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Jun 30, 2023
TechnipFMC Q2 2023 Earnings Report
TechnipFMC reported strong operational performance and delivery on financial commitments.
Key Takeaways
TechnipFMC announced strong Q2 2023 results, with revenue of $1,972.2 million and adjusted EBITDA of $254 million excluding foreign exchange. Subsea orders were exceptionally strong at $4.1 billion, driving sequential growth of 29% in segment backlog. The company initiated a quarterly dividend and increased share repurchase authorization to $800 million, demonstrating commitment to shareholder value.
Subsea orders reached $4.1 billion, with record inbound for both iEPCI™ and Subsea 2.0™.
The outlook for Subsea orders was revised higher, with full-year expectations reaching $9 billion.
Total Company backlog increased 25% sequentially to $13.3 billion.
Cash flow from operations was $156 million, with free cash flow of $103 million.
TechnipFMC
TechnipFMC
TechnipFMC Revenue by Segment
Revenue by Segment
Subsea Revenue
CapyFin.comSurface Technologies Revenue
CapyFin.com Forward Guidance
The Company’s full-year guidance for 2023 can be found in the table below. No updates were made to the previous guidance that was issued on February 23, 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income