TechnipFMC Hits Record $15.8 Billion Order Backlog Amid Strong Demand

Published 1 days agoFTI

TechnipFMC Hits Record $15.8 Billion Order Backlog Amid Strong Demand

TechnipFMC has announced a record-high order backlog of $15.8 billion, highlighting strong demand for its services and strategic project acquisitions. The backlog reflects significant contracts, including the Rovuma LNG project in Mozambique and the Lake Charles LNG plant in the United States. These developments are poised to enhance the company's revenue streams substantially in the coming years.

Confirming its robust financial performance, TechnipFMC reported a 13% increase in revenue year-on-year. This growth is attributed to successful project deliveries and a rise in net income. Furthermore, in a strategic move, the company has revised its revenue guidance upwards for 2024, now anticipating revenues between $6.5 billion and $6.8 billion, up from the earlier projection of $6.1 billion to $6.6 billion.

To sustain its profitability, TechnipFMC reaffirmed its EBIT margin guidance of 7% to 7.5%. Despite the French government's proposed corporate tax increase, the company expects minimal impact due to its limited exposure to projects in France, as noted by Reuters. These factors together underscore TechnipFMC's strong positioning in the market and its competency in executing large-scale projects.

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