TechnipFMC plc
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.27%.
Did FTI Beat Earnings? Q2 2025 Results
TechnipFMC posted a convincing beat in the second quarter of 2025, with adjusted diluted EPS of $0.68 coming in 17.95% above the $0.5765 consensus estimate as the oilfield services company rode a powerful wave of deepwater project momentum. Revenue climbed 9.0% year-over-year to $2.53 billion, edging past the $2.49 billion Wall Street expected, while net income nearly doubled sequentially to $269.50 million. The Subsea segment was the undisputed engine behind the outperformance — revenue there hit $2.22 billion, up 14.5% sequentially, fueled by accelerating iEPCI project activity in the North Sea, robust installation work in Brazil, and a favorable earnings mix from backlog that pushed Subsea operating margin to 17.2%. Inbound orders of $2.83 billion produced a 1.2x book-to-bill, lifting total backlog to $16.65 billion. The company's shares surged to a decade high after management signaled confidence in generating $10 billion or more in Subsea orders for the full year, while keeping 2025 free cash flow guidance steady at $1.00–$1.15 billion.
- Increased iEPCI project activity in the North Sea
- Higher installation activity and flexible pipe supply in Brazil
- Seasonal improvements in Subsea Services revenue
- Strong execution and improved earnings mix from backlog
- Higher project and services activity in the Middle East for Surface Technologies
“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.”
TechnipFMC CEO, on the earnings call
Forward Guidance & Outlook
TechnipFMC maintained its full-year 2025 guidance unchanged from April 24, 2025: Subsea revenue of $8.4–$8.8 billion with adjusted EBITDA margin of 19–20%; Surface Technologies revenue of $1.2–$1.35 billion with adjusted EBITDA margin of 15–16%; corporate expense of $115–$125 million; net interest expense of $45–$55 million; effective tax rate of 28–32%; capital expenditures of approximately $340 million; and free cash flow of $1.0–$1.15 billion. Management expressed confidence in reaching the three-year goal of $30 billion of Subsea inbound orders by year-end 2025, supported by strong front-end engineering activity, a healthy Subsea Opportunities List, and robust offshore markets with client discussions for project sanctions through the end of the decade.
FTI YoY Financials
FTI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.