Offshore contractor TechnipFMC reported strong third-quarter 2025 results, with total company revenue hitting $2.65 billion, up 12.7 per cent year-on-year. Net income attributable to the company reached $309.7 million, or $0.75 per diluted share. Adjusted EBITDA was $518.9 million, resulting in an adjusted EBITDA margin of 19.6 per cent.
The company generated significant cash flow, with $525 million from operations and $448 million in free cash flow.
Reflecting confidence in its outlook, TechnipFMC's board of directors authorised an additional $2 billion for share repurchases, bringing the total authorisation to $2.3 billion. In Q3, the company returned $271 million to shareholders through dividends and share buybacks.
The subsea segment achieved quarterly orders of $2.4 billion, driven by strength in South America, including the seventh award from ExxonMobil in Guyana for the Hammerhead project.
Subsea revenue increased 14.4 per cent year-on-year to $2.32 billion, with adjusted EBITDA margin expanding 350 basis points to 21.8 per cent.
Company Chair and CEO Doug Pferdehirt expressed confidence in delivering over $10 billion in subsea orders for 2025 and securing another $10 billion in 2026, citing the sustainability of offshore project investment driven by improved economics and project certainty.
The surface technologies segment reported a revenue increase of 2.4 per cent year-on-year to $328.1 million, with adjusted EBITDA margin improving 110 basis points to 16.4 per cent, driven by higher international activity.
Based on the strong performance, TechnipFMC updated its full-year 2025 financial guidance. The company increased its surface technologies adjusted EBITDA margin guidance to 16 to 16.5 per cent and significantly raised its free cash flow guidance to $1.3 to $1.45 billion.
TechnipFMC also initiated its full-year 2026 subsea financial guidance, projecting revenue between $9.1 to $9.5 billion and an adjusted EBITDA margin between 20.5 to 22 per cent.
