ordinary shares held by non-affiliates had a market value of approximately $7.8 billion as of June 28, 2024. Investors should note that this filing provides no new financial information or operational updates for the fiscal year 2024. Any analysis or decisions based on this filing should refer to the original Form 10-K filed on February 27, 2025, which contains the substantive financial and operational disclosures. The amendment also includes new certifications from the principal executive and financial officers as required by SEC regulations for amended filings, though certain paragraphs are omitted as no financial statements are being presented.

TechnipFMC plc reported robust financial performance for the fiscal year ending December 31, 2025, marked by significant growth in revenue and operating profit. The company's Subsea segment was the primary driver of this success, with strong revenue increases attributed to the execution of integrated projects (iEPCI™) and a growing services backlog, particularly in key regions like Brazil and Norway. The Surface Technologies segment saw a modest revenue increase, bolstered by international activity, especially in the Middle East. Financially, TechnipFMC demonstrated considerable strength with substantial growth in cash provided by operating activities and free cash flow, enabling increased shareholder distributions through share repurchases and dividends. The company also focused on strengthening its balance sheet by reducing debt and maintaining a healthy liquidity position, supported by investment-grade credit ratings. Looking ahead, TechnipFMC remains optimistic about the energy market, anticipating continued demand for oil and natural gas, with a strategic focus on technological innovation and integrated solutions to improve project economics and reduce carbon intensity across both traditional and emerging energy sectors.

TechnipFMC plc (FTI) reported a robust financial performance for the fiscal year 2024, demonstrating significant growth and improved profitability. The company experienced a substantial increase in revenue, driven primarily by its Subsea segment, which saw strong demand for integrated projects and services. The Surface Technologies segment, while facing some regional headwinds, benefited from international market strength and strategic divestitures. Key financial highlights include a 16.1% increase in total revenue to $9.1 billion, driven by strong inbound orders that grew 5% year-over-year, leading to a backlog of $14.4 billion. The company also significantly improved its cash flow from operations by 39% to $961 million, with free cash flow increasing by 45% to $679.4 million. TechnipFMC returned approximately $486 million to shareholders through dividends and share repurchases, underscoring a commitment to capital return. The company also achieved investment-grade debt ratings, reflecting a strengthened financial profile. Looking ahead, TechnipFMC anticipates continued global economic growth and sustained demand in the offshore and Middle East markets, positioning it for further value creation.

TechnipFMC plc (FTI) reported a strong year in 2023, with significant revenue growth driven by increased activity in its Subsea and Surface Technologies segments. The company's Subsea segment saw a substantial increase in inbound orders and backlog, buoyed by record integrated project awards and a higher adoption of its Subsea 2.0 product platform. The Surface Technologies segment also experienced growth, particularly supported by international markets. The company demonstrated improved financial performance, highlighted by a significant increase in cash flow from operations and free cash flow, which more than doubled year-over-year. TechnipFMC also initiated a quarterly cash dividend and announced a commitment to return over 60% of annual free cash flow to shareholders through 2025, signaling a focus on shareholder returns. Looking ahead, TechnipFMC anticipates continued market strength, with a strategic focus on offshore and Middle East markets, new technologies, and expanding subsea services. The company is also actively progressing its New Energy initiatives, with over $1 billion in inbound orders for these areas, anticipating significant contributions from carbon transportation and storage, offshore floating renewables, and hydrogen solutions.

TechnipFMC plc (FTI) reported a revenue of $6.7 billion for the fiscal year ended December 31, 2022, a modest increase of 4.6% from the previous year, driven by stronger performance in its Subsea and Surface Technologies segments. The Subsea segment experienced a revenue increase of 2.5% to $5.46 billion, supported by higher project and services activity, particularly in Brazil and the UK, and a significant 36% rise in inbound orders to $6.74 billion. The Surface Technologies segment saw a more robust revenue growth of 15.3% to $1.24 billion, primarily due to increased operator activity in North America and resilient international markets. The company reported a net loss of $107.2 million for the year, a significant shift from the $13.3 million net income in 2021. This was largely influenced by a $27.7 million loss on its investment in Technip Energies and a $29.8 million loss on early extinguishment of debt, alongside other operational factors. Despite the net loss, the company's operating profit from continuing operations improved significantly year-over-year, with Subsea operating profit more than doubling to $317.6 million and Surface Technologies operating profit increasing to $58.3 million. TechnipFMC also announced plans to initiate a quarterly dividend in the second half of 2023, signaling a focus on returning value to shareholders.

TechnipFMC plc (FTI) reported a decrease in revenue for 2021 compared to 2020, primarily due to lower Subsea backlog, although Surface Technologies revenue saw an increase driven by activity in key international markets. The company successfully navigated a challenging market, marked by the separation of its Technip Energies business and a significant reduction in impairment charges, which led to an improvement in operating profit for both segments compared to the prior year. Looking ahead, TechnipFMC anticipates a multi-year upcycle for energy demand, projecting continued strength in inbound orders through at least 2025. The company is also strategically investing in the energy transition, focusing on greenhouse gas removal, offshore floating renewables, and hydrogen, leveraging its core expertise. Financially, TechnipFMC generated positive free cash flow in 2021, supported by disciplined capital expenditures and proceeds from the sale of its Technip Energies stake, reinforcing its commitment to a strong balance sheet and ample liquidity.

TechnipFMC plc's (FTI) 2020 10-K filing details a challenging year marked by significant financial impacts from the COVID-19 pandemic, leading to substantial impairment charges and a net loss. The company completed the spin-off of its Technip Energies segment in February 2021, reshaping its business structure to focus on two core segments: Subsea and Surface Technologies. This strategic separation is aimed at allowing both entities to pursue distinct market opportunities and unlock value. Despite the downturn and impairments, the company highlights ongoing R&D, technological advancements like its iEPCI™ and Subsea 2.0™ platforms, and a strategic focus on operational efficiency and cost reduction to navigate the volatile energy market. The company is positioned to benefit from a projected rise in long-term energy demand, with a focus on deepwater developments and natural gas. The Subsea segment is expected to see growth driven by inbound orders and direct awards, while Surface Technologies is looking to gain traction with integrated solutions like iComplete™ and iProduction™. The company's financial strategy emphasizes maintaining a strong balance sheet and liquidity through disciplined capital expenditure and debt management, particularly in light of the ongoing energy transition.

TechnipFMC plc's 2019 10-K filing details a challenging year marked by significant impairments, particularly in the Subsea and Surface Technologies segments, leading to a substantial net loss. Despite these headwinds, the company reported revenue growth, driven by increased project activity in Subsea and resilience in its Onshore/Offshore segment, bolstered by demand for LNG facilities. The company is strategically repositioning itself, announcing plans to separate into two distinct entities: one focused on Subsea and Surface Technologies, and the other on Onshore/Offshore and other services. Key initiatives include the continued development of its integrated subsea offering (iEPCI™), which is gaining market traction, and a focus on cost optimization across its operations. The company's backlog remains strong, providing visibility into future revenue. Investors should monitor the progress of the planned separation and the impact of ongoing market volatility in the oil and gas sector, particularly in relation to commodity prices and customer capital expenditure decisions.

TechnipFMC plc's (FTI) 2018 10-K filing highlights a challenging year marked by a significant net loss of $1.92 billion, primarily driven by substantial impairment charges totaling $1.78 billion related to goodwill and vessels, alongside a $280 million legal provision. This financial performance reflects ongoing industry pressures, including the impact of lower oil prices on customer capital spending, which led to a 16.6% decrease in revenue compared to 2017. Despite the net loss, the company is strategically positioned to benefit from anticipated improvements in the subsea market, driven by increasing final investment decisions and the adoption of integrated subsea project delivery models. The Onshore/Offshore segment shows resilience, particularly in LNG projects, and the Surface Technologies segment experienced revenue growth due to a North American market recovery. The company is focused on cost reduction, operational efficiency, and technological innovation, including the further development and commercialization of its Subsea 2.0™ product platform, to navigate the current market and capitalize on future opportunities. Management has identified material weaknesses in internal control over financial reporting, specifically in period-end financial reporting and accounting for income taxes, and is implementing remediation measures.

TechnipFMC plc, following its merger in early 2017, presented its 2017 annual report highlighting its position as a global leader in the subsea, onshore/offshore, and surface industries. The company offers a comprehensive portfolio of solutions for oil and gas production and transformation, from discrete products to integrated solutions, with a focus on enhancing project lifecycles and client economics through technology and innovation. Despite a challenging market environment due to lower oil prices, the company has implemented cost reduction and restructuring initiatives to align operations with anticipated activity levels. The report also disclosed material weaknesses in internal controls over financial reporting, specifically related to foreign exchange adjustments, IT general controls, and period-end financial reporting processes in certain regions, with remediation plans underway. The company's strategy centers on early involvement in project design (iFEED), integrated project delivery (iEPCI™), innovation, and superior project execution. Key developments in 2017 included the launch of the Subsea 2.0 product suite, designed to reduce equipment size and complexity, and continued investment in technology to address evolving market needs. The company anticipates an increase in subsea market activity in 2018, driven by a blend of project sizes and service opportunities. While facing competitive pricing, particularly in international markets for Surface Technologies, TechnipFMC aims to leverage its integrated business model and technological differentiation to drive profitable and sustainable growth.

This 10-K filing for TechnipFMC plc, filed on January 13, 2017, details the formation of the company as a result of the impending merger between FMC Technologies, Inc. (FMCTI) and Technip S.A. As of December 31, 2016, TechnipFMC was a newly formed entity that had not yet commenced operations, with its primary purpose being the facilitation of this business combination. The filing highlights the significant legal, regulatory, and operational complexities involved in merging these two major oil and gas service companies, including extensive risk factors related to the successful consummation of the merger, potential tax implications in both the U.S. and U.K., and the challenges of integrating two large organizations. Investors should note that as of the filing date, the merger was slated for completion on January 16, 2017. The report emphasizes that TechnipFMC's financial statements for the period ending December 31, 2016, reflect only its formation activities and nominal financial position, not the operational results of the combined entities. Key risks include potential termination fees, disruption to ongoing businesses, integration challenges, and the impact of foreign currency fluctuations and global economic uncertainties, such as Brexit. The successful integration and realization of expected synergies are critical for the future performance of the combined entity.