Why These Energy Stocks are Gaining This Week

8. TechnipFMC plc (NYSE:FTI)

Share Price Gains Between Mar. 26 – Apr. 2: 5.98%

TechnipFMC plc (NYSE:FTI) is a leading technology provider to the traditional and new energy industry, delivering fully integrated projects, products, and services.

TechnipFMC plc (NYSE:FTI) reported an adjusted EPS of $0.54 in its Q4 2024, beating market expectations of $0.36. The company’s revenue of $2.37 billion was also above estimates by $70 million. FTI also declared a quarterly dividend of $0.05 per share in February, in line with the previous.

TechnipFMC plc (NYSE:FTI) revealed last week that it has secured a large integrated Engineering, Procurement, Construction, and Installation (iEPCI) contract from Equinor for the third phase of what is said to be the third-largest oil field on the Norwegian Continental Shelf. The company placed the contract value anywhere between $500 million and $1 billion. Shortly after, FTI announced that it had also won another contract for Shell’s Gato do Mato greenfield development offshore Brazil, worth over $1 billion.