NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) (“the Company”) has been awarded a major(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by TotalEnergies for its GranMorgu project on Block 58, the first oil and gas development offshore Suriname. This iEPCI™ award supports the development of an emerging frontier and is enabled by the Company’s vessel ecosystem. The project will combine TechnipFMC’s leading subsea architecture with Saipem’s (MILAN:SPM) EPCI solutions and best-in-class pipelay capabilities—notably J-Lay, the optimal solutio...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) announced today that Doug Pferdehirt, Chair and Chief Executive Officer, will speak at the BofA Securities Global Energy Conference on Wednesday, November 13, 2024, at 8:50 a.m. CT in Houston, TX. The live webcast will be available at the time of the event and can be accessed at the . There will be no presentation materials associated with the event. An audio replay of the webcast will be available on this website for one year. About TechnipFMC TechnipFMC is a leading technology provider to the traditional and new energy industri...
NEWCASTLE & HOUSTON & MILAN--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) and Prysmian (MILAN: PRY) today announced the two companies have signed a collaboration agreement to further accelerate the global development of floating offshore wind to help meet growing demand for renewable electricity. This press release features multimedia. View the full release here: The collaboration agreement brings together the technologies and competencies of these two offshore industry leaders, providing the unique capabilities to pioneer a complete water column solution, from seabed to ocean surface. The collab...
>Outperformance rating and TP of $33 reiterated - Following the Q3 publication and the conference call, we reiterate our Outperformance rating as well as our TP of $33 based on an SOTP valuation. Despite the robust YTD performance of almost 30%, we believe the share harbours further upside (after restoring pre-Covid 12m P/E multiples) and since the size of the potential market and the extent of pricing power have hit incomparable levels). The adjustment to our 2024/26...
>Opinion Surperformance et OC 33 $ réitérés - A l’issue de la publication et de la conférence call, nous réitérons notre opinion Surperformance ainsi que notre OC de 33 $, basé sur une SOP. Malgré une performance solide de près de 30% YtD, nous pensons que le titre continue de revêtir du potentiel (il est revenu sur ses multiples de PE 12m pré-COVID et depuis la taille du marché potentiel ainsi que le pricing power sont sans commune mesure). L’ajustement de nos attent...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) (the “Company” or “TechnipFMC”) today reported third quarter 2024 results. Summary Financial Results from Continuing Operations 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) Sep. 30, 2024 Jun. 30, 2024 Sep. 30, 2023 Sequential Year-over- Year Revenue $2,348.4 $2,325.6 $2,056.9 1.0% 14.2% Net income $274.6 $186.5 $90.0 47.2% 205.1% ...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) today announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on December 4, 2024 to shareholders of record as of the close of business on the New York Stock Exchange on November 19, 2024, which is also the ex-dividend date. The Board has also authorized additional share repurchases of up to $1 billion. Together with the existing program, the Company is now authorized to repurchase shares of up to $1.2 billion, representing more than 10 percent of the Company’s out...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded an integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract(1) by bp for its greenfield Kaskida development in the Gulf of Mexico. The contract covers the design and manufacture of subsea production systems, including 20,000 psi (20K) standardized subsea trees and manifolds. The scope also includes the design, manufacture, and installation of subsea umbilicals, risers, and flowlines. The award follows an integrated Front End Engineering and Design (iFEED®) study by TechnipFMC. Jonatha...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded two subsea contracts by Petrobras for the pre-salt fields offshore Brazil. The first award is a substantial(1) contract to design, engineer, and manufacture riser flexible pipe. TechnipFMC will also supply associated services including packing and storage. The second award, which followed a competitive tender, is a significant(2) contract to design, engineer, and manufacture subsea production systems to be deployed on the Atapu 2, Sepia 2, and Roncador projects. The contract also covers installation support and li...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) will host its third-quarter 2024 earnings conference call on Thursday, October 24, 2024, at 1:30 p.m. London time (8:30 a.m. New York time). A press release announcing the results will be issued prior to the call at approximately 11:45 a.m. London time (6:45 a.m. New York time). The event will be webcast live and can be accessed via the or by registering . A replay of the webcast will be available on the website following the event. About TechnipFMC TechnipFMC is a leading technology provider to the traditional and new energy i...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) announced today that Doug Pferdehirt, Chair and Chief Executive Officer, will speak at the Barclays 38th Annual CEO Energy-Power Conference on Tuesday, September 3, 2024, at 12:40 p.m. ET in New York, NY. The live webcast will be available at the time of the event and can be accessed at the . There will be no presentation materials associated with the event. An audio replay of the webcast will be available on this website for 180 days. About TechnipFMC TechnipFMC is a leading technology provider to the traditional and new ener...
>Opinion Surperformance OC relevé à 33 $ - A l’issue de la publication et de la conférence call, nous relevons notre OC à 33 $ (vs 31 $ auparavant), ce dernier reste basé sur un multiple de PE 12m de 20x. Malgré une performance solide de près de 40% YtD (et le fait que le titre se situe sur ses plus hauts depuis la fusion entre Technip et FMC), nous pensons que le titre continue de revêtir du potentiel (il est revenu sur ses multiples de PE 12m pré-COVID et depuis la...
>Outperform recommendation, target price revised up to $ 33 - After the publication and the conference call, we are revising up our target price to $ 33 (vs. $ 31 previously), still based on a 12-month P/E of 20x. Despite a solid performance of nearly 40% YtD (and the fact that the share it at its highest level since the merger between Technip and FMC), we believe there is further upside potential (the company has returned to pre-COVID levels in terms of 12-month P/E...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) (the “Company” or “TechnipFMC”) today reported second quarter 2024 results. Summary Financial Results from Continuing Operations 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) Jun. 30, 2024 Mar. 31, 2024 Jun. 30, 2023 Sequential Year-over- Year Revenue $2,325.6 $2,042.0 $1,972.2 13.9% 17.9% Net...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Petrobras to supply flexible pipe for the pre-salt fields offshore Brazil, following completion of a tender. The contract covers the design, engineering, and manufacture of flexible pipe for water injection and gas lift. Jonathan Landes, President, Subsea at TechnipFMC, commented: “One of our core technologies will once again support Petrobras’s ambitions, and we are proud of the trust we have built with them over many decades. With this award, we will utilize our global manufacturin...
NEWCASTLE & HOUSTON--(BUSINESS WIRE)-- TechnipFMC plc (NYSE: FTI) today announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on September 4, 2024 to shareholders of record as of the close of business on the New York Stock Exchange on August 20, 2024. The ex-dividend date is August 20, 2024. Important Information for Investors and Securityholders Forward-Looking Statement This release contains "forward-looking statements" regarding our future dividend payment obligations as defined in Section 27A of the United States Secur...
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