- Total Company inbound orders of $2.8 billion; Subsea of $2.6 billion, a book-to-bill of 1.2x
- Total Company backlog increased to $16.6 billion; Subsea of $15.8 billion
- Cash flow from operations of $344 million; free cash flow of $261 million
- Total shareholder distributions of $271 million, including share repurchase of $250 million
TechnipFMC has reported second-quarter 2025 results.
Total Company revenue in the second quarter was $2,534.7 million. Net income attributable to TechnipFMC was $269.5 million, or $0.64 per diluted share. These results included after-tax charges and credits totaling $16 million of expense, or $0.04 per share.
Adjusted net income was $285.5 million, or $0.68 per diluted share.
Adjusted EBITDA, which excludes pre-tax charges and credits, was $520.8 million; adjusted EBITDA margin was 20.5 percent.
Included in total Company results was a foreign exchange gain of $12.1 million, or a loss of $6.3 million after-tax. When excluding the after-tax impact of the foreign exchange loss of $6.3 million, net income was $275.8 million. Adjusted EBITDA, excluding foreign exchange, was $508.7 million.
Doug Pferdehirt, Chair and CEO of TechnipFMC, remarked, 'I am very proud of what our team accomplished in what was another solid quarter, driven by continued strength in execution from both the commercial and operational teams. Total Company revenue in the period was $2.5 billion, with adjusted EBITDA of $509 million when excluding foreign exchange impacts. We generated free cash flow of $261 million and distributed $271 million through dividends and share buybacks, further demonstrating our commitment to return a significant portion of free cash flow to shareholders.'
Pferdehirt continued, 'We achieved $2.6 billion of Subsea inbound in the quarter, representing a diverse set of awards. We continue to benefit from a combination of iEPCI™, Subsea Services, and direct awards. Subsea Services inbound was particularly robust, representing one of the highest quarterly levels ever achieved. The uniqueness and diversity of our order book give us continued confidence that we will reach our three-year goal of $30 billion of Subsea inbound by the end of this year.'
'Our differentiated orders speak to the strength of our customer relationships, which we work to build and enhance every day. I am proud to announce that we recently entered into a new iEPCI™ collaboration agreement with Vår Energi, supporting their subsea developments on the Norwegian Continental Shelf. Working together, we will utilize our integrated execution model to optimize development and maximize value creation.'
Pferdehirt added, 'Offshore activity remains robust. Front-end engineering activity is strong, and our Subsea Opportunities List remains healthy, with named projects progressing across multiple basins over the next 24 months. Our visibility into the market also benefits from the high level of direct awards to our company. We continue to see strength in offshore markets, supported by client discussions for projects that are likely to be sanctioned through the end of the decade.'
Pferdehirt concluded, 'While the market is not without challenges, our results clearly demonstrate that we are navigating the issues and mitigating the impacts to our company. This reflects the actions we are taking today and the structural changes we have made over the last several years, which together are driving continuous improvement in everything we do.'
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Source: TechnipFMC
