NYSE$FTI
TechnipFMC Plc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
TechnipFMC reported strong Q4 2023 results, marked by a significant increase in Subsea inbound orders and overall backlog.
TechnipFMC announced strong Q4 2023 results, with revenue of $2,077.7 million and income of $53 million. The company's Subsea inbound orders reached $1.3 billion, contributing to a total company backlog of $13.2 billion, a 41% increase year-over-year. Cash flow from operations was $701 million, with free cash flow at $630 million.
- Subsea inbound orders totaled $1.3 billion; full-year orders grew 45% to $9.7 billion compared to 2022.
- Total Company backlog increased 41% year-over-year to $13.2 billion.
- Cash flow from operations reached $701 million, with free cash flow at $630 million.
- Shareholder distributions totaled $77 million for the quarter and $249 million for the full year.
Headline financials
Revenue & EPS history
TechnipFMC · Revenue · Quarterly
$2.08B
Revenue by segment
TechnipFMC · $2.06B total across 2 segments · Q3 2023
- Subsea$1.71B+20.7%83.1%
- Surface Technologies$349M+9.6%16.9%
Forward guidance
TechnipFMC provided full-year 2024 financial guidance, including revenue and Adjusted EBITDA margin ranges for both Subsea and Surface Technologies segments. The company anticipates revenue between $7.2 - 7.6 billion for Subsea and $1.2 - 1.35 billion for Surface Technologies. Adjusted EBITDA margin is expected to be in the range of 15.5 - 16.5% for Subsea and 13 - 15% for Surface Technologies. Corporate expense, net, is projected to be $115 - 125 million, net interest expense $70 - 80 million, tax provision $280 - 290 million, capital expenditures approximately $275 million and free cash flow $350 - 500 million.
Tailwinds
- Subsea revenue is expected to be in the range of $7.2 - 7.6 billion.
- Subsea adjusted EBITDA margin is expected to be in the range of 15.5 - 16.5%.
- Surface Technologies revenue is expected to be in the range of $1.2 - 1.35 billion.
- Surface Technologies adjusted EBITDA margin is expected to be in the range of 13 - 15%.
- Free cash flow is projected to be $350 - 500 million.
Headwinds
- Corporate expense, net, is projected to be $115 - 125 million.
- Net interest expense is projected to be $70 - 80 million.
- Tax provision is projected to be $280 - 290 million.
- Capital expenditures are expected to be approximately $275 million.
- Free cash flow includes payment for legal settlement of ~$170 million.
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 2023
+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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro