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Dec 31, 2020
TechnipFMC Q4 2020 Earnings Report
TechnipFMC reported mixed results for Q4 2020, with revenue declining but adjusted EPS increasing, while also completing the separation of Technip Energies.
Key Takeaways
TechnipFMC's Q4 2020 results showed a decrease in revenue compared to the previous year, but an increase in adjusted earnings per share. The company successfully completed the spin-off of Technip Energies and achieved cost savings ahead of schedule. The company anticipates Brazil will be the most active region of the world for new project orders.
U.S. GAAP diluted loss per share was $0.09.
Adjusted diluted earnings per share, excluding charges and credits, was $0.05.
Total Company inbound orders of $10.1 billion; Subsea orders of $4 billion
Resilient backlog of $21.4 billion; Subsea backlog of $6.9 billion
Revenue by Segment
Forward Guidance
TechnipFMC provided full-year financial guidance for 2021, excluding the impact of Technip Energies.
Positive Outlook
- Subsea revenue in a range of $5.0 - 5.4 billion
- Subsea EBITDA margin in a range of 10 - 11%
- Surface Technologies revenue in a range of $1,050 - 1,250 million
- Surface Technologies EBITDA margin in a range of 8 - 11%
- Free cash flow $50 - 150 million
Challenges Ahead
- Corporate expense, net $105 -115 million
- Net interest expense $130 - 135 million
- Tax provision, as reported $110 - 120 million
- Capital expenditures approximately $250 million
- All segment guidance assumes no further material degradation from COVID-19-related impacts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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