TechnipFMC plc
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 29, 2026
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Consolidated Results of Operations
CONSOLIDATED RESULTS OF OPERATIONS OF TECHNIPFMC PLC
THREE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
| Three Months Ended | ||||
|---|---|---|---|---|
| September 30, · Change | ||||
| (In millions, except %) | 2026 | 2025 | $ | % |
| Revenue | $2,895.8 | $2,647.3 | $248.5 | 9.4 |
| Costs and expenses | ||||
| Cost of sales | 2,167.1 | 2,043.5 | 123.6 | 6.0 |
| Selling, general and administrative expense | 182.7 | 173.2 | 9.5 | 5.5 |
| Research and development expense | 30.1 | 22.5 | 7.6 | 33.8 |
| Restructuring, impairment and other expenses | 0.5 | 3.1 | (2.6) | (83.9) |
| Total costs and expenses | 2,380.4 | 2,242.3 | 138.1 | 6.2 |
| Other income (expense), net | 3.2 | (17.2) | 20.4 | 118.6 |
| Income from equity affiliates | 8.0 | 9.8 | (1.8) | (18.4) |
| Net interest expense | (3.6) | (10.6) | 7.0 | 66.0 |
| Income before income taxes | 523.0 | 387.0 | 136.0 | 35.1 |
| Provision for income taxes | 104.3 | 76.1 | 28.2 | 37.1 |
| Net income | 418.7 | 310.9 | 107.8 | 34.7 |
| Net (income) attributable to non-controlling interests | (0.3) | (1.2) | 0.9 | 75.0 |
| Net Income attributable to TechnipFMC plc | $418.4 | $309.7 | $108.7 | 35.1 |
Revenue
Revenue increased by $248.5 million during the three months ended September 30, 2026, compared to the same period in 2025. The increase was primarily attributable to $280.8 million higher Subsea revenue. This growth was driven by the conversion of backlog, with backlog being 17.4% higher at December 31, 2025, when compared to December 31, 2024, resulting in increased revenue activity across iEPCI®, SPS supply and Services activities, particularly in Latin America, Asia Pacific, and the Middle East. This increase was partially offset by lower activity in North America and Africa.
Gross Profit
Gross profit (revenue less cost of sales) increased to $728.7 million during the three months ended September 30, 2026, compared to $603.8 million in the prior-year period. The increase was primarily attributable to an increase in Subsea gross profit of $132.4 million, of which $66.3 million was due to favorable activity mix and $66.1 million was due to volume increase.
Selling, General and Administrative Expense
Selling, general and administrative expense increased by $9.5 million for the three months ended September 30, 2026, compared to the same period in 2025, primarily driven by higher share-based compensation expenses.
Restructuring, impairment and other expenses
Restructuring, impairment and other expenses decreased by $2.6 million compared to the prior-year period. This decrease was primarily due to impairments of tangible assets and restructuring during the three months ended September 30, 2025.
Other Income (Expense), Net
Other income (expense), net decreased $20.4 million year-over-year, primarily due to lower non-operating charges and foreign currency losses. Other expense, net primarily includes foreign currency remeasurement gains and losses on net monetary assets and liabilities, gains and losses on sales of property, plant and equipment, and other non-operating items.
Net Interest Expense
Net interest expense of $3.6 million decreased by $7.0 million in the three months ended September 30, 2026, compared to the same period in 2025, primarily due to the net decrease in outstanding debt year-over-year.
Provision for Income Taxes
The provision for income taxes for the three months ended September 30, 2026 and 2025 was $104.3 million and $76.1 million, respectively, resulting in effective tax rates of 19.9% and 19.7%, respectively. The change in effective tax rate is primarily due to the geographic distribution of earnings.
CONSOLIDATED RESULTS OF OPERATIONS OF TECHNIPFMC PLC
NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
| Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, · Change | ||||
| (In millions, except %) | 2026 | 2025 | $ | % |
| Revenue | $8,151.6 | $7,415.6 | $736.0 | 9.9 |
| Costs and expenses | ||||
| Cost of sales | 6,152.9 | 5,753.6 | 399.3 | 6.9 |
| Selling, general and administrative expense | 567.9 | 530.6 | 37.3 | 7.0 |
| Research and development expense | 73.6 | 55.7 | 17.9 | 32.1 |
| Restructuring, impairment and other expenses | 6.1 | 20.7 | (14.6) | (70.5) |
| Total costs and expenses | 6,800.5 | 6,360.6 | 439.9 | 6.9 |
| Other expense, net | (9.2) | (57.5) | 48.3 | 84.0 |
| Income from equity affiliates | 26.3 | 29.5 | (3.2) | (10.8) |
| Net interest expense | (13.2) | (34.9) | 21.7 | 62.2 |
| Income before income taxes | 1,355.0 | 992.1 | 362.9 | 36.6 |
| Provision for income taxes | 314.3 | 269.6 | 44.7 | 16.6 |
| Net income | 1,040.7 | 722.5 | 318.2 | 44.0 |
| Net (income) loss attributable to non-controlling interests | 0.9 | (1.3) | 2.2 | N/M |
| Net income attributable to TechnipFMC plc | $1,041.6 | $721.2 | $320.4 | 44.4 |
Revenue
Revenue increased by $736.0 million during the nine months ended September 30, 2026, compared to the prior-year period. The increase was primarily attributable $823.6 million higher Subsea revenue. This growth was driven by the conversion of backlog, with backlog being 17.4% higher at December 31, 2025, when compared to December 31, 2024, resulting in increased revenue activity across iEPCI®, SPS supply and Services activities, particularly in Latin America, Africa, and the Middle East. This increase was partially offset by lower activity in North America.
Gross Profit
Gross profit (revenue less cost of sales) increased to $1,998.7 million during the nine months ended September 30, 2026, compared to $1,662.0 million in the prior-year period. The increase was primarily attributable to an increase in Subsea gross profit of $355.1 million, of which $184.0 million was due to volume increase and $171.1 million was due to favorable activity mix.
Selling, General and Administrative Expense
Selling, general and administrative expense increased by $37.3 million for the nine months ended September 30, 2026, compared to the same period in 2025, primarily driven by higher share-based compensation expenses of $56.2 million, partially offset by lower personnel and other administrative costs.
Restructuring, impairment and other expenses
Restructuring, impairment and other expenses decreased by $14.6 million year-over-year, primarily due to $17.1 million of business transformation initiatives within Surface Technologies incurred in the prior-year period.
Other Expense, Net
Other expense, net decreased $48.3 million year-over-year, primarily due to lower other non-operating charges of $42.7 million and $8.3 million increase in gains on disposal of fixed assets.
Net Interest Expense
Net interest expense of $13.2 million decreased by $21.7 million in the nine months ended September 30, 2026, compared to the same period in 2025, primarily due to the reduction in outstanding debt year-over-year.
Provision for Income Taxes
The provision for income taxes for the nine months ended September 30, 2026 and 2025 was $314.3 million and $269.6 million, respectively, resulting in effective tax rates of 23.2% and 27.2%, respectively. The decrease in effective tax rate is primarily due to the geographic distribution of earnings.
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