TechnipFMC plc Ordinary Share - FTI STOCK NEWS

TechnipFMC (NYSE: FTI) has announced that its Chair and CEO, Doug Pferdehirt, will be speaking at the Barclays 38th Annual CEO Energy-Power Conference on September 3, 2024, at 12:40 p.m. ET in New York, NY. This high-profile event provides an opportunity for investors and industry experts to gain insights into TechnipFMC's strategies and outlook.

The company will provide a live webcast of the event, accessible through their Investor Relations website. Notably, there will be no presentation materials associated with the event. For those unable to attend or watch live, an audio replay of the webcast will be available on the website for 180 days following the event, ensuring extended access to the information shared during the conference.

TechnipFMC (NYSE: FTI) announced its Q2 2024 results, showcasing strong performance. Revenue hit $2.33 billion, growing 13.9% sequentially and 17.9% year-over-year. Net income surged to $186.5 million, translating to $0.42 per share. Adjusted figures showed net income at $188.9 million and EPS at $0.43. Adjusted EBITDA reached $361.4 million with a 15.5% margin.

Subsea segment drove growth with $2.8 billion in inbound orders and a 1.4x book-to-bill ratio. Subsea revenue was $2 billion, up 15.8%, with operating profit at $277.7 million, a 77.3% increase. Subsea adjusted EBITDA was $356.5 million, a 17.7% margin.

TechnipFMC’s backlog hit a record $13.9 billion. Cash flow from operations was $231 million, and free cash flow was $180 million. The company repurchased $100 million in shares. Guidance for 2024 was raised, with Subsea revenue expected between $7.6-$7.8 billion and adjusted EBITDA margin at 16.5%-17%.

TechnipFMC (NYSE: FTI) has secured a substantial contract from Petrobras for the supply of flexible pipe for pre-salt fields offshore Brazil. The contract, valued between $250 million and $500 million, covers the design, engineering, and manufacture of flexible pipe for water injection and gas lift. This award was included in TechnipFMC's inbound orders for the second quarter of 2024.

Jonathan Landes, President of Subsea at TechnipFMC, emphasized the company's pride in the trust built with Petrobras over decades and highlighted that their core technologies will support Petrobras's ambitions. TechnipFMC plans to leverage its global manufacturing capabilities to assist in the ongoing development of pre-salt reserves.

TechnipFMC plc (NYSE: FTI) has announced a quarterly cash dividend of $0.05 per share. The dividend will be payable on September 4, 2024 to shareholders of record as of the close of business on the New York Stock Exchange on August 20, 2024. The ex-dividend date is also set for August 20, 2024. This announcement demonstrates TechnipFMC's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite challenging market conditions in the energy sector.

TechnipFMC (NYSE: FTI) has secured a large integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Energean for the Katlan development in the Mediterranean Sea. This project marks Energean's first use of TechnipFMC's configure-to-order Subsea 2.0® production systems. The contract, valued between $500 million and $1 billion, covers the design, manufacture, and installation of production systems, pipe, umbilicals, and subsea structures.

The subsea infrastructure will connect to the Energean Power floating production, storage, and offloading vessel (FPSO), which currently serves the Karish and Karish North developments. TechnipFMC's integrated approach, combining iFEED® for optimized field layout with Subsea 2.0® platform and iEPCI™ execution model, is expected to accelerate time to first production at Katlan.

TechnipFMC (NYSE: FTI) will release its second quarter 2024 earnings on Thursday, July 25, 2024.

The earnings conference call is scheduled for 1:30 p.m. London time (8:30 a.m. New York time). The press release announcing the results will be issued earlier at approximately 11:45 a.m. London time (6:45 a.m. New York time).

The event will be webcast live and accessible via the company's Investor Relations website or a specified link. An archived version of the webcast will be available afterwards.

TechnipFMC (NYSE: FTI) announced that Chair and CEO Doug Pferdehirt will address attendees at the J.P. Morgan 2024 Energy, Power and Renewables Conference.

The event will take place on June 17-18, 2024, at the InterContinental New York Barclay. Pferdehirt's address is scheduled for June 18 at 1:45 p.m. EDT.

A live webcast of the event will be available on the company's Investor Relations website, and an audio replay will be accessible after the event. No presentation materials will be provided.

TechnipFMC (NYSE: FTI) has secured a significant iEPCI™ contract from Woodside Energy (LON: WDS) for the Xena Phase 3 development in Australia. The contract entails design, manufacturing, and installation of the subsea production system, flexible pipe, and umbilicals for the Xena Infill well (XNA03), supporting the Pluto LNG Project. This follows an iFEED™ study and will use TechnipFMC's Subsea 2.0® system. The project will integrate with existing infrastructure previously supplied by TechnipFMC. The contract value ranges between $75 million and $250 million and will be recorded in Q2 2024 orders.

TechnipFMC plc (NYSE: FTI) announced its first quarter 2024 results, highlighting subsea inbound orders of $2.4 billion, a book-to-bill ratio of 1.4, three iEPCI™ awards, and shareholder distributions of $172 million. The company achieved an investment grade credit rating from S&P Global Ratings. Total revenue was $2.042 billion, with net income of $157.1 million. Adjusted EBITDA was $252.6 million, and backlog stood at $13.492 billion. Subsea revenue increased to $1.734 billion, with operating profit of $156.6 million. Surface Technologies revenue was $307.2 million, with an operating profit of $103.4 million. The company repurchased $150.1 million of shares and ended the quarter with cash and cash equivalents of $696.8 million.