TechnipFMC plc: TechnipFMC Announces First Quarter 2021 Results
Cash flow from continuing operations $182 million, free cash flow $137 million
Subsea inbound orders more than doubled sequentially to $1.5 billion
New partnerships leverage subsea expertise for integrated wind, wave energy
Regulatory News:
Summary Financial Results from Continuing Operations
Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.
Three Months Ended
March 31,
$0.95
$(0.03)
(11.9%)
Total Company revenue in the first quarter was $1,632 million. Income from continuing operations attributable to TechnipFMC plc was $430.3 million, or $0.95 per diluted share. These results included income from the Company s equity investment in Technip Energies of $470.1 million primarily related to a favorable change in fair market value. After-tax charges and credits totaled $444.8 million of credit, or $0.99 per diluted share. Adjusted loss from continuing operations
TechnipFMC Receives Notice to Proceed for Subsea Contract for Santos Barossa Project Offshore Australia
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Technip Energies to Purchase €20 Million Equivalent of its Own Shares From TechnipFMC
Regulatory News:
Technip Energies (Paris:TE) (ISIN:NL0014559478) (the Company ), a leading Engineering Technology company for the Energy Transition, today announces that it has agreed to acquire €20 million equivalent of its own ordinary shares (the Shares ) from TechnipFMC plc., concurrently with TechnipFMC s announced sell-down of its stake in the Company through a private placement by way of an accelerated book building process. The price per Share for the Shares to be purchased by the Company from TechnipFMC is the purchase price to be announced by TechnipFMC in its separate accelerated book building process.
TechnipFMC plc: TechnipFMC Receives Notice to Proceed for Subsea Contract for Santos Barossa Project Offshore Australia
(1)
subsea production system contract from Santos Ltd. (ASX: STO) for the Barossa project, located 300 kilometers north of Darwin, Australia, at a water depth of approximately 130 meters.
The contract scope covers the supply of subsea trees and associated control systems, manifolds and wellheads, as well as installation and commissioning support, which will help to extend the life of the existing Darwin LNG facility.
Jonathan Landes, President Subsea at TechnipFMC, commented:
We are very pleased to have been selected as a subsea partner for the Barossa project. This important award strengthens our relationship with Santos and further demonstrates our commitment to assist in the development of the Australian energy sector.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Technip Energies Q1 2021 Financial Results
April 22, 2021 GMT
Regulatory News:
Technip Energies (Paris:TE) (ISIN:NL0014559478) (the “Company”), a leading Engineering & Technology company for the Energy Transition, today announces its first quarter unaudited 2021 financial results.
Arnaud Pieton, CEO of Technip Energies, on Q1 2021 results and outlook:
“The successful creation of Technip Energies took place on February 16, 2021. For the 15,000 people of our new company, this was a proud moment, which has further energized our workforce to deliver on our ambition – to be the reference investment platform for the Energy Transition.”
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