Financial Data and Key Metrics Changes - Total company inbound for the year was $11.2 billion, with a backlog ending at $16.6 billion, and total company revenue grew 9% to $9.9 billion [5] - Adjusted EBITDA improved to $1.8 billion, an increase of 33% compared to the prior year, with full-year free cash flow increasing to $1.4 billion and shareholder distributions growing to $1 billion, both more than double the levels achieved in the prior year [5][23] Business Line Data and Key Metrics Changes - In Subsea, revenue for the quarter was $2.2 billion, a decrease of 5% versus the third quarter, with full-year revenue growing 11% compared to the prior period [16] - Surface Technologies reported revenue of $323 million, a decrease of 2% from the third quarter, but adjusted EBITDA increased by 8% sequentially due to higher services activity [17] Market Data and Key Metrics Changes - The Subsea opportunity list reflects approximately $29 billion of opportunities for future development, marking the highest level ever recorded [11] - The company expects a greater share of capital spending to move offshore, with operators increasingly adopting a portfolio approach to offshore development [10][11] Company Strategy and Development Direction - The company is focused on expanding its Configure-to-order applications and improving project execution efficiency, which is expected to drive margin expansion [28][14] - The management emphasized the importance of reducing cycle time and enhancing project returns, which is seen as a key differentiator in the market [15][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strength in offshore activity through the end of the decade, driven by a shift in customer behavior towards simultaneous development of multiple projects [10][11] - The company anticipates further growth in Subsea inbound orders, expecting $10 billion in 2026, with an adjusted EBITDA margin of 21.5% [19][23] Other Important Information - The company reported a net cash position of $602 million and ended the year with cash and cash equivalents of $1 billion [18] - The company is committed to returning at least 70% of free cash flow to shareholders in 2026 through dividends and share repurchases [22] Q&A Session Summary Question: Margin expansion potential from industrializing the SURF process - Management discussed the focus on expanding Configure-to-order applications and improving project certainty, indicating substantial opportunities in the water column [28] Question: Visibility on further margin expansion in Subsea - Management confirmed that the company is inbounding at a level that is accretive to backlog margin, indicating a strong quality backlog [30] Question: Renewed interest in Greenfield developments - Management noted that there is substantial greenfield development potential, with many projects that had been previously stalled now moving forward [36] Question: Expectations for subsea services growth - Management indicated that subsea services are expected to grow in line with top-line growth, estimating around $2 billion for the year [56] Question: Discussions with customers in a choppy macro environment - Management highlighted that offshore projects are seen as more stable investments, with customers regaining confidence in project execution [64]

TechnipFMC (NYSE:FTI) Q4 2025 Earnings call February 19, 2026 08:30 AM ET Company ParticipantsAlf Melin - CFODerek Podhaizer - Director and Equity ResearchDoug Pferdehirt - Chair and CEOEddie Kim - VP and Equity ResearchMarc Bianchi - Managing DirectorMarc Bianchi - Managing DirectorMatt Seinsheimer - Senior Vice President of Investor Relations and Corporate DevelopmentSaurabh Pant - Director and Equity ResearchScott Gruber - Director of Oilfield Services and Equipment ResearchVictoria McCulloch - DirectorC ...

Financial Data and Key Metrics Changes - Total company inbound for the year was $11.2 billion, with a backlog ending at $16.6 billion [4] - Total company revenue for the year grew 9% to $9.9 billion, with Adjusted EBITDA improving to $1.8 billion, an increase of 33% compared to the prior year [4] - Full-year free cash flow increased to $1.4 billion, and shareholder distributions grew to $1 billion, both more than double the levels achieved in the prior year [4][21] Business Line Data and Key Metrics Changes - In Subsea, orders in the quarter were $2.3 billion, resulting in $10.1 billion of inbound for the full year, with iEPCI projects being the largest contributor [5] - Subsea revenue for the quarter was $2.2 billion, a decrease of 5% versus the third quarter, while full-year Subsea revenue grew 11% [15] - Surface Technologies revenue was $323 million, a decrease of 2% from the third quarter, with an adjusted EBITDA margin improving to 18% [16] Market Data and Key Metrics Changes - The Subsea opportunity list reflects approximately $29 billion of opportunities for future development, marking the highest level ever recorded [10] - The company expects a greater share of capital spending to move offshore, with operators increasingly adopting a portfolio approach to offshore development [9][10] Company Strategy and Development Direction - The company is focused on expanding its Configure-to-order applications and improving project certainty through industrialization and simplification [12][27] - The management emphasizes the importance of reducing cycle time and enhancing project returns, which is seen as a key differentiator in the market [13][63] - The company aims to maintain a disciplined, asset-light approach to capital management, with expectations of returning at least 70% of free cash flow to shareholders in 2026 [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strength in offshore activity through the end of the decade, driven by a shift in customer behavior towards a portfolio approach [10][11] - The management noted that the industry is seeing renewed interest in greenfield developments, with exploration budgets increasing and new basins being identified [36] - The company anticipates further growth in backlog and revenue, with a guidance of $9.4 billion in Subsea revenue for 2026 and an Adjusted EBITDA margin of 21.5% [18][21] Other Important Information - The company repurchased $168 million of stock in the fourth quarter, with total shareholder distributions exceeding $1 billion for the full year [17] - Cash and cash equivalents ended the year at $1 billion, with a net cash position increasing to $602 million [17] Q&A Session Summary Question: Margin expansion potential from industrializing the SURF process - Management highlighted the focus on expanding Configure-to-order applications and improving project certainty, indicating substantial opportunities in the SURF process [25][27] Question: Visibility on further margin expansion in Subsea - Management confirmed that the company is inbounding at a level that is accretive to backlog margin, with a focus on reducing cycle time and improving project returns [28][30] Question: Renewed interest in Greenfield developments - Management noted that there are substantial greenfield developments where exploration has already been done, and increased exploration budgets are being observed [35][36] Question: Expectations for subsea services growth - Management indicated that subsea services revenue is expected to align with overall revenue growth, estimating around $2 billion for the year [53][54] Question: Customer behavior in a choppy macro environment - Management stated that customers are regaining confidence in offshore investments, focusing on prolific reserves and improved project returns [62][63] Question: Portfolio approach and its impact on revenue - Management acknowledged that while the portfolio approach is still a smaller portion of discussions, it is gaining traction among customers [88][90]

Core Viewpoint - FMC Technologies reported quarterly earnings of $0.7 per share, exceeding the Zacks Consensus Estimate of $0.51 per share, and showing an increase from $0.54 per share a year ago [1] Earnings Performance - The earnings surprise for the quarter was +36.77%, with a previous quarter surprise of +15.38% when actual earnings were $0.75 compared to an expected $0.65 [2] - Over the last four quarters, FMC Technologies has surpassed consensus EPS estimates three times [2] Revenue Performance - The company reported revenues of $2.52 billion for the quarter, which was 1.17% below the Zacks Consensus Estimate, but an increase from $2.37 billion year-over-year [3] - FMC Technologies has topped consensus revenue estimates two times over the last four quarters [3] Stock Performance - Shares of FMC Technologies have increased approximately 39.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 0.5% [4] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates of $0.53 for the coming quarter and $2.74 for the current fiscal year, with revenues expected to be $2.52 billion and $10.64 billion respectively [5][8] - The Zacks Rank for FMC Technologies is currently 2 (Buy), indicating expectations for the stock to outperform the market in the near future [7] Industry Context - The Oil and Gas - Field Services industry, to which FMC Technologies belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]

Operational highlights and financial results Q4 2025 Earnings Presentation February 19, 2026 © 2025 TechnipFMC. All rights reserved. The information contained in this document is company confidential and proprietary property of TechnipFMC and its affiliates. It is to be used only for the benefit of TechnipFMC and may not be distributed, transmitted, reproduced, altered, or used for any purpose without the express written consent of TechnipFMC. Disclaimer Forward-looking statements This communication contain ...

Press Release Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules. | | | Three Months Ended | | Change | | | --- | --- | --- | --- | --- | --- | | (In millions, except per share amounts) | Dec. 31, 2025 | Sep. 30, 2025 | Dec. 31, 2024 | Sequential | Year-over-Year | | Revenue | $2,517.0 | $2,647.3 | $2,367.3 | (4.9%) | 6.3% | | Net income | $242.7 | $309.7 | $224.7 | (21.6%) | 8.0% | | Net income margin | 9.6% | 11.7% | 9.5% | (210 bps) | 10 bps | | Diluted earning ...

Core Viewpoint - TechnipFMC plc reported its fourth-quarter 2025 financial results, showing a sequential decline in revenue but a year-over-year increase, indicating mixed performance in the company's operations [1]. Financial Performance - Revenue for the fourth quarter of 2025 was $2,517.0 million, a decrease of 4.9% from $2,647.3 million in the third quarter of 2025, but an increase of 6.3% compared to $2,367.3 million in the fourth quarter of 2024 [1].

Core Insights - The energy sector is experiencing contrasting trends in oil and natural gas prices, leading to an intriguing earnings season for energy companies [1] Oil and Natural Gas Pricing Trends - In Q4 2024, average monthly WTI crude prices were $71.99, $69.95, and $70.12 per barrel, while in Q4 2025, they dropped to $60.89, $60.06, and $57.97, indicating a significant year-over-year decline due to global oversupply and OPEC+ production cuts [2] - Conversely, U.S. Henry Hub average natural gas prices rose from $2.20 in October to $3.01 in December 2024, and further increased to $3.19, $3.79, and $4.26 in Q4 2025, showing a positive year-over-year trend [3] Energy Sector Earnings Performance - Approximately 45.8% of S&P 500 oil and energy companies reported Q4 results, with earnings growth of 27.1% year over year despite a 1.3% decline in revenues, indicating strong performance quality as 81.8% exceeded EPS and revenue expectations [4] - The blended outlook for Q4 2025 suggests earnings growth of 13.7% year over year, a significant increase from 3.2% in Q3, although revenues are projected to decline slightly by 0.4%, indicating profit gains driven by margin expansion and cost discipline [5] Company-Specific Insights - TechnipFMC plc (FTI) has an Earnings ESP of +1.61% and a Zacks Rank 2, indicating a high likelihood of an earnings beat, with a consensus estimate of 51 cents per share, reflecting a 5.6% decrease from the prior year [9][11] - Transocean Ltd. (RIG) has an Earnings ESP of +5.88% and a Zacks Rank 3, with a consensus estimate of 9 cents per share, indicating a 200% increase from the prior year [12] - Targa Resources Corp. (TRGP) has an Earnings ESP of +0.18% and a Zacks Rank 3, with a consensus estimate of $2.37 per share, reflecting a 64.6% increase from the prior year [14]

Core Viewpoint - Analysts expect FMC Technologies (FTI) to report quarterly earnings of $0.51 per share, reflecting a year-over-year decline of 5.6%, while revenues are projected to be $2.55 billion, an increase of 7.6% from the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised 0.4% higher in the last 30 days, indicating a collective reevaluation by analysts [1][2] Revenue Projections - Revenue from Subsea Technologies is expected to reach $2.23 billion, marking an 8.7% increase year-over-year [4] - Revenue from Surface Technologies is projected at $322 million, reflecting a 0.8% increase from the prior year [4] - Revenue from Lease is estimated at $71.31 million, indicating a significant increase of 24% year-over-year [4] - Revenue from Product is anticipated to be $922.80 million, showing an 8.3% increase from the previous year [5] Geographic Revenue Estimates - Revenue from Surface Technologies in Europe and Central Asia is expected to be $33.62 million, a 13.2% increase year-over-year [5] - Revenue from Surface Technologies in Africa is projected at $15.95 million, reflecting a 24.6% increase [6] - Revenue from Surface Technologies in North America is estimated at $105.63 million, indicating a decline of 1.6% from the prior year [6] - Revenue from Surface Technologies in the Middle East is expected to be $118.75 million, reflecting a decrease of 5% year-over-year [7] Order Backlog and Inbound Orders - The Order Backlog for Subsea Technologies is estimated at $16.31 billion, up from $13.52 billion year-over-year [8] - The total Order Backlog is projected to reach $17.06 billion, compared to $14.38 billion a year ago [8] - The Order Backlog for Surface Technologies is expected to be $728.81 million, down from $858.20 million year-over-year [8] - Inbound Orders for Subsea Technologies are forecasted to be $2.45 billion, down from $2.70 billion in the same quarter last year [7] Stock Performance - FMC Technologies shares have shown a return of +17.4% over the past month, outperforming the Zacks S&P 500 composite, which declined by -1.3% [10]

Core Insights - FTI Consulting has appointed Scott Davidson as a Senior Managing Director in the Aviation Business Transformation practice, enhancing its capabilities in the aviation sector [1][4] Group 1: Appointment and Expertise - Scott Davidson brings nearly two decades of experience in advising airlines, aviation service providers, and manufacturers on strategic and operational challenges [2] - His expertise includes airline technical operations, ground operations, crew management, fleet planning, network planning, procurement support, product development, and revenue management [2] Group 2: Role and Responsibilities - In his new role, Davidson will assist clients in implementing sustainable business plans through profit transformations, restructuring, and capital investment [3] - He will focus on enhancing operational resilience, financial performance, and customer experience by leveraging emerging technologies [3] Group 3: Company Overview - FTI Consulting is a leading global expert firm specializing in crisis and transformation, with over 8,100 employees in 32 countries as of September 30, 2025 [5] - The company generated $3.70 billion in revenues during fiscal year 2024 [5]