Financial and Operational Highlights

• Revenue for Q2 2026 stood at \$2.49 billion, demonstrating resilience despite a sequential dip from Q1’s \$2.53 billion.
• Net income reached \$362.7 million, a substantial 39% increase sequentially from Q1’s \$260.5 million, and up 40.7% year-over-year.
• Diluted earnings per share surged to \$0.90 (up from \$0.64 in Q1), marking a 40.6% increase both sequentially and year-on-year.
• Adjusted EBITDA margin reached 21.1%, up from 20.5% in Q1, and up 240 basis points year-on-year.
• Free cash flow in the quarter was \$487.9 million, reflecting robust cash generation.
• Cash and cash equivalents at the end of Q2 totaled \$991.8 million, with net cash at \$589.9 million.

Segment Performance

Subsea Segment

• Adjusted EBITDA: \$577.2 million in Q2 2026.
• Strong margin expansion, reflecting effective cost management and project execution.

Surface Technologies Segment

• Revenue: \$276.2 million, a sequential decrease from \$284.3 million—reflecting ongoing industry challenges.
• Operating profit: \$39.0 million vs \$37.1 million in Q1.
• Adjusted EBITDA margin: 14.1% (down from 16.7% year-over-year).

Shareholder Returns and Capital Allocation

• TechnipFMC repurchased 5.9 million ordinary shares in Q2 for a total consideration of \$420.1 million.
• A dividend payment of \$19.8 million was also made in the quarter.
• Total shareholder distributions in Q2 were \$439.9 million.

Corporate and Other Items

• Corporate expense: \$26.4 million.
• Foreign exchange loss: \$19.3 million.
• Net interest expense: \$3.6 million.
• Income tax provision: \$114.1 million.
• Total depreciation and amortization: \$97.1 million.

2026 Full-Year Financial Guidance (Unchanged)

Note: Guidance measures are non-GAAP and exclude charges and credits. No updates were made to previous guidance.

Key Takeaways and Price-Sensitive Information

• TechnipFMC delivered a significant jump in profitability, with net income and earnings per share up over 40% sequentially and year-on-year.
• Robust free cash flow and cash balances provide flexibility for continued shareholder returns and investment.
• Aggressive share buybacks and sustained dividends highlight management’s confidence in future cash flow and commitment to shareholder value.
• Management reaffirmed full-year guidance, signaling confidence in visibility and operational performance through the remainder of 2026.
• No new updates to guidance may be taken as a sign of stability, but investors should watch for macro headwinds such as energy prices and project timing.

Shareholder Considerations

• Share repurchases and dividend payments are price-sensitive, supporting the company’s share price and indicating confidence in future cash flows.
• Consistent free cash flow above \$1.3 billion for the year could allow for further capital returns or strategic investments.
• Investors should monitor any future updates regarding project backlog, commodity price movements, or potential M&A/divestitures, as these could become catalysts for share price movement.

Upcoming Events

• TechnipFMC will host a teleconference on July 30, 2026, to discuss the results. Webcast access and presentation materials are available at www.TechnipFMC.com.