TechnipFMC Q3 2023 Earnings Report
Key Takeaways
TechnipFMC announced strong Q3 2023 results, with Subsea inbound orders of $1.8 billion and a total backlog of $12.1 billion. The company's operating results for both segments are now expected to be above the midpoint of full-year guidance. Total Company revenue was $2,056.9 million, with adjusted income from continuing operations at $93.7 million, or $0.21 per diluted share. Free cash flow was $178 million.
Subsea inbound orders were strong at $1.8 billion in the quarter.
Adjusted EBITDA improved sequentially for both Subsea and Surface Technologies, exceeding previous guidance.
Subsea orders are expected to exceed $9 billion for the full year.
The company believes orders over the next five quarters will approach $11 billion.
TechnipFMC
TechnipFMC
TechnipFMC Revenue by Segment
Forward Guidance
TechnipFMC's full-year guidance for 2023 was originally issued on February 23, 2023, and remains unchanged.
Revenue & Expenses
Visualization of income flow from segment revenue to net income