TechnipFMC (FTI) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 30, 2026 astatine 12:43 PM CDT 46 min read

Image source: The Motley Fool.

DATE

Thursday, April 30, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — Douglas Pferdehirt

• Executive Vice President and Chief Financial Officer — Alf Melin

Need a punctuation from a Motley Fool analyst? Email [email protected]

Full Conference Call Transcript

Douglas Pferdehirt: Thank you, Matt. Good greeting and bully afternoon. Thank you for participating successful our archetypal 4th net call. Our quarterly results bespeak beardown operational show passim the company, driven by coagulated execution. Total institution gross successful the play was $2.5 billion. Adjusted EBITDA was $453 cardinal with a borderline of 18.2% erstwhile excluding overseas exchange. Free currency travel was $277 cardinal with full shareholder distributions of $285 cardinal successful the quarter. This aboriginal momentum positions america good to execute our afloat twelvemonth fiscal targets. Turning to Subsea. Orders successful the 4th were $1.9 billion, driven by robust services and unannounced task activity.

Our inbound highlights the value of beardown and enduring lawsuit relationships arsenic we proceed to payment from a precocious level of nonstop awards to our company. Importantly, we spot a strengthening inclination successful bid enactment arsenic we determination done the year, supporting our assurance successful achieving $10 cardinal of Subsea orders successful 2026. Turning to the Middle East. Our thoughts are archetypal and foremost with the radical who person been affected. The well-being of our employees and their families is paramount. We took contiguous and broad measures to guarantee the information of our teams successful the region. We were capable to run safely with minimal disruption. As a reminder, lone 4% of our gross is derived from the Middle East.

This is astir wholly related to enactment we execute done onshore activities wrong our Surface Technologies segment. Our offshore operations successful Subsea person not been impacted. Even earlier the conflict, the queue of imaginable deepwater projects had been expanding implicit the past 5 years. The important impacts to some information and vigor proviso resulting from the struggle are apt to person lasting impacts connected the perceived hazard assigned to the region. We judge this builds further momentum successful the ongoing displacement successful superior flows toward offshore developments with the imaginable to accelerate opportunities successful markets with extended infrastructure, including the U.S.

Gulf and the North Sea, and regions with antecedently discovered and well-identified resources that tin adhd worldly volumes to a operator's reserve basal specified arsenic West Africa. Our Subsea opportunities database highlights respective of these opportunities. With our quarterly update, the database present identifies astir $30 cardinal of opportunities for imaginable grant implicit the adjacent 24 months, representing the seventh consecutive quarterly summation successful value. Over the past 2 years, this database has grown by much than 30% erstwhile utilizing the midpoint of task values. While each planetary regions person experienced maturation during this time, the astir important increases person travel from Africa, Asia Pacific and the North Sea.