The following is a summary of the TechnipFMC Plc (FTI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• TechnipFMC reported Q3 revenue of $2.3 billion.

• Adjusted EBITDA was $389 million with an adjusted EBITDA margin of 16.6%. The adjusted figures exclude foreign exchange impacts.

• The company's backlog increased sequentially to a record $14.7 billion, with Subsea backlog also setting a new record at $13.7 billion.

• Net debt declined sequentially to $129 million, and cash flow from operating activities was $278 million.

• Capital expenditures were $53 million, resulting in a free cash flow of $225 million.

Business Progress:

• Announced notable awards including Petrobras for Flexible Pipe and Subsea Production Systems and an iEPCI for bp's Kaskida project in the Gulf of Mexico.

• Completed a new state-of-the-art facility in Saudi Arabia which is expected to lead to significant growth opportunities.

• Continues to gain traction with unique iEPCI offerings, leveraging innovative technologies and Subsea Services to enhance market leadership.

Opportunities:

• Growth in Subsea orders, particularly through differentiated iEPCI offerings, and continued momentum in technology and services are expected to drive future revenue.

• Expansion of market presence and increased scope in announced awards such as in Brazil with Petrobras underline opportunities in international markets and new technology frontiers.

Risks:

• TechnipFMC anticipates that Subsea revenue and adjusted EBITDA margin could face seasonal impacts in the upcoming quarter, suggesting potential short-term volatility.

• While global backlog provides strong value, it also necessitates efficient execution amid varying global business climates and geopolitical tensions.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.