TechnipFMC plc Ordinary Share - FTI STOCK NEWS

TechnipFMC (NYSE: FTI) has signed a Memorandum of Understanding with Orbital Marine Power to collaborate on tidal energy commercialization. Orbital's floating turbine technology aims to harness underwater currents for reliable renewable energy. This partnership combines TechnipFMC's project management expertise and capabilities with Orbital's innovative technology, potentially reducing costs and meeting the growing demand for renewable energy. The UK currently has one gigawatt of consented tidal sites, highlighting the initiative's market potential.

TechnipFMC (NYSE: FTI) will hold its 2021 Analyst Day on November 16, 2021, in Houston, featuring leadership presentations on the company's impact on the energy sector. The session runs from 8:30 a.m. to noon and is available via live webcast. Key highlights include potential subsea inbound orders nearing $8 billion by 2025 and initiatives to drive diversification in new energy ventures, targeting a market valued at $80 billion by 2030. The company plans to initiate a quarterly dividend in 2023 and aims for substantial growth in subsea services and free cash flow conversion.

TechnipFMC (NYSE: FTI) has secured a significant contract from Exxon Mobil Corporation (NYSE: XOM) for the Yellowtail development project. The contract entails supplying a subsea production system, with a project value classified as large (between $500 million and $1 billion). The project includes delivering 51 enhanced vertical deepwater trees, 12 manifolds, and associated tooling and equipment. TechnipFMC plans to enhance local hiring in Guyana, reaffirming its commitment to the region's workforce and capabilities.

TechnipFMC plc (NYSE:FTI) announced that as of October 29, 2021, its capital comprises 450,700,480 ordinary shares, with each share valued at USD 1.00. The company holds no shares in treasury, resulting in a total of 450,700,480 voting rights. TechnipFMC is a prominent technology provider in the energy sector, offering integrated projects and services. The company focuses on pioneering technologies and solutions that enhance project economics while addressing energy transition goals.

TechnipFMC (NYSE: FTI) and Saipem (MILAN: SPM) have announced a global commercial agreement to collaborate on specific Subsea Umbilicals, Risers and Flowlines (SURF) projects. The partnership aims to leverage their complementary assets and technologies, enhancing project economics and minimizing risks. This collaboration is expected to optimize project execution under various models including EPCI and iEPCI™. Both companies view this alliance as a strategic step towards improving service offerings and expanding market opportunities, particularly for iEPCI™ solutions.

TechnipFMC plc (NYSE: FTI) announced the filing of its Quarterly Report on Form 10-Q with the SEC on October 27, 2021. This report covers the three and nine-month periods ending September 30, 2021, and includes unaudited interim condensed consolidated financial statements prepared under U.S. GAAP. The report can be accessed on the SEC's website, as well as on TechnipFMC's investor relations page.

TechnipFMC, trading under NYSE: FTI, has announced the availability of its Earnings Call Presentation for the third quarter 2021 financial results. The teleconference is scheduled for October 21, 2021. TechnipFMC positions itself as a leading technology provider for traditional and new energy sectors, focusing on integrated projects and innovations. With around 20,000 employees, the company emphasizes strong execution and innovation to support clients' energy transition goals.

TechnipFMC reported its third-quarter 2021 results with total revenue of $1,579.4 million, a decrease of 5.4% sequentially and 8.6% year-over-year. The company recorded a loss from continuing operations of $40.6 million or $0.09 per share. Inbound orders reached $1.1 billion for the Subsea segment, totaling $3.9 billion year-to-date. Cash flow from operations was $135.9 million, and free cash flow stood at $88.6 million. The company reduced its net debt by $401 million and ended the quarter with cash and cash equivalents of $1.0 billion.

TechnipFMC (NYSE: FTI) and Talos Energy Inc. (NYSE: TALO) have formed a strategic alliance to promote Carbon Capture and Storage (CCS) solutions across the U.S. Gulf Coast. This partnership aims to leverage Talos's offshore experience and TechnipFMC's expertise in subsea engineering to enhance CCS adoption. Key initiatives include storage site characterization and life-of-field operations, further positioning both companies as leaders in the Gulf Coast CCS market. The collaboration underscores a commitment to reducing CO₂ emissions during the energy transition.