TechnipFMC (NYSE: FTI) said a 10% upswing in revenue showed the energy industry was poised for growth, as the group looks to cut debt and buy back “undervalued” shares.
TechnipFMC has increased its full-year expectations on the back of a strong start to 2021, as well as “continued improvement” in the broader market outlook.
TechnipFMC has marked what it described as an “exceptional start” to 2021 as subsea orders doubled from the end of last year.
Bosses at TechnipFMC are confident the energy services giant is “well-positioned” to benefit from the “improved market outlook” in the coming months.
TechnipFMC has completed its promised spin-off transaction to create two independent, publicly traded companies.
TechnipFMC will complete its long-awaited separation into two distinct businesses later this month.
TechnipFMC has restarted its bid to split the business in two after the Covid-19 pandemic halted the process.
TechnipFMC has recorded pre-tax losses of £2.4bn for the first half of 2020 thanks to heavy write-downs of its oil and gas assets.
Energy services firm TechnipFMC has reported a £1.7 billion pre-tax loss in the fourth quarter of 2019.
TechnipFMC saw its profits halved in the third quarter of the year amid a series of pre-tax charges and “diverging trends” for its various business segments.
TechnipFMC's chief executive has declared “we are winning” amid what he described as an “unprecedented” level of orders for the company.