TechnipFMC Q4 Earnings Top Estimates, Revenues Miss, Both Increase Y/Y

TechnipFMC plc FTI reported fourth-quarter 2025 adjusted earnings of 70 cents per share, which beat the Zacks Consensus Estimate of 51 cents. The bottom line also increased from the year-ago quarter’s reported profit of 54 cents. The outperformance is primarily driven by strong results in both the Subsea and the Surface Technologies segments.

Newcastle & Houston-based oil and gas equipment and services provider’s revenues of $2.5 billion missed the Zacks Consensus Estimate by 25 million. However, the top line increased from the year-ago quarter’s reported figure of $2.4 billion.

TechnipFMC plc Price, Consensus and EPS Surprise

TechnipFMC plc price-consensus-eps-surprise-chart | TechnipFMC plc Quote

Adjusted EBITDA for the Subsea unit totaled $415.6 million, which missed the Zacks Consensus Estimate of $421 million. The same for the Surface Technologies unit was $58.2 million, which beat the consensus mark of $53 million.

FTI’s fourth-quarter inbound orders decreased 11.5% from the year-ago period’s level to $2.6 billion. The company’s backlog rose at the same time. TechnipFMC’s order backlog totaled $16.6 billion as of December-end, up 15.3% from the year-ago quarter.

On Feb. 17, 2026, FTI declared a quarterly cash dividend of 5 cents per share to its common shareholders of record as of March 17. The payout, which remains unchanged from the previous quarter, will be made on April 1, 2026.

During the quarter, the company repurchased its 3.9 million common shares for a total of $168.1 million. Including a dividend payment of $20.2 million, total shareholder returns for the quarter amounted to $188.3 million.

Q4 Segmental Analysis of TechnipFMC

Subsea: Revenues from this segment totaled $2.2 billion, up 7.1% from the year-ago quarter’s $2 billion. Revenue growth was driven by higher activity in the Asia Pacific. However, the figure missed our projection by 1.4%.

Adjusted EBITDA in the subsea segment was up about 22.7% from the year-ago quarter’s level. However, FTI’s inbound orders from this segment decreased 13.3% year over year to $2.3 billion. The backlog rose 17.4% at the same time.

Surface Technologies: This segment recorded revenues of $322.8 million, up 1.1% year over year, driven by higher activity in Asia Pacific. The metric beat our projection of $322 million.

The unit's adjusted EBITDA increased 8.8%, primarily driven by higher activity in the Middle East and operational efficiencies related to business transformation initiatives. The segment’s inbound orders also increased by 10.1% year over year. However, the quarter-end backlog decreased 18.4% at the same time.

FTI’s Financials

TechnipFMC reported $2.25 billion in costs and expenses, up 4% from the year-ago quarter’s $2.16 billion.

In the quarter, the company invested $94.5 million in capital programs and generated $453.6 million in cash flow from operations, while reporting free cash flow of $359.1 million.

As of Dec. 31, 2025, FTI had cash and cash equivalents worth $1 billion and long-term debt of $395.7 million, with a debt-to-capitalization of 10.5%.

TechnipFMC’s 2026 Outlook

The company expects revenues from the Subsea unit in the range of $9.2-$9.6 billion for 2026, increased from the previous guidance range of $9.1-$9.5 billion. It also anticipates revenues between $1.15 billion and $1.3 billion for the Surface Technologies unit.

The adjusted EBITDA margin is anticipated to be in the range of 21-22% for the Subsea segment, increased from the previous guidance range of 20.5-22%, and between 16.5% and 18% for the Surface Technologies segment.

This Zacks Rank #2 (Buy) company now expects free cash flow in the band of $1.3 billion to $1.45 billion for 2026.

It also expects annual capital expenditure of approximately $340 million and net interest expense in the band of $10-$20 million for the year. FTI anticipates net corporate expenses in the range of $115-$125 million.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Important Earnings at a Glance

While we have discussed FTI’s fourth-quarter results in detail, let us take a look at three other key reports in this space.

Expand Energy Corporation EXE reported fourth-quarter 2025 adjusted earnings per share of $2, beating the Zacks Consensus Estimate of $1.89. Moreover, the company’s bottom line increased from the year-ago adjusted profit of 55 cents, fueled by strong production and higher natural gas price realization.

Expand Energy’s ‘natural gas, oil and NGL’ revenues of $2.3 billion surpassed the Zacks Consensus Estimate of $2.2 billion. Additionally, the top line was also higher than the year-ago figure of $1.6 billion.

As of Dec. 31, 2025, the company had $616 million in cash and cash equivalents. Expand Energy had a long-term debt of $5 billion, reflecting a debt-to-capitalization of 21.2%.

NOV Inc. NOV reported fourth-quarter 2025 adjusted earnings of 2 cents per share, which missed the Zacks Consensus Estimate of 25 cents. The bottom line also decreased significantly from the year-ago quarter’s 41 cents due to the underperformance of the Energy Products and Services segment.

The oil and gas equipment and services company’s total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4.9%, driven by stronger-than-expected revenues from the Energy Equipment segment, which was backed by strong execution on backlog. However, revenues fell 1.3% from the year-ago quarter’s figure due to a decline in global drilling activity of 6%.

As of Dec. 31, 2025, the company had cash and cash equivalents of $1.6 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.1%. NOV had $1.5 billion available on its primary revolving credit facility during the same time.

Nabors Industries Ltd. NBR reported a fourth-quarter 2025 adjusted profit of 17 cents per share, beating the Zacks Consensus Estimate of a loss of $2.93. Additionally, the metric is well above the prior-year quarter’s reported loss of $6.67 per share. This outperformance was mainly driven by higher adjusted operating income from its International Drilling and Drilling Solutions segments.

The oil and gas drilling company’s operating revenues of $797.5 million beat the Zacks Consensus Estimate of $797 million. The figure also increased from the year-ago quarter’s $729.8 million, driven by stronger revenue contributions from the International Drilling and Drilling Solutions segments.

As of Dec. 31, 2025, NBR had $940.7 million in cash and short-term investments.

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