TechnipFMC plc Ordinary Share - FTI STOCK NEWS

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.

Talos Energy (NYSE: TALO) and TechnipFMC (NYSE: FTI) have formed a strategic alliance aimed at advancing Carbon Capture and Storage (CCS) projects across the U.S. Gulf Coast. This collaboration leverages Talos's offshore expertise with TechnipFMC's engineering capabilities to deliver specialized CCS solutions, enhancing their leadership in this emerging market. The partnership will facilitate the entire lifecycle of CCS, from site characterization to operational support. Talos's recent designation as the operator of the first major offshore carbon sequestration hub in the U.S. serves as a foundation for this initiative.

TechnipFMC has acquired the outstanding shares of Magma Global, a leader in composite pipe technology for the Energy Transition. This acquisition aims to leverage Magma's Thermoplastic Composite Pipe (TCP) technology, particularly the use of PEEK polymer, enhancing TechnipFMC's flexible pipe innovations. The integration will support offshore applications, including carbon capture and hydrogen transportation. The combined expertise aims to address significant industry challenges while emphasizing sustainability and innovation.

TechnipFMC (NYSE: FTI) has secured a long-term charter and services contract with Petrobras (NYSE: PBR) for the pipelay support vessel Coral do Atlântico. This three-year contract, starting in Q2 2022, includes an option for extension and highlights the increasing demand for flexible pipelay services in Brazil. The vessel will operate in ultra-deepwater environments, emphasizing TechnipFMC's strong relationship with Petrobras. The contract value is classified as 'substantial,' estimated between $250 million and $500 million.

TechnipFMC plc (NYSE:FTI) reports that as of September 29, 2021, its capital comprises 450,700,480 ordinary shares at USD 1.00 each. No shares are held in treasury, resulting in 450,700,480 total voting rights. TechnipFMC is a leading technology provider for traditional and new energy sectors, focusing on integrated projects and solutions. The company is committed to reducing carbon intensity and aiding energy transition through innovative technologies across its Subsea and Surface Technologies segments.

TechnipFMC plc (NYSE: FTI) has extended its cash tender offer for up to $250 million of its 6.500% Senior Notes due 2026. The new expiration time is set for 11:59 p.m. New York City time on October 7, 2021. As of September 14, 2021, approximately $164.1 million of the notes were validly tendered and accepted on September 15, 2021. An Early Tender Premium of $30.00 applies until the expiration time. The company may prorate the purchase if more than the maximum amount is tendered. Citigroup and BofA Securities are acting as dealer managers for this offer.

TechnipFMC plc (NYSE: FTI) has extended its cash tender offer to purchase up to $250 million of its 6.500% Senior Notes due 2026. The new expiration for the tender offer is set for 11:59 p.m., New York City time, on October 7, 2021. As of September 14, 2021, $164,113,000 in notes were tendered. The company will apply an Early Tender Premium of $30.00 during this period. Financial institutions involved include Citigroup and BofA Securities.