FMC Technologies (FTI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
FTI wins a $250-$500 million EPCI deal for Eni's Coral North FLNG project offshore Mozambique, reinforcing its leadership in ultra-deepwater subsea.
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FTI, Exponent and CBIZ have been highlighted in this Industry Outlook article.
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FTI secures a major contract from Ithaca Energy to supply flexible risers and flowlines for the Captain field, reinforcing its North Sea subsea leadership.
TechnipFMC plc posted strong cash generation and profit growth, supporting a new buyback exceeding 10%. FTI's backlog is organically shifting toward higher-margin, integrated EPCI projects, with future contracts better indexed to inflation. As the engorged backlog matures, at its latter stages margins should also lift.
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FTI secures a major deepwater Maha contract, showcasing its Subsea 2.0 tech and strengthening ties with Eni in Indonesia.