The raised Subsea revenue guidance and strong 2027 outlook signal sustained demand visibility. Monitor Q4 inbound orders and the pace of Subsea 2.0/iEPCI awards to gauge whether the $14.5B five-quarter order target is on track.
Price Chart
Executive Summary
TechnipFMC reported Q3 2026 revenue of $2.896B (up 9.4% YoY) and GAAP diluted EPS of $1.05, exceeding the consensus estimate of $0.88. The company raised its 2026 Subsea revenue guidance to $9.6B-$9.8B and free cash flow guidance to $1.45B-$1.55B, and initiated 2027 Subsea revenue guidance of $10.0B-$10.4B with adjusted EBITDA margin of 22.5%-24.0%.
Key Financial Metrics
Key Facts
- Q3 2026 revenue $2,895.8M, up 9.4% YoY from $2,647.3M
- GAAP diluted EPS $1.05 vs consensus $0.88 (beat by 19.3%)
- Adjusted diluted EPS $1.05 vs $0.75 YoY, up 40.0%
- Subsea revenue guidance raised to $9.6B-$9.8B from $9.2B-$9.6B
- Free cash flow guidance raised to $1.45B-$1.55B from $1.3B-$1.45B
- Initiated 2027 Subsea guidance: revenue $10.0B-$10.4B, adj. EBITDA margin 22.5%-24.0%
- Subsea inbound orders $2,051.5M, book-to-bill 0.8x
- Free cash flow $469.7M in Q3; $1,234.5M YTD
- Share repurchases of $320M in Q3; $1,004.9M YTD
- Net cash position $645.3M at quarter end
Financial Impact
Revenue up 9.4% YoY, EPS up 40% YoY, guidance raised for revenue and FCF, 2027 outlook initiated above current run rate
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Subsea | $2.6B | +12.1% |
| Surface Technologies | $295.8M | -9.8% |
Risk Factors
- Surface Technologies revenue declined 9.8% YoY, backlog down 25.4% YoY
- Subsea inbound orders fell 13.9% YoY, book-to-bill below 1.0x
- Foreign exchange loss of $8.6M in the quarter
- Execution risk on large iEPCI projects and 20K system development
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001681459-26-000050 |
| Document: fti-20261029.htm | 0001681459-26-000050 |
| Document: 0001681459-26-000050-index-headers.html | 0001681459-26-000050 |
| Document: 0001681459-26-000050-index.html | 0001681459-26-000050 |
| Document: 0001681459-26-000050.txt | 0001681459-26-000050 |
| 8-K Data (Synthetic) | 0001681459-26-000050 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $66.95 $68.77 | ▲ +2.72% | ▲ +4.49% | $68.77 (+2.72%) |
Aug 20, 2026 10w ago | Court Ruling | $77.45 $75.85 | ▼ −2.07% | ▼ −1.77% | $68.77 (−11.21%) |
Aug 18, 2026 10w ago | Insider Buy | $77.02 $77.62 | ▲ +0.78% | ▲ +1.62% | $68.77 (−10.71%) |
Jul 30, 2026 13w ago | 8-K | $68.92 $71.66 | ▲ +3.98% | ▲ +3.27% | $68.77 (−0.22%) |
Jul 17, 2026 15w ago | Court Ruling | $72.05 $74.62 | ▲ +3.57% | ▲ +2.73% | $68.77 (−4.55%) |
Jun 2, 2026 21w ago | 3 | $67.65 $68.82 | ▲ +1.73% | ▲ +1.33% | $68.77 (+1.66%) |
Jun 1, 2026 21w ago | 8-K | $69.24 $67.65 | ▼ −2.30% | ▼ −1.58% | $68.77 (−0.68%) |
May 19, 2026 23w ago | 144 | $73.66 $72.05 | ▼ −2.19% | ▼ −3.23% | $68.77 (−6.64%) |
May 5, 2026 25w ago | 144 | $75.03 $73.95 | ▼ −1.44% | ▼ −2.82% | $68.77 (−8.34%) |
May 5, 2026 25w ago | 144 | $75.03 $73.95 | ▼ −1.44% | ▼ −2.82% | $68.77 (−8.34%) |
US Market Status
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