Strong demand for TechnipFMC’s services in the subsea segment is allowing the company to repair its balance sheet.

Even though TechnipFMC reported net income of just $1.2 million for the second quarter of 2022, revenues were up 2.9% year on year to about $1.72 billion.

The company’s subsea division reported securing orders of $1.9 billion, by far the most of any segment in the company.