The following is a summary of the TechnipFMC Plc (FTI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• TechnipFMC reported Q1 total company revenue of $2 billion, adjusted EBITDA of $257 million, and an adjusted EBITDA margin of 12.6%.

• Total company inbound orders in the quarter valued at $2.8 billion.

• The company sold the Measurement Solutions business, repurchasing $150 million of shares from the proceeds.

• Total shareholder distributions have reached $520 million in less than two years with an expected growth of at least 70% in the current year compared to 2023.

• The company reported gross debt around $1 billion with a net debt of $327 million. The company committed to reducing debt by approximately $200 million from the current levels.

Business Progress:

• TechnipFMC is accelerating investment in subsea technology. First quarter orders were $2.4 billion, representing a book-to-bill of $1.4.

• The company has announced first IEPCI for Petrobras and delivered first all-electric Subsea IEPCI, marking industry milestones.

• The company continues to work on integration and commissioning of subsea projects, also developing an integrated carbon transportation system for CCS.

• Strong start to Q1 2024 with a strong free cash flow. The company expects increased EBITDA growth, particularly in Subsea.

• The company is focusing on project selectivity, quality of backlog, and integrated projects while investing in Saudi Arabia, moving manufacturing capacity from Asia to the Kingdom.

More details: TechnipFMC IR

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