$FTI

TechnipFMC plc

CIK:0001681459|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 2,763.1	$ 2,534.7	$ 5,255.8	$ 4,768.3
Costs and expenses
Selling, general and administrative expense	169.3	173.2	385.2	357.4
Research and development expense	25.7	14.1	43.5	33.2
Restructuring, impairment and other expenses	5.0	16.4	5.6	17.6
Total costs and expenses	2,278.4	2,145.1	4,420.1	4,118.3
Other income (expense), net	(18.7)	(10.7)	(12.4)	(40.3)
Income from equity affiliates (Note 9)	13.8	10.3	18.3	19.7
Income before net interest expense and income taxes	479.8	389.2	841.6	629.4
Interest income	7.1	7.8	18.2	20.5
Interest expense	(10.7)	(22.2)	(27.8)	(44.8)
Income before income taxes	476.2	374.8	832.0	605.1
Provision for income taxes (Note 13)	114.1	106.5	210.0	193.5
Net income	362.1	268.3	622.0	411.6
Net (income) loss attributable to non-controlling interests	0.6	1.2	1.2	(0.1)
Net income attributable to TechnipFMC plc	$ 362.7	$ 269.5	$ 623.2	$ 411.5
Earnings per share attributable to TechnipFMC plc
Basic (usd per share)	$ 0.92	$ 0.65	$ 1.57	$ 0.98
Diluted (usd per share)	$ 0.90	$ 0.64	$ 1.53	$ 0.97
Weighted average shares outstanding (Note 5)
Basic (in shares)	396.2	415.4	398.1	418.3
Diluted (in shares)	404.5	420.5	407.0	426.2
Service revenue
Revenue
Revenue	$ 1,776.0	$ 1,533.3	$ 3,061.5	$ 2,898.7
Costs and expenses
Cost of product and service revenue	1,364.3	1,157.7	2,416.5	2,290.6
Product revenue
Revenue
Revenue	987.1	1,001.4	2,194.3	1,869.6
Costs and expenses
Cost of product and service revenue	$ 714.1	$ 783.7	$ 1,569.3	$ 1,419.5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash provided by operating activities
Net income (loss)	$ 622.0	$ 411.6
Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization	200.7	217.6
Employee benefit plan and share-based compensation costs	75.6	37.8
Deferred income tax provision, net	46.7	63.0
Income from equity affiliates, net of dividends received	(10.8)	11.3
Changes in operating assets and liabilities
Trade receivables, net and Contract assets	(436.0)	(78.3)
Inventories, net	(83.0)	(90.6)
Accounts payable, trade	338.4	(84.8)
Contract liabilities	73.0	261.2
Income taxes (receivable) payable, net	48.5	(5.2)
Other current assets and liabilities, net	84.6	18.7
Other operating activities	(79.2)	23.6
Cash provided by operating activities	880.5	785.9
Cash required by investing activities
Capital expenditures	(115.7)	(145.4)
Other investing activities	5.4	4.6
Cash required by investing activities	(110.3)	(140.8)
Cash required by financing activities
Repayment of debt obligations	(15.0)	(241.6)
Share repurchases	(684.9)	(500.2)
Dividends paid	(39.7)	(41.6)
Payments related to taxes withheld on share-based compensation	(77.8)	(69.2)
Other financing activities	7.4	(28.2)
Cash required by financing activities	(810.0)	(880.8)
Effect of changes in foreign exchange rates on cash and cash equivalents	(0.3)	28.0
Change in cash and cash equivalents	(40.1)	(207.7)
Cash and cash equivalents, beginning of period	1,031.9	1,157.7
Cash and cash equivalents, end of period	$ 991.8	$ 950.0

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 991.8	$ 1,031.9
Trade receivables, net of allowances of $42.2 in 2026 and $45.3 in 2025	1,487.4	1,128.6
Contract assets	1,295.5	1,065.5
Inventories, net (Note 7)	1,242.6	1,153.0
Derivative financial instruments (Note 11)	251.6	442.1
Income taxes receivable	142.9	179.4
Other current assets (Note 8)	486.8	544.8
Total current assets	5,898.6	5,545.3
Investments in equity affiliates (Note 9)	242.6	231.1
Property, plant and equipment, net of accumulated depreciation of $3,548.1 in 2026 and $3,543.3 in 2025	2,257.1	2,285.3
Operating lease right-of-use assets	714.0	773.5
Finance lease right-of-use assets	71.9	77.9
Intangible assets, net of accumulated amortization of $847.0 in 2026 and $806.8 in 2025	381.1	425.7
Deferred income taxes	237.9	252.7
Derivative financial instruments (Note 11)	162.2	187.1
Other assets	403.0	339.6
Total assets	10,368.4	10,118.2
Liabilities and equity
Short-term debt and current portion of long-term debt (Note 10)	115.3	34.3
Operating lease liabilities	143.6	146.7
Finance lease liabilities	31.4	31.0
Accounts payable, trade	1,560.2	1,179.8
Contract liabilities	2,358.9	2,148.9
Derivative financial instruments (Note 11)	295.8	358.3
Income taxes payable	186.9	142.1
Other current liabilities (Note 8)	768.9	873.7
Total current liabilities	5,461.0	4,914.8
Long-term debt, less current portion (Note 10)	286.6	395.7
Operating lease liabilities, less current portion	612.1	673.7
Finance lease liabilities, less current portion	53.7	61.2
Deferred income taxes	133.4	100.8
Derivative financial instruments (Note 11)	181.8	202.4
Other liabilities	360.7	364.3
Total liabilities	7,089.3	6,712.9
Commitments and contingent liabilities (Note 17)
Stockholders’ equity (Note 14)
Ordinary shares, $1.00 par value; 618.3 shares authorized in 2026 and 2025; 392.8 shares and 400.7 shares issued and outstanding in 2026 and 2025, respectively	392.8	400.7
Capital in excess of par value of ordinary shares	7,905.0	8,081.9
Accumulated deficit	(3,652.9)	(3,761.4)
Accumulated other comprehensive loss	(1,373.1)	(1,357.4)
Total TechnipFMC plc stockholders’ equity	3,271.8	3,363.8
Non-controlling interests	7.3	41.5
Total equity	3,279.1	3,405.3
Total liabilities and equity	$ 10,368.4	$ 10,118.2