TechnipFMC plc (NYSE:FTI) Q2 2023 Earnings Call Transcript

Marc Bianchi: I wanted to ask a little bit more about the orders for this year. Now you have got this upgraded guidance of $9 billion. That leaves about $2.3 billion in the second half. How are you thinking about the unannounced and announced portions of this? By my math, it would seem to assume maybe a slightly lower unannounced piece and almost zero large awards. Is that the right way to be thinking about the outlook here?

Douglas Pferdehirt: Marc, I don’t know that I would draw any – might be early to draw any strong determination of the mix. There will be more announced awards. I will certainly confirm that. Obviously the strong base from our subsea services and as you know, the continued level of unannounced awards. So I think what you saw in the second quarter was just a phenomenal and a phenomenal mix of announced awards in the second quarter, probably a bit higher in that mix, if you will, that you rightfully laid out. So if you kind of look at that recipe going forward, there will be more announced awards, but probably not to the same level as we saw in the second quarter, which was quite exceptional. Again, I think I just want to make sure the focus remains on the $25 billion. That is where our focus is. And our level of confidence has increased significantly in our ability to be able to achieve the $25 billion over, I guess, it would be what now the next 10 quarters or so.

Operator: And that was the final question. I will now turn the call back over to Matt Seinsheimer for final remarks.

Matt Seinsheimer: This concludes our second quarter conference call. A replay of the call will be available on our website beginning at approximately 8:00 p.m. British Summer Time today. If you have any further questions, please feel free to reach out to the Investor Relations team. Thanks so much for joining us. Jack, you may end the call.

Operator: This concludes today’s conference. We thank you for your participation. You may now disconnect.