Offshore contractor TechnipFMC recorded revenue of $2.49 billion for the first quarter ending March 31. This performance marked an 11.6 per cent increase compared to the same period in 2025.
Net income attributable to the company reached $0.26 billion, which translates to $0.64 per diluted share. Included in these figures was a foreign exchange gain of $12.8 million.
Subsea revenue grew to $2.21 billion, representing a 14.1 per cent improvement over the first quarter of the previous year. High levels of project activity in Brazil and Latin America supported this growth.
Total inbound orders for the quarter were $2.15 billion, with the subsea segment accounting for $1.9 billion. TechnipFMC stated it is expected to achieve $10 billion in subsea orders for the full year.
Revenue from surface technologies fell by 11.9 per cent compared to the fourth quarter of 2025, reaching $0.28 billion. This decline was primarily attributed to the timing of projects in the Middle East.
Free cash flow stood at $0.28 billion during the three-month period. Shareholder distributions totalled $0.28 billion, comprising both dividends and share buybacks.
The company reported a subsea backlog of $15.8 billion. It identified approximately $30 billion in potential award opportunities likely to occur over the next 24 months.
Capital expenditures for the first quarter were $55.6 million. TechnipFMC confirmed that its full-year guidance for 2026 remains unchanged from the projections issued on February 19.
