10-QPeriod: Q1 FY2026

TechnipFMC plc Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 30, 2026For Securities:FTI

Summary

TechnipFMC plc (FTI) reported a strong first quarter for 2026, with total revenue increasing by 11.6% to $2.49 billion, driven primarily by a robust performance in its Subsea segment. Net income attributable to TechnipFMC plc surged by 83.5% to $260.5 million, or $0.64 per diluted share, significantly outpacing the prior year's results. The company's Subsea segment saw a substantial revenue increase of 14.1% to $2.21 billion, fueled by strong backlog conversion and successful execution of iEPCI™ projects, particularly in Brazil, Mozambique, and Suriname. The Surface Technologies segment experienced a slight revenue decline of 4.4% to $284.3 million, primarily due to the timing of project-related activity in the Middle East. Despite lower revenue, Surface Technologies' operating profit improved due to a favorable activity mix.

Financial Highlights

48 data points
Beta

Revenue

$2.49B

Net Income

$260.50M

10.5% Net Margin

EPS (Diluted)

$0.64

Total Assets

$10.09B

Cash & Equivalents

$960.80M

Free Cash Flow

$276.90M

Financial Statements
Beta
Revenue$2.49B
R&D Expenses$17.80M
SG&A Expenses$215.90M
Operating Expenses$2.14B
Operating Income$386.10M
Net Income$260.50M
EPS (Basic)$0.65
EPS (Diluted)$0.64
Shares Outstanding (Basic)400.10M
Shares Outstanding (Diluted)409.90M

Key Highlights

  • 1Total revenue increased by 11.6% to $2.49 billion in Q1 2026 compared to Q1 2025.
  • 2Net income attributable to TechnipFMC plc rose by 83.5% to $260.5 million.
  • 3Diluted earnings per share improved to $0.64 from $0.33 in the prior year period.
  • 4Subsea revenue grew by 14.1% to $2.21 billion, driven by backlog conversion and key projects in Brazil, Mozambique, and Suriname.
  • 5Operating profit for the Subsea segment increased by 40.8% to $349.0 million.
  • 6The company repurchased $264.8 million of ordinary shares during the quarter, demonstrating a commitment to shareholder returns.
  • 7Net cash position remained strong at $540.4 million as of March 31, 2026.

Frequently Asked Questions

The primary driver of the revenue increase was the strong performance of the Subsea segment, which saw a 14.1% rise in revenue to $2.21 billion. This growth was attributed to the conversion of a strong backlog, increased activity in iEPCI™ projects, flexible supply, SPS supply, and subsea services, particularly in key regions like Brazil, Mozambique, and Suriname.

Profitability significantly improved year-over-year. Net income attributable to TechnipFMC plc increased by 83.5% to $260.5 million, leading to a substantial rise in diluted earnings per share from $0.33 in Q1 2025 to $0.64 in Q1 2026. The Subsea segment's operating profit also saw a significant increase of 40.8%.

For Subsea, the company sees continued strong momentum driven by offshore developments, technological innovations like Subsea 2.0® and iEPCI™, and increasing capital investment in offshore projects. For Surface Technologies, while North American activity is sensitive to commodity prices, international markets, particularly the Middle East, represent a significant and less cyclical portion of the segment's revenue, supported by long-term investment horizons of national oil companies.

TechnipFMC maintains a strong balance sheet with $960.8 million in cash and cash equivalents and $540.4 million in net cash as of March 31, 2026. Operating activities generated $332.5 million in cash. The company also repurchased $264.8 million of ordinary shares in the quarter and pays a quarterly dividend, indicating a focus on returning capital to shareholders while managing investments for future growth.