TechnipFMC PLC Surges on Strong Subsea Orders
By Emma Sanchez
Jul 24, 2025 (Bloomberg) – Shares of TechnipFMC PLC, a prominent offshore oil gear manufacturer, soared to a decade-high amidst a positive outlook reflecting the industry’s confidence in sea production.
The company anticipates securing approximately $10 billion or more in subsea orders this year, as revealed in its quarterly results announcement. Executives also projected a similar growth trajectory for 2026 during an analyst call. This optimistic forecast propelled shares up by 12%, reaching their highest level since November 2014.
While the US shale drilling sector is witnessing a slowdown, offshore oil exploration remains robust. Gulf of Mexico producers are launching significant long-term projects amid challenging shale production conditions due to lower oil prices.
In the second quarter, TechnipFMC received subsea gear orders totaling $2.6 billion, surpassing Citigroup Inc.’s expected $2.2 billion. Additionally, the company reported adjusted earnings that exceeded analyst estimates.
Analyst Scott Gruber from Citi remarked, “We view the results as positive given the strong order beat, the strong Ebitda beat, and robust buybacks.”
Chief Executive Officer Douglas Pferdehirt highlighted that nearly half of the orders were linked to greenfield projects, emphasizing the company’s success in securing new ventures. He also noted that subsea services reached one of the highest quarterly levels ever for TechnipFMC.
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