TechnipFMC plc Ordinary Share - FTI STOCK NEWS

TechnipFMC (NYSE: FTI) has announced that its Chair and Chief Executive Officer, Doug Pferdehirt, will be speaking at the Goldman Sachs Energy, CleanTech & Utilities Conference. The event is scheduled for Tuesday, January 7, 2025, at 1:40 p.m. ET in Miami, Florida.

A live webcast of the speaking engagement will be accessible through the company's Investor Relations website. The company noted that there will be no presentation materials for this event. Following the live broadcast, an audio replay will remain available on the website for 180 days.

TechnipFMC (NYSE: FTI) has secured a substantial contract worth between $250 million and $500 million from Shell Nigeria Exploration and Production Company for the Bonga North development in Nigeria. The scope includes design and manufacture of Subsea 2.0® production systems, including subsea tree systems, manifolds, jumpers, controls, and services.

Shell continues to implement TechnipFMC's Subsea 2.0® configure-to-order solution across multiple basins, being the first to adopt this technology. The contract will be included in inbound orders in the fourth quarter of 2024.

TechnipFMC (NYSE: FTI) has received full notice to proceed with a major carbon capture and storage project for the Northern Endurance Partnership (NEP), a joint venture between bp, Equinor, and TotalEnergies. The contract, valued between $500 million and $1 billion, involves delivering an all-electric subsea system using TechnipFMC's integrated Engineering, Procurement, Construction, and Installation (iEPCI™) model.

The scope includes supplying and installing trees, manifolds, umbilicals, and infield flowlines for the UK's East Coast Cluster. This marks the first all-electric integrated project for carbon transportation and storage, utilizing TechnipFMC's technology to enable extended distances.

TechnipFMC has secured a major integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from TotalEnergies for the GranMorgu project in Block 58, marking the first oil and gas development offshore Suriname. The contract, valued at over $1 billion, combines TechnipFMC's subsea expertise with Saipem's EPCI solutions and J-Lay pipelay capabilities.

The scope includes Subsea 2.0® tree systems, manifolds, connectors, topside control equipment, umbilicals, flexible jumpers, and flexible risers. The award will be included in inbound orders in Q4 2024.

TechnipFMC (NYSE: FTI) has announced that its Chair and CEO, Doug Pferdehirt, will be speaking at the BofA Securities Global Energy Conference in Houston, TX. The presentation is scheduled for Wednesday, November 13, 2024, at 8:50 a.m. CT. A live webcast will be accessible through the company's Investor Relations website, with no accompanying presentation materials. An audio replay will remain available on the website for one year following the event.

TechnipFMC (NYSE: FTI) and Prysmian (MILAN: PRY) have signed a collaboration agreement to accelerate global development of floating offshore wind power. The partnership combines TechnipFMC's system design and integration expertise in dynamic offshore applications with Prysmian's leadership in submarine power cable systems. The companies will deliver an optimized solution through a fully integrated Engineering, Procurement, Construction and Installation (iEPCI™) model, covering mooring, anchoring, and dynamic inter-array and export cable systems. This integrated approach aims to improve project economics and reduce execution risks in offshore wind development.

TechnipFMC (NYSE: FTI) reported strong Q3 2024 results with revenue reaching $2,348.4 million, up 14.2% year-over-year. Net income increased 205.1% to $274.6 million, with earnings per share of $0.63. The company achieved a record total backlog of $14.7 billion, with Subsea backlog reaching a new high of $13.7 billion.

The Board authorized an additional $1 billion share repurchase program, bringing total authorization to $1.2 billion. Subsea inbound orders were $2.5 billion with a book-to-bill of 1.2. The company updated its Subsea financial guidance for 2025 and increased its shareholder distribution target for 2024.

TechnipFMC (NYSE: FTI) has secured an integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from bp for the Kaskida development in the Gulf of Mexico. The contract, valued between $250 million and $500 million, covers:

• Design and manufacture of subsea production systems, including 20,000 psi (20K) standardized subsea trees and manifolds
• Design, manufacture, and installation of subsea umbilicals, risers, and flowlines

This award follows an integrated Front End Engineering and Design (iFEED®) study by TechnipFMC. The company's high-pressure solutions are important for unlocking economically attractive opportunities in the Paleogene. The contract was included in inbound orders for the third quarter of 2024.

TechnipFMC (NYSE: FTI) has secured two significant subsea contracts from Petrobras for Brazil's pre-salt fields. The first, a substantial contract valued between $250 million and $500 million, involves designing, engineering, and manufacturing riser flexible pipe, along with associated services. The second, a significant contract worth between $75 million and $250 million, covers subsea production systems for the Atapu 2, Sepia 2, and Roncador projects, including installation support and life-of-field services.

Both contracts will utilize local manufacturing and servicing capabilities in Brazil, supporting the development of pre-salt reserves. Jonathan Landes, President of Subsea at TechnipFMC, highlighted the company's leadership in flexible pipe technology and its standardized equipment platform. These awards will be included in inbound orders for the third quarter of 2024.