TechnipFMC : Presentation (technipfmc 1q26 earnings presentation)

Published: 2026-04-30 06:56:22 ET FTI

Published on 04/30/2026 at 06:56 am EDT

Q1 2026 Earnings Presentation

April 30, 2026

TechnipFMC and its affiliates. It is to be used only for the benefit of TechnipFMC and may not be distributed, tran

altered, or used for any purpose without the express written con

prietary property of smitted, reproduced, sent of TechnipFMC.

Operational highlights and financial results

Q1 2026 Highlights

Total Company inbound of $2.2 billion; Subsea orders of $1.9 billion

Strengthening trend in order activity reinforces confidence in Subsea inbound of $10 billion in 2026

Subsea Opportunities List increased to ~$30 billion; growth of >30% over last 2 years (midpoint of project scope)

Total Company adjusted EBITDA of $453 million, excluding the impact of foreign exchange

Cash provided by operations of $332 million; free cash flow of $277 million

Total shareholder distributions of $285 million through dividends and share repurchases

$277m

Free cash flow

$453m

Adjusted EBITDA

excluding F/X

$16.5b

Backlog

$2.2b

Inbound orders

Q1 2026 Segment results

In $ millions

1Q26

4Q25

1Q25

QoQ

YoY

Revenue increased 1% sequentially, benefitting from higher

Revenue

2,208

2,194

1,936

14%

iEPCI® project activity, particularly in Brazil. Project revenue

Adjusted EBITDA

441

416

335

32%

grew sequentially in Latin America, Africa and North America,

Adjusted EBITDA margin

20.0%

18.9%

17.3%

110 bps

270 bps

partially offset by lower revenue in Asia Pacific and the North

Inbound orders

1,904

2,340

2,786

-19%

-32%

Sea.

Backlog

15,800

15,872

14,946

Subsea

Adjusted EBITDA of $441 million increased 6% sequentially due to higher project activity.

Surface Technologies

In $ millions

1Q26

4Q25

1Q25

QoQ

YoY

Revenue

284

323

297

-4%

timing of project-related activity in the Middle East, with a

Adjusted EBITDA

minimal portion of the decline attributable to the regional

Adjusted EBITDA margin

17.4%

18.0%

15.7%

170 bps

conflict. The decline was partially offset by higher completion

Inbound orders

249

248

304

-18%

activity in North America.

Backlog

668

700

870

-23%

Revenue decreased 12% sequentially driven by the scheduled

Adjusted EBITDA of $50 million decreased 15% sequentially, largely due to lower activity in the Middle East, partially offset by higher completion activity in North America.

2026 Full-year financial guidance1

As of February 19, 2026

Subsea

Corporate and Other

Revenue in a range of $9.2 - 9.6 billion

Adjusted EBITDA margin in a range of 21 - 22%

Corporate expense, net $115 - 125 million

(excludes charges and credits)

Surface Technologies

Revenue in a range of $1.15 - 1.3 billion

Adjusted EBITDA margin in a range of 16.5 - 18%

Net interest expense $10 - 20 million

Effective tax rate 27 - 31%

Capital expenditures approximately $340 million

Free cash flow2 $1.3 - 1.45 billion

1 Our guidance measures of adjusted EBITDA margin, free cash flow and corporate expense, net, excluding charges and credits are non-GAAP financial measures. We are unable to provide a reconciliation to comparable GAAP financial measures on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from each such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

2 Free cash flow is calculated as cash flow from operations less capital expenditures.

Project values

Karabagh

ONGC

KG-DWN-98/2 Cluster 3

Cairn

KG Deepwater

Equinor

Heidrun Extension

Ithaca

Tornado

Ithaca Energy

Cambo

Adura

Puffin

Equinor

Ringvei Vest

Vår Energi

Gjøa Nord/Ofelia

Chevron

Aphrodite

Mellitah

Bahr Essalam

Cenovus

North White Rose Ext.

LLOG

Who Dat

Kaskida - West Bump

Shell

Leopard

Subsea opportunities over next 24 months*

$250m to $500m

$500m to $1,000m

Above $1,000m

Eni

Northern Hub

Eni

Gendalo/Gandang

Mubadala

Tangkulo

Petronas

Megah Phase 1

ExxonMobil

Longtail (Phase 8)

Petronas

Sloanea

Repsol

Block 29

Shell

Bonga SW

TotalEnergies

Venus

Azule

Greater PAJ

Tortue

TotalEnergies

Cominhos East

Eni

Baleine Phase 3

Eni

Gye Nyame

TotalEnergies

Preowei

Petrobras

Sergipe Deep Water

Petrobras

Flexibles [multiple fields]

Petrobras

Brownfields

Petrobras

Buzios 12

Equinor

Bacalhau Phase 2

Bumerangue

Karoon

Neon

Woodside

Browse Phase 1

Chevron

Gorgon Stage 4

*April 2026 update; project value ranges reflect potential subsea scope

Project values

Q1 2026 Updates - Subsea opportunities

$250m to $500m

$500m to $1,000m

Above $1,000m

Projects with revised scope

Projects removed

Projects added

Karabagh

Petrobras

Sepia 2

Eni

Gye Nyame

Bumerangue

Ithaca Energy

Cambo

$30

$25

$20

$15

$10

Subsea opportunities in the next 24 months

Combined value, in billions*

$25.5

$26.0

$26.5

$26.G

$27.8

$22.3

$2G.0 $30.0

2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26

* Value represents mid-point of range; $1,250m used for projects 'Above $1,000m'

Q1 2026 Cash flow and net cash

Free cash flow

$277M

(in $ millions)

332

540

Net cash

(384)

Long-term debt, less current portion

(36)

Short-term debt and current portion

of long-term debt

961

Cash and cash equivalents

March 31,

2026

(In millions, unaudited)

(56)

(285)

(63)

1,032

961

Cash and cash equivalents at Dec. 31, 2025

Cash flow from operating activities

Capital expenditures

Shareholder distributions

All other Cash and cash equivalents at Mar. 31, 2026

Backlog scheduling provides visibility

Subsea1

as of March 31, 2026

Surface Technologies

as of March 31, 2026

2028+

$5.9B

$15.8

billion

2026

$5.2B

2027+

$353M

$668

million

2026

$315M

2027

$4.7B

1 Backlog does not capture all revenue potential for Subsea Services

Appendix

Glossary

Term Definition

CCS Carbon capture and storage CTO Configure-to-Order

ESG Environmental, social, and governance FID Final investment decision

F/X Foreign exchange

HPHT High-pressure, high-temperature HSE Health, safety, and environment

iEP integrated Engineering, Procurement, Construction, and Installation

Term Definition

iFEED® integrated Front-End Engineering and Design iLO integrated Life of Field

LNG Liquefied natural gas MMb/d Million barrels per day

Mtpa Million metric ton per annum NAM North America

PSI Pounds per square inch ROV Remotely operated vehicle

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, except per share data, unaudited)

Exhibit 6

In addition to financial results determined in accordance with U.S. generally accepted accounting principles (GAAP), the first quarter 2026 Earnings Release also includes non-GAAP financial measures (as defined in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as amended) and describes performance on a year-over-year or sequential basis. Net income attributable to TechnipFMC plc, excluding charges and credits, as well as measures derived from it (including Diluted EPS, excluding charges and credits; Earnings before net interest expense, income taxes, depreciation and amortization, excluding charges and credits ("Adjusted EBITDA"); and Adjusted EBITDA, excluding foreign exchange gains or losses, net; Adjusted EBITDA margin; Adjusted EBITDA margin, excluding foreign exchange, net); Corporate expense, net, excluding charges and credits; Foreign exchange, net and other, excluding charges and credits; net cash (debt); and free cash flow are non-GAAP financial measures.

Non-GAAP adjustments are presented on a gross basis and the tax impact of the non-GAAP adjustments is separately presented in the applicable reconciliation table. Estimates of the tax effect of each adjustment is calculated item by item, by reviewing the relevant jurisdictional tax rate to the pretax non-GAAP amounts, analyzing the nature of the item and/or the tax jurisdiction in which the item has been recorded, the need of application of a specific tax rate, history of non-GAAP taxable income positions (i.e. net operating loss carryforwards) and concluding on the valuation allowance positions.

Management believes that the exclusion of charges, credits and foreign exchange impacts from these financial measures provides a useful perspective on the Company's underlying business results and operating trends, and a means to evaluate TechnipFMC's operations and consolidated results of operations period-over-period. These measures are also used by management as performance measures in determining certain incentive compensation. The foregoing non-GAAP financial measures should be considered by investors in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. The following is a reconciliation of the most comparable financial measures under GAAP to the non-GAAP financial measures.

March 31,

December 31,

March 31,

2026 2025 2025

Net income attributable to TechnipFMC plc

Charges and (credits):

Restructuring, impairment and other charges

$ 260.5

0.6

$ 242.7

52.1

$ 142.0

1.2

Tax on charges and (credits) (0.2) (8.3) (0.3)

Total charges and (credits)

0.4

43.8

0.9

Adjusted net income attributable to TechnipFMC plc $ 260.9 $ 286.5 $ 142.9

Weighted diluted average shares outstanding

409.9

409.7

431.2

Reported earnings per share - diluted

$ 0.64

$ 0.59

$ 0.33

Adjusted earnings per share - diluted

$ 0.64

$ 0.70

$ 0.33

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, unaudited)

Exhibit 7

March 31,

December 31,

March 31,

2026 2025 2025

Net income attributable to TechnipFMC plc

$ 260.5

$ 242.7

$ 142.0

Income (loss) attributable to non-controlling interests

(0.6)

1.9

1.3

Provision for income tax

95.9

33.3

87.0

Net interest expense

6.0

4.6

9.9

Depreciation and amortization

103.6

105.9

102.4

Restructuring, impairment and other charges

0.6

52.1

1.2

Adjusted EBITDA

$ 466.0

$ 440.5

$ 343.8

Foreign exchange, net

(12.8)

(0.9)

12.1

Adjusted EBITDA, excluding foreign exchange, net

$ 453.2

$ 439.6

$ 355.9

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, unaudited)

Exhibit 8

Three Months Ended

Foreign

Surface

Corporate

Exchange,

Subsea Technologies Expense net Total

Revenue

$ 2,208.4 $

284.3 $

- $

2,492.7

Operating profit (loss), as reported (pre-tax)

$ 349.0 $

37.1 $

(37.1) $

12.8 $

361.8

Charges and (credits):

Restructuring, impairment and other charges (0.1) 0.7 - - 0.6

Subtotal

(0.1)

0.7 -

- 0.6

Depreciation and amortization

91.8

11.7

0.1

- 103.6

Adjusted EBITDA $ 440.7 $ 49.5 $ (37.0) $ 12.8 $ 466.0

Foreign exchange, net

- - -

(12.8)

Adjusted EBITDA, excluding foreign exchange, net $ 440.7 $ 49.5 $ (37.0) $ - $ 453.2

Operating profit margin, as reported

15.8%

13.0%

14.5%

Adjusted EBITDA margin

20.0%

17.4%

18.7%

Adjusted EBITDA margin, excluding foreign exchange, net

20.0%

17.4%

18.2%

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, unaudited)

Exhibit 8

Three Months Ended

Foreign

Surface

Corporate

Exchange,

Subsea Technologies Expense net Total

Revenue

$ 2,194.2 $

322.8 $

- $

2,517.0

Operating profit (loss), as reported (pre-tax)

$ 269.9 $

46.3 $

(34.6) $

0.9 $

282.5

Charges and (credits):

Restructuring, impairment and other charges 52.0 (0.2) 0.3 - 52.1

Subtotal

52.0

(0.2)

0.3

- 52.1

Depreciation and amortization

93.7

12.1

0.1

- 105.9

Adjusted EBITDA $ 415.6 $ 58.2 $ (34.2) $ 0.9 $ 440.5

Foreign exchange, net

- - -

(0.9)

Adjusted EBITDA, excluding foreign exchange, net $ 415.6 $ 58.2 $ (34.2) $ - $ 439.6

Operating profit margin, as reported

12.3%

14.3%

11.2%

Adjusted EBITDA margin

18.9%

18.0%

17.5%

Adjusted EBITDA margin, excluding foreign exchange, net

18.9%

18.0%

17.5%

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, unaudited)

Exhibit 8

Three Months Ended March 31, 2025

Foreign

Surface

Corporate

Exchange,

Subsea Technologies Expense net Total

Revenue

$ 1,936.2 $

297.4 $

- $

2,233.6

Operating profit (loss), as reported (pre-tax)

$ 247.9 $

30.2 $

(25.8) $

(12.1) $

240.2

Charges and (credits):

Restructuring, impairment and other charges 0.5 0.7 - - 1.2

Subtotal

0.5

0.7 -

- 1.2

Depreciation and amortization

86.5

15.7

0.2

- 102.4

Adjusted EBITDA

$ 334.9 $ 46.6 $ (25.6) $ (12.1)

$ 343.8

Foreign exchange, net

- - -

12.1

Adjusted EBITDA, excluding foreign exchange, net $ 334.9 $ 46.6 $ (25.6) $ - $ 355.9

Operating profit margin, as reported

12.8%

10.2%

10.8%

Adjusted EBITDA margin

17.3%

15.7%

15.4%

Adjusted EBITDA margin, excluding foreign exchange, net

17.3%

15.7%

15.9%

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, unaudited)

Exhibit 9

March 31, 2026 December 31, 2025 March 31, 2025

Cash and cash equivalents

960.8

$ 1,031.9

$ 1,186.8

Short-term debt and current portion of long-term debt

(36.4)

(34.3)

(494.1)

Long-term debt, less current portion

(384.0)

(395.7)

(410.8)

Net cash

$ 540.4

$ 601.9

$ 281.9

Net cash is a non-GAAP financial measure reflecting cash and cash equivalents, net of debt. Management uses this non-GAAP financial measure to evaluate our capital structure and financial leverage. We believe net cash is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. Net cash should not be considered an alternative to, or more meaningful than, cash and cash equivalents as determined in accordance with U.S. GAAP or as an indicator of our operating performance or liquidity.

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, unaudited)

Exhibit 10

2026 2025

Cash provided by operating activities

$ 332.5

$ 441.7

Capital expenditures Free cash flow

(55.6) (61.8)

$ 276.9 $ 379.9

Free cash flow, is a non-GAAP financial measure and is defined as cash provided by operating activities less capital expenditures. Management uses this non-GAAP financial measure to evaluate our financial condition. We believe free cash flow is a meaningful financial measure that may assist investors in understanding our financial condition and results of operations.

Disclaimer

TechnipFMC plc published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 10:55 UTC.