Oil and gas engineering company TechnipFMC has seen a significant boost in its subsea inbound orders during the second quarter of 2023, according to recent reports. The company received $4.1 billion in subsea orders, a 62.2% increase compared to the previous quarter in 2023 and a 113.4% increase compared to the same period in 2022.
TechnipFMC said it achieved record-breaking milestones in its iEPCI full-field subsea development and integrated project execution, along with its Subsea 2.0 subsea production system.
The company's total revenue in the second quarter reached almost $2 million. However, the loss from continuing operations was $87.2 million. Second quarter adjusted income from continuing operations was $44 million. The adjusted EBITDA was $205.9 million.
TechnipFMC's backlog during the quarter was $13.3 billion, a 25% sequential increase.
