TechnipFMC reported higher revenue and earnings for the third quarter of 2026, alongside strong cash generation. The oilfield-services company also raised its full-year revenue outlook for its Subsea business and said it expects at least $14.5 billion of Subsea orders over the next five quarters, including expectations for 2027.
Key details
- Revenue and earnings grew year over year. Revenue was $2.90 billion, up 9.4% from the third quarter of 2025 and 4.8% from the prior quarter. Net income was $418.4 million, or $1.05 per diluted share, compared with $309.7 million and $0.75 per share a year earlier.
- Profitability improved. Adjusted EBITDA was $627.8 million, up 21% year over year, and its margin rose to 21.7% from 19.6%. The company said adjusted EBITDA would have been $636.4 million excluding an $8.6 million foreign-exchange loss. The after-tax impact of that loss was $8 million; excluding it, net income was $426.4 million.
- Cash generation was strong. Cash flow from operations totaled $531 million and free cash flow was $470 million.
- Orders were lower than a year ago, while the backlog edged down. Total inbound orders were $2.32 billion, down 12.4% year over year and 14.9% sequentially. Subsea orders were $2.1 billion. The company’s backlog stood at $16.1 billion, 4.4% below a year earlier and 2.3% below the prior quarter.
- The company raised its 2026 Subsea revenue outlook to a range of $9.6 billion to $9.8 billion.
- TechnipFMC expects at least $14.5 billion in Subsea inbound orders over the next five quarters, including its expectations for 2027. It also initiated financial guidance for Subsea in 2027; the figures are not included in the provided text.
Plain-English implications
TechnipFMC’s quarterly results show year-over-year gains in revenue, earnings and adjusted profitability, with free cash flow of $470 million. At the same time, orders and backlog were below year-earlier levels. The raised 2026 Subsea revenue range and stated order expectations provide the company’s outlook for that business, while the release’s headline figures do not include the details of its new 2027 guidance.