$FTI · TechnipFMC plc
TechnipFMC filed its Q3 2026 10-Q, reporting net income attributable to the company of $418.4M ($1.05 diluted EPS) on revenue of $2.896B, up 9.4% YoY. The nine-month period shows net income of $1.04B on $8.15B revenue, with operating cash flow of $1.41B. The company repurchased $1.005B in shares during the first nine months, reducing the basic share count by approximately 18M shares.
- Q3 diluted EPS of $1.05 vs $0.75 in Q3 2025, a 40% increase
- Q3 revenue rose 9.4% YoY to $2.896B, driven by Subsea backlog conversion in Latin America, Africa, and Middle East
- Nine-month operating cash flow reached $1.41B, up from $1.31B in the prior-year period
- Share repurchases totaled $1.005B in the first nine months of 2026, reducing basic share count to 391.6M from 409.5M
- Net interest expense fell 62% to $13.2M for the nine-month period due to lower outstanding debt
Markets closed — no regular-session reaction yet; extended-hours move not captured here. FTI was down 6.23% in the regular session before the 10-Q filing, which may reflect broader energy-sector weakness rather than company-specific news given the strong results.
TechnipFMC is converting record backlog into sharply higher earnings while simultaneously retiring nearly 5% of shares outstanding, a powerful combination for per-share value creation.
TechnipFMC's Subsea-driven growth mirrors the broader oilfield services upcycle, with backlog conversion from record year-end 2025 levels fueling revenue. The aggressive buyback pace signals management confidence in sustained free cash flow generation.
The filing references risks from fixed-price contracts, reliance on subcontractors and joint venture partners, and potential cost overruns on capital asset construction projects for vessels and manufacturing facilities. Tariff and trade policy changes are also flagged as a risk factor.