NYSE$FTI
TechnipFMC Plc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
TechnipFMC reported mixed results for Q4 2022, with revenue declining sequentially but increasing year-over-year. The company experienced a loss from continuing operations but saw growth in inbound orders and backlog. Financial guidance for 2023 was initiated, and the intermediate-term outlook for 2025 was updated.
TechnipFMC's Q4 2022 revenue was $1,694.4 million. The company's loss from continuing operations was $26.7 million, or $0.06 per diluted share. Adjusted loss from continuing operations was $20.7 million, or $0.05 per diluted share. The company's inbound orders were $1,842.5 million, and the ending backlog was $9,353.0 million.
- Subsea inbound orders reached $1.5 billion, with full-year orders growing 36% to $6.7 billion compared to 2021.
- Total Company backlog increased 22% year-over-year to $9.4 billion.
- Cash flow from operations was $566 million, resulting in free cash flow of $503 million for the quarter.
- Financial guidance for 2023 was initiated, and the intermediate-term outlook for 2025 was updated.
Headline financials
Revenue & EPS history
TechnipFMC · Revenue · Quarterly
$1.69B
Revenue by segment
TechnipFMC · $1.69B total across 2 segments · Q4 2022
- Subsea$1.34B+8.6%79.2%
- Surface Technologies$352M+22.6%20.8%
Forward guidance
TechnipFMC anticipates revenue growth of approximately 12% to $7.5 billion and adjusted EBITDA to increase to approximately $870 million in 2023. The company expects $25 billion of Subsea inbound for the company from 2023 through 2025 and revised Subsea forecast for 2025 demonstrates a 650 basis point expansion in adjusted EBITDA margin to 18% and adjusted EBITDA of approximately $1.4 billion.
Tailwinds
- Total Company revenue growth of approximately 12% to $7.5 billion.
- Adjusted EBITDA expected to increase to approximately $870 million.
- $25 billion of Subsea inbound for the company from 2023 through 2025.
- 650 basis point expansion in adjusted EBITDA margin to 18% for Subsea in 2025.
- Adjusted EBITDA of approximately $1.4 billion for Subsea in 2025.
Headwinds
- Unpredictability of individual components of the most directly comparable GAAP financial measure.
- Variability of items excluded from each such measure.
- Potential significant and unpredictable impact on future financial results.
- Risks and uncertainties associated with forward-looking statements.
- Assumptions that could cause actual results to differ materially from historical experience.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+2.1%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+1.4%
Avg return
30 days after
69%
44 / 64 earnings
Positive
+19.0%
Q4 2020
Best reaction
-12.1%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -2.5% | -11.1% | |
| Q4 2025 | -0.8% | -2.5% | -11.1% | |
| Q3 2025 | +9.1% | +9.7% | +17.7% | |
| Q2 2025 | +1.7% | -0.5% | +13.8% | |
| Q1 2025 | +9.9% | +15.1% | +18.6% | |
| Q3 2024 | +5.2% | +3.7% | +22.5% | |
| Q2 2024 | +5.8% | +6.3% | -2.2% | |
| Q1 2024 | +3.4% | -0.4% | +0.5% | |
| Q4 2023 | +6.2% | +8.4% | +24.7% | |
| Q3 2023 | +8.4% | +8.0% | +6.9% | |
| Q2 2023 | -1.2% | -4.5% | -3.4% | |
| Q1 2023 | +6.9% | +0.3% | +8.7% | |
| Q4 2022 | +15.1% | +15.7% | -5.4% | |
| Q3 2022 | -2.5% | -0.8% | +13.3% | |
| Q2 2022 | +15.1% | +27.2% | +34.7% | |
| Q1 2022 | -0.1% | -6.7% | +13.2% | |
| Q4 2021 | +3.1% | +6.0% | +21.8% | |
| Q3 2021 | -4.5% | -0.4% | -19.9% | |
| Q2 2021 | -2.9% | -0.9% | -17.0% | |
| Q1 2021 | +12.2% | +5.0% | +23.0% | |
| Q4 2020 | +19.0% | +17.9% | +12.6% | |
| Q3 2020 | -5.7% | -16.2% | +13.5% | |
| Q2 2020 | +6.5% | +7.0% | +3.6% | |
| Q1 2020 | +2.4% | +2.0% | -4.2% | |
| Q4 2019 | +0.2% | -1.2% | -53.4% | |
| Q3 2019 | -12.1% | -11.0% | -18.2% | |
| Q2 2019 | +7.0% | +7.7% | -11.7% | |
| Q1 2019 | +0.8% | -0.8% | -11.2% | |
| Q4 2018 | -5.5% | -4.0% | -5.4% | |
| Q3 2018 | -4.1% | -8.1% | -19.7% | |
| Q2 2018 | +4.1% | +11.3% | +1.1% | |
| Q1 2018 | -3.2% | -2.9% | -0.3% | |
| Q4 2017 | +4.0% | +3.1% | +0.0% | |
| Q3 2017 | +4.8% | +6.6% | +6.2% | |
| Q2 2017 | +4.1% | +3.6% | -6.5% | |
| Q1 2017 | -6.0% | -6.4% | -9.5% | |
| Q4 2016 | +0.4% | +0.9% | -4.8% | |
| Q3 2016 | +5.5% | +4.0% | +10.0% | |
| Q2 2016 | -0.8% | -7.9% | +5.2% | |
| Q1 2016 | +5.2% | — | — | |
| Q4 2015 | +8.7% | — | — | |
| Q3 2015 | -3.2% | — | — | |
| Q2 2015 | -9.7% | — | — | |
| Q1 2015 | +2.7% | — | — | |
| Q4 2014 | +5.2% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | +3.8% | — | — | |
| Q1 2014 | +4.4% | — | — | |
| Q4 2013 | -2.1% | — | — | |
| Q3 2013 | -9.0% | — | — | |
| Q2 2013 | -2.2% | — | — | |
| Q1 2013 | +5.4% | — | — | |
| Q4 2012 | +6.6% | — | — | |
| Q3 2012 | +1.4% | — | — | |
| Q2 2012 | +2.4% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q3 2011 | -7.2% | — | — | |
| Q2 2011 | +0.9% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2010 | -0.6% | — | — | |
| Q3 2010 | +0.6% | — | — | |
| Q2 2010 | +3.4% | — | — | |
| Q1 2010 | +1.1% | — | — |
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