TechnipFMC plc Ordinary Share - FTI STOCK NEWS

TechnipFMC plc (NYSE: FTI) reported first quarter 2021 results, showcasing a revenue increase of 3.1% to $1,632.0 million from $1,582.6 million in Q1 2020. The company recovered significantly from a $3,234.8 million loss in the same quarter last year, posting an income of $430.3 million. Diluted earnings per share rose to $0.95, up from $(7.23) a year earlier. Adjusted EBITDA surged 107.3% to $165.2 million compared to $79.7 million in Q1 2020, indicating strong operational performance.

TechnipFMC (NYSE:FTI) has announced the sale of 25 million shares of Technip Energies, representing approximately 14% of its share capital, at a price of €11.10 per share, totaling €277.5 million. Concurrently, Technip Energies will buy around 1.8 million shares at the same price. After the sale, TechnipFMC will hold about 31% of Technip Energies’ shares and has committed to a 60-day lock-up on its remaining shares. The placement targets institutional investors and will settle around April 30, 2021.

TechnipFMC (NYSE:FTI) announced receiving a Notice to Proceed for a significant subsea production system contract from Santos Ltd. for the Barossa project, located 300 kilometers north of Darwin, Australia. The contract, valued between $75 million and $250 million, includes the supply of subsea trees, manifolds, and control systems, along with installation support. This project aims to extend the life of the existing Darwin LNG facility, reinforcing TechnipFMC's partnership with Santos and commitment to Australia's energy sector.

TechnipFMC has initiated a private placement of 25 million Technip Energies shares, equating to approximately 14% of its share capital. Concurrently, Technip Energies will acquire €20 million of shares at the placement price. Following these transactions, TechnipFMC will maintain around 31% ownership in Technip Energies. A 60-day lock-up on remaining shares is also in place. The placement targets qualified institutional investors, with final terms expected by April 27 and settlement around April 30, 2021.

TechnipFMC (NYSE: FTI) has secured a major subsea contract with Petrobras for the Marlim and Voador fields offshore Brazil. The contract involves supplying up to eight manifolds utilizing the innovative all-electric Robotic Valve Controller (RVC). This technology enhances efficiency by replacing traditional hydraulics, reducing costs, and minimizing environmental impact. The contract value falls between $75 million and $250 million, and it has already been included in the company’s first-quarter financials.

TechnipFMC (NYSE:FTI) will release its Q1 2021 earnings on April 27, 2021, post-market close. A teleconference to discuss the results is scheduled for April 28, at 1 p.m. London time (8 a.m. New York time). Callers are encouraged to join 10 minutes early and can access the call through various international phone numbers. The event will also be webcast, and a replay will be available later the same day. TechnipFMC is focused on delivering integrated technology solutions to the energy sectors while advancing their commitment to sustainable practices.

TechnipFMC (NYSE: FTI) has partnered with Bombora to advance renewable energy through a floating wave and wind power project. This collaboration aims to leverage TechnipFMC's integrated Engineering, Procurement, Construction, and Installation (iEPCI™) capabilities alongside Bombora's patented mWave™ technology, which converts wave energy into electricity. Initial efforts center around the InSPIRE project, expected to deliver 6 megawatts of combined power, with future expansions aiming for 12 and 18 megawatts. This partnership emphasizes a commitment to sustainable energy solutions.

TechnipFMC (NYSE: FTI) announced a $100 million investment from Bpifrance in Technip Energies, stemming from its separated entity's share purchase agreement. This investment reduces TechnipFMC's ownership in Technip Energies to 82.3 million shares, currently valued at $1.2 billion. Bpifrance has been a shareholder since 2009 and aims to bolster its long-term commitment. TechnipFMC plans to further decrease its stake in Technip Energies over the next 18 months, following a previous $200 million funding round.

TechnipFMC (NYSE:FTI) has partnered with Magnora ASA to create Magnora Offshore Wind, focusing on floating offshore wind projects. This collaboration combines Magnora's renewable energy experience and TechnipFMC's integrated EPCI capabilities, promising growth in the offshore wind sector. They have begun work on seabed leasing applications in Scotland and Norway, further aiming to explore new markets. This initiative aligns with TechnipFMC’s strategy to strengthen its position in the renewable energy market, while leveraging its innovative Deep Purple™ program for offshore hydrogen production.