10-Q · April 30, 2026
TechnipFMC (FTI) reported FQ1 2026 results with revenue of $2.49 billion and EPS of $0.64, beating analyst expectations for both measures. The Subsea segment showed significant growth due to increased activity and…
Earnings analysis · 10-Q
FTI earnings analysis
Filed October 29, 2026 · Our reading of the company's report
The latest report
TechnipFMC delivered a strong Q3, with revenue of $2.896 billion and diluted EPS of $1.05, ahead of the $2.791 billion and $0.88 consensus estimates. Revenue and EPS increased versus both Q2 2026 and Q3 2025, while free…
Read full summary
TechnipFMC delivered a strong Q3, with revenue of $2.896 billion and diluted EPS of $1.05, ahead of the $2.791 billion and $0.88 consensus estimates. Revenue and EPS increased versus both Q2 2026 and Q3 2025, while free cash flow remained strong at $469.7 million. Management raised 2026 Subsea revenue and free cash flow outlooks and initiated 2027 Subsea guidance, although declining orders, backlog, and Surface Technologies activity remain key offsets.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
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Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.05
What stood out
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Revenue accelerated year over year
Q3 revenue was $2.896 billion, up from $2.76 billion in Q2 2026 and $2.65 billion in Q3 2025, representing sequential and year-over-year growth of approximately 4.9% and 9.3%, respectively.
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EPS materially exceeded expectations
Diluted EPS was $1.05 versus $0.90 in Q2 2026 and $0.75 in Q3 2025, increases of $0.15 and $0.30, respectively. EPS also exceeded the $0.88 consensus estimate by $0.17.
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Cash generation supports higher outlook
Free cash flow was reported at $469.7 million, compared with $488 million in Q2 2026 and $448 million in Q3 2025; the company nevertheless raised full-year 2026 free cash flow guidance to $1.45-$1.55 billion from $1.3-$1.45 billion.
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Subsea outlook was raised
The company raised 2026 Subsea revenue guidance to $9.6-$9.8 billion from $9.2-$9.6 billion and initiated 2027 Subsea revenue guidance of $10.0-$10.4 billion with a 22.5%-24.0% adjusted EBITDA margin.
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Share repurchases remained substantial
TechnipFMC repurchased 4,390,637 shares for $320.0 million during the quarter at an average price of $72.87 per share, with 17,246,280 shares remaining under the authorization at September 30, 2026.
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No control weaknesses reported
Disclosure controls were concluded effective as of September 30, 2026, and the filing reported no changes in internal control that materially affected, or were reasonably likely to materially affect, reporting.
What to watch
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Orders and Surface Technologies weakened
Inbound orders, backlog, and Surface Technologies revenue declined, although the extracted filing does not provide the segment dollar amounts. The disclosed weakness contrasts with the stronger Subsea outlook of $9.6-$9.8 billion for 2026.
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Large capital allocation commitment
The company repurchased 4,390,637 shares for $320.0 million during the quarter. This use of cash could reduce financial flexibility if operating conditions deteriorate, despite reported free cash flow of $469.7 million.
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No formal risk-factor update
The filing states that there were no material changes or updates to the risk factors previously disclosed in the 2025 Form 10-K, limiting visibility into whether emerging risks have been incorporated into the formal risk-factor section.
Management's outlook
Management raised 2026 Subsea revenue guidance to $9.6-$9.8 billion from $9.2-$9.6 billion and 2026 free cash flow guidance to $1.45-$1.55 billion from $1.3-$1.45 billion. The company initiated 2027 Subsea guidance of $10.0-$10.4 billion of revenue and a 22.5%-24.0% adjusted EBITDA margin; the extracted 10-Q text does not provide a separate corporate EPS outlook.
Earlier filings 4
10-K · February 19, 2026
TechnipFMC positions itself as the only fully integrated subsea provider (iEPCI) and is industrializing its Subsea business with the Subsea 2.0® CTO platform to improve predictability and throughput. Aggregate quarterly…
10-Q · October 23, 2025
TechnipFMC reported Q3 2025 revenue of $2,647.3 million and diluted EPS of $0.75, both improving versus the prior-year quarter. Subsea drove the beat with revenue of $2,319.2 million and operating profit of $401.3…
10-Q · July 24, 2025
TechnipFMC reported Q2 2025 revenue of $2,534.7M (up from $2,325.6M in Q2 2024 and up $301.1M versus Q1 2025), with gross margin expanding to 23.4% and operating margin to 15.4%. Diluted EPS was $0.64 for the quarter…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.