July 31 (oilnow.gy) TechnipFMC reported “strong” second-quarter 2026 results on July 30, driven by US$2.5 billion in subsea orders and higher project activity across its offshore business.
The company recorded total revenue of US$2.76 billion during the quarter. Net income attributable to TechnipFMC reached US$362.7 million, while adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization totaled US$581.9 million. Cash flow from operations was US$548 million and free cash flow reached US$488 million.
The subsea business accounted for the bulk of the company’s activity. Revenue for the segment increased 12.6% from the previous quarter to US$2.49 billion as project execution accelerated, particularly on integrated engineering, procurement, construction and installation (iEPCI®) developments in the North Sea and Mediterranean.
Subsea orders included contracts for Azule Energy’s Greater PAJ development offshore Angola, Vår Energi’s Ofelia and Gjøa Nord projects in the North Sea, Eni’s Baleine Phase 3 development offshore Côte d’Ivoire, and a portfolio of subsea tieback projects for Equinor in Norway.
TechnipFMC generated US$548 million in cash flow from operations and US$488 million in free cash flow during the quarter. It returned US$440 million to shareholders through dividends and share repurchases.
Chairman and Chief Executive Officer Doug Pferdehirt said operators are increasingly grouping offshore developments to improve project economics.
“We will continue to benefit from a resilient and expanding offshore market. We remain confident in achieving $10 billion of Subsea inbound in 2026, followed by a step-up in orders in 2027, which we believe will extend through the end of the decade,” Pferdehirt stated.
He further explained that “as clients move toward more collaborative approaches to develop their offshore portfolios, TechnipFMC will leverage the iEPCI® execution model and configurable solutions to drive further efficiencies and higher capital returns for both our customers and company.”
Outside its subsea business, TechnipFMC’s Surface Technologies segment reported revenue of US$276.2 million, down 2.8% from the previous quarter as activity slowed in the Middle East amid ongoing conflict and declined in North America. Higher activity in other international markets partly offset those reductions.
TechnipFMC is a global energy technology company providing engineering, products and services to the oil and gas industry, with a focus on subsea and surface technologies.
In Guyana, TechnipFMC has become one of ExxonMobil’s longest-standing subsea contractors, supplying subsea trees, manifolds, controls and related equipment for Stabroek Block projects, including Liza 1 and 2, Payara, Yellowtail, Uaru, Whiptail and Hammerhead.
Brazil Energy Insight 
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