TechnipFMC Q2 2021 Earnings Report
Key Takeaways
TechnipFMC announced second quarter results with total company revenue improving sequentially to $1.7 billion. Subsea and Surface Technologies segments reported an adjusted EBITDA margin of 11 percent. Total Company inbound orders of $1.6 billion; Subsea inbound orders of $1.3 billion. Full-year guidance updated, supported by strength of first half results and market outlook
Total Company revenue improved sequentially to $1.7 billion.
Subsea and Surface Technologies segments reported an adjusted EBITDA margin of 11 percent.
Total Company inbound orders of $1.6 billion; Subsea inbound orders of $1.3 billion
Full-year guidance updated, supported by strength of first half results and market outlook
TechnipFMC
TechnipFMC
TechnipFMC Revenue by Segment
Forward Guidance
TechnipFMC has increased its full-year expectations for both operating segments given strong year-to-date results and continued improvement in the broader market outlook.
Positive Outlook
- Subsea revenue in a range of $5.2 - 5.5 billion
- Surface Technologies EBITDA margin in a range of 10 - 12% (excluding charges and credits)
- Net interest expense in a range of $135 - 140 million
- Tax provision, as reported, in a range of $85 - 95 million
- Capital expenditures approximately $250 million
Challenges Ahead
- All segment guidance assumes no further material degradation from COVID-19-related impacts.
- Guidance is based on continuing operations and thus excludes the impact of Technip Energies, which is reported as discontinued operations.
- Corporate expense, net $105 - 115 million
- Net interest expense* $135 - 140 million
- Tax provision, as reported* $85 - 95 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income