TechnipFMC plc
TechnipFMC Reports Strong Q4 2023 Financial Results and Raises Subsea Order Outlook
Summary
TechnipFMC plc reported strong financial results for the fourth quarter of 2023, with total Company revenue increasing by 22.6% year-over-year to $2,077.7 million. The company generated income attributable to TechnipFMC of $53 million, or $0.12 per diluted share, which included after-tax charges and credits of $9.7 million. Adjusted income was $62.7 million, or $0.14 per diluted share, and adjusted EBITDA was $218.7 million. TechnipFMC also raised its subsea order outlook for the three-year period through 2025 to $30 billion. Additionally, the company announced an agreement to sell its Measurement Solutions business to One Equity Partners for $205 million.
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About TechnipFMC plc
TechnipFMC plc is a globally recognized company in the oil and gas services sector. It specializes in delivering innovative solutions across three main sectors: Subsea, Onshore/Offshore, and Surface Technologies. The primary function of TechnipFMC is to provide comprehensive services for the exhaustive lifecycle of energy projects, from concept to execution and beyond. This includes front-end engineering design (FEED), project management, technology development, and equipment supply. The company's dual expertise in engineering and technology innovation positions it as a leader in enhancing production efficiency and cost-effectiveness for its clients. TechnipFMC plays a vital role in the global energy market, driving advancements in resource extraction, processing, and distribution. With its focus on both traditional oil and gas as well as emerging renewable technologies, TechnipFMC significantly impacts sectors such as energy infrastructure and sustainable resource management. Its strategic headquarters are located in London, and it operates through a network of offices worldwide, making it a pivotal player in the global industrial landscape.
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