Technip Energies beats Q3 core profit forecasts as project delivery unit rebounds

By Hugo Lhomedet and Rihab LatracheThu, October 29, 2026 at 6:59 AM UTC

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(Refiles to add dropped part of company name in paragraph 2.)

By Hugo Lhomedet and Rihab Latrache

Oct 29 (Reuters) - French engineering group Technip Energies reported third-quarter core profit above analysts' expectations on Thursday, as a recovery in its Project Delivery business offset weaker-than-expected revenue.

Technip Energies cut its profitability outlook for its Project Delivery business in July after higher logistics and operating costs linked to the Middle East weighed on earnings.

• Adjusted recurring core profit rose to €172.4 million ($191,71 million), above the €148 million expected, according to a company-compiled consensus

• Its adjusted revenue of €1.94 billion fell short of analysts' expectations of €2.08 billion

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• Project Delivery core profits rose to €100.9 million from €23.8 million in the previous quarter, while the unit's margin recovered to 7.0% from 1.7%

• Chief Financial Officer Bruno Vibert told reporters that operations in the region had stabilised and that a "fairly significant" proportion of customers had agreed to cover additional costs incurred as a result of the disruption

• Vibert said negotiations with customers over the recovery of disruption-related costs were progressing and would continue into 2027 for some items

• The company said it maintained its 2026 targets

($1 = 0.8993 euros)

(Reporting by Hugo Lhomedet and Rihab Latrache in Gdansk; Editing by Leroy Leo)

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Source: “AOL Money”