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…
Earnings analysis · 10-Q
FTI earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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 backlog conversion, although overall inbound orders and backlog decreased quarter-over-quarter, indicating potential future challenges in order acquisition.
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.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
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
- $0.64
What stood out
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Revenue Growth Year-over-Year
Revenue increased by $259.1 million (11.6%) from $2.23 billion in Q1 2025 to $2.49 billion in Q1 2026.
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Strong EPS Performance
EPS rose from $0.33 in Q1 2025 to $0.64 in Q1 2026, representing a $0.31 increase.
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Subsea Segment Revenue Growth
Subsea revenue increased by $272.2 million (14.1%) due to higher backlog and project activity.
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Improved Gross Profit Margin
Gross profit increased to $585.3 million, up from $464.9 million, improving the gross margin percentage.
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Decrease in Net Interest Expense
Net interest expense decreased by $3.9 million to $6.0 million due to reduced debt levels.
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Operating Cash Flow Resilience
Operating cash flow was $332.5 million despite a decrease from $441.7 million in Q1 2025.
What to watch
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Decrease in Inbound Orders
Total inbound orders fell by $936.7 million (30.3%) from $3.09 billion in Q1 2025 to $2.15 billion in Q1 2026.
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Surface Technologies Revenue Decline
Surface Technologies revenue decreased by $13.1 million (4.4%) due to timing of project activity, mainly in the Middle East.
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Q1 Backlog Decrease
Total order backlog decreased from $16.57 billion as of December 31, 2025 to $16.47 billion as of March 31, 2026.
Management's outlook
Management expects to maintain activity levels and anticipates a positive long-term outlook for oil and natural gas.
Earlier filings 4
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…
10-K · February 27, 2025
TechnipFMC positions itself as the only fully integrated subsea provider, leaning on its iEPCI™ integrated execution model and the Subsea 2.0® configure-to-order platform to industrialize delivery and improve project…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.