TechnipFMC Q4 2021 Earnings Report
Key Takeaways
TechnipFMC's Q4 2021 saw a revenue of $1,523.3 million, a loss of $127.2 million, and an adjusted loss of $55.8 million. However, the company experienced strong inbound orders totaling $2,106.7 million and generated $423 million in free cash flow. The company is optimistic about a multi-year upcycle for energy demand.
Subsea orders reached $1 billion in the quarter and $5 billion for the full year.
Surface Technologies orders were $1.1 billion in the quarter and $1.8 billion for the full year.
Cash flow from operations was $483.5 million in the quarter, with free cash flow of $423 million.
Cash and cash equivalents increased to $1.3 billion, and net debt was reduced to $677.5 million.
TechnipFMC
TechnipFMC
TechnipFMC Revenue by Segment
Forward Guidance
TechnipFMC provided full-year 2022 financial guidance, anticipating revenue between $5.2 - 5.6 billion for Subsea and $1.15 - 1.3 billion for Surface Technologies. The company expects Subsea EBITDA margin in the range of 11-12% and Surface Technologies EBITDA margin in the range of 11-13%.
Positive Outlook
- Subsea Revenue in a range of $5.2 - 5.6 billion
- Subsea EBITDA margin in a range of 11 - 12%
- Surface Technologies Revenue in a range of $1,150 - 1,300 million
- Surface Technologies EBITDA margin in a range of 11 - 13%
- Free cash flow $100 - 250 million
Challenges Ahead
- Corporate expense, net $100 - 110 million
- Net interest expense $105 - 115 million
- Tax provision, as reported $100 - 110 million
- Capital expenditures approximately $230 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income